Who is responsible for managing and completing the inbound KYB and DD forms for your organization?

In our organization, the responsibility for managing and completing the inbound Know Your Business (KYB) and Due Diligence (DD) forms falls under the purview of our compliance department. This role is typically handled by our compliance officer or a dedicated compliance team member who has specialized training in regulatory requirements. They are tasked with ensuring that all necessary documentation is accurately filled out and submitted in a timely manner, adhering to both internal guidelines and external regulatory standards. This process involves collaborating with various departments to gather the required information, verifying the authenticity of the data provided, and maintaining a streamlined workflow to facilitate a smooth onboarding process for our partners and suppliers. Regular training and updates are conducted to keep the team informed about any changes in regulations that might affect the KYB and DD responsibilities.