Transaction Monitoring Manager
Location: London (Office Based)
Salary: £75,000- £85,000
Full-Time position
Excellent Benefits
Our client, a leading foreign bank based in the West End of London is seeking a Transaction Monitoring Manager with5 years of experience in client onboarding or transaction monitoring within a retail commercial bank or financial services company.to join their team.
In this role you willwill play a critical role in ensuring the integrity and compliance of financial transactions in alignment with regulatory requirements. This role encompasses monitoring and analysing trade-related products, managing transaction monitoring and sanction reviews, and ensuring adherence to UK laws, FCA regulations, and anti-money laundering (AML) standards.
You will be responsible for:
- Collaboration & Support:
- Work closely with the Head of Customer Due Diligence and MLRO to oversee daily activities related to Transaction Monitoring, AML, and Financial Crime Management.
- Integrate relevant FCA, NCA, and HM Treasury regulations into the bank's procedures.
- Transaction Reviews:
- Conduct detailed reviews of transactional histories for flagged accounts, determining the appropriate actions and refining monitoring rules as necessary.
- Maintain knowledge on Enhanced Due Diligence (EDD), Know Your Customer (KYC), and compliance legislation.
- Team Management:
- Lead and mentor a team of Transaction Monitoring Analysts, ensuring alignment with the bank's strategy and risk appetite.
- Act as an escalation point for complex transaction alerts and oversee the effective resolution of monitoring alerts.
- Procedures & Enhancements:
- Review transaction monitoring procedures, offering suggestions for improvements to enhance fraud, money laundering, and sanctions prevention.
- Ensure timely and accurate release of false matches and manage Companies House monitoring alerts.
- Trade Transactions:
- Review and analyse trade transactions to identify any that breach the bank's anti-money laundering policies.
- Stakeholder Engagement:
- Build and maintain professional relationships with internal stakeholders, promoting higher regulatory standards and conducting training sessions as needed.
- Reporting & Compliance:
- Compile and present reports, ensuring compliance with internal standards and regulatory requirements.
- Oversee the implementation of Quality Control Processes and manage internal Suspicious Activity Reports (SARs).
What we are looking for:
- Experience & Expertise:
- Proven experience with higher-risk customers, products, and jurisdictions.
- Skills:
- Strong organisational skills and the ability to work independently with strict timelines.
- Excellent verbal and written communication skills, with a track record of effectively sharing information in a clear and professional manner.
- Knowledge:
- In-depth understanding of the customer journey from onboarding to transaction execution.
- Experience in compiling and interpreting compliance reports.
- Qualification:
- Experience in AML & Compliance or similar environments.
- Proven track record in transaction monitoring within a regulated environment.
This role demands a detail-oriented, proactive professional with strong leadership skills and a deep understanding of AML and transaction monitoring.
If you are adept at managing complex transactions and leading a team to maintain high compliance standards, this position offers a significant opportunity for impact and growth in the financial sector.
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Keywords:Transaction Monitoring Manager, Transaction Monitoring, Compliance, AML, Analyst, officer, Manager