Transaction Monitoring Analyst : IDFC FIRST Bank

IDFC FIRST Bank stands out as the new-age bank in India, driven by principles of ethical banking, technological innovation, and societal welfare. With a strong commitment to serving customers ethically, the ‘Near and Dear’ Test, assures that our products meet the standards we’d want for our loved ones. We reject unethical income and simplify our offerings, eliminating fees on various services such as Savings Accounts, Debit Cards and transactions, making us the FIRST and only bank in India to do so. Our approach is customer-centric, with transparent and user-friendly products, levelling up the industry standards. Technological advancement is at the core of our banking experience. Our cutting-edge mobile app offers over 250 features, providing convenience and efficiency to our customers, including goal-based investing, digital payments, and personal finance management. For businesses, we provide on-the-go solutions for bulk payments, tax payments, and seamless integration with ERP systems, enhancing operational efficiency. In line with our commitment to social banking, we have a track record of financing millions of customers, including SMEs, livelihood improvement initiatives, sanitation projects, mobility loans, and home financing, with a focus on empowering and uplifting female entrepreneurs and supporting rural communities. As a Universal Bank, we offer a comprehensive suite of services, including corporate banking, trade finance, wealth management, NRI banking, and cash management, catering to diverse needs across sectors. Furthermore, environmental, social, and governance (ESG) considerations are deep rooted in our operations, reflecting our commitment to sustainable and responsible banking practices. We strive to create a new age, ethical and world-class bank, recognising our privilege and living up to the responsibility of positive contribution to the growth and development of the nation.

Function/ Department: Compliance

Job Purpose:

The role holder has the responsibility to carefully monitor fund transfers for the bank, report for any suspicious activity or AML for the assigned businesses. It entails creating Suspicious Transaction Reports, summaries, presentations for senior management to develop strategies aligning to the larger objectives of the bank.

 Roles & Responsibilities:

• Investigate suspicious activity, including all forms of funds transfers.
• Perform AML monitoring of assigned businesses, support autonomous reviews and investigations.
• Aggregate data from multiple sources to provide a comprehensive assessment.
• Create Suspicious Transaction Reports (STRs)
• Advise the assigned businesses units on AML suspicious activities.
• Identify economic and financial trends that may present a risk to the company.
• Assure adherence to the guidelines set by the bank.
• Support in developing risk strategies and processes that support the Bank’s customer first approach and are aligned to the Bank’s strategic and commercial objectives.

Education Qualification:

Graduation: Any Graduation

Experience:  2 – 5 years of work experience

Certification: AML and KYC (IIBF) or Certified Anti Money Laundering Investigator (CAMI) or Certified Anti Money Laundering Expert (CAME) (Preferred)