Transaction Monitoring Analyst

1 month ago

Gurugram, India 2coms Full time
Job Description

Transaction Monitoring – Case Investigations

Job location-Gurugram
CTC upto 40000
Shift-General

Please note: This is a contract job opportunity for 6 months under the payroll of 2COMS, subject to be converted into permanent role on successful completion of contract period.
PURPOSE OF JOB  

To perform transaction monitoring and analysis for which alerts / cases are generated by the system so as to determine and escalate / report any suspicious activity related to money laundering or terrorism financing.


Responsibilities

 

· Ensure accurate investigation of alerts and cases adhering to the laid down procedures.

· Close alerts, cases where there are no suspicious or refer alerts to Business Compliance unit/s where further information is required, or assistance is required to take a decision due to the complexity of the issue.

· Obtain opinion from Unit Manager for conclusion of cases and escalate cases to business compliance for further review, as applicable.

· Escalate issues and confirmed true matches.

· Maintaining and providing of accurate and meaningful MI as instructed on all aspects related to FCRM alerts/ cases within the expected timelines.

· Undertaking any testing requirements on the AML system that is required on account of system enhancements/upgrades and ensuring that such tests are conducted accurately and within the prescribed deadlines working with business compliance and system management team.

· Send reminders to business for overdue on information requests.

· Monitoring and mitigating risk in a timely and effective manner whilst keeping Senior Management, Compliance fully informed of action taken and the outcomes.

· Escalating issues to Senior Management, Compliance for information and necessary action.

· Timely reporting of potential Suspicious Transaction to Business compliance

· Investigation and resolution of such matters in a timely manner

· Meet Quality levels as per standards laid down in TM procedure manual.

· Complete corrective actions for issues raised by QA unit.



Requirements

Minimum Work Experience Requirements & Education

· Minimum of 3 years of working experience in a transaction monitoring unit for a multinational retail bank

Bachelors Degree Education

Must Have Skills

· Ability to understand Complex Regulatory and Compliance requirements within the retail banking space.

· Transaction Monitoring experience and good knowledge of financial crime compliance within the global banking sector

· Analytically sound to take decisions on whether an alert should be escalated for further investigation or close if further review is not warranted.

· Sound knowledge required in Banking Laws and requirements like BSA/AML/KYC

· Ability to understand Complex legal entities and transactions between similar counterparties and be able to judge whether the transaction is suspicious.

· Experience of working on systems like Actimize, Lexis Nexis, Adverse Media interpretation

· Knowledge of banking products like Insurance, Annuities, Mortgages, loans, credit cards etc.

· General awareness about money laundering trends and terrorism financing

· Knowledge of regulations like banking secrecy act, USA Patriot Act, OFAC regulations, FinCEN (financial crimes enforcement network) etc.

· Knowledge of sanctions, SARs (suspicious activity reports), CTRs (currency transaction reports) etc.

· Knowledge of high-risk countries, businesses, PEPs (politically exposed persons) etc.

· Advanced Proficiency required in English Language to create disposition narratives.

· Perform assignments/deals/tasks of high complexity and resolving queries.

Basic domain knowledge about US Bank Regulatory challenges in transaction monitoring & subsequent risk management




Requirements
Minimum Work Experience Requirements & Education · Minimum of 3 years of working experience in a transaction monitoring unit for a multinational retail bank Bachelors Degree Education Must Have Skills · Ability to understand Complex Regulatory and Compliance requirements within the retail banking space. · Transaction Monitoring experience and good knowledge of financial crime compliance within the global banking sector · Analytically sound to take decisions on whether an alert should be escalated for further investigation or close if further review is not warranted. · Sound knowledge required in Banking Laws and requirements like BSA/AML/KYC · Ability to understand Complex legal entities and transactions between similar counterparties and be able to judge whether the transaction is suspicious. · Experience of working on systems like Actimize, Lexis Nexis, Adverse Media interpretation · Knowledge of banking products like Insurance, Annuities, Mortgages, loans, credit cards etc. · General awareness about money laundering trends and terrorism financing · Knowledge of regulations like banking secrecy act, USA Patriot Act, OFAC regulations, FinCEN (financial crimes enforcement network) etc. · Knowledge of sanctions, SARs (suspicious activity reports), CTRs (currency transaction reports) etc. · Knowledge of high-risk countries, businesses, PEPs (politically exposed persons) etc. · Advanced Proficiency required in English Language to create disposition narratives. · Perform assignments/deals/tasks of high complexity and resolving queries. Basic domain knowledge about US Bank Regulatory challenges in transaction monitoring & subsequent risk management

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