Job objective(s)

• Ensuring compliance with regulatory guidelines and procedures in relation to Transaction Monitoring
• Premium HR Solutions – Our client, a reputable firm in the banking sector, is currently recruiting for a Team Member, Transaction Monitoring.

Duties & Responsibilities

• Obtain transaction information from IT, IOPs and Control in the form of reports and alerts and analyse to determine and extract transactions for further review, monitoring and investigation.
• Monitoring, Unusual transactions, Government accounts to Personal Accounts in cash withdrawals/transfers. (NGN/FX)
• Monitoring, High Volume of transactions within a short period. (NGN/FX)
• Huge Cash Payments to BDCs (NGN/FX)
• Monitoring and Review of transactions of WUMT/MoneyGram (FX)
• Monitor wire transfer through SWIFT Sanctions screening and Acuity/ Ensuring Sanction individuals, entities and Nationals are filtered through the SWIFT Engine for Compliance action.
• Schedule and prepare Suspicious Transactions Reports (STR) and ensure they are filed with NFIU through their GoAML Portal,

Key Performance Indicators

• Review and identify all suspicious transactions and activities on customers’ accounts. Prepare Suspicious Transaction Reports (STR)
• Verify and ensure that the Customer’s records and maintenance on Finacle are in line with his/her risk classification – Tier 1, Tier 2, Tier 3, PEP, DNFBP, etc.
• Due diligence, enhanced due diligence, and review of unusual inflows and transaction amounts that suggest structuring/smurfing. Monitor transactions where large inflows and outflows are made frequently (unless they are deemed usual in view of the Customer’s occupation, business pattern or other factors).
• Monitor transactions involving customers that have provided information (suspected of being false or ambiguous) regarding their overseas remittances or receipts. Identify related, connected or common accounts that are owned by the same person or related persons.
• Review and confirm businesses/firms that require a license to operate have the requisite licenses, Such as BDC, Mining, Betting Firms, Finance houses, etc.
• Obtain the Customer’s account package from the branch of domiciliation and review for completeness/current KYC (B) details while filling an STR on the customer’s transaction. Conduct Annual/Biannual EDD on all high-risk accounts and file STR where applicable
• Review alerts from Iconcept4, Infopool and Logs on to RADAR Application to identify set rules that have captured suspicious transactions.

Minimum Education Qualifications

• BSc in social science or humanities, or HND with a Master’s Degree.
• Minimum requisite experience: 3 – 5 years of working experience
• Excellent knowledge of bank and regulatory procedures and policies
• In-depth knowledge of Banking Operations/Products
• In-Depth Credit, operations, computer systems (Data Center), GIS, etc. Skills/Competencies
• Good written and oral communication skills.
• Good interpersonal and relationship skills.
• Excellent negotiation skills
• Good reporting Skills.