Risk and Compliance Associate at Multigate Payments Limited

Description

• Multigate is looking for a dedicated and detail-oriented Risk and Compliance Associate to join our team. The ideal candidate will be responsible for identifying, investigating, and mitigating financial crimes such as fraud, money laundering, and other illicit financial activities.
• The Risk and Compliance Associate will work closely with the compliance, legal, and risk management team to develop and implement strategies to detect and prevent financial crimes.

Duties/Responsibilities
Transaction Monitoring:

• Conduct real-time monitoring of FX transactions to identify anomalies or suspicious behaviors indicative of fraud or market manipulation.
• Utilize advanced transaction monitoring systems to analyze transactional patterns and flag potential risks for further investigation.

Regulatory Compliance:

• Ensure compliance with relevant regulations including AML, KYC (Know Your Customer), and other financial crime prevention measures.
• Prepare and submit Suspicious Activity Reports (SARs) as required by regulatory authorities.

Documentation Review and Approval:

• Review and obtain approval for supporting documentation required to process transactions, ensuring all necessary information is complete and accurate.
• Collaborate with front office teams to gather and verify documentation related to customer transactions, including identification, source of funds, and business purpose.

Risk Assessment:

• Perform risk assessments on new and existing clients based on their transaction history, business activities, and geographic locations.
• Develop and implement risk mitigation strategies tailored to high-risk customers.

Data Analysis:

• Analyze large volumes of transactional data using sophisticated algorithms to detect complex money laundering schemes.
• Generate reports on transaction monitoring results, compliance activities, and risk assessments for senior management.

Collaboration:

• Work closely with the team to ensure that all policies and procedures are up-to-date and effective.
• Liaise with external auditors and regulatory bodies during inspections and audits.

Continuous Improvement:

• Stay updated on industry trends, regulatory changes, and best practices in risk management and compliance.
• Contribute to the enhancement of transaction monitoring systems by providing insights based on analysis findings.

Requirements

• Minimum 3 years of experience in compliance, risk management, or a related field.
• Bachelor’s degree in law, finance, business administration, or a related field.
• Prior experience with regulatory bodies or in a highly regulated industry, particularly in financial services.
• Relevant certifications such as Designate Compliance Professional (DCP) is highly desirable.
• Strong understanding of AML (Anti-Money Laundering), KYC (Know Your Customer), and financial crime prevention measures.
• Familiarity with regulatory requirements, including preparing Suspicious Activity Reports (SARs) and ensuring compliance with relevant laws and regulations.
• Experience in collaborating with cross-functional teams to implement compliance strategies.

Required Skill

• Keen eye for detail to ensure accurate documentation, regulatory adherence, and thorough risk assessments.
• Strong problem-solving abilities to identify and mitigate complex financial crimes such as fraud and money laundering.
• Ability to assess and interpret large volumes of transactional data to uncover potential threats.
• Ability to communicate complex compliance requirements clearly to internal and external stakeholders.
• Proficient in report writing to prepare transaction monitoring results and risk assessments for senior management.
• Ability to work effectively with compliance, legal, and risk management teams, as well as external auditors and regulatory bodies.
• Ability to use advanced analytical tools and algorithms to detect patterns indicative of financial crime.
• Proficiency in transaction monitoring systems and data analysis software.

Benefits

• Competitive Salary 
• Opportunities for professional growth and career advancement. 
• A dynamic, inclusive, and innovative work environment.
• Office perks
• Working with amazing talents
• Role Autonomy