Transaction Monitoring Manager

Transaction Monitoring Manager

We are looking for an experienced and detail-oriented
Transaction Monitoring Manager to join our Financial Crimes Compliance team in London. The successful candidate will oversee transaction monitoring processes, ensuring compliance with relevant regulations and internal policies.
Responsibilities:
• Team Management: Oversee the day-to-day operations of the transaction monitoring team, ensuring accurate and timely review of suspicious activity alerts.
• Strategy Development: Develop, implement, and maintain transaction monitoring strategies, rules, and scenarios to identify potential money laundering, terrorist financing, and other financial crimes.
• Internal Collaboration: Work closely with internal stakeholders, including Fraud, Risk, and Operations, to continuously enhance the effectiveness of transaction monitoring processes.
• Regulatory Compliance: Ensure adherence to relevant regulations such as the UK’s anti-money laundering (AML) and counter-terrorist financing (CTF) laws, and other applicable regulations.
• Team Development: Manage, mentor, and develop a team of analysts, providing guidance and training to improve their skills and knowledge.
• Reporting: Prepare and present regular reports and KPIs on transaction monitoring activities to senior management and regulatory authorities.
• Industry Awareness: Stay updated on industry trends, emerging risks, and regulatory changes, and adjust the bank’s monitoring and escalation processes accordingly.
• Procedures Development: Develop and maintain comprehensive procedures and desktop guides for transaction monitoring processes, ensuring consistency and adherence to best practices.
• Performance Assessment: Regularly review and assess the performance of transaction monitoring rules and the team, identifying areas for improvement and implementing necessary changes.
• Efficiency Improvement: Enhance the efficiency and effectiveness of transaction monitoring processes through process optimisation, automation, and the adoption of new technologies and tools.

Knowledge, Skills, and Abilities:
• Regulatory Knowledge: In-depth understanding of AML and CTF regulations and industry best practices.
• Analytical Skills: Strong analytical and problem-solving skills, with the ability to identify and mitigate financial crime risks.
• Data Analysis: Proficiency in data analysis tools and techniques, such as SQL and data visualisation.
• Process Improvement: Proven track record of driving process improvements and enhancing team performance.
• Communication: Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.

Education, Training, and Experience:
• Degree: Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. An advanced degree is a plus.
• Experience: Minimum of 7 years of experience in transaction monitoring or AML/CTF compliance within the banking industry.
• Leadership: Proven experience managing and leading a team of analysts.
• Procedures Development: Experience in developing and implementing procedures and desktop guides.
• Certification: Certification in AML or financial crime prevention (e.g., CAMS, CFE) is preferred.

Salary Range: £60,000 - £65,000 per annum
Note: The base salary range does not include performance-based bonuses and/or other benefits, where applicable. The actual base salary offer will vary based on skills and experience.