Transaction Monitoring Officer

Transaction Monitoring Analyst

Job Description:
Driving & implementing strong fraud prevention mechanism across the ecosystem by way of recommending fraud control measures for all digital channels.

Developing & streamlining Fraud Prevention & detection strategies with proven ability to enhance operational effectiveness by carrying out Fraud Risk Assessments/Review for new and existing digital products, channels & processes

Roles & Responsibilities:
Ensure to Action 100% Alerts timely and within 5 mins of alerts raised for 100% alerts

To ensure frauds are mitigated by way of astute and proper monitoring after reviewing customer's profile, transactions, fraud trends and other dynamics.

Ensure to achieve 100% catch rate on frauds which were alerted by way of alerts. Take proactive steps in minimizing losses arising out of disputed transactions by way of blocking/hot listing cards, liaising with internal/external stakeholders and initiating process of reversal/recovery by writing to concerned merchants, banks, teams etc.

Adherence of process in highlighting dispute cases BOC, Recon, Branch etc. on immediate basis.

To initiate callout on at least 25% of the alerts, and the discarding of alerts to be done after detailed review of the alert.

Preparing and publishing daily MIS along with pendency and key metrics

Reviewing underlying or any other suspicious trends and highlight to supervisors

Tracking of pendency and closure of alerts to take those to logical end

Monthly MIS and key data elements w.r.t monitoring to be shared with supervisor.

To ensure prompt monitoring of alerts without delay and hence to achieve 100% catch rate

Discard of alerts to be done only after careful and detailed review of alerts/profile, so as the losses to customer and bank are avoided.

To stay vigilant for any underlying trends, potential loss situations and act swiftly by highlighting to all stakeholders and by taking prompt actioning.

Adhering to calling scripts and to comply with monitoring guidelines as given periodically.

Strict adherence to Rostering and disciplined approach on work leading to no miss outs.

Adherence to templates for internal/external liaison, Email & Customer Interaction Etiquettes

Customer Focus to be the primary goal and hence First Time Right approach to be followed.

Have discipline, alertness, punctuality, Open to learn and maintain integrity at work place.

Ensure to attend regular training and train the analysts team of off roles for bringing them up the curve to handle dynamics of transaction monitoring.

Compliance to SOP and Process guidelines in monitoring and related activities

Work towards achieving customer first approach and improve on customer handling skills

Ensure to have strict adherence to guidelines related to regulators and internal Bank's ethos/values

Timely reporting of issues, disputes, frauds, suspicious trends, data, any abnormal behavior of the team to supervisors

Contribute to the team cause and organization values by way of additional efforts wherever required.Qualifications

University degree/ Diploma holders with 2-3 years banking experience in transaction monitoring domain will be considered -

Well versed with regulatory guidelines on transaction monitoring procedures.

Demonstrate ability to perform detailed analysis of data based on policy and work instructions

Possess strong attention to detail, research, analytical and investigation skills

Proficient in writing with strong communication and interpersonal skills

Self-driven with high level of initiative and follow-through skills

Able to work independently as well as in a team.