Transaction Monitoring & Payment Screening Operations

What will you be doing in Transaction Monitoring & Payment Screening Operations?

• Monitor, review and complete detailed analysis and investigation of transactions referred for possible sanctions, fraud, money laundering (ML) & terrorist financing (TF) alerts
• Reviewing transaction alerts and assessing if permissible or requiring investigation
• Conducting thorough investigations of all system-generated sanctions, fraud and ML/TF alerts
• Owning individual alert cases and using case management tools in completing alert investigations within required timescales
• Collaborating with external correspondent banks to secure required data to be able to complete investigations of alerts
• Obtaining required evidence for investigations to ensure effective record keeping
• Support the UK fraud Manager with the amendment of rules and criteria to reduce noise and ensure valuable alerts are flagged accordingly
• Investigate and resolve any issues or discrepancies identified during the monitoring process.
• Support the UK Fraud Manager in ensuring compliance with relevant regulations, including fraud sanctions and anti-money laundering laws.
• Stay up to date with changes in regulations & legislation and industry best practices related to transaction monitoring and payment screening.
• Deliver meaningful data analysis and insights to drive process improvements.
• Support the bank with law enforcement requests in relation to financial crime.
• As number of business current accounts increases, thereby increasing the number of transactions and Transaction Monitoring & Payment Screening required: training, and continuously developing new starters in their career path to continually be able to deliver more for the bank at an ever-increasing level of subject matter, quality and overall performance
• Support with the refinement, optimisation and automation of system configuration to reduce false positives

What do you need to excel in this role?

• Very detailed knowledge and a keen interest of the UK anti-money laundering and financial crime regulatory and legislative frameworks.
• Minimum 4-10 years previous experience UK banking experience in financial crime and knowledge of payment methods e.g. CHAPS, SWIFT, FPS, etc.
• Very detailed knowledge of other working areas of Financial Crime (CDD, PEP’s etc.)
• Strong experience of asking open questions to customers to identify required information.
• Strong ability to think outside the box and challenge peers in a constructive and timely manner.
• Strong ability to speak up when you have ideas to share in relation to process improvement, time management initiatives etc.
• A keen eye for detail, allowing you to identify potential risks to the bank and our customers.
• Very self-motivated, with a positive mind-set, having strong time-management skills.
• Strong inter-personal skills in order to work closely with the UK fraud Manager and other teams within the bank.

About Us We’re OakNorth Bank and we embolden entrepreneurs to realise their ambitions, understand their markets, and apply data intelligence to everyday decisions to scale successfully at pace.   Banking should be barrier-free. It’s a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools.  And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market.   But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed.  Our story  OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said ‘no’. Unfortunately, all major banks in the UK were using the same computer – and it was broken.   Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan?   The industry was backward-looking and too focused on historic financials, rather than future potential.  So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses?  No more what ifs, OakNorth Bank exists.   For more information regarding our Privacy Policy and practices, please visit: https://oaknorth.co.uk/legal/privacy-notice/employees-and-visitors/