Job description
Role Overview
As a Transaction Monitoring Analyst, you will play a key role in preventing money laundering activities by detecting and reporting suspicious transactions. You’ll be responsible for managing reviews and analysis on alerted transactions, raising requests for information to Customers and escalating to the Risk and Compliance Team the Customer’s response and supporting document for final recommendation. Working closely with your team and cross-functional partners, you’ll ensure that alerts generated by the system are reviewed, investigated, and resolved to identify any suspicious activities. You’ll also contribute to improving internal processes and maintaining compliance with regulatory requirements. This role is ideal for someone who is detail-oriented, enjoys hands-on investigative work, possesses strong analytical skills, and thrives in a collaborative environment.
About the Client
The Client is a prominent Australian FinTech payment service provider with over a decade of experience in servicing B2B merchants. They specialise in providing connectivity to multiple Australian payment rails and account-to-account real-time payments, including BPAY, PayID, and PayTo. They aim to empower businesses to simplify their intricate payments workflows by facilitating seamless automation and reconciliation through robust payment APIs.
Key Responsibilities
Transaction Monitoring Review
- Manage daily alert volumes and investigations; escalate matters to Transaction Monitoring Manager as necessary.
Case Investigation
- Investigate escalated alerts and cases by reviewing transaction details, customer information, and relevant documentation to determine the legitimacy of the activity
Data Analysis
- Utilize transaction monitoring systems and databases to analyze financial data, flagging suspicious activities for further investigation.
Sending Request for Information
- Send formal requests to Customers to gather additional information about a transaction when suspicious activity is detected.
Reporting
Gathering information of the Platforms/Customers to be submitted to the Fraud Risk Manager. Prepare narratives and supporting information needed for filing Suspicious Activity Reports (SARs/RFI)
Provide data analysis reports upon request by the Risk and Compliance Team for due diligence. Required documentation of investigations thoroughly, by recording the details of the alert, the data you have considered, the basis of your conclusion and any evidence you have gathered that supports your findings.
Regulatory Compliance
- Stay up-to-date on current AML (Anti-Money Laundering) regulations and industry best practices to ensure adherence to local and international compliance standards.
Continuous Improvement
- Identify areas for process refinement and contribute to team discussions around operational efficiency and service quality.
Experience
At least 3 years’ experience in a Financial Crime/AML role, ideally within a tech-driven or regulated environment, e.g. fintech, banking, SaaS.
A working knowledge of Financial Crime frameworks, policies, procedures and processes.
Demonstrates ability to manage high volumes of Transaction Monitoring alerts and identify suspicious activities.
High level of accuracy and attention to detail.
Strong fluency in English (written and spoken), with sound ability to empathise with customer situations. Excellent interpersonal and problem-solving skills. Candidates will be required to complete a written response trial to demonstrate these skills.
Positive, self-motivated, and accountable, thriving in a fast-paced and dynamic environment.
Nice to have:
Knowledge of relevant regulations (e.g. AML/CTF regulations, including the AUSTRAC’s requirements)
Understanding of basic payments operations or reconciliation processes
Technical skills and understanding of using tools, and operate programs
Qualities
Resourceful, proactive, flexible, and comfortable working in a fast-paced environment.
Robust written and verbal communication skills.
Adept at identifying suspicious transactions, understanding regulatory frameworks, and collaborating effectively within a team.
Attention to detail, strong analytical abilities, and the capacity to quickly learn and adapt to evolving regulations.
Ability to interpret data and patterns discovered in it, problem solving skills.
Highly methodical and process-orientated for critical tasks, while still showing innovation when necessary.
Ability to define problem statements before jumping into solution mode.
Ability to multitask and perform effectively under pressure.
Be a fast-learner and easily adapt to new ways of working.
Ability to work effectively remotely— autonomously, or as part of functional or cross-functional teams.
Performance Metrics and Expectations
Review and resolution time for Transaction Monitoring Alerts.
Adherence to SLAs and protocols.
Contribution to knowledge base and process improvements.
