Assistance/Associate - Manager - Fraud Monitoring-LEA
Gurgaon, India
Payment – Payments India - Risk /
Full-time /
Hybrid
About the Team: The Transaction Monitoring Team operates within the Risk & Operations Department with the primary goal of detecting and disrupting fraudulent schemes before they can cause harm. This essential function serves to protect the organization's assets and maintain trust with our stakeholders.
Objectives of the Transaction Monitoring Team:
· Detect Suspicious Activity: Vigilantly monitor transactional activities to identify potentially fraudulent behavior, ensuring swift response and mitigation.
· Ensure Compliance: Adhere to legal and regulatory requirements, maintaining a robust framework for compliance with evolving standards.
· Minimize False Positives: Refine monitoring systems to reduce the occurrence of false alarms, optimizing efficiency and resource allocation.
· Risk Assessment: Conduct thorough evaluations of transactions, categorizing them based on risk levels, and prioritizing high-risk alerts for detailed investigation.
· Enhance Customer Trust: Foster a secure environment by safeguarding financial transactions, thereby bolstering customer confidence in our operational integrity.
By concentrating on these key objectives, the Transaction Monitoring Team plays a pivotal role in ensuring the security and integrity of financial operations within the organization. Their efforts not only protect our assets but also uphold the trust and confidence of our clients and partners.
About the Role:
- The Transaction Monitoring Manager is responsible for leading and managing the transaction monitoring team, ensuring compliance with relevant regulations and internal policies. This role involves setting strategic direction, overseeing daily operations, enhancing monitoring systems, and providing guidance on complex investigations related to financial crime
Responsibilities:
- Leadership and Management:
- · Lead, mentor, and develop a team of transaction monitoring analysts to ensure effective and efficient execution of responsibilities.
- · Establish and monitor team performance objectives, providing feedback and conducting regular performance evaluations.
- Transaction Monitoring:
- · Oversee the daily operations of the transaction monitoring process to ensure timely identification and escalation of suspicious activities.
- · Develop and maintain procedures, methodologies, and controls to enhance the detection of unusual transactional behavior.
- Risk Assessment and Strategy:
- · Conduct risk assessments to understand emerging financial crime risks and develop strategies to address them.
- · Stay updated with industry trends and regulations to ensure the organization’s transaction monitoring processes align with best practices.
- · Coordinate with internal and external stakeholders, including auditors and regulatory bodies, on transaction monitoring-related matters.
- System Enhancement:
- · Provide insights and recommendations for improvements to transaction monitoring systems, collaborating with IT and vendors as needed.
- · Evaluate and implement new technologies or tools to improve monitoring efficiency and accuracy.
- · Work closely with other departments like Fraud Prevention, Legal, and IT to support comprehensive financial crime prevention efforts.
- · Facilitate cross-functional training and knowledge-sharing sessions to strengthen the organization’s financial crime
Requirements:
- · Microsoft Office, SQL, Python familiarity with data analysis tools
- · Experience in Banking/Fintech/Gateway will be preferred
