Compliance Specialist - AML Transaction Monitoring

Industry Category	Services	Position	Lawyer / Legal Asst
Recruitment Department		Number Of Recruits	several
Work Location	All Cities	Nature Of Work	Full Time
Gender Requirements	Male	Marriage Requirement	No marital status restrictions
Education Level	College Diploma	Work Experience	No work experience restrictions
Age Requirement	Above 18 years old	Salary Package	Negotiable
Updated Date	2022-10-22	Valid Until	Long-term validity

As a Compliance Specialist – AML Transaction Monitoring, you are expected to provide specialized support through datagathering, investigation and data analysis to resolve simple to complex Compliance-related cases. You are also expected tocontribute to the overall performance of the team by providing accurate, concise, and timely reports, and hands-on executionof specialized tasks. You are expected to resolve complex cases appropriate to the account assigned and deliver accurateadvice to your client, internal or external.The successful candidate will use his / her subject matter expertise in aiding risk mitigation by following the client’s rules,policies, and instructions in accordance with AML, CFT, and other legislations. He / She will help Payreto’s financial insitutionclients in identifying potential financial crime by determining suspicious transactions and reporting these transactions to theclient’s MLRO.Perform risk-based investigations on TM alert cases, identify activity that could be indicative of money laundering,terrorist financing, following the bank's standard TM investigation process and procedures. Analyze customerinformation and transaction pattern to assess whether alerted activity is or is not normal in the context of what isexpected and known about the customer and who they are transacting with. Conduct counterparty screening throughthe Customer Due Diligence system and review historical transactions. document investigations thoroughly, recordthe evidence gathered that supports the conclusion. Provide recommendations to Senior TM Analyst and providerationale for alert closure or escalation. Requirements: Perform risk-based investigations on TM alert cases, identifyactivity that could be indicative of money laundering, terrorist financing, following the bank's standard TMinvestigation process and procedures. Analyze customer information and transaction pattern to assess whetheralerted activity is or is not normal in the context of what is expected and known about the customer and who they aretransacting with. Conduct counterparty screening through the Customer Due Diligence system and review historicaltransactions. document investigations thoroughly, record the evidence gathered that supports the conclusion.Provide recommendations to Senior TM Analyst and provide rationale for alert closure or escalationKey Responsibilities AML Compliance and Transaction MonitoringPerform risk-based investigations on TM alert cases, identify activity that could be indicative of money laundering, terrorist financing, following the client’s standard TM investigation process and procedures.Analyze customer information and transaction pattern to assess whether alerted activity is or is not normal in the context of what is expected and known about the customer and who they are transacting with.Conduct counterparty screening through the Customer Due Diligence system and review historical transactions.document investigations thoroughly, record the evidence gathered that supports the conclusion.Provide recommendations to client’s MLRO and provide rationale for alert closure or escalation.Identify and escalates to client’s any regulatory compliance risks associated with the file reviews completedPerform continuous monitoring of customers including investigating Adverse Media and Politically Exposed Person alerts.Communicate with the team as needed to identify additional information needed to support final disposition of the case.Due Diligence (KYB / KYC)Review client files for conformance with applicable AML policies, procedures and regulatory requirementsPerform required checks (i.e. PEP and Sanction Screening, Adverse Media, Identifying Ultimate Beneficial Owners [UBO] etc.) in order for Payreto’s client to make a decision whether to onboard a customer or not.Request necessary documentation from Payreto client’s customers / partners to finalize the due diligence process.Subject Matter Expert (SME)Provide support and functional knowledge as it relates to compliance with applicable AML laws, rules and standardsProvide support as requested to Client’s MLRO as necessary to resolve compliance issues, including actions in response to Regulatory exam and Audit findingsIdentify and escalates to MRLO any regulatory compliance risks associated with the work / client’s businessTrain staff regarding compliance, transaction monitoring, due diligence as and when necessary;evaluate or test software relating to AML compliance and Transaction MonitoringParticipates in additional projects or initiatives, as directed by Payreto or the client.Update procedures / documentation and the team as and when necessary.Client Satisfaction and Account ManagementFind win-win solutions in handling client complaints and escalations in a timely manner.Regularly communicate with the client to better understand current and future needs that might generate more revenue for Payreto.Exert best efforts to retain clients without compromising Payreto’s operations and profitability.Other TasksAssist the client or Payreto supervisors in other ad-hoc tasks as instructed.Recommend and proactively implement opportunities for increased compliance assurance departmental efficiency.Extend work hours when needed.REQUIRED QUALIFICATIONS:Ideally with a Bachelor's degree in Law, Business administration, Accounting, Finance or another related field.At least 2-5 yrs experience in AML Compliance and Transaction Monitoring at least 1 year experience in KYB, KYC (or company due diligence) related work.Must have proficiency in MS Office Suite and G Suite (Google).Good written and verbal communication and customer service skills.Should understand transactions for a bank, digital wallets, or even crypto.Detail-oriented and must have strong cognitive, comprehension, and strong analytical skills as well as strong desire to learn.