Fraud, AML/CFT Transaction Monitoring and Disputes Specialist

Title: Fraud, AML/CFT Transaction Monitoring and Disputes Specialist

Based: Valletta

Company Overview:

Insignia is one of the most bespoke high-end lifestyle management and payment service groups in the world. We are seeking a Fraud and Disputes Specialist to join Insignia Cards Ltd, a financial institution providing card products and services to clients in Malta and other European countries.

An exciting opportunity for the right individual who is seeking a career within a dynamic company, fast expanding both locally and internationally.

The Role

With growth across the institution this role is critical to ensure a robust and measured business across our businesses.

Key requirements and personal profile:

• Manages all facets of fraud detection and prevention within company;
• Opens Disputes and handling Chargebacks interviews individuals involved and may provide assistance to law enforcement.
• Maintain proper documentation for each Fraud case
• Due to the nature of service the role is expected to exhibit flexibility around the clock when required for severe incidents and escalations
• Performs analysis of high-risk purchases/transactions and carries out ongoing transaction reviews both from a Fraud and AML perspective. 
• Analyze data to identify fraud trends and use trends to help develop new ‘fraud rules’;
• Documenting processes and developing procedures to ensure minimal risk of fraud;
• Communicates with Card Schemes, Card Scheme members, card acceptors and cardholders to ensure their account safety and prevent loss;
• Investigates and analyzes the causes, methods and process of fraud activities and generates credit card fraud prevention and analysis reports;
• Collaborates with other departments (e.g., Risk, Internal Audit, Operations and etc.) to direct Fraud/Compliance issues to appropriate existing channels for investigation and resolution.
• Ad hoc queries and projects.

AML Responsibilities:

• Communication with Insignia officers and other employees involved in the maintenance of internal control standards;
• Provide AML/CFT advisory support about transaction monitoring to internal stakeholders where required;
• Amend, create new transaction monitoring rules when required;
• Create or change internal processes for reporting and analysis of transactions;
• Assisting Compliance team in Conducting Standard and/or Enhanced Customer Due Diligence reviews for any clients performing unusual/suspicious transaction activity;
• Processing of priority requests from local authorities;
• Ensure that filings are completed accurately, timely and meeting regulatory requirement;
• Understands and stays current on the Red Flags and industry trends related to AML;
• Build and maintain positive and productive working relationships internally and externally;
• Escalate to the MLRO any suspicious/unusual activity.
• Review and disposition periodic monitoring alerts.
• Perform periodic risk-based transaction and wire transfer activity monitoring to detect and report any potential suspicious activity.
• Work with account officers to obtain information, conduct investigations, discuss account activity, and to review compliance requirement issues.
• Conduct investigations as a result of internal or official requests
• Participate in preparation of monthly reports to local management
• Stay informed of news and/or official reports directly related to customers, particularly regarding their possible involvement with money laundering or terrorist activities..
• Participate in seminars, trainings and workshops to stay updated on anti-money laundering and anti-fraud issues and regulations.
• Assists in ad hoc projects (e.g. new process/tool implementation, control remediation, as may be required)

The ideal candidate will have:

• Minimum three years’ experience in the field
• Bachelor's degree in a related field is considered an asset.
• Flexible and willingness to work flexibly if required, driven by volumes and requirements.
• An articulate communicator with the ability to lead, manage and incentivise the team.
• Customer focused with a passion to work closely with other internal stakeholders and teams.