Fin Crime Analyst
Lahore, Punjab, Pakistan
Full Time
ACEUNION-Fin Crime Analyst
Mid Level
Position Summary:
Fin Crime Analyst is responsible for monitoring transactions, identifying suspicious activities, and ensuring compliance with regulatory requirements. This role involves collaborating with the Customer Support team to address compliance queries, investigating flagged transactions, knowing when to raise Suspicious Activity Reports (SARs), and ensuring the effective use of transaction monitoring systems.
Duties & Job Responsibilities:
Fin Crime Analyst is responsible for monitoring transactions, identifying suspicious activities, and ensuring compliance with regulatory requirements. This role involves collaborating with the Customer Support team to address compliance queries, investigating flagged transactions, knowing when to raise Suspicious Activity Reports (SARs), and ensuring the effective use of transaction monitoring systems.
Duties & Job Responsibilities:
- Coordinate with Customer Support to resolve AML-related issues and ensure timely customer responses:
- Act as the primary point of contact between the AML team and the Customer Support team for compliance-related inquiries.
- Ensure that customers receive timely and accurate responses to compliance questions, such as those involving suspicious transaction activities or account verifications.
- Collaborate with Customer Support to resolve any AML-related issues efficiently while ensuring adherence to internal compliance protocols and regulatory requirements.
- Document all customer interactions and compliance-related communications to maintain transparency and provide a clear audit trail for future reference.
- Analyze large volumes of transactions for unusual patterns and review anomalies:
- Review customer transactions to identify patterns that may indicate illegal activities like money laundering.
- Look for unusual transactions, such as sudden large deposits or withdrawals, that might suggest suspicious behavior.
- Investigate any unusual activity and assess whether it poses a risk or needs further review.
- Work with other teams to act when suspicious activity is found.
- Utilize transaction monitoring systems to trigger and analyze alerts, verifying flagged transactions:
- Use monitoring systems to detect suspicious transactions by setting alerts for activities that meet certain criteria.
- Review flagged transactions to confirm whether they are legitimate or need further investigation.
- Cross-check transactions with customer information and external data to verify their authenticity.
- Prepare SAR drafts with supporting evidence and communicate findings with the SAR team:
- Draft Suspicious Activity Reports (SARs) with clear details of suspicious transactions, backed by evidence and analysis.
- Work with the SAR team to ensure reports are complete, accurate, and submitted to the relevant authorities on time.
- Ensure that SARs meet all legal requirements and include all necessary information to support the report.
- Follow up with the team to ensure that any missing information is provided during the SAR filing process.
- Maintain accurate records of investigations and compliance queries for audit purposes:
- Keep clear and detailed records of all investigations, including findings, decisions, and actions taken, to meet audit and regulatory standards.
- Track all compliance-related customer queries and the actions taken to resolve them.
- Update investigation logs regularly to keep track of ongoing cases and ensure an audit trail is maintained.
- Make records available for internal and external audits, ensuring they follow data retention rules.
- Ensure compliance with relevant AML regulations and organizational policies:
6. Handle Fraud and Scam Claims at First Line Review
- Conduct preliminary assessments of fraud and scam claims raised by customers (including Authorized payment fraud and unauthorized transactions).
- Review supporting documentation and transaction history to determine potential fraud indicators or customer vulnerability.
- Collaborate with Cross functional teams and escalate cases within Compliance as needed based on defined thresholds and case complexity.
- Communicate findings clearly and on record, ensuring accurate case management on industry level. Ensure updates and appropriate claim resolution within service timelines.
- Identify repeated patterns or fraud trends and report them to management for enhanced controls.
Requirements:
Education: BBA /BCOM /ACCA (Graduate)
Experience: 1-2 year experience working for AML/FRAUD Dept in a financial institution
Required Skills:
Fluent in written correspondence
Case management (End to End )
Strong command on Excel ( data analysis and presentation )
Education: BBA /BCOM /ACCA (Graduate)
Experience: 1-2 year experience working for AML/FRAUD Dept in a financial institution
Required Skills:
Fluent in written correspondence
Case management (End to End )
Strong command on Excel ( data analysis and presentation )
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