Money Laundering Detection Specialist

We are seeking a highly motivated and detail-oriented professional to join our dynamic Financial Crime Management team. The successful candidate will play a crucial role in identifying and preventing money laundering activity within our organization, protecting our customers and our reputation.

This involves using advanced analytical techniques, innovative technologies, and a deep understanding of financial crime risks to detect suspicious activity early in the process.

• Build procedures on monitoring financial crime activity in line with regulatory requirements.
• Expedite reporting for all financial crime cases identified.
• Continuously work on improving financial crime detection mechanisms including automation of business-as-usual processes, system upgrades, and data analytical skills development.
• Feed insights into various stakeholders to combat reoccurrence of financial crime typology at the onboarding stage, transaction monitoring, and other relevant areas.
• Work closely with internal stakeholders managing core anti-money laundering (AML), know-your-customer (KYC), and fraud-related matters.
• Work closely with other stakeholders including operations and business units for queries related to financial crime.
• Develop and maintain advanced analytical models and algorithms to identify potential financial crimes based on transactional data, behavioral patterns, and other relevant information.
• Monitor and analyze transaction data in real-time or near real-time to identify suspicious patterns indicative of financial crime activity.
• Investigate suspicious activities flagged by detection systems, conducting thorough due diligence, and leveraging various data sources to determine the likelihood of financial crime involvement.
• Develop and deliver training programs to colleagues on financial crime detection techniques and best practices.
• Collaborate with other departments, including compliance, investigations, and operations, to share information and coordinate responses to identified financial crime activity.
• Stay up to date on emerging financial crime techniques, technologies, and regulatory requirements.
• Maintain comprehensive documentation of investigations, findings, and actions taken.
• Contribute to the continuous improvement of our organization's financial crime detection capabilities by identifying gaps and proposing solutions.

Requirements:

8-10 years of experience in AML/KYC/Compliance/Fraud monitoring, strong analytical and communication skills.

Education/Preferred Qualifications:

Post-Graduate/CA/MBA/Graduate degree.

Core Competencies:

Strong analytical and decision-making/problem-solving skills with the ability to identify patterns and anomalies in large datasets, in-depth understanding of AML and Fraud risks, knowledge of KYC and Customer Due Diligence, project management, team handling, effective communication skills, industry connections.

Technical Competencies:

Strong proficiency in MS Excel (Macros and Pivots), MS Access, MS Word. Basic usage of MS PowerPoint. Qualification in a related field (e.g., finance, accounting, computer science, data analytics).

Work Relationship:

• Able to work closely with team members within the Financial Crime Management unit.
• Ability to work closely with stakeholders including business, operations, and other units to manage risks emanating from financial crime.
• Ability to communicate effectively and possess good presentation skills.
• Ability to work independently and as part of a team in a fast-paced environment.
• Knowledge of relevant financial regulations and compliance requirements is essential.
• Experience with AML/KYC systems and processes is preferred.
• Strong attention to detail and accuracy.