EnKash - Manager/Senior Manager - Risk

A Transaction Risk Manager is a professional responsible for identifying, assessing, and managing risks associated with financial transactions within an organization. This role is crucial in ensuring that financial transactions are conducted securely, efficiently, and in compliance with regulatory requirements. Here's a profile of a typical Transaction Risk Manager:

Job Responsibilities:

1. Risk Assessment:

- Evaluate the risks associated with various financial transactions, including payment processing, investment activities, and other monetary exchanges.

- Conduct risk assessments on new and existing financial products and services.

2. Fraud Detection and Prevention:

- Implement and manage systems and processes to detect and prevent fraudulent transactions.

- Analyze transaction data to identify patterns indicative of potential fraud.

- Develop and implement strategies to minimize the impact of fraudulent activities.

3. Compliance:

- Stay abreast of financial regulations and compliance requirements.

- Ensure that financial transactions adhere to relevant regulatory standards.

- Collaborate with legal and compliance teams to address regulatory issues.

4. Transaction Monitoring:

- Monitor real-time transactions to identify irregularities or suspicious activities.

- Utilize monitoring tools and technologies to track transactional behavior.

- Establish thresholds and triggers for automated alerts on unusual transactions.

5. Data Analysis:

- Utilize data analytics tools to analyze transactional data and trends.

- Generate reports and insights to communicate risk assessments to relevant stakeholders.

- Collaborate with data scientists to refine risk models and algorithms.

6. Policy Development:

- Develop and implement transaction risk management policies and procedures.

- Update policies in response to changing market conditions and regulatory requirements.

- Educate internal teams on adherence to transaction risk management protocols.

7. Relationship Management:

- Work closely with financial institutions, payment processors, and other external partners.

- Collaborate with internal teams, including finance, compliance, and IT, to address transaction-related issues.

8. Incident Response:

- Develop and implement incident response plans for potential transaction-related issues.

- Coordinate with relevant stakeholders in the event of a financial transaction incident.

- Conduct post-incident analysis to improve future response strategies.

Skills and Qualifications:

9. Analytical Skills:

- Strong analytical abilities to interpret and analyze complex transactional data.

- Proficiency in data analysis tools and statistical methods.

10. Communication Skills:

- Effective communication skills to convey risk assessments and insights to various stakeholders.

- Collaborative communication for working with internal and external partners.

Technical Knowledge:

- Understanding of financial systems, payment processing, and transactional technologies.

- Familiarity with fraud detection tools, encryption, and security measures.

11. Compliance Knowledge:

- In-depth knowledge of financial regulations and compliance standards.

- Ability to interpret and apply regulatory requirements to transactional activities.

12. Problem-Solving:

- Proactive problem-solving skills to identify and address transaction-related risks.

- Ability to develop innovative solutions to enhance transaction security.

13. Adaptability:

- Stay updated on the latest developments in transaction technologies and fraud tactics.

- Adaptability to changing regulatory landscapes and market conditions.

Education: A bachelor's degree in finance, risk management, business, or a related field is often required. Advanced degrees or certifications in risk management or finance are beneficial.