
Transaction Compliance Manager
1 week ago
Transaction Monitoring and Sanction Screening Specialist
Job Overview:This position plays a vital role in safeguarding our organization from financial crime by effectively managing and executing anti-money laundering (AML) and counter-terrorist financing (CTF) activities, ensuring compliance with regulatory requirements.
Main Responsibilities:- Transaction Monitoring:
- Review and analyze alerts generated by the Transaction Monitoring System (TMS) for unusual or suspicious activity.
- Investigate flagged transactions and escalate findings to senior management or relevant authorities as necessary.
- Document investigation results and maintain proper records for audit and compliance purposes.
- Sanction Screening:
- Conduct real-time and periodic screening of customer data against sanctions, watchlists, and politically exposed persons (PEP) databases.
- Investigate and resolve matches or 'hits' identified during the screening process.
- Ensure accurate reporting of confirmed matches in accordance with internal and regulatory guidelines.
- Compliance Management:
- Stay updated on AML/CTF laws, sanctions regulations, and compliance best practices.
- Assist in developing, implementing, and enhancing policies, procedures, and controls related to TMS and sanction screening.
- Reporting and Coordination:
- Liaise with internal stakeholders to address queries related to TMS alerts and sanction screening processes.
- Prepare periodic and ad hoc reports on monitoring and screening activities for internal stakeholders and regulators.
- System Optimization:
- Collaborate with IT and vendor teams to optimize the TMS and sanction screening tools.
- Test and validate system updates or changes to ensure operational efficiency and accuracy.
- Training and Awareness:
- Provide training and guidance to team members on the use of TMS and sanction screening tools.
- Raise awareness about the importance of AML/CTF and sanctions compliance within the organization.
- Enhanced Due Diligence (EDD) and Customer Due Diligence (CDD):
- Ensure compliance with Enhanced Due Diligence (EDD) and Customer Due Diligence (CDD) processes.
- Conduct thorough EDD on high-risk customers and ensure all CDD information is accurate and up-to-date.
- Implement and monitor ongoing EDD and CDD procedures to mitigate potential risks.
- Payment Screening:
- Set up Payment Screening post-pilot.
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