Transaction Monitoring Analyst at Korapay

About the Role

As a Transaction Monitoring Analyst, you will play a critical role in ensuring the company's compliance with all applicable regulations and policies. You will be responsible for conducting in-depth transaction reviews to identify and investigate suspicious activities. Your meticulous attention to detail and commitment to maintaining the integrity of our operations will be crucial in this role.

As a member of the Compliance team in the Transaction Monitoring Unit at Kora, you will work with cross-functional teams to enhance our ability to review, detect and prevent suspicious or fraudulent activities.

Your role will involve close collaboration with departments such as Legal, Operations, IT, and Risk Management to develop and implement advanced transaction monitoring processes, ensuring that they align with industry regulations and best practices. You will actively contribute to maintaining a robust culture of compliance and ethical conduct throughout the organization, while also assisting in identifying and mitigating risks related to financial crimes and compliance breaches.

 Being a tech company that values innovation, competence is also required in designing custom-made solutions from data to aid Kora in achieving her unique objectives and goals.

Requirements

What You’ll be Doing

As a tech and data-driven company, we enable our people and teams to take responsibility and initiative to identify areas of improvement and solve problems sustainably. The following, therefore, represents what you will be doing:

Transaction Review:

• Review and analyze financial transactions to identify potentially suspicious activities.
• Utilize monitoring tools and systems to detect anomalies and irregular patterns.
• Investigate flagged transactions to determine their legitimacy or potential risks.

Documentation and Reporting:

• Maintain detailed records of transaction monitoring activities and findings.
• Prepare and submit suspicious activity/transactions reports (SARs/STRs) as required by regulatory authorities.
• Collaborate with the Legal and Compliance teams to provide the necessary documentation for investigations.
• Work closely with the Compliance Manager and other compliance team members to align efforts.
• Ensure all transaction monitoring processes adhere to applicable compliance standards.
• Report any potential compliance violations to the Compliance Manager.
• Assist with internal and external audits related to transaction monitoring.
• Stay updated on the latest trends and threats related to financial crimes and fraud.
• Provide training and guidance to employees on transaction monitoring best practices.

What You’ll Need

You’re qualified if you are/have:

• A minimum of 3 years experience in the financial industry is essential. Candidates should have a background in roles related to risk management, compliance, or anti-money laundering (AML). 
• Prior experience as a Fraud Analyst, Compliance Officer, Transaction Monitoring Officer or similar role experience in a B2B environment, FinTech services, or Banking industry.
• A strong understanding of relevant financial regulations and compliance requirements is crucial. Familiarity with laws such as AML/CTF/CPF/ABC/ sanctions obligations with demonstrated experience at a senior level.
• Knowledge of Transaction monitoring and KYC/CDD.
• Certified Fraud Examiner (CFE), or similar certifications would be an added advantage