Transaction Monitoring Officer

Job Requirements

About the Role

The Transaction Monitoring Officer is responsible for monitoring and reviewing alerts in Fraud Risk Monitoring system. It also entails making daily MIS, raising SR for frauds, and eventually closing the cases in system as per the defined process for Individual channel.

Primary Responsibilities

• Monitoring alerts of Cards, Internet & Mobile Banking, UPI transactions through various Fraud Monitoring systems e.g. Visa Risk Manager (VRM), Fraud Risk Monitoring & Management System (FRM), RSA, Active Device Monitoring (ADM) etc. FALCON (New Monitoring Tool).
• Adhering to the Transaction Monitoring SOP and comply with the guidelines.
• Timely & Efficient review of alerts during the monitoring process so as the customer and bank losses are minimized.
• Prepare and maintain a daily MIS of alerts from monitoring systems and publish it daily for tracking and status perspective.
• Review alerts & card blocks related pendency on a timely basis so as there is no escalation or customer inconvenience especially where the card is blocked by monitoring team. Logically close all pending alerts after detailed review.
• Raise the disputed alerts/case with stakeholders such as BOC, Branch, Operations team etc.
• Liaison with relevant internal stakeholders for next steps of monitoring.
• Update Supervisors and stakeholders immediately (without delay) on system downtime, IT issues faced during monitoring, cases of probable escalation etc. and keep relevant stakeholders informed for taking the issues to logical closure.
• Be punctual and work on improvement areas thereby improving abilities and skillsets required for performing the job. Ensure required integrity and display of work ethics at all times.
• Experience in Credit Cards / Retail Asset Operational processes would be an advantage.
  
  

• Ensure adherence to the guidelines set by the bank.
• Support the development of risk strategies and processes that align with the bank’s customer-first approach and strategic objectives.
  
  

• Graduate – Any discipline
• Postgraduate – MBA.
  
  

• Minimum of 2 year of relevant experience in transaction monitoring or AML-related roles.
  
  

• Strong analytical and investigative skills.
• Ability to aggregate and interpret data from multiple sources.
• Excellent communication and presentation skills.
• Understanding of fraud risk management and trends.
• Proficiency in preparing reports and summaries for senior management.