The Compliance Quality Assurance Analyst plays a crucial role by ensuring compliance with regulatory expectations and internal policies and procedures. This role is responsible for assessing reviews or investigations conducted by different compliance groups (e.g. Agent Oversight and Actions, Global Due Diligence, Transaction Monitoring and Reporting, and Financial Intelligence Unit) to ensure procedural adherence, supportable case disposition (where applicable), adequacy of research and analysis, mitigation actions, documentation/record keeping, and management oversight.
The Compliance QA Analyst is expected to be a subject matter expert in the supported areas and is expected to provide guidance and feedback related to the procedures and regulatory impact of the errors identified.
- Perform Quality Assurance assessments in accordance with AML/CFT, regulatory, Fraud prevention policies and departmental procedures within established timeframes and identifies instances where a decision to file a SAR or clear a case were inadequate and ensures proper action is taken, including verifying the proper amendment of SARs or additional agent and consumer level mitigating actions.
- Document the results of QA assessments in accordance with applicable recordkeeping guidelines and provide feedback and guidance on proper procedural implementation.
- Provides targeted training to Analysts or Regional Compliance Officers, as applicable, to ensure processes are followed and results of research are clearly identified and documented.
- Actively support managers and supervisors with performance management, assisting in error trend analysis and designing and implementation of improvement plans and training programs.
- Provide insight into quality gaps discovered and ensure these gaps are communicated to appropriate management and business owners.
- Maintain a working knowledge of regulations applicable to the business, any business changes as well as pertinent internal regulatory policy and procedural changes.
- Coordinate with team members and other departments to determine the proper course of action in handling potentially suspicious activity as required by applicable global regulatory, law enforcement or, Financial Intelligence Units.
- Liaise with various internal departments as necessary.
- Perform other duties as assigned.
- Any combination of relevant education and experience and/or related professional designations/certifications in this field is highly desirable.
- BA /BS in business, finance, law enforcement, legal studies, or a related field; may be substituted with equivalent work experience in Financial Services, Law Enforcement, Banking, or a related field.
- 2-5 years' experience in KYC/GDD, financial compliance investigations, SAR/STR/CTR reporting, Anti-Money Laundering, Fraud Prevention compliance program audit or a related field.
- Investigations experience in a Money Service Business preferred.
- 1 year of experience providing feedback, coaching, training, in a related field.
- CAMS or CFE certification preferred.
- Intermediate knowledge of BSA, USA Patriot act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements, and/or global AML/CFT/Fraud laws and regulations preferred.
- 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.
- 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.
- Experience working with highly confidential information.
- Capable of sharing knowledge and feedback, mentoring, and training other team members.
- Have a solid business knowledge and comprehension of MoneyGram products and services globally.
- Strong sense of ownership and responsibility.
- Must be proficient in Microsoft Office.