Senior Compliance Analyst

Executive search firm Monroe Consulting Group Philippines is recruiting on behalf of a renowned international money transfer processing company. Our highly respected client is looking for a dynamic Senior Compliance Analyst who has experience in compliance, risk management, or financial services role. This is a hybrid work arrangement with an office based in Manila.

Job Summary

The Senior Compliance Analyst ensures the company's adherence to the Bank Secrecy Act ("BSA"), Anti-Money Laundering ("AML") regulations, and related compliance policies. This role involves supervising the daily operations of the compliance team, reviewing and approving transactions, overseeing due diligence efforts, and ensuring the timely submission of regulatory reports. The Senior Compliance Analyst will also provide guidance on potential Suspicious Activity Reports (SARs), blacklist decisions, and Enhanced Due Diligence (EDD) requirements.

Key responsibilities include :

Compliance Operations & Transaction Monitoring

• Supervise transaction monitoring processes, ensuring timely reviews and approvals of daily, monthly, quarterly, and yearly aggregation reports, OFAC, Blacklist, and PEP screenings.
• Oversee the approval and release of on-hold transactions based on compliance reviews and recommendations.
• Ensure the confidentiality and safekeeping of transaction data and those under AML investigation.
• Review and approve the blacklisting of customers related to STR, cancellations, noncompliance, and OFAC matches, subject to final approval from the Compliance Officer.
• Oversee completion and submission of aggregated transaction reports (30, 60, 90 days) to head office, ensuring accuracy and compliance with reporting standards.

Enhanced Due Diligence & Risk Management

• Review and recommend EDD actions for high-risk customers.
• Assist Risk and Compliance Manager to ensure due diligence processes for new and existing tie-up partners, including annual reviews and documentation management.
• Assist in the compliance testing and audit process, ensuring adherence to internal and regulatory standards.
• Assist in filing Suspicious Transaction Reports (STRs) , Covered Transactions (CTRs) and other mandatory reports with the Bangko Sentral ng Pilipinas (BSP) and Anti-Money Laundering Council (AMLC).
• Ensure timely reviews of on-hold transactions and proper escalation of potential compliance issues.

Team Leadership & Training

• Manage workforce scheduling and allocation, subject to final approval by the Country Director.
• Conduct monthly performance review and quality reviews (Salesforce and hold/frozen transactions).
• Oversee employee onboarding processes.
• Provide coaching and mentorship to compliance team members.
• Assist on conducting compliance-related trainings for new and existing rank-and-file employees to ensure continuous improvement in compliance awareness.

Stakeholder Engagement & Reporting

• Maintain regular communication with internal and external stakeholders, including selling agents, LRC, remitters, beneficiaries, SUT and UFI compliance units, payers, and regulatory bodies.
• Assist in preparing and implementing team schedules, ensuring optimal efficiency and coverage.
• Support the Risk and Compliance Manager in handling complex transaction concerns.
• Monitor and track the submission status of required documents from tie-up partners for due diligence reviews.

Policy Making and Reinforcements / Process Improvements

• Assist in the preparation and execution of compliance policies, procedures, and internal controls.
• Assist in designing processes and procedures as needed and ensure proper documentation. Conduct periodic assessments and evaluations of existing compliance frameworks to enhance operational efficiency.
• Support the Compliance Officer and Risk Manager in special projects and regulatory initiatives.

Key requirements include:

• Bachelor's degree or at least a 2-year associate degree in a relevant field.
• Minimum of three (3) years of experience in compliance, risk management, or financial services role.
• Strong oral and written English communication skills.
• Proven ability to lead, manage, and inspire a team.
• Excellent organizational and time-management skills.
• Proficiency in intermediate to advanced computer applications, particularly in data management and reporting tools.
• Ability to work in rotational shifts (day and night shifts as required).