Transaction Monitoring Analyst

Duplo is a Lagos-based fintech startup that enables businesses in Africa to automate their spend management, simplify cross-border payments, and control business finances all on one platform.

We want to make B2B payments as simple as P2P payment apps. Most business payments in Africa are made offline….yikes. We are on a mission to transform this. We are backed by top investors including Point Nine, Tribe Capital, Commerce Ventures, Liquid2 Ventures, Basecamp Fund, Soma Capital, YCombintaor, Oui Capital, and others.

This is a unique opportunity. You'll have the responsibility and resources to take a significant part in the creation of a paradigm-changing product that will impact millions.

Responsibilities

• Review and analyze transactional alerts generated by systems, checking for patterns like structuring or layering.

• Escalate high-risk cases and file Suspicious Activity Reports (SARs) or Suspicious Transaction Reports (STRs).

• Ensure compliance with Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and Know Your Customer (KYC) regulations.

• Spot unusual behavior and understand financial flows.

• Analyze transactions and identify suspicious and unusual patterns and behaviors.

• Ensure suspicious transactions are flagged for additional reviews, and liens are placed on confirmed suspicious inflows.

• Contact customers to verify the authenticity of transactions using the enterprise’s applications and tools.

• Report suspicious outflows to beneficiary institutions and collaborate with external parties, including financial institutions and law enforcement agencies, to salvage funds.

• Stay up-to-date with changes in AML laws, financial crime regulations, and industry standards that impact transaction monitoring. 

• Assist in the development and review of internal AML policies and procedures, ensuring they remain effective and compliant with the latest regulations.

• Assess the risks associated with flagged transactions and potential money laundering schemes, ensuring the company effectively mitigates these risks.

•  Communicate findings and concerns regarding suspicious transactions to senior management and external stakeholders as necessary.

• Engage with external regulators or law enforcement agencies when required, providing necessary information and reports as part of investigations into suspicious activities.

• Participate in AML training programs to stay current on regulatory requirements, trends in financial crime, and effective monitoring techniques. 

• Assist in the development of training materials for internal staff on AML procedures, transaction monitoring practices, and recognizing suspicious activities.

Requirements

•  A Bachelor’s degree in law, finance or business is preferred.

• Minimum of 2 years work experience in compliance or financial crime, particularly within the fintech or banking sector

• Excellent written and verbal communication skills.

• Strong problem-solving skills, with the ability to work in ambiguous or fast-paced environments.

• Excellent organizational skills and attention to detail.