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AML Monitoring & Reporting Lead
Flutterwave
Lekki, Nigeria
Posted on Nov 19, 2024
Flutterwave is a leading payment technology company that provides innovative solutions for businesses and individuals. It was founded on the principle that every African must be able to participate and thrive in the global economy. To achieve this objective, we have built a trusted payment infrastructure that allows consumers and businesses (African and International) to make and receive payments in a convenient borderless manner.
The Role: The Senior Manager, AML Monitoring and Reporting will ensure potentially reportable activity is escalated for appropriate action to the relevant Money Laundering Reporting Officers in the various jurisdictions in which Flutterwave operates, in line with local regulatory requirements as well as Flutterwave policy and procedure. This role reports to the Global Financial Crimes Compliance (“GFCC”) Lead
Responsibilities include, but are not limited to:
- Oversee the execution of the AML Monitoring and Reporting process for both business and consumer customers to ensure compliance with all policies and procedures relating to Transaction Monitoring and Investigations as well as regulatory requirements.
- Lead, mentor, and manage a team of AML Monitoring and Reporting Associates / Senior Associates. Ensure completeness, accuracy, and timeliness of associates’ work product. Evaluate performance based on Key Performance Indicators. Lead team meetings and foster team development.
- Review cases containing potentially suspicious activity globally and escalate appropriately for potential filing in the relevant jurisdiction. Ensure cases are appropriately dispositioned with supporting evidence. Ensure narratives clearly articulate the reasons for potential filing or closure, as warranted.
- Understand red flags and Flutterwave policy and procedures to understand if a case requires escalation to areas outside of Compliance for other concerns, such as terms of service violations. Collaborate with Risk leaders as warranted. The Senior Manager, AML Monitoring and Reporting should also understand local timing requirements for the identification of suspicious activity and ensure associates/senior associates are completing investigations in a timely manner.
- Demonstrate expertise and proficiency in the execution of procedures, conduct quality control on associates’ work product, and provide clear and direct feedback to team members to improve quality.Recommend strategies to enhance the efficiency and effectiveness of the implementation of the Transaction Monitoring and Investigations process.
- Communicate with and provide feedback to transaction monitoring units in the first line conducting initial alert reviews to facilitate consistent and quality execution of Transaction Monitoring and Investigation procedures.
- Conduct quality control for new hires and quality assurance reviews for experienced hires to continually monitor for quality output of the team, including proper identification and documentation of either potentially suspicious indicators or mitigating factors.
- Recommend strategies to enhance the efficiency and effectiveness of the implementation of the Transaction Monitoring and Investigations process.
- Manage relationships with stakeholders. For example, liaise with the Country Compliance Officers to understand local reporting requirements to facilitate quality investigations and reporting.
- Assist in the hiring and training of qualified AML Monitoring and Reporting Associates / Senior Associates, including conducting quality control reviews on new hire work.
- Identify trends that may require additional training across the organization and/or enhancements to the transaction monitoring procedures to yield quality investigations.
- Stay updated on the latest regulatory developments and changes in AML/CTF and Fraud requirements.
- Track and report on team performance as well as trending within suspicious activity investigations to the GFCC Lead. Assist the GFCC Lead with department-wide performance reporting as required.
- Ensure personal information of customers, employees, and other individuals the company conducts business with is processed and protected in line with applicable data privacy policies, privacy laws, and global best practices.
Required Qualifications to be a Waver:
- Bachelor's degree in Financial Management or Investment Management, Business Management, Commerce, Commerce in Business Innovation and Entrepreneurship, or a related field. Advanced degree preferred.
- Minimum of Ten (10) years of experience in in a similar role, preferably in the payment industry. Specific experience assessing and reviewing system generated and manual AML/Fraud alerts and/or escalations/SAR write-ups for potentially suspicious activity is a must.
- Strong understanding of the legal, corporate governance, and regulatory environment related to investigation and filing of potentially suspicious activity and jurisdiction specific regulations related to Anti-Money Laundering Investigations.
- Ability to detect and mitigate red flags for potential financial crime, including money laundering, terrorism financing activities and Counter Proliferation Financing and Fraud as it appears in transactional data.
- Ability to work effectively and drive results in a fast-paced environment.
- Strong problem-solving skills and the ability to make sound decisions.
- Proficiency in English required, with additional proficiency in French preferred.
- Proficiency in Microsoft Excel.
- Effective oral and written communication skills, including ability to develop clear and direct case narratives.
- Strong leadership and time management skills, including ability to provide direct feedback, setting clear performance expectations.
- Ability to manage and prioritize several tasks simultaneously and autonomously.
- Professional certifications such as Certified Anti-Money Laundering Specialist (CAMS) are a bonus.
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