Team Lead, Transaction Monitoring at United Bank for Africa (UBA)

Job Objective(s)

• Develop and oversee transaction monitoring controls systems to identify, report and protect the bank from any transaction that may lead to Money Laundering/Terrorist Financing (ML/TF).
• To provide guidance on Compliance matters to ensure the bank’s operations and business transactions follow all relevant regulatory provisions and internal policies.
• To assist the GCCO to embed a culture of compliance in the bank by ensuring that the Banks AML and Counter Financing of Terrorism’s efforts are in line with Group standards and international best practices hereby preventing the Group from being exposed to the risk of sanctions and associated financial/reputational loss as a result of failure to comply.

Duties & Responsibilities

• Manage and exercise requisite oversight in the use of Actimize (the Bank’s AML solution) to identify and report suspicious transactions as well as ensure Sanctions Compliance (both transactions and onboarding screening).
• Ensure the review of SWIFT Sanctions Screening alerts for Sanctions Compliance (only transactions screening).
• Collaborate with IT Risk/IT to ensure the optimization of Actimize.
• Review of Risk Based Transaction monitoring reports (e.g. PEP, NGO etc) and RFI’s for suspicious activity in order to protect the bank from ML/TF risk exposure.
• Review suspicious transaction reports in line with NFIU requirements.
• Ensure tracking of Escalated STRs from branches and Head Office Units.
• Ensure rendition of Compliance related regulatory returns.
• Render monthly return on Infraction to CBN within stipulated timelines.
• Implement transaction monitoring controls for Remittance (e.g. WU/MG), Prepaid and Merchant Compliance Programmes.
• Ensure update of the Bank’s Internal Watchlist.
• Carry out due diligence checks to manage financial crime risks posed by customers and their counterparties, products etc using World-Check.
• Conduct bank-wide annual ML/TF Risk Assessment.
• Prepare management reports to Chief Compliance Officer as appropriate.
• Ensure response to Request for Information (RFIs) from Correspondent Banks.
• Educate and train employees on key regulations and internal policies.
• Provide prompt compliance advisory support to all internal stakeholders.

Knowledge & Skills Required

• In-depth knowledge of the banking industry’s standards and regulations.
• Deep knowledge of the Bank’s Products, Services and Processes.
• Knowledge of key National and International AML Regulations.
• Strong Analytical and problem-solving skills.
• Management Reporting skills.
• Proficiency in the use of the computer and basic applications like excel, PowerPoint.
• Firm, professional and result-oriented.
• Excellent  Interpersonal and Communication Skills.
• Knowledge of the Global Sanctions program.
• First degree in Law, Economics, Finance, Business Administration or any related field. 
• Compliance Certification with ACAMS, and CIN is a plus.