Transaction Monitoring Job Description
Transaction monitoring
provides anti Money Laundering (AML) subject matter expertise to investigations/operational staff to help them understand AML requirements as they relate to their function.
Transaction Monitoring Duties & Responsibilities
To write an effective transaction monitoring job description, begin by listing detailed duties, responsibilities and expectations. We have included transaction monitoring job description templates that you can modify and use.
Sample responsibilities for this position include:
Comply with client monitoring call schedule and interview recipients and/or responsible representatives
Conduct service initiation confirmation telephone assigned newly certified recipients
Perform prompt follow up on recipient reports of services not initiated
Conduct assigned recipient satisfaction surveys
Complete Telephone Monitoring Checklist in LOCS on calls transferredfrom the automated outbound IVR dialer or received from recipients and/or responsible representatives reporting status changes or other issues
Document recipient interactions, any recipient issues or complaints, and outcomes immediately in LOCS
Comply with complaint procedure (see Appendix C) and route provider issues via LOCS to the Provider Monitoring Unit within one business day
Comply with change of status procedure and route reported status changes via LOCS to the appropriate client assessment specialist within one business day
Escalate serious recipient service issues to supervisor as appropriate
Escalate and refer appropriate complaints to OAAS for Adult Protective
Transaction Monitoring Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Transaction Monitoring
List any licenses or certifications required by the position: CAMS, CFE, ACH, CHIPS, SWIFT, USD, ACAMS, CFS, CFCS, ACAM
Education for Transaction Monitoring
Typically a job would require a certain level of education.
Employers hiring for the transaction monitoring job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Business, Education, Statistics, Mathematics, Economics, Finance, Computer Science, Writing, Financial Services, Accounting
Skills for Transaction Monitoring
Desired skills for transaction monitoring include:
Laws applicable to money laundering
OFAC requirements
Suspicious Activity Reporting requirements
US Treasury AML guidelines
AML laws and their application to the supported products/business lines
Global AML/CFT/Fraud laws and regulations
USA Patriot act
ACH
USD payment systems
CHIPS
Desired experience for transaction monitoring includes:
Service Services or Elderly Protective Services according to OAAS policy (See Appendices C, D and E)
Participate in departmental “team effort” functions and projects
Participate in Continuous Quality Improvement (CQI) process
Knowledge of healthcare and/ or Medicaid preferred
Able to handle multiple tasks that are time sensitive
Strong organizational and follow up capabilities
Transaction Monitoring Examples
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Transaction Monitoring Job Description
Job Description Example
Our innovative and growing company is hiring for a transaction monitoring. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for transaction monitoring
- Manage automated TM implementation activities including involvement in sourcing of data across numerous systems, overseeing testing and tuning efforts, managing business requirements and supporting Program Management Office (PMO) activities
- Provide support and advice to the Global FCC team, Regional FCC teams, Risk and Operational partners in the application of Transaction Monitoring systems and solutions
- Work with the RMG PMO, Technology, Legal, Risk and other functions and business areas to ensure all stakeholders are engaged throughout lifecycle of Transaction Monitoring related projects
- Establish and maintain communication with key stakeholders at Group level and cross cluster to ensure ongoing effectiveness of the Transaction Monitoring solutions
- Implement standards for risk relevant Management Information (MI) and Analytics for Transaction Monitoring, ensuring consistent MI
- Assist in the tuning and implementation of monitoring rules to prevent and detect money laundering, fraud or other financial crime responding to emerging trends
- Influence front office and Operations practices to ensure accurate and timely reporting
- Monitoring, reviewing and investigating transactions
- Reporting suspicious transactions
- Carrying out surveillance and periodic reviews
Qualifications for transaction monitoring
- 2+ years of hands-on experience with Oracle Mantas AML platform
- Experience in Oracle Mantas Product installation/upgrades on Unix/Linux
- Solid understanding of, or the ability to quickly gain such, of applicable laws, regulations, and guidance in the subject area the desire to keep up with changes in a complex environment
- Relevant work experience in an AML Transaction Monitoring role
- Strong understanding of financial crime compliance (AML/CTF/ABC/ Sanctions) obligations with demonstrated experience at a senior level
- A thorough knowledge of institutional banking products and services, and the associated financial crime risks
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Transaction Monitoring Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of transaction monitoring. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for transaction monitoring
- Support the development and maintenance of an effective automated monitoring system and related KPIs
- Maintain knowledge of AML risks and regulations related AML/ATF regulatory expectations in all jurisdictions where the LOB operates
- Ensure the rules and alerts written for monitoring high-risk products are appropriately tuned and maintained
- Assist the Head of the Transaction Monitoring team with the management of the processes end-to-end across the largest business lines in the Americas
- Assist with the oversight of Investigation and Research, Field Inquiries Quality Assurance, Systems Validations, and Special Investigations
- Assist with the oversight of a number of business-critical projects
- Assist with the maintenance of existing Key Operating Procedures and the development of new Key Operating Procedures covering all aspects of the on-boarding and current client process
- Assist with the oversight of the ongoing Quality Assurance and Testing efforts to ensure that the monitoring parameters employed at the Bank remain appropriate by internal, industry, and regulatory standards
- Follow regulatory changes and other developments in the industry, so that the candidate is in a position to recommend, implement, and drive changes to the monitoring system, including to the typologies and thresholds employed
- Work with senior Business workstreams to raise and address AML issues and to implement any monitoring enhancements that are triggered and/or required by new products or changing business models
Qualifications for transaction monitoring
- Strong understanding of Corporate and/or Private Banking AML
- Knowledge of Financial Crime regulations
- Knowledge in Detica / Norkom will be advantageous
- Experience in the financial services industry and/or BSA/AML regulations with sound banking knowledge of product and service offerings
- Demonstrated experience with data mining technical tools (e.g., SAS MF or PC based, SPSS, STATA, SQL, Business Objects, Brio) for purposes of conducting analysis to drive business decisions
- Fluency in Mandarin - reading and writing
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Transaction Monitoring Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of transaction monitoring. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for transaction monitoring
- Assist with various examinations
- Define KPI with LOB stakeholders, develop and implement risk-based, effective and efficient rules, lead a diverse team of systems and analytics professionals based in onshore, near shore, and offshore teams, and engage risk and audit partners to ensure ongoing review and transparency achieved
- Oversee AML optimization across multiple LOBs (including correspondent banking, retail, commercial, brokerage, and trade finance) and multiple Transaction Monitoring Systems (Mantas and Smaragd), ensure sound risk coverage, adequate quantitative model assessment and validation, and data quality completeness and integrity
- Support all review and audit functions
- Established standards for segmentation methodology, scenario tuning methodology, peer grouping, BTL sampling (Below The Line) methodology
- Facilitate the Transaction Monitoring process for the Research, Monitoring and/ or Analytic teams
- Perform trend analysis, univariate and multivariate analysis for scoring and thresholds for AML behavioral scenarios
- Follow regulatory changes and other developments in the industry, so that the candidate is in a position to recommend and drive changes to the monitoring system, including to the typologies and thresholds employed
- Work with a team of managers that oversee ongoing Quality Assurance and Testing efforts to ensure that the monitoring parameters employed at the Bank remain appropriate
- Work to ensure that all work queues remain up-to-date, and sufficient to meet the expectations of the Business, Regulators, Internal Audit, and Compliance
Qualifications for transaction monitoring
- Minimum of eight years proven and progressive Compliance, Legal, and/or Audit experience or equivalent
- Demonstrated knowledge of Anti-Money Laundering, and particularly AML monitoring systems, with a strong emphasis on covering corporate, investment, and commercial banking activities
- Solid knowledge of OFAC and Sanctions
- Experience managing teams of employees, particularly in remote locations
- The ability to project confidence, professionalism, and respect in all dealings with business leaders, other managers, and staff
- Experience with prioritizing conflicting tasks
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Transaction Monitoring Job Description
Job Description Example
Our innovative and growing company is hiring for a transaction monitoring. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for transaction monitoring
- Interact with global counterparts, in order to ensure a consistent approach to AML monitoring throughout DB
- Performing AML transaction monitoring work across the various businesses within the bank
- Performing AML transaction reviews and investigations
- Overseeing and conducting QA on transaction monitoring processes across the region
- Participate in monitoring-related projects and testing
- Providing subject matter expertise to our Financial Crime Transaction Monitoring team on the selection, functional requirements, design and testing of Transaction Monitoring solutions
- Providing leadership and guidance on the best approach to analyzing complex Financial Crime business issues, from determining initial risks and issues through to implementation
- Scoping and leading the delivery of analytical work, supporting and guiding junior team members as required
- Management and quality control of functional work streams in a wide range of project contexts
- Leveraging your skills and experience to support the development of proposals and marketing propositions
Qualifications for transaction monitoring
- At least 5 years of direct experience in Financial Crime Compliance, Risk Assessment or Quality Assurance in Financial Services, Banking or Regulatory environment
- Create and deliver presentations to senior management and the regulators
- Interpret complex requirements and be a self-starter
- A minimal of five years experience in Anti Money Laundering industry
- Strong working experience in any AML Behavioral Detection platforms (Mantas, Prime, Actimize, etc)
- Strong understanding of AML Scenario logic and industry standards
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Transaction Monitoring Job Description
Job Description Example
Our company is looking to fill the role of transaction monitoring. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for transaction monitoring
- Contributing to the firm’s talent agenda and helping to create a more inclusive culture
- Compliance experience as a practitioner and/or Financial Crime compliance qualifications
- Experience leading and delivering complex projects for external clients
- Exposure to commercial sales and marketing activities
- Understanding of the financial services industry within a retail, corporate or investment banking context
- In order to apply please submit your CV & covering letter online outlining why you wish to join our team
- Maintain and enhance the Firm’s automated surveillance programs designed to detect potential money laundering transactions, suspicious money movements, potential insider trading, potentially problematic transactions in unlisted low-priced securities, other areas of potential market manipulation
- Work with colleagues, advisors and supervisory personnel to resolve these alerts, as appropriate
- Ensure good processes are in place regarding the team’s operating procedures
- In partnership with the Global Head Anti-Financial Crime (AFC) IT Strategy and AFC Regional Heads, develop and implement the strategy for building an effective and sustainable AFC monitoring program
Qualifications for transaction monitoring
- Working skills in statistical analysis (Quantitative/Qualitative analysis a plus)
- Strong knowledge of Anti-Money Laundering, and particularly AML monitoring systems covering commercial banking activities
- Experience in managing large team(s) of employees remotely
- The ability to project confidence, professionalism and respect in all dealings with business and other managers and staff
- Experience with prioritizing among conflicting tasks, and with managing multiple ongoing projects, assignments and tasks, all with a minimum of supervision
- Commitment to identifying Anti-Financial Crime solutions that meet business needs while ensuring adherence to applicable laws, regulations, policies and procedures