Business Analyst (Financial Crime & AML Solutions)

Job title: Business Analyst (Financial Crime & AML Solutions)

Company: VentureDive


Job description: Job Brief
Join our innovative team as a Business Analyst, where you will play a key role in shaping cutting-edge AML solutions and driving compliance excellence.. The successful candidate will play a pivotal role in analyzing, designing, and delivering AML and financial crime prevention solutions that meet regulatory and business requirements. This role bridges the gap between business needs and technical solutions, ensuring alignment with organizational goals.VentureDive Overview
Founded in 2012 by veteran technology entrepreneurs from MIT and Stanford, VentureDive is the fastest growing technology company in the region that develops and invests in products and solutions that simplify and improve lives of people world-wide. We aspire to create a technology organization and an ententrepreneurial ecosystem in the region that are recognized as second to none in the world.Key Responsibilities
Requirements Gathering:

• Collaborate with stakeholders, including compliance officers, product managers, and technology teams, to gather and document business and regulatory requirements.
• Conduct workshops and interviews to understand the needs of end-users.Elicit requirements in Epics, user stories, SRS/FRS
• Proficiency in using wireframing tools such as Balsamiq, MS Visio, or similar platforms.
• Proficient in utilizing requirements prioritization techniques like MoSCoW or Kano analysis.

Data Analysis:

• Analyze transaction patterns and financial data to identify anomalies, ensuring AML detection scenarios minimize false positives while effectively capturing high-risk activities.
• Collaborate with stakeholders to refine detection thresholds and improve accuracy, reducing false negatives and ensuring timely identification of suspicious activities.

Solution Design:

• Work closely with the development team to translate business requirements into functional specifications.
• Design workflows, process improvements, and user interfaces to enhance operational efficiency.

Regulatory Compliance:

• Stay updated on global AML regulations and ensure solutions comply with the latest standards.
• Assist in creating compliance reports and audits to satisfy regulatory requirements.

Testing & Validation:

• Develop and execute test plans to validate solution functionality and performance.
• Facilitate user acceptance testing (UAT) and ensure issues are resolved promptly.

Stakeholder Communication:

• Act as a liaison between business units and technical teams, ensuring clear and consistent communication.
• Provide training and support to end-users on new systems and enhancements.

Continuous Improvement:

• Regularly evaluate the performance of AML detection rules and scenarios, recommending optimizations to balance compliance requirements with operational efficiency.
• Identify opportunities to enhance existing financial crime management processes and tools.
• Provide feedback and recommendations to improve solution effectiveness and efficiency.

Domain Knowledge

• Understanding of customer onboarding process & understanding of relevant systems
• Customer risk assessment
• entity screening process (understanding of screening systems)
• KYC / KYB knowledge

Key Metrics:

• Ensure 100% compliance with regulatory requirements across all solutions.
• Achieve timely delivery of projects with a minimum of 99% adherence to requirements.

Business Impact:

• Reduce financial and reputational risks by ensuring the design and implementation of robust AML and financial crime management solutions.
• Enhance operational efficiency by optimizing workflows, reducing false positives in AML detection, and streamlining compliance processes.
• Drive business growth by enabling the organization to maintain compliance certifications, build customer trust, and expand services in regulated markets.

Qualifications:

• Bachelor’s degree in Computer Science, Business Administration, Finance, or a related field.
• 6+ years of experience as a Business Analyst, preferably in financial crime management, AML, or a related domain.
• Strong understanding of AML regulations, such as BSA, FATF guidelines, or EU AML directives.
• Proficiency in data analysis tools, such as SQL, Excel, or similar platforms.
• Experience with AML tools and platforms (e.g., Actimize, SAS, or FICO Tonbeller) is a plus.
• Excellent communication and stakeholder management skills.
• Strong analytical and problem-solving abilities.

Preferred Skills:

• Strong analytical skills with a focus on identifying meaningful patterns in data and reducing noise caused by false positives and negatives in AML detection systems.
• Certification in AML (e.g., CAMS, CFE).
• Familiarity with machine learning and AI applications in financial crime detection.
• Experience working in Agile environments.
• Knowledge of financial services industry practices and trends.

What we look for beyond required skills
In order to thrive at VentureDive, you
…are intellectually smart and curious
…have the passion for and take pride in your work
…deeply believe in VentureDive’s mission, vision, and values
…have a no-frills attitude
…are a collaborative team player
…are ethical and honestAre you ready to put your ideas into products and solutions that will be used by millions?
You will find VentureDive to be a quick pace, high standards, fun and a rewarding place to work at. Not only will your work reach millions of users world-wide, you will also be rewarded with competitive salaries and benefits. If you think you have what it takes to be a VenDian, come join us … we’re having a ball!#LI-HybridPowered by JazzHR

Expected salary:

Location: Karachi, Sindh – Lahore, Punjab

Job date: Wed, 29 Jan 2025 02:25:42 GMT

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