Manager, Transaction Monitoring

Onbe, a fast-growing FinTech, bringing innovation to a rapidly growing global marketplace, stands for “on behalf.” Because that’s exactly how we work: on behalf of our clients, as their comprehensive payments partner. We transform the way payments are imagined — as an opportunity for innovation, a source of insight to customers, and a way to connect with partners around the globe!

Summary: The AML Transaction Monitoring Manager will play a vital role in the Compliance Department supporting our efforts to mitigate risks related to money laundering, terrorism financing, and other financial crimes. This role will be responsible for creating a methodology for monitoring financial transactions for potential money laundering or fraudulent activities and involves a systematic approach that integrates various factors, including regulatory requirements, risk assessments, transactional analysis, and technological tools.

This role is a hybrid role that will work onsite 1-2 days per week at our Dallas, TX location. Occasional travel may be required as part of this position. #LI-Hybrid

Responsibilities:

Transaction Monitoring:

• Define parameters, thresholds, and scenarios for monitoring transactions. Parameters might include transaction amounts, frequency, counterparties, unusual patterns, or deviations from typical behavior.
• Establish clear protocols for investigating flagged transactions, including thorough reviews and analysis of supporting documentation.
• Document all investigative findings, actions taken, and decisions made during the review process comprehensively.
• Define escalation paths for suspicious activities, ensuring timely reporting to compliance officers or relevant authorities as per regulatory guidelines.
• Utilize sophisticated data analysis techniques to identify patterns, trends, and anomalies indicative of suspicious behavior.

Prepare Comprehensive Reports:

• Create detailed reports highlighting suspicious activities, including clear recommendations for further action or resolution.
• Investigate alerts to identify potentially suspicious activity per Anti-Money Laundering (AML) compliance protocols and procedures. Determines the need for Suspicious Activity Reports (SARs) during investigations and fulfills regulatory filing obligations as required.

Regular Review and Enhancement:

• Conduct periodic reviews of the monitoring methodology to incorporate feedback, adapt to new risks, and align with changing regulatory requirements.

Training and Awareness:

• Provide ongoing training and awareness programs for staff to ensure they are updated on new threats, changes in regulations, and best practices.

Cross-Functional Collaboration:

• Cultivate collaboration among departments, such as Compliance, Legal, Operations, and IT, to capture diverse insights and improve monitoring effectiveness.

Feedback Mechanisms:

• Establish mechanisms for feedback from frontline staff and analysts to refine monitoring parameters and procedures.

Qualifications:

• 5+ years of experience in AML/CTF financial compliance and regulations.
• Demonstrate knowledge of money laundering and terrorist financing typologies to recognize unusual/suspicious activity.
• In-depth, hands-on knowledge of AML/CTF typologies.
• Experience working hands-on with cross-functional teams, such as Legal, Engineering, Product Management, Data, and Operations in building compliance processes and systems.
• CAMS certification preferred.
• Advanced Proficiency in Excel functions such as VLOOKUP, pivot tables, data analysis, conditional formatting, macros, and complex formulae. The ability to efficiently manipulate and analyze large datasets is crucial for conducting in-depth investigations and generating reports.
• SQL Proficiency and proven understanding of Structured Query Language (SQL) to query databases effectively. This skill is valuable for retrieving and analyzing data directly from databases, enabling the investigation manager to conduct thorough analyses of transactional information and identify patterns or anomalies.

The base salary range for this position is between $111,960 to $142,800 with eligibility for an annual bonus. The actual base salary offered depends on a variety of factors, including but not limited to the qualifications of the individual applicant for the position, years of relevant experience, specific and unique skills, level of education attained, certifications or other profe