Job Description
Transaction Monitoring Analyst
Job Description:
Driving & implementing strong fraud prevention mechanism across the ecosystem by way of recommending fraud control measures for all digital channels.
Developing & streamlining Fraud Prevention & detection strategies with proven ability to enhance operational effectiveness by carrying out Fraud Risk Assessments/Review for new and existing digital products, channels & processes
Roles & Responsibilities:
Ensure to Action 100% Alerts timely and within 5 mins of alerts raised for 100% alerts
To ensure frauds are mitigated by way of astute and proper monitoring after reviewing customer's profile, transactions, fraud trends and other dynamics.
Ensure to achieve 100% catch rate on frauds which were alerted by way of alerts. Take proactive steps in minimizing losses arising out of disputed transactions by way of blocking/hot listing cards, liaising with internal/external stakeholders and initiating process of reversal/recovery by writing to concerned merchants, banks, teams etc.
Adherence of process in highlighting dispute cases BOC, Recon, Branch etc. on immediate basis.
To initiate callout on at least 25% of the alerts, and the discarding of alerts to be done after detailed review of the alert.
Preparing and publishing daily MIS along with pendency and key metrics
Reviewing underlying or any other suspicious trends and highlight to supervisors
Tracking of pendency and closure of alerts to take those to logical end
Monthly MIS and key data elements w.r.t monitoring to be shared with supervisor.
To ensure prompt monitoring of alerts without delay and hence to achieve 100% catch rate
Discard of alerts to be done only after careful and detailed review of alerts/profile, so as the losses to customer and bank are avoided.
To stay vigilant for any underlying trends, potential loss situations and act swiftly by highlighting to all stakeholders and by taking prompt actioning.
Adhering to calling scripts and to comply with monitoring guidelines as given periodically.
Strict adherence to Rostering and disciplined approach on work leading to no miss outs.
Adherence to templates for internal/external liaison, Email & Customer Interaction Etiquettes
Customer Focus to be the primary goal and hence First Time Right approach to be followed.
Have discipline, alertness, punctuality, Open to learn and maintain integrity at work place.
Ensure to attend regular training and train the analysts team of off roles for bringing them up the curve to handle dynamics of transaction monitoring.
Compliance to SOP and Process guidelines in monitoring and related activities
Work towards achieving customer first approach and improve on customer handling skills
Ensure to have strict adherence to guidelines related to regulators and internal Bank's ethos/values
Timely reporting of issues, disputes, frauds, suspicious trends, data, any abnormal behavior of the team to supervisors
Contribute to the team cause and organization values by way of additional efforts wherever required.Qualifications
University degree/ Diploma holders with 2-3 years banking experience in transaction monitoring domain will be considered -
Well versed with regulatory guidelines on transaction monitoring procedures.
Demonstrate ability to perform detailed analysis of data based on policy and work instructions
Possess strong attention to detail, research, analytical and investigation skills
Proficient in writing with strong communication and interpersonal skills
Self-driven with high level of initiative and follow-through skills
Able to work independently as well as in a team.
Job Description:
Driving & implementing strong fraud prevention mechanism across the ecosystem by way of recommending fraud control measures for all digital channels.
Developing & streamlining Fraud Prevention & detection strategies with proven ability to enhance operational effectiveness by carrying out Fraud Risk Assessments/Review for new and existing digital products, channels & processes
Roles & Responsibilities:
Ensure to Action 100% Alerts timely and within 5 mins of alerts raised for 100% alerts
To ensure frauds are mitigated by way of astute and proper monitoring after reviewing customer's profile, transactions, fraud trends and other dynamics.
Ensure to achieve 100% catch rate on frauds which were alerted by way of alerts. Take proactive steps in minimizing losses arising out of disputed transactions by way of blocking/hot listing cards, liaising with internal/external stakeholders and initiating process of reversal/recovery by writing to concerned merchants, banks, teams etc.
Adherence of process in highlighting dispute cases BOC, Recon, Branch etc. on immediate basis.
To initiate callout on at least 25% of the alerts, and the discarding of alerts to be done after detailed review of the alert.
Preparing and publishing daily MIS along with pendency and key metrics
Reviewing underlying or any other suspicious trends and highlight to supervisors
Tracking of pendency and closure of alerts to take those to logical end
Monthly MIS and key data elements w.r.t monitoring to be shared with supervisor.
To ensure prompt monitoring of alerts without delay and hence to achieve 100% catch rate
Discard of alerts to be done only after careful and detailed review of alerts/profile, so as the losses to customer and bank are avoided.
To stay vigilant for any underlying trends, potential loss situations and act swiftly by highlighting to all stakeholders and by taking prompt actioning.
Adhering to calling scripts and to comply with monitoring guidelines as given periodically.
Strict adherence to Rostering and disciplined approach on work leading to no miss outs.
Adherence to templates for internal/external liaison, Email & Customer Interaction Etiquettes
Customer Focus to be the primary goal and hence First Time Right approach to be followed.
Have discipline, alertness, punctuality, Open to learn and maintain integrity at work place.
Ensure to attend regular training and train the analysts team of off roles for bringing them up the curve to handle dynamics of transaction monitoring.
Compliance to SOP and Process guidelines in monitoring and related activities
Work towards achieving customer first approach and improve on customer handling skills
Ensure to have strict adherence to guidelines related to regulators and internal Bank's ethos/values
Timely reporting of issues, disputes, frauds, suspicious trends, data, any abnormal behavior of the team to supervisors
Contribute to the team cause and organization values by way of additional efforts wherever required.Qualifications
University degree/ Diploma holders with 2-3 years banking experience in transaction monitoring domain will be considered -
Well versed with regulatory guidelines on transaction monitoring procedures.
Demonstrate ability to perform detailed analysis of data based on policy and work instructions
Possess strong attention to detail, research, analytical and investigation skills
Proficient in writing with strong communication and interpersonal skills
Self-driven with high level of initiative and follow-through skills
Able to work independently as well as in a team.
💡 Quick Summary
Seeking a career-building opportunity? The Transaction Monitoring Officer position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.