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Transaction Monitoring & Payment Screening Associate

Confirmed live in the last 24 hours

OakNorth Bank

OakNorth Bank

201-500 employees

Provides efficient lending solutions to UK businesses

Financial Services
Data & Analytics


Manchester, UK

Risk Management
Finance & Banking
Required Skills
Data Analysis
  • Basic knowledge of the UK anti-money laundering and financial crime regulatory and legislative frameworks.
  • 2-3 years banking experience in financial crime and knowledge of payment methods e.g.-CHAPS, SWIFT, FPS, etc.
  • Basic knowledge of other working areas of Financial Crime (CDD, Fraud PEP’s etc.)
  • Experience of asking open questions to customers to identify required information.
  • A keen eye for detail, allowing you to identify potential risks to the bank and our customers.
  • Very self-motivated, with a positive mind-set, having strong time-management skills.
  • Strong inter-personal skills in order to work closely with the TMPSO and other teams within the bank.
  • Support the TMPSOM with the design and assessment of payment screening and transaction monitoring systems and processes
  • Support the TMPSOM with the design and implementation of rules to identify and prevent Money Laundering, Terrorist Financing and Sanctions Evasion
  • Support with the refinement and optimisation of system configuration to reduce false positives
  • Monitor, review and complete detailed analysis and investigation of transactions referred for possible sanctions, money laundering (ML) & terrorist financing (TF) alerts and support the TMPSOM in designing and documenting standard operating procedures and controls for 1st line Payments
  • Screening Reviewing transaction alerts and assessing if permissible or requiring investigation
  • Conducting thorough investigations of all system-generated sanction and ML/TF alerts
  • Owning individual alert cases and using case management tools in completing alert investigations within required timescales
  • Collaborating with external correspondent banks to secure required data to be able to complete investigations of alerts
  • Communicating with customers where necessary to discount potential true matches
  • Obtaining required evidence for investigations to ensure effective record keeping
  • Support the TMPSOM with the amendment of rules and criteria to reduce noise and ensure valuable alerts are flagged accordingly
  • Working with Transaction Monitoring, Customer Due Diligence, Customer Operations and Fraud Operations teams as required
  • Liaising with 2nd line MLRO/Compliance team where necessary to gain advice on cases, to ensure the right outcome is delivered
  • Investigate and resolve any issues or discrepancies identified during the monitoring process
  • Support the TMPSO in ensuring compliance with relevant regulations, including sanctions and anti-money laundering laws
  • Stay up to date with changes in regulations & legislation and industry best practices related to transaction monitoring and payment screening
  • For external launch and the expected increase of business current accounts, hire and manage Payment Screening Operations Analysts in line with resource requirements
  • Deliver meaningful data analysis and insights to drive process improvements
  • Complete Suspicious Activity Reports (SARs) including Defence Against Money Laundering SARs (DAML SAR) and Defence Against Terrorist Financing (DATF SARs)
  • Support the bank with law enforcement requests in relation to financial crime.

OakNorth offers fast and flexible finance to UK businesses, utilizing advanced financial technology to streamline the lending process and providing funding ranging from £250,000 to tens of millions. The company supports businesses across various sectors and ranks among the top 1% of commercial banks globally.

Company Stage


Total Funding



, United Kingdom



Growth & Insights

6 month growth


1 year growth


2 year growth