Transaction Monitoring Analyst, Upgrade
Financial Crimes
$70-90k
+ Stock Options
2-3 days a week in office
Offering responsible credit to mainstream consumers
Job no longer available
Offering responsible credit to mainstream consumers
1001+ employees
Job no longer available
$70-90k
+ Stock Options
2-3 days a week in office
1001+ employees
Company mission
To help our customers move in the right direction with responsible financial products that put more money in their pocket.
Role
Who you are
- Bachelor’s degree or higher
- 2+ years of experience in anti-financial crimes (AML investigations, TM investigations, Fraud Investigations, EDD, KYC, Sanctions, etc.)
- Working knowledge of fraud and AML typologies and current financial crime trends
- Understanding of financial products, including credit cards, lending products, and deposit accounts
- Excellent research, analytical, and communication skills
- Experience in in meeting regulatory and business deadlines with a sense of urgency while maintaining high standards for quality and professionalism
- Advanced knowledge of Microsoft Office, Google Suite, and Atlassian products
- Experience with LexisNexis research tools (AML Insight, Bridger) and/or ComplyAdvantage preferred, but not required
What the job involves
- The position of Transaction Monitoring (TM) Analyst is a part of the Financial Crimes team, which reports up through the Risk & Compliance group.
- The TM team is responsible for monitoring customer transactions for any potential risk of unusual or suspicious money laundering activities, or other related financial crimes.
- As a TM Analyst, you will work under the leadership of the AML Manager and will review Automated Transaction Monitoring alerts, analyze customer transactions, and disposition the alerts according to applicable policies and procedures
- Review and analyze automated Transaction Monitoring alerts and make the appropriate recommendation of escalating the alert for further investigation or dismissing the activity as non-suspicious
- Prepare detailed TM investigation narratives that clearly explain the activity, risks, and reasoning for the disposition of a case
- Organize evidence collected throughout the investigation including documentation, images, and call recordings
- Manage your caseload appropriately to ensure timely completion of cases while consistently meeting production and quality expectations as directed by management
- Assist the AML Manager with additional tasks and/or service level agreements to support the Financial Crimes team
Our take
Most credit cards don't encourage the owner to pay down their debt. The longer it takes to pay off the balance, the more money lenders are set to make. Upgrade is an online lender and card issuer doing things differently. The company offers personal loans and credit cards but with a fixed instalment structure and a set number of equal payments. This ensures the balance reduces every month.
The company believes this model reduces default rates, as borrowers are forced to pay down rather than maintain their debt, and it encourages a greater commitment to repay the balance. Further, by combining the ease of a Visa card with the fixed payments and decreased rates of a personal loan, Upgrade sets itself apart from competitors.
In 2021, Upgrade launched its mobile banking and debit card as a strategy to onboard new customers and increase loyalty. The fixed-rate nature of the company's cards is expected to be of use to customers in future years in an environment of rising rates. Upgrade also plans to expand beyond the U.S. in the future, which will represent new challenges for the business as it adapts to alternative regulations.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
18% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Nov 2021
$280m
SERIES F
Aug 2021
$105m
SERIES E
Total funding: $547m
Company benefits
- Stock option plan
- 100% paid coverage of medical, dental and vision insurance
- Flexible PTO
- Opportunities for professional growth and development
- Paid parental leave
- Health & wellness initiatives
Company HQ
Financial District, San Francisco, CA
Leadership
Renaud Laplanche
(Co-Founder & CEO)After an MBA at London Business School, Renaud spent 5 years as an Associate at Clearly Gottlieb Steen & Hamilton and co-founded MatchPoint. They then left Oracle after a year to co-found Lending Club in 2006 and co-founded Upgrade in August 2016.
Adelina Grozdanova
(Co-Founder & Head of Investor Group)Adelina started their career with 6 years at Morgan Stanley after a degree at Princeton. They left banking in 2012 to join Lending Club as VP, and after 3 years co-founded Upgrade, serving as Head of Investor Group since 2016.
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