Transaction Monitoring and Screening Manager

4 weeks ago

London, United Kingdom TerraPay Full time
Who are we?

TerraPay is a leading innovator in the world of mobile-first payments, transcending boundaries to provide lightning-fast financial solutions. Our dynamic Cross-Border Mobile Payments Network empowers licensed financial institutions, organizations, and merchants to conduct real-time money transfers, merchant payments, and push transactions globally. We have garnered the trust of prominent companies worldwide, establishing TerraPay as a pivotal player in the digital payments landscape. To learn more about us, visit www.terrapay.com.

What do we stand for?

At TerraPay, we stand for innovation, efficiency, and the relentless pursuit of excellence in the payments industry. Our commitment is to deliver seamless financial interactions, enhance global connectivity, and drive transformative changes in the way people and businesses exchange funds. We place a strong emphasis on trust, security, and collaboration, ensuring that our clients and partners experience world-class financial services with unmatched integrity.

Requirements

Job scope:

The Transaction Monitoring and Screening Manager will be responsible developing and maintaining robust transaction monitoring and screening processes to detect and prevent financial crime and sanctions breaches, in compliance with TerraPay's group-wide AML and sanctions policies. Reporting directly to the UK MLRO, the Transaction Monitoring and Screening Manager will ensure compliance with UK AML regulations, whilst also contributing to TerraPay's global financial crime compliance framework.

Responsibilities:

  • Develop and implement effective transaction monitoring and screening strategies to identify suspicious activities and financial crimes.
  • Conduct ongoing review and enhancement of transaction monitoring and screening rules, parameters, and thresholds to ensure effectiveness and compliance with regulatory requirements
  • Take ownership of the oversight of TerraPay's outsourced compliance operational function in the Bangalore office, through sampling, thematic reviews and data analysis, ensuring that TerraPay's policies and procedures are being applied correctly.
  • Analysing transactional data and oversee investigations into suspicious activity, escalating findings to senior management and regulatory authorities as necessary
  • Management and oversight of the vendors used for TM and screening. And ensuring that such vendors are fit for purpose.
  • Collaborate with cross-functional teams, including risk management, operations, and product, to ensure that TerraPay's transaction monitoring and screening practices are maintained as the business grows.
  • Publishing reports with appropriate action plans to mitigate any risk issues found during reviews.
  • Assisting the MLRO in developing and implementing AML policies and procedures in line with regulatory obligations and industry best practices.
  • Identifying, maintaining, and enhancing internal controls for customer identification and verification procedures, sanctions screening and anti-money laundering checks.
  • Ensure suspicious activity reports (SARs) are filed promptly with the NCA
  • Conduct AML training and awareness programs for employees and provide guidance on AML regulations and policies.
  • Staying up-to-date with regulatory developments affecting the business, and maintaining a working knowledge of MLRs 2017 and PSD2.

Qualifications and skills:

  • Bachelor's degree and/or professional certification within financial crime compliance (e.g. ACAMS, ICA diploma) is preferred.
  • Extensive experience (5+ years) in financial crime compliance, with a focus on transaction monitoring and screening, preferably within the payments industry or a financial institution regulated in the UK.
  • In-depth knowledge of UK regulatory requirements related to financial crime, including AML, CTF, and sanctions screening regulations.
  • Strong analytical skills with the ability to analyse complex data sets and identify patterns indicative of suspicious activities.
  • Excellent communication and interpersonal skills, with the ability to effectively collaborate with cross-functional teams and communicate complex concepts to non-technical stakeholders.
  • Proven track record of driving process improvements and implementing innovative solutions to enhance financial crime prevention capabilities.
  • Ability to work independently, prioritize tasks, and manage multiple projects simultaneously in a fast-paced environment.

Benefits

  • A competitive compensation package, including performance bonuses
  • Join a global team with members from 45+ different nationalities spread across 5 continents
  • 25 days Holidays + bank holidays and birthday leave

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