Transaction Monitoring Quality Control Officer

at  TMF Group

Job no: 574846
Work type: Full time
Location: Amsterdam, The Netherlands
Categories: Client Onboarding, Internal Legal, Entity Management
Office Location: Amsterdam

QUALIFICATIONS

• Master’s or Bachelor’s degree in Law (or Economics) or similar solid relevant professional experience;
• Advanced degree or certifications (e.g., CAMS, CFE) are highly desirable.
• > 3 years of relevant work experience in the financial services industry, with a focus on AMLand transaction monitoring related activities preferably at a corporate service provider
• Up-to-date knowledge on compliance, know your client issues and applicable regulations (WTT, WWFT, Sanction legislation, AMLA, FATCA, CRS and AIFMD)
• Excellent writing skills; be able to formulate complicated matters in a clear and understandable way
• Good analytical skills to describe risks with mitigating factors and mitigating measures
• Good stakeholder management skills
• Capability to understand complex legal frameworks and tax structures
• Experience with MS Office and database knowledge
• Excellent English communication skills
  Advertised: 04 Sep 2024 W. Europe Daylight Time
  Applications close: 18 Oct 2024 W. Europe Daylight Time

JOB PURPOSE

The Transaction Monitoring Quality Control Officer is responsible for performing a quality control on the Transaction Monitoring Lookback. A risk-based approach will be developed for the Quality Control Team, taking into account the methodology of the lookback and risk factors such as transactions with high risk countries, high risk counterparties and transactions with a significant monetary value. This role plays a critical part in the prevention and detection of money laundering and other financial crimes by reviewing, assessing, and improving the quality of the TM Lookback outputs. The ideal candidate will have a strong background in AML, financial crime compliance, and quality control methodologies.
Quality Control will report monthly to MT and provide direct feedback to the respective TM analyst in case of any findings.

KEY RESPONSIBILITIES

• Conduct thorough quality control reviews of transactions and ensure that this in compliant with internal policies, regulatory requirements, and industry best practices.
• Assess the effectiveness of the transaction monitoring processes and systems, identifying areas for improvement and providing recommendations.
• Review and verify the accuracy and completeness of monitored transactions
• Develop and maintain quality control frameworks, including a risk-based approach for the Quality Control Team, taking into account the methodology of the lookback and risk factors such as transactions with high risk countries, high risk counterparties and transactions with a significant monetary value
• Collaborate with the transaction monitoring officers to address and resolve identified deficiencies and ensure corrective actions are implemented in a timely manner.
• Provide feedback and training to the transaction monitoring team to enhance their understanding of AML requirements and improve the quality of their work.
• Work closely with the Compliance, Risk, and Internal Audit teams to ensure a coordinated approach to AML compliance and quality control.
• Delivers an active contribution to improve the professional knowledge of our staff in the field of Transaction Monitoring/AML. This includes active involvement with development, improvement and maintenance of procedures, templates, soft and hard copy libraries and other know how resources on the matter
• Creates a culture of risk awareness and influences the development of a positive AML culture by seeking continuous improvement and efficiencies
• Responsible for developing trainings (content-wise), share knowledge and educate stakeholders