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Job Summary

Conduct investigation on suspicious transactions. Prepare high-quality suspicious transaction reports to the authorities concerned. Perform AML risk review / assessments. Establish and review the Bank’s AML / sanctions related policies and procedures.

Job Description

Transaction Monitoring and investigations Monitor the departmental queues for alerts on a regular basis throughout the working day ensuring management are aware of outstanding alerts at end of day by giving daily status as per KPI. Be familiar with the departmental systems/processes and their implementation. Review transaction monitoring alerts in line with prescribed procedures:

Investigate the individual alerts to determine if there is a potential suspicious transaction involved.
Follow the recommended standard investigation steps, in addition, assess if there is anything else unusual about a transaction, particularly based on experience of previous transactions.
Assess the transaction in the context of previous transactions and the client’s business/purpose of the account – if necessary, review the client’s file / details and build patterns of commons trends.
Assess the relevance of the geographies of the remitter and beneficiaries of the transaction where there are grounds for suspicion or a requirement for guidance in relation to an alert, escalate in line with the procedures.
Create and maintain accurate and concise records of all investigations undertaken including details on the rationale for any decisions made.

Seek to build an understanding of the profile of customers highlighted through the transaction monitoring alert process.

Provide input to the maintenance of the departmental procedures.

Provide advice and support to the Bank’s business units on the identification of areas of risk as a result of transaction monitoring trends. In carrying out its work, the FinCrime operation team is guided by the Financial Crime Risk Framework, which sets out the regulatory requirements and related legislation of anti-money laundering, anti-bribery and anti-corruption, anti-terrorism as well as economic sanctions.

The Analyst is responsible for executing investigations to identify relationships that pose money laundering, terrorist financing, proliferation financing, and sanctions risks.

The Analyst/Investigator compiles evidence and documentation in compliance with AML procedures and regulatory requirements prior to escalations of potential Suspicious Transaction Reports (STRs) to Money Laundering Reporting Officer (MLRO).

Ensure efficient identification and monitoring of suspicious activities and transaction. Any other associated duties required from time to time to meet the departmental responsibilities and goals.

Maintain a well-informed and all-inclusive knowledge of current money laundering and terrorist financing behaviors, issues, criminal typologies, industry best practices, regulations, and developing trends.

Support implementation of an effective AML Transaction Monitoring (TM) alert analysis and suspicious activity investigations program to ensure compliance to relevant AML/Sanctions laws and regulations.

Implement Transaction Monitoring techniques to support identification of risks around Money laundering, Terrorism Financing, Economic Sanctions, and Operational risks consistent with the bank’s group Enterprise Risk Management framework (EMRF) and Risk Management and Compliance Program (RMCP).

Monitor potentially suspicious patterns of activity and recommend changes to rules, parameters, and thresholds maintained within the transaction monitoring system to ensure its continued effectiveness.

Technical skills / Competencies.

Bachelor’s degree in business, finance, law enforcement, legal studies, or a related field; may be substituted with equivalent work experience in Financial Services, Law Enforcement, Banking, or a related field.

1-2 years of Experience in AML and Financial Crime field.
Proficiency in data analysis and the use of analytical tools
Excellent communication and report-writing skills.
Attention to detail and strong problem-solving abilities
Understanding of the concept of process and risk management; and banking and auditing
Strong aptitude for easy and quick learning.
Interpersonal competencies – assertiveness, team player, oral/written communication.
Able to communicate effectively with a culturally diverse agent and consumer base.
Experience working with highly confidential information.
Capable of sharing knowledge, mentoring, and training other team members.
Strong sense of ownership and responsibility.
Must be proficient in Microsoft Office.

Education

Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)