Thread regarding Citigroup Inc. / Citibank / Citi layoffs

AML/KYC dept being targeted for efficiencies.

Poor overall performance of these teams, cost, and the testing new systems to automate these processes. Just if dept of many, but this is a high priority. Anyone in those depts have additional info on this? Hearing layoffs will begin in earnest in Q4.

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Post ID: @104F9M4X

7 replies (most recent on top)

Odd the new location has not been revealed yet.

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Post ID: @104F9M4X-dzrm

Just wondering if anything more has been 'heard' about this. I'm in AML and wondering if I should start searching. It's a tough market out there though.

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Post ID: @104F9M4X-8bln

The issue of the departments being poorly run is a management problem. If there are agents not working then workflow is a problem and HR should allow management to coach them out which is not happening. The bank will always need KYC because of regulatory issues.

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Post ID: @104F9M4X-2dlj

Anti money laundry. It makes sure criminal activity is not funneling through the bank. Look up KYC (know your customer), it may help you understand.

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Post ID: @104F9M4X-2pfa

AML? What does that stand for?

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Post ID: @104F9M4X-1neb

The AML folks are run by retired federal agent who tries to run AML like the government. Even thought Citi has a robust work from home policy, this person wants butts in seats all the time. there is a literal army of AML people in the ft lauderdale LATAM office who sit around all day gossiping or walk around the parking lot.

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Post ID: @104F9M4X-1ggl

Good riddance. Those departments are horrendously run.

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Post ID: @104F9M4X-loi

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