With a solid track record of financial strength and stability, our client stands as a leading provider of financial services in the SADC region. We are currently looking for a Transaction Monitoring Analyst to integrate the Transaction Monitoring Control Department within the Group.
Responsible for the management of the transaction alerts generated for foreign currency transactions for the Group. The role is a critical element of the Bank’s defense against money laundering, terrorist financing and fraud.
- 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.
- 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 file.
- 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.
- Assist with the preparation of departmental Management information reports
- 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.
- Any other associated duties required from time to time to meet the departmental responsibilities and goals.
Requirements & Skills:
- Relevant compliance experience and/or suitable qualifications.
- Proven track record in similar function in the financial services industry with at least two years’ experience.
- Regulatory environment and risk management.