Transaction Monitoring Analyst|
Researches detailed information including names and accounts provided by multiple sources to determine whether there is evidence of money laundering activity based on AML Compliance Office policies and procedures. Evaluates transactions and customer relationships based on established protocol identifying issues and escalating for further investigation. Communicates discoveries and issues with internal AML constituents and external customers to support successful discovery of money laundering activities.
Impact on the Business
- Performs name and account based research on lists and reports provided through established resources to determine if evidence of money laundering activities exist. Evaluates transactions and customer relationships for money laundering activities, identifies red flag issues, and escalates within the AML framework for further investigation.
- Maintains familiarity with appropriate investigation techniques to support AML activities, including research utilizing bank systems, intranet, internet and external vendor solutions as appropriate.
- Effectively communicates within the AML Compliance organization and across other areas in HNAH, effectively conveying key information to both internal and external audiences as appropriate.
- Provides additional support with the AML compliance organization on more complex issues, including research techniques and capabilities, as well other solutions as appropriate.
Customers / Stakeholders
- Helps to foster a positive culture of compliance by working proactively with the business, BRCM, internal controls functions, and other Compliance professionals to ensure that best practices and systems are in place to facilitate business growth and the overall success of HSBC in accordance with applicable laws, rules, regulations and internal policy.
- Maintains relationships with internal stakeholders in the AML Compliance Office and other areas to help ensure research techniques and capabilities perform at high levels.
- Maintains external awareness of research trends, information, and techniques related to money laundering, andcommunicates to appropriate levels of the AML Compliance organization.
Leadership & Teamwork
- Provides support and expertise to the AML Compliance organization on research techniques, capabilities, and systems.
- Effectively communicates within AML Compliance, re-enforcing that knowledge on key information, policies and procedures is understood with all constituents both internal and external.
- Maintains awareness of AML/BSA trends and other related industry practices helping ensure external knowledge and focus is not lost.
- Helps provide project management support on compliance-related projects and initiatives, as requested, to ensure they progress toward a common goal in alignment with agreed timelines.
- Provides assistance to other investigators when necessary/requested
Operational Effectiveness & Control
- Helps monitor activities within AML Operations to ensure compliance with applicable internal policies and procedures and external regulations.
- Escalates complex or significant issues to more senior compliance employees, as appropriate.
- Participates in special AML reviews, projects, and training efforts, as required.
- Discharges the accountabilities set out in the Legal and Compliance Functional Instruction Manual (FIM) by pro-actively assisting management in identifying and containing compliance risk, monitoring, reporting, and certification, fostering a compliance culture and optimizing relations with regulators.
- To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
- Complete other responsibilities, as assigned.
- Financial services compliance entails a high degree of regulatory compliance and reputational risk, particularly with respect to risks arising out of non-compliance with extensive and complex regulations. Failure to comply with these regulations would have significant negative effects on relations with regulators, the reputation of the Company with the public and may result in regulatory impediments to mergers and acquisitions and significant regulatory sanctions, including regulatory fines of material amounts.
- Maintains a high degree of compliance in an environment of extensive and increasingly complex regulations.
- Reports directly to the Team Leader Ops AML Monitoring;Directly supports activities in the AML Operations department.
- Reviews systematic Anti-Money-Laundering (AML) alerts and determines whether transactions occurring are valid Anti-Money Laundering risks. Performs encompassing research taking into account various AML risk factors
- Demonstrates a thorough understanding of policies and procedures pertaining to the role. Aware of what constitutes an effective control environment.
- Coordinates internal processes for the revision, review, approval, and publication of policies applicable to the business unit as well as internal departmental procedures to support functions that are the responsibility of Compliance.
- Establishes process for the distribution of Compliance related communications from the department. Partners with management to create and deliver internal training and manage special projects within the department.
Management of Risk
- Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
- Adheres to the Firm’s Statement of Business Principles and Code of Ethics.
Observation of Internal Controls
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- As appropriate for the role, ensures alignment with regulatory requirements, the Compliance of FIM, HNAH’s BSA/AML Policy, other Group policies and all related policies and procedures.
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Qualifications & Requirements
- Bachelor’s degree in business, finance, accounting, related field or equivalent experience.
- Strong interpersonal, organizational, communications, analytical and project management skills.
- Thorough knowledge of products, services, operations and systems and extensive dealing with laws, regulations and regulatory agencies related to assigned areas.
- Proficiency with personal computers and pertinent mainframe systems and software packages.