Associate Analyst/Senior Analyst- Correspondent Banking

Roles

The Analyst leads complex investigations of alerted wire transactions arising from the bank's correspondent banking relationships, providing subject-matter expertise on correspondent banking risk typologies. This role requires prior hands-on experience specifically in correspondent banking transaction monitoring, and involves mentoring junior analysts, quality review of cases, and direct engagement with escalations, SAR/STR decisioning, and regulatory examinations.

Key Responsibilities:-

• Independently review, investigate, and disposition complex/high-risk wire transaction alerts specific to correspondent banking relationships (nostro/vostro, payable-through accounts, nested relationships).
• Perform enhanced due diligence (EDD) on respondent banks, underlying originators/beneficiaries, and higher-risk jurisdictions.
• Understanding of KYC, CDD, EDD, Sanctions, negative media & PEP checks to verify customer identities and assess risk profiles.
• Assess transactions involving high-risk jurisdictions, nested banking, structuring, round-dollar payments, and other correspondent banking red flags.
• Identify and analyse correspondent banking-specific red flags (nesting, transaction layering, unusual cover payment patterns, sanctions evasion, trade-based money laundering indicators).
• Make final recommendations on SAR/STR filing and prepare filing narratives where required.
• Prepare clear, concise, and well-supported case narratives documenting investigation findings, rationale for closure or escalation, and recommendations for suspicious activity reporting where required.
• Conduct quality assurance review of alerts cleared by Analysts to ensure completeness, accuracy, and regulatory defensibility.
• Act as an escalation point for complex or ambiguous alerts and provide guidance to junior team members.
• Liaise directly with Correspondent Banking Relationship Managers, Sanctions team, Legal, and Compliance on high-risk cases.
• Support internal audits, regulatory examinations, and independent testing by providing case rationale and evidentiary documentation.
• Assist in tuning transaction monitoring scenarios/rules specific to correspondent banking risk based on emerging typologies.
• Train and mentor new Analysts on correspondent banking TM processes and typologies.
• Track industry developments, regulatory guidance (e.g., Wolfsberg Group, FATF), and sanctions updates relevant to correspondent banking.
• Support quality control activities and address feedback, rework, and process-related queries.
• Act as a subject matter expert (SME) for process-related queries.
• Support management during audits, client reviews, and regulatory examinations.
• Drive adherence to operational controls, policies, and procedures.
• Assist in achieving team productivity, quality, and client service goals.

Required Qualification & Experience

• Bachelor's degree and relevant AML/Financial Crime experience (Master's degree or relevant certification is a plus).
• 4-7 years of overall Transaction Monitoring experience, including a minimum of 2-3 years of direct experience in correspondent banking transaction monitoring (nostro/vostro alert review, respondent bank due diligence).
• Proven experience handling SAR/STR preparation and filing.
• Professional certifications such as CAMS, CFE, or other relevant financial crime compliance certifications are preferred.
• Act as a subject matter expert (SME) for process-related queries.
• Strong written and verbal communication skills.
• Ability to manage multiple priorities and meet strict deadlines.
• Experience with AML systems such as Actimize, Mantas, or similar platforms is preferred.

Skills & Competencies:-

• Good understanding of AML, KYC, Sanctions, and Financial Crime regulations
• Knowledge of correspondent banking payment flows.
• Strong analytical and investigative skills.
• Ability to identify and assess financial crime red flags.
• Excellent written and verbal communication skills.
• Strong attention to detail and decision-making abilities.
• Ability to work independently and manage competing priorities
• High level of judgment and decision-making capability in ambiguous, high-risk scenarios.