Fraud Investigation / Transaction Monitoring ( banking)

The AML Analyst / Officer / Investigator is responsible for supporting the company's efforts in detecting, preventing, and reporting money laundering activities. The role involves monitoring transactions, investigating suspicious activities, ensuring compliance with relevant laws and regulations, and preparing reports for regulatory bodies and senior management.

Key Responsibilities :

• Transaction Monitoring :
• Monitor daily transactions for signs of suspicious activity, including large or unusual transactions, patterns of behavior, and activities that do not align with customer profiles.
• Analyze transaction data and review alerts generated by AML monitoring systems.
• Investigations and Due Diligence :
• Investigate suspicious activities, performing in-depth research using internal databases and external sources to gather relevant information.
• Conduct Know Your Customer (KYC) checks and Enhanced Due Diligence (EDD) on high-risk clients to verify their identity and assess potential risks.
• Follow up on red flags and escalate cases when necessary.
• Regulatory Compliance :
• Ensure compliance with anti-money laundering laws and regulations (such as the Bank Secrecy Act, FATF guidelines, and local regulatory requirements).
• Prepare and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) to relevant authorities in a timely manner.
• Stay up-to-date with regulatory changes and ensure policies are updated accordingly.
• Reporting and Documentation :
• Prepare and submit regular reports on AML activities, suspicious transactions, and investigations to management.
• Maintain accurate and thorough documentation of all investigations and actions taken.
• Training and Awareness :
• Assist in the development and delivery of AML training programs for staff, ensuring awareness of policies and procedures.
• Promote an AML culture within the organization and provide guidance to other employees on identifying and reporting suspicious activity.
• Collaboration with Teams :
• Work closely with the compliance, legal, risk, and operations teams to ensure a coordinated approach to AML efforts.
• Collaborate with external law enforcement agencies or regulators when necessary.
• Risk Management :
• Help identify, assess, and mitigate AML risks across the organization.
• Participate in risk assessments and internal audits to strengthen the institutions AML program.

Qualifications :

Skills Required

Fraud Analytics, Data Mining, Transaction Monitoring