Job Description
Join our Compliance team and play a vital role in protecting HugoBank from financial crime. As a TMS (Transaction Monitoring System) and Sanction Screening Associate, you will be responsible for the effective management and execution of anti-money laundering (AML) and counter-terrorist financing (CTF) activities. This includes ensuring compliance with regulatory requirements, monitoring transactions for suspicious activity, and screening customer records against sanctions lists. This role is crucial for mitigating financial crime risks and maintaining the integrity of our operations.
Responsibilities
- Transaction Monitoring:
- Review and analyze alerts generated by the TMS for unusual or suspicious activity.
- Investigate flagged transactions and escalate findings to senior management or relevant authorities as necessary.
- Document investigation results and maintain proper records for audit and compliance purposes.
- Sanction Screening:
- Conduct real-time and periodic screening of customer data against sanctions, watchlists, and politically exposed persons (PEP) databases.
- Investigate and resolve matches or "hits" identified during the screening process.
- Ensure accurate reporting of confirmed matches in accordance with internal and regulatory guidelines.
- Regulatory Compliance:
- Stay updated on AML/CTF laws, sanctions regulations, and compliance best practices.
- Assist in developing, implementing, and enhancing policies, procedures, and controls related to TMS and sanction screening.
- Coordination and Reporting:
- Liaise with internal stakeholders to address queries related to TMS alerts and sanction screening processes.
- Prepare periodic and ad hoc reports on monitoring and screening activities for internal stakeholders and regulators.
- System Optimization:
- Collaborate with IT and vendor teams to optimize the TMS and sanction screening tools.
- Test and validate system updates or changes to ensure operational efficiency and accuracy.
- Training and Awareness:
- Provide training and guidance to team members on the use of TMS and sanction screening tools.
- Raise awareness about the importance of AML/CTF and sanctions compliance within the organization.
- Enhanced Due Diligence (EDD) and Customer Due Diligence (CDD):
- Ensure compliance with Enhanced Due Diligence (EDD) and Customer Due Diligence (CDD) processes.
- Conduct thorough EDD on high-risk customers and ensure all CDD information is accurate and up-to-date.
- Implement and monitor ongoing EDD and CDD procedures to mitigate potential risks.
- Payment Screening (Secondary Responsibility Elevated): Set up Payment Screening post-pilot.
