Position Overview
A Compliance Specialist's primary responsibility is to play a pivotal role in risk mitigation by adhering to the client's regulations, policies, and directives in alignment with AML, CFT, and other relevant legislation. The Specialist will be tasked with meticulously analyzing user data, ensuring compliance with company processes, and documenting findings. This role involves conducting screenings of Sanctions alerts, executing Transaction Monitoring, scrutinizing compliance reports, and examining activities to detect potential compliance issues.
WHAT WILL YOU DO
Sanctioned Lists Screening reviews
- Review triggered alerts from customers transactions with potential name match to OFAC, United Nations, European Union and others.
- Reach out to concern partners or their managers to gather additional information.
- Confirm or discount the alerts using the additional information received from the sending/receiving partners by checking the name and other data points to confirm a true match.
- Barring individuals from transactions reported as fraudulent or scam by the partners and customers submitting dubious/fictitious names on their transactions.
- Review escalations from Compliance Analysts
Transactions Monitoring
- Investigate automatic alerts generated by the case management tool to detect patterns in transactions and relationships across multiple senders/beneficiaries.
- Identify the red flags associated with transactions or customer's data using wire transfers.
- Communicate with sending/receiving partners as needed to identify additional information needed to support final disposition of the case.
- Determine whether to accept cases, ask for supporting documents or escalate findings along with filing an Unusual Activity Report to MLRO.
- Review escalations from Compliance Analysts
AML Reporting
- Prepare reports by collecting, analyzing, and summarizing information and putting it in required formats. Write out fact-filled reports for the clients or compile relevant statistics for a regulatory agency.
- Create SAR (Suspicious Alert Reporting) and STR (Suspicious Transaction Reporting) for internal escalation.
- Generate a monthly report for internal usage or upon client request.
Data Analysis
- Resolve simple to complex compliance cases by gathering information and analyzing requests and by following the guidelines and instructions by the client.
- Resolve Level 1 Compliance tasks in the absence of complex cases.
- Provide and maintain necessary detailed documentations, process flows, presentations in detail and accuracy based on client requirements.
- Maintains quality service by assisting the Team Lead in performing Quality Monitoring audits.
Client / Customer Engagement
- Collaborate with Clientâs Money Laundering Reporting Officer, Clientâs Account Managers and other Account
- Managers, Operations Head, Business Development, Project Managers to see complex resolution matters are fully resolved.
Data Processing
- Acquire and validate data required by client(s) from primary and/or secondary sources through designated systems, email, phone or as prescribed by client(s)
- Maintain and update and/or encode data requirements by following program techniques and procedures as subscribed by assigned client(s).
- Adhere to established procedures and guidelines while providing quality support both internally and externally to meet and exceed department standards.
- Ensure the accurate and timely delivery of assigned solutions according to the agreed requirements of Payreto and the assigned client(s).
- Ensures an accurate and on-time delivery of reports to clients based on clientâs KPIs.
WHAT YOU SHOULD HAVE
- Bachelor's degree in Law, Business administration, Accounting, Finance or another related field.
- 2 â 3 yearsâ experience in KYB, KYC, AML Compliance related work.
- Must have proficiency in MS Office Suite and G Suite (Google).
- Good written and verbal communication and customer service skills.
- Detail-oriented and must have strong cognitive, comprehension, and strong analytical skills.
- Must be adept in using online search engines to find relevant information.
- Must have average logical and verbal reasoning.
- Ability to provide correct decisions based on rules and policies.
SHIFT SCHEDULE
