The Financial Crime analyst is responsible for undertaking daily review of transaction monitoring alerts across Corporate Banking customers including financial institutions, public institutions and multi-national corporates. Additionally, customer transactions will be reviewed as part of periodic and event-driven customer KYC reviews.
Our client is a major UK retail and commercial bank with 14 million active customers.
The Financial Crime Analyst reports into the Transaction Monitoring Manager and will support the Financial Crime Operations team by analysing alerts for potentially suspicious activity in relation to Money Laundering and Terrorist Financing.
- Review escalated alerts following agreed guidelines and procedures for investigation, engaging with relevant stakeholders including the client on-boarding team, payments processing and settlements teams, as well as front-office relationship managers etc. as required.
- Perform investigations using a variety of tools including internal systems, internet searches, proprietary and 3rd party databases.
- Analyse the transactional information in light of the customer profile to identify risks, trends and potential suspicious activity in accordance with internal policy and regulatory standards.
- Escalate any queries regarding potentially suspicious activity or heightened areas of FC risk outside of the TM process (i.e. Sanctions) to the Transaction Monitoring Manager as a first point of escalation.
- For correspondent banking (and/or nostro/vostro) transactions, manipulate and categorise the data for investigation.
- Review the trends in activity for Wholesale Markets banking transactions including manipulating and categorising the data from booking and settlement system.
- Formalise and document a view (with supporting rationale) as to whether the potential suspicious activity has been identified.
- Raise internal suspicious transaction/activity reports directly with the SARU (the Suspicious Activity Reporting Unit) following the agreed internal escalation and review procedure.
- Contribute to the on-going improvement of transaction monitoring controls including the review and refinement of scenarios, thresholds and reports derived from the Bank's Transaction Monitoring solutions. Promptly and accurately prepare scheduled reports on workload status, highlighting emerging issues to the Transaction Monitoring Manager.
- Ensure transaction reviews are tracked, recorded and stored in line with internal policy and records management requirements.
Key Skills & Experience
- Experience in AML investigations is beneficial either from a previous role in AML or related discipline such as Fraud investigations, and/or a previous role in relevant transaction processing operations.
- Experience of working in the Financial Services industry with knowledge of Corporate banking products and services.
- Takes a structured approach to the investigation of alerts.
- Good analytical and financial interpretation skills with the ability to convert and consolidate complex data into simple messages and reports.
- Ability to work in a team with their FC peers, have good stakeholder engagement skills and be able to work effectively with front office, compliance and other key stakeholders.
- Prepares oral and/or written reports.
- Excellent verbal, written and interpersonal communication skills required.