POSITION OVERVIEW
A Compliance Analyst’s primary responsibility is to aid risk mitigation by following the client&039;s rules, policies, and instructions in accordance with AML, CFT and other legislation. The Analyst is responsible for accurately analyzing all user data, documenting compliance with company processes. They will perform screening of Sanctions alerts, carry out Transaction Monitoring, review compliance reports, and inspect activity to identify potential compliance issues. The Analyst will provide support to the AML function since it is an important part of the 1st line of defense against Money Laundering(ML) /Terrorist Financing (TF). They must have the motivation and expertise to lead Payreto to be successful in the Compliance field. In addition, here are the essential soft traits expected of the Payreto team that must be demonstrated: self- organization, independence, flexibility, and smartness.
WHAT WILL YOU DO?
Sanctioned Lists Screening reviews
Reach out to concern partners or their managers to gather additional information.
Barring individuals from transactions reported as fraudulent or scam by the partners and customers submitting dubious/fictitious names on their transactions.
Review triggered alerts from customers&039; transactions with potential name match to OFAC, United Nations, European Union and others.
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.
Transactions Monitoring
Identify the red flags associated with transactions or customer&039;s data using wire transfers.
Investigate automatic alerts generated by the case management tool to detect patterns in transactions and relationships across multiple senders/beneficiaries.
Determine whether to accept cases, ask for supporting documents or escalate findings along with filing an Unusual Activity Report to MLRO.
Communicate with sending/receiving partners as needed to identify additional information needed to support final disposition of the case.
Risk word Screening
Escalate the transaction to MRLO via Unusual Activity Report tool if there is suspicion that the transaction is related to financial crime/terrorist financing.
Scanned against the sender first and last name and the beneficiary first and last name to detect transactions that may fall outside of product scope or the company&039;s risk appetite and to detect potential financial crime and terrorist financing.
AML Reporting
Generate a monthly report for internal usage or upon client request.
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.
Fraud Reporting
Respond to any requests for information on fraud reports received from various institutions.
Other Tasks
Assist in ad hoc work assigned by the immediate supervisor.
Suggest process improvements.
