Description:

Job Title: Transaction Monitoring and Fraud Associate

As a Transaction Monitoring and Fraud/Investigation Associate, you will have a dual role in safeguarding the company’s compliance and financial security. You will be responsible for conducting thorough transaction reviews(using Comply Advantage and other relevant tools/infrastructure) to identify, investigate, and address suspicious or fraudulent activities, playing a key part in mitigating financial crimes. Your sharp analytical skills, attention to detail, and dedication to upholding the integrity of our operations are vital to this role.

In this dual capacity within Kora’s Compliance team, you will work across the Transaction Monitoring and Fraud Investigation units, collaborating with departments such as Legal, Operations, Information Security, Sales, Merchant Success and Risk Management. You will be tasked with developing and implementing advanced transaction monitoring processes, as well as fraud detection strategies, ensuring they align with industry regulations and best practices. By actively contributing to building a robust compliance and fraud prevention culture, you will help identify, investigate, and mitigate risks related to financial crimes and compliance breaches.

Given Kora’s focus on technology and innovation, you will also be expected to design custom data-driven solutions to strengthen our transaction monitoring and fraud detection capabilities, supporting the company’s unique goals and objectives.

What You’ll be Doing

As a tech and data-driven company, we enable our people and teams to take responsibility and initiative to identify areas of improvement and solve problems sustainably. The following, therefore, represents what you will be doing:

Transaction Review:

• 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.

Fraud and Investigation:

• Transaction Analysis: Thoroughly review and analyze financial transactions to identify suspicious activities, focusing on high-risk patterns indicative of potential fraud.
• Real-time Monitoring: Utilize monitoring tools to detect anomalies quickly, ensuring prompt action on flagged activities.
• Rapid Response: Respond promptly to fraud-related emails and alerts, prioritizing cases that may pose immediate risks to the business.
• Merchant Communication: Swiftly send emails to merchants for clarification on flagged transactions, ensuring timely responses to facilitate investigations.
• Efficient Investigation Closure: Conduct quick yet thorough investigations of suspicious transactions, aiming for swift resolution and closure to mitigate potential fraud risks.
• Collaboration: Work closely with cross-functional teams, including Legal, Compliance, and Sales, to ensure a cohesive approach to fraud prevention and resolution.

Documentation and Reporting:

• 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.

What You’ll Need

You’re qualified if you are/have:

• 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.
• 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.
• Quick and agile learning and problem-solving.
• Understanding the complex interactions of regulatory frameworks in the international finance space.
• Experience in a high-growth team and/or startup experience.
• 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.