Risk Management Analyst
Who Are We?
MerchantE is an innovative, technology-focused company providing a full-service platform to support the payment processing needs for merchants of all sizes, including small business retail shops, B2B wholesalers, and global eCommerce enterprises. We partner with financial institutions, software developers, independent sales organizations, and agents to bring our solutions to market.
Why Join Us?
We’re growing and we’re looking for collaborative, innovative, and hard-working individuals to grow with us! We offer a modern and inspiring work environment where your ideas and contributions are valued. Come experience, first-hand, the impact of your contributions.
Seeking a Risk Management Analyst. The candidate will be responsible for reviewing alerts triggered by the Anti-Money Laundering - Transaction Monitoring system to detect potentially "unusual" or suspicious pattern of transactions. Applying research and analysis techniques to digest complex information sets to make logical and adequately supported determinations regarding unusual and potentially suspicious activity. Assessing customer profiles and client data to identify whether activity is consistent with typical merchant behavior/payment processing activity. Generating monthly reporting to provide insights into alerts and patterns and trends. Conducting peer group analysis by customer type, sales channel, and product type. Escalating determinations of unusual or suspicious activity to BSA/AML Officer. Other duties and responsibilities may be assigned, according to the needs of the AML or Regulatory Risk Team and the Company.
Performing reviews of OFAC and other watchlist alerts. Identifying hits and performing research. Investigating denied parties and sanctions potential matches that arise from MerchantE’s screening solution. Writing and documenting comprehensive narratives for clearing alerts. Escalating potential sanctions violations and/or reputational/financial risks. Assist with OFAC rule tuning. Tagging OFAC records daily with the appropriate Sponsor Bank Number in the case management system. Maintaining the case management system, including ensuring potential duplicate values are removed. Creating monthly reports. Assisting in projects or other tasks as may be assigned related to BSA/AML and OFAC. Ensuring that policies and procedures are adhered to daily and have this evidenced. Developing an ongoing understanding of AML/OFAC requirements and implications. Identifying problem items and escalating to the BSA/AML Officer, as necessary. Working closely with colleagues in broader compliance discipline and lines of business.
This person will be responsible for documenting findings and making recommendations for corrective action when exceptions are noted. Prepare reports by collecting, analyzing, and summarizing information and trends. Maintain a task-oriented approach to compliance and be results oriented.
Essential Duties and Responsibilities:
- Good critical thinking skills
- Performs well under pressure
- Strong attention to detail and task-oriented
- Have a global view( Attention to the big picture)
- Ability to interpret the spirit of rules and regulatory requirements
- Experience with Bank Secrecy Act compliance required
- Gain and maintain a working understanding of applicable federal and state laws and regulations governing the financial services industry
- Able and willing to credibly challenge non-compliant behavior
- Identify control deviations and compliance exceptions
- Provide heightened awareness around significant risks and proactive identification and remediation of control weaknesses or gaps
- Escalate promptly to Regulatory Oversight and Assurance Manager any material breaches of applicable laws, rules, policies with actual or potential compliance risk impacts
- Ability to build and foster successful working relationships
- Bachelor’s degree required
- 2 + years of compliance risk management and/or audit experience, strongly focused on risks and controls and risk-based auditing techniques
- 2-3 years of demonstrated risk management experience
- Knowledge of financial services compliance and related rules and regulations of the financial services industry
- Sound understanding of compliance risk
- Proven ability to work in a team environment
- Strong problem solving/analytical skills and ability to effectively summarize findings
- Proficient in Microsoft Office tools such as Excel and Access