Req. for Associate Director, Transaction Monitoring

Job Description

Strategy
• The Senior Risk Event Mitigation Analyst supports the Transaction Monitoring Risk Event Manager, FCC Europe and Americas, the Transaction Monitoring Unit, and ultimately FCC Surveillance and Operations by being accountable for the day to day monitoring of risk events and risk event escalations arising from business booked into the Americas from other Standard Chartered affiliates and third-party clients across all three product areas.
Business
• Supporting end-to-end activities related to AML Transaction Monitoring in the BAU environment.
Processes FM AML:
• Perform FM AML Risk Event reviews on a monthly basis to determine whether any potential unusual activity exists
• Thorough and timely reviews of trading activity, customer information, and negative media to formulate a decision to close or escalate FM risk events.
• Provide oversight and support for FM Third Party Risk Event process.
• Initiate RFI s to Relationship Managers (RM s) as necessary and engage with appropriate stakeholders when needed (e.g., FM Advisory, Business).
Trade Finance:Pre-Transaction Review:
• Review live trade transactions escalated for potential money laundering, fraud, or other FCC concerns.
• Perform thorough and timely reviews of all non-client beneficiary (NCB) and Defence and Dual Usage Goods (DDUG) transactions identified and escalated with potential FCC concerns and formulate a decision which leads to approving or rejecting pending transactions.
• Perform time sensitive reviews on transactions and analyzing trade documentation such as Letter of Credits, Bills of Lading, Commercial Invoices, Packing Lists, LLI Vessel and/or IMB Reports, among other documentation accompanied by an escalated transaction.
• Identify, research, and escalate potential unusual activity.
• Collaborate with key stakeholders in the trade process (i.e. Trade Operations, FCCA Advisory, RM s) to ensure transactions are actioned timely and effectively
• Support and provide oversight to FCSO as part of the AAA Transaction Monitoring process for Trade AML Monitoring where needed.
Post-Transaction Review:
• Review post cases assigned which have been escalated in-country to Further Analysis for trade finance case escalations.
• Review cases that contain one or multiple transactions on customers or non-client beneficiaries and assess manual and automated risk indicators identified to determine whether the case is risk relevant.
• Draft case recommendations with articulate rationale that addresses the risk indicators identified and provides a complete review of the case accompanied by supporting documentation to serve as evidence for the decision made.
• Work with management and team members to determine whether to close cases as risk irrelevant or escalate for further escalation to the FCCA US Investigations team.
Correspondent Banking:
• Review prior cases to determine completeness (Accept, Reject, or Hold).
• Review and analyze to determine whether transactions are covered in prior R&C status/Risk Relevant Case closure in ECM. If yes, accept and proceed with escalation to Act stage for risk relevant closure by MLRO. If no (rejected): prior R&C If no (rejected): prior R&C is a non-DS (e.g., Looback, Wire Fraud, PCA), recommend FCSU to perform IX review and reject fast track.
• Prior R&C is a DS case and only partial transactions are covered, then initiate the same to COG team. Case is kept on hold in verify fast track queue until further information from COG Team. Once COG creates a supplemental review case then the same will be linked and merged.
Oversight and Support:
• Responsible to Identify, design and test detection scenario (DS) models to improve quality of alerts generated using statistical modelling techniques. Propose new DS by identifying patterns using data mining techniques and advanced algorithms on customer data, transactional data and sanctions datasets.
• Look for areas of opportunity to streamline FCC operations through automation.
• Provide analytic insights into system optimization in the areas of AML components like Threshold Tuning, Alert Risk scoring and risk event generation / consolidation.
• Mining of data to identify patterns, risk indicators, linkages and illicit activities within Financial Crime Compliance (FCC) datasets.
• Identify and continuously improve scenario efficiency and effectiveness by applying analytics technique.
People and Talent
• Help ensure strong communication flows between the Monitoring Team offshore and FCC Controls Europe and Americas Teams.
Risk Management
• The ability to monitor potentially unusual activity related to CB, FM, and TF products and recommend appropriate action. Ensure full understanding of the risk and control environment in area of responsibility.
Governance
• Awareness and understanding of the regulatory framework, in which the Group operations, and the regulatory requirements and expectations relevant to the role
Regulatory & Business Conduct
• Display exemplary conduct and live by the Group s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the United States / GFS Compliance Regional / Transaction Monitoring to achieve the outcomes set out in the Bank s Conduct Principles : [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Embed the Group s values and code of conduct to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture.
Key Stakeholders
• Head, Transaction Monitoring, FCC E&A
• Head, Risk Event Management FCC E&A
• Head, Operational Oversight FCC E&A
• Head, TM Program Management FCC E&A
• Head, FCC Surveillance and Operations, Europe and Americas
Other Responsibilities
• Embed Here for good and Group s brand and values in the United States.
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
• Bachelor s degree in Economic Crime Investigation, Finance, Economics or related field of study from an accredited institution, or equivalent;
• Advanced degrees (J.D., MBA, etc.) will be viewed positively;
• 3 to 5 years experience in money laundering or complex financial investigations or monitoring; or equivalent;
• ACAMs Certification will be viewed positively;
• Experience in dealing with or in Trade Finance; or equivalent;
• Correspondent Banking and Financial Markets experience and/or knowledge is a plus;
• Experience in working effectively in a team environment; or equivalent.
Visit our careers website www.sc.com/careers ,

Keyskills :
financeadvisorycompliancereportingcustomer relationscode of conductkeeping things simpleenvironmental impact assessmentdata mininghuman skillstrade finance