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Senior Associate, AML Monitoring & Reporting



Lekki, Nigeria
Posted on Thursday, July 4, 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 AML Monitoring and Reporting Senior Associate will conduct case investigations in accordance with the company's Anti-Money Laundering (“AML”) and Counter Terrorism Financing (“CTF”) policies for both enterprise and SMB (business and consumer) customer segments. The AML Monitoring and Reporting Associate is responsible for overseeing case investigations for potentially suspicious activity, including fraud. The AML Monitoring and Reporting Senior Associate 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 AML Monitoring and Reporting Manager.

Responsibilities include, but are not limited to:

  • Review and investigate cases containing potentially suspicious activity, including fraud. Conduct a review of internal systems and open source research to determine whether the activity has an apparent legitimate purpose or may require escalation to a local Money Laundering Reporting Officer. Draft case narratives clearly articulating the rationale of the decision and attach supporting documentation in accordance with policy and procedures.
  • Complete investigations accurately and in a timely manner. Adhere to Key Performance Indicators and established Service Level Agreements.
  • Understand and identify red flags and indicia of suspicious activity, including fraud. Understand how Flutterwave products and services are used and identify anomalies.
  • Request and manage Requests for Information (RFIs) to the customer to provide additional context for transactions, which may assist an investigation decision.
  • Demonstrate expertise and proficiency in the execution of procedures and understand of red flags / suspicious typologies.
  • 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. Identify and suggest potential training opportunities for first line transaction monitoring analysts, as warranted.
  • Assist the AML Monitoring and Reporting Manager with department-wide performance reporting as required.
  • Recommend strategies to enhance the efficiency and effectiveness of the implementation of the Transaction Monitoring and Investigations process.
  • Stay updated on the latest regulatory developments and changes in AML/CTF and Fraud requirements.
  • Identify and escalate trends in potentially suspicious activity to the AML Monitoring and Reporting Manager. Identify where activity may require escalation to other leadership, such as activity necessitating escalation to the sanctions officer or Risk.

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 four (4) 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 Microsoft Excel.
  • Effective oral and written communication skills, including ability to develop clear and direct case narratives.
  • 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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