Transaction Monitoring and Fraud Associate

Summary

Join Kora, a leading payments marketplace in Africa, as a Transaction Monitoring and Fraud/Investigation Associate. You will play a crucial role in safeguarding the company's financial security by conducting thorough transaction reviews, investigating suspicious activities, and developing advanced monitoring processes. This dual role involves collaborating with various departments, designing data-driven solutions, and ensuring compliance with industry regulations. You will be responsible for transaction analysis, real-time monitoring, rapid response to fraud alerts, and efficient investigation closure. The ideal candidate possesses strong analytical skills, a background in financial risk management or compliance, and experience with AML regulations. Kora offers a remote work environment with flexible hours and a comprehensive benefits package.

Requirements

• A minimum of 3 years experience in the financial industry is essential
• Candidates should have a background in roles related to risk management, compliance, or anti-money laundering (AML)
• Prior experience as a Fraud Analyst, Compliance Officer, Transaction Monitoring Officer or similar role experience in a B2B environment, FinTech services, or Banking industry
• A strong understanding of relevant financial regulations and compliance requirements is crucial
• Familiarity with laws such as AML/CTF/CPF/ABC/ sanctions obligations with demonstrated experience at a senior level
• Knowledge of Transaction monitoring and KYC/CDD
• Quick and agile learning and problem-solving
• Understanding the complex interactions of regulatory frameworks in the international finance space
• Strong interpersonal, organizational, communications, analytical, and project management skills
• Thorough knowledge of financial products, services, operations, & systems and extensive dealing with laws, regulations, and regulatory agencies related to assigned areas
• Effective written and verbal communication skills for documenting findings and collaborating with other teams and authorities
• Finally, you bring positive energy, are comfortable with change, and can manage your own workload effectively

Responsibilities

• Review and analyze financial transactions to identify potentially suspicious activities
• Utilize monitoring tools and systems to detect anomalies and irregular patterns
• Investigate flagged transactions to determine their legitimacy or potential risks
• Thoroughly review and analyze financial transactions to identify suspicious activities, focusing on high-risk patterns indicative of potential fraud
• Utilize monitoring tools to detect anomalies quickly, ensuring prompt action on flagged activities
• Respond promptly to fraud-related emails and alerts, prioritizing cases that may pose immediate risks to the business
• Swiftly send emails to merchants for clarification on flagged transactions, ensuring timely responses to facilitate investigations
• Conduct quick yet thorough investigations of suspicious transactions, aiming for swift resolution and closure to mitigate potential fraud risks
• Work closely with cross-functional teams, including Legal, Compliance, and Sales, to ensure a cohesive approach to fraud prevention and resolution
• Maintain detailed records of Fraud investigation reports/records, transaction monitoring activities and findings
• Prepare and submit suspicious activity/transactions reports (SARs/STRs) as required by regulatory authorities
• Collaborate with the Legal and Compliance teams to provide the necessary documentation for investigations
• Work closely with the Compliance Manager and other compliance team members to align efforts
• Ensure all transaction monitoring processes adhere to applicable compliance standards
• Report any potential compliance violations to the Compliance Manager
• Assist with internal and external audits related to transaction monitoring
• Stay updated on the latest trends and threats related to financial crimes and fraud
• Provide training and guidance to employees on transaction monitoring best practices

Preferred Qualifications

• Certified Fraud Examiner (CFE), or similar certifications would be an added advantage
• A thorough knowledge of institutional banking products and services, and the associated financial crime risks
• Experience in a high-growth team and/or startup experience

Benefits

• Health insurance
• Sponsored and tailored training
• Paid parental leave
• Paid time-off
• Flexible work style
• Annual performance bonus
• Low-interest loans
• Group Life Insurance
• Access to up to four therapy sessions monthly
• Day off on your birthday
• Employee interest groups that provide supportive communities within Kora
• Great company culture and the opportunity to work with a highly collaborative team building something great!