Data Risk Analyst
The Analyst is responsible for executing investigations to identify relationships that pose money laundering, terrorist financing, fraud, and sanctions risks.
The Analyst/Investigator compiles evidence and documentation in compliance with AML procedures and regulatory requirements prior to escalations of potential Suspicious Transaction Reports (STRs) to Money Laundering Reporting Officer (MLRO).
Ensure efficient identification and monitoring of suspicious activities and transactions
- Maintain a well-informed and all-inclusive knowledge of current money laundering and terrorist financing behaviors, issues, criminal typologies, industry best practices, regulations, and developing trends.
- Support implementation of an effective AML Transaction Monitoring (TM) alert analysis and suspicious activity investigations program to ensure compliance to relevant AML/Sanctions laws and regulations.
- Implement Transaction Monitoring techniques to support identification of risks around Money laundering, Terrorism Financing, Economic Sanctions, Fraud, and Operational risks consistent with the bank’s Financial Crime Compliance Risk Governance Framework.
- Monitor potentially suspicious patterns of activity and recommend changes to rules, parameters, and thresholds maintained within the transaction monitoring system to ensure its continued effectiveness.
- Research, analyze, and investigate Transaction Monitoring alerts behavior for potential money laundering or terrorist financing, fraud, and sanctions related risks in accordance with the Bank policies and procedures.
- Determine if alerts can be closed or warrant further investigation and elevation to an active investigation in the case management system.
- As necessary, use available research tools (public internet sources as well as third party sites) to identify information concerning transactions identified for further investigation.
- Request additional information by contacting various business personnel throughout NMB Bank to determine if facts and circumstances surrounding unusual transactions warrants closure of the investigation or if further reporting is warranted.
- Ensure that detected information regarding AML & Sanctions violations are effectively communicated to the Head of Compliance (MLRO) in a timely manner per agreed SLAs.
- Provide regular reports and communication on the status and health of the Transaction Monitoring alert analysis and suspicious activity investigations program to the Manager TM and Head of Compliance.
- Ensure strong operational understanding of TM screening systems and ability to propose changes to support functional requirements gathering in cases of a need for systems upgrade.
- Ensure the production of timely and effective AML Transaction Monitoring-related management information (“MI”) and other applicable information to Manager TM.
- Ability to propose, created, test and modify new and existing detection scenarios in the system based on various trend reports and requests from TM Rules Finetuning committee, Head of Compliance and CRCO.
- Implement strategies to address increases in alert volume by enhancing effectiveness and efficiency of alert reviews while maintaining ability to address risk.
- To liaise with product teams and get thorough understanding of the banking products and make necessary changes in the fraud rules.
- Perform analytics on rules performance, report non- performing rules, their root cause analysis and plans for improvements.
Skills and Knowledge
- Knowledge of Transaction Monitoring systems, analytical and investigative processes and reporting requirements.
- Ability to identify, escalate and communicate issues to management in an effective and succinct manner
- Strong knowledge of AML laws & Sanctions regulations and their application.
- Advance knowledge of Excel, Access, Word, PowerPoint, and Projects.
- Excellent written, verbal communication, and analytical skills
Qualifications and Experience
- A minimum of Bachelor’s degree or equivalent in business, economics, Finance, Risk management, law, Computer science or related field.
- Holder of Certified Anti-Money Laundering Specialist (CAMS) certification, or intention to pursue within 12 months of employment.
- Knowledge of databases, networks (LAN, WAN) and patch management
- Minimum 2- 4 years in financial services operations and 3 years’ experience with Transaction Monitoring systems.
- Experience as an AML investigator in a transaction monitoring capacity or equivalent experience or education
- Experience with different well recognized AML Systems strongly preferred.
- Knowledge of system security and data backup/recovery;
- Familiarity with various operating systems and platforms
NMB Bank Plc is committed to creating a diverse environment and is proud to be an equal opportunity employer.
Please be advised that if you are not contacted within 14 working days of the advert closing date then you have not been shortlisted.
“NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it”.
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