Transaction Monitoring Associate

The Transaction Monitoring Associate is a vital role within our organisation, responsible for conducting detailed monitoring and analysis of client transactions to identify and mitigate risks associated with money laundering and financial fraud. This position requires a high level of diligence, analytical skills, and a deep understanding of KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. The ideal candidate will be proactive, detail-oriented, and committed to maintaining the highest standards of compliance and risk management.

Key Responsibilities

• Detailed Transaction Analysis: Conduct in-depth analysis of client transactions, scrutinising for unusual patterns or activities that might indicate money laundering, terrorist financing, or other financial crimes.
• Alert Investigation and Resolution: Manage and investigate alerts generated by the transaction monitoring system, determining the legitimacy of transactions and escalating suspicious activities as per the established protocols.
• Trend Analysis and Reporting: Identify and report on trends or patterns in transactional behaviour that could indicate emerging risks or areas of concern.
• Compliance and Regulatory Adherence: Ensure all transaction monitoring activities are compliant with relevant AML regulations and internal policies. Stay updated with changes in regulatory requirements and adjust monitoring strategies accordingly.
• Client Risk Assessment: Assist in assessing the risk level of clients based on transaction activities, contributing to the overall risk profile analysis.
• Documentation and Record Keeping: Maintain accurate and comprehensive records of all monitored transactions and investigations for audit and regulatory purposes.
• Enhancing Monitoring Processes: Contribute to the continuous improvement of transaction monitoring processes and systems, suggesting enhancements for more effective monitoring and risk management.
• Collaboration and Reporting: Work closely with the compliance and AML teams, providing regular reports on transaction monitoring findings and escalating issues as necessary.

Skills, Knowledge and Expertise

• Experience: Proven experience in transaction monitoring and corporate onboarding.
• KYC and AML Knowledge: A solid understanding of KYC law, regulations, compliance risk, non-financial risk, and documentation aspects of the KYC process, particularly for correspondent banking relationships.
• Analytical Skills: Strong analytical and organisational skills, with the ability to be a proactive and fast learner.
• Communication Skills: Excellent communication skills, both written and verbal, with the capability to document relevant information in a clear, structured, and comprehensive manner.
• Teamwork: A strong team player with robust work ethics.
• Resilience and Commitment: Resilient and committed with the ability to plan, prioritise, and work under pressure.
• Attention to Detail: Accuracy and diligence with a focus on delivering high-quality results within tight deadlines.
• Market Awareness: An interest in financial markets, current events, and news.
• Technical Proficiency: Command of MS Office applications and general computer proficiency.

Benefits

• 25 days’ annual leave, plus bank holidays and an extra day off for your birthday!
• Holiday loyalty scheme.
• Life Insurance.
• Work abroad scheme.
• Enrolment into our pension scheme, which we offer via a salary exchange scheme.
• Access to a financial education, planning and coaching platform.
• Membership with Healthcare platform, which offers cash back on healthcare focused on dental, optical & physio, plus access to stress helplines, a virtual GP and more.
• Salary exchange nursery fees.
• Enhanced parental leave.
• Cycle to work.
• Benefit from IFX’s Season Ticket Loan scheme, offering an interest-free loan for travelling into and within London.
• Participation in the IFX annual discretionary bonus scheme (eligible after probation).
• Career development and progression tools.
• Company events – Sporting events, pub nights, seasonal parties, socials.

Diversity & Inclusion

We believe that diversity and inclusion are essential to our success. We are committed to fostering a culture where everyone feels valued and respected, regardless of their background, identity or experiences. By embracing diverse perspectives and promoting equity, we aim to create an environment where all employees can perform and reach their full potential.