KYC verification checklist

purpose this checklist governs the operational and regulatory verification activities required before a new policyholder may be onboarded or placed on risk 🎯 scope applies to every new policyholder, natural person or juristic entity, across all channels derived from the fica obligations set out in the customer due diligence policy (see policies and standards ) 🧭 verification workflow client identity and supporting evidence submitted identity and sanctions screening completed potential exceptions or pep matches escalated to compliance outstanding or invalid documentation queried with client/intermediary all verification evidence attached and checklist marked complete 📊 kyc operational overview 📊 kyc operational indicators identity verification sla < 4 business hours pep review turnaround same business day outstanding documentation aging < 10 working days manual review rate < 8% 🔄 continuous improvement priorities reduce repeat document submissions improve sanctions screening match quality increase straight through verification rates standardise intermediary evidence packaging 👤 natural persons identity document verified (smart id, id book or passport) identity number validated against the identity verification service residential address evidence (< 3 months) on file sanctions and pep screening completed, report attached source of funds noted where premium exceeds the threshold in the cdd policy 🏢 juristic entities registration documents verified against the companies registry registered and trading addresses evidenced beneficial owners identified down to the ownership threshold in the cdd policy each beneficial owner screened (sanctions and pep) authorised representative's identity verified and mandate confirmed ⚠️ regulatory obligation all sanctions and politically exposed person (pep) matches must be escalated to compliance immediately under no circumstances may onboarding proceed before clearance or rejection is formally recorded 🛡 outcomes and actions result action all checks pass record pass, proceed to policy creation pep identified enhanced due diligence, compliance approval before cover sanctions hit stop no cover escalate to compliance same day do not tip off the client documents outstanding pend max 10 working days, then decline as incomplete 🔎 operational guidance and evidence quality requirements identity evidence must be clear, legible and unexpired residential address evidence older than 3 months is not acceptable unless specifically approved under the cdd policy screening reports must be attached to the policy record before completion escalated pep reviews require compliance commentary and final disposition notes repeat onboarding delays should be included in operational qa trend reviews 🧾 records and evidence evidence for every checked item must be attached to the policy record before the checklist is marked complete