The Senior Compliance Analyst plays a crucial role by ensuring the business operates in accordance with all legal and regulatory requirements and all group standards relating to anti-money laundering, counter financing of terrorism (AML), and fraud prevention. Additionally, the analyst is responsible for advanced investigations that detect and report suspicious activity to government authorities and enable MoneyGram to form sound judgements concerning reputational and other risks while meeting expectations of regulators and other compliance stakeholders. The Senior Compliance Analyst is expected to stay current with industry trends, fraud type trends, and to actively contribute to the creation, implementation, and the monitoring of operational processes and procedures needed to mitigate the risk of fraud losses and money laundering.
Reviews and analyzes transactional data for potential suspicious activity, including those generated from detection processes, subpoenas and warrants, country/corridor reviews, foreign and domestic agent matters, consumer network cases, negative media reports, as well as other sources as applicable.
Work effectively with multiple complex data sources and/or technical analytical tools/resources to identify potentially unusual or suspicious activity as defined by AML/BSA regulations, and industry best practices for AML/BSA analysis. This includes (but is not limited to):
Identifies, researches, and reports suspicious activity.
Manages the investigative process from initial detection to disposition and filing.
Thoroughly and timely reviews reports and other investigative leads that potentially identify suspicious activity.
Formulates and recommends responses to potentially suspicious findings, reports such activity to the appropriate regulatory authorities, and supports MoneyGram's forward-looking risk-mitigation response.
Completes all investigation outputs, which may include regulatory filing and other mitigation actions within required service level agreement (SLA) timelines.
Actively supports managers and supervisors in conducting advance level AML/Fraud investigations.
Assists as back-up for supervisors/managers as needed with the day-to-day execution of MoneyGram's AML/CFT & Fraud programs, including, but not limited to: assigning cases, ensuring internal and external SLAs are met, and escalating findings to leadership.
Defines, recommends, and implements controls and/or improvements to current controls to reduce incidents of fraud throughout the organization.
Assists in the training and onboarding of new analysts.
Works with Analysts to elevate the team's decision-making ability to determine the proper course of action in handling potentially suspicious activity as required by applicable global regulatory, law enforcement or, Financial Intelligence Units.
Prepares and distributes communication to team members related to changes in regulations, impact on MoneyGram operations as well as any actions needed, and conducts training sessions when necessary.
Writes and files Suspicious Activity Reports and apply appropriate risk mitigation measures.
Serves as a point of contact for various Compliance, Advisory, or Business teams, Legal, Security and Law Enforcement, or other internal departments as necessary. Tasks completed from these departments include (but are not limited to):
Testing on new systems and/or software.
Perform side-by-side review of the end-to-end investigation process with examiners, regulators, and others as required.
Performs other duties as assigned.
Any combination of relevant education and experience and/or related professional designations/certifications in this field is highly desirable.
5 years' experience in financial compliance investigations, Anti-Money Laundering, Fraud Prevention, or a related field in a Money Service business.
Investigations experience in a Money Service Business preferred.
3 year of experience in writing and preparing Suspicious Activity Reports (SARs) or similar in accordance with applicable regulatory requirements preferred.
CAMS of CFE certification preferred.
Advanced knowledge of laws applicable to money laundering, including the BSA, USA Patriot act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements; and/or global AML/CFT/Fraud laws and regulations.
In-depth knowledge of domestic and international higher risk countries, jurisdictions, and corridors that are of AML/CTF concern.
Demonstrated ability to work successfully in a fast pace, highly structured, deadline driven culture.
Excellent organization, strong time management skills, including the ability to effectively prioritize work assignments with changing priorities.
Must be a self-starter with strong attention to detail.
Must be able to work independently or in a team environment under minimum supervision.
Drives results through team work, communication, and critical thinking.
Exceptional research and analytical, cross-referencing, and deductive reasoning skills.
Excellent written and verbal skills necessary to interact and communicate with various levels of internal and external clients, up to and including senior leadership & law enforcement.
Ability to communicate effectively with a culturally diverse agent and consumer base.
Experience working with highly confidential information.
Must be capable of sharing knowledge, mentoring, and training other team members.
Have a solid business knowledge and comprehension of MoneyGram products and services globally.
Moneygram International Inc