Transaction Monitoring Officer

Idfc First Bank Limited; Navi Mumbai; On-site; INR 600,000 - 900,000; Full time

Job summary

Idfc First Bank Limited is seeking a Transaction Monitoring Officer to monitor and review alerts in Fraud Risk Monitoring systems for Card, Internet & Mobile Banking, and UPI transactions. Daily MIS preparation and fraud case escalation are key duties.

Role requires strong analytical and communication skills, with 2+ years in transaction monitoring or AML. Graduate with MBA preferred, familiarity with risk management tools is a plus.

Qualifications

• Graduate or MBA with a focus on analytics or finance.
• Minimum of 2 years in transaction monitoring or AML roles.
• Experience with fraud risk monitoring systems and reports.
• Ability to aggregate data from multiple sources and present findings.

Responsibilities

• Monitor alerts across cards, online, mobile, and UPI channels.
• Review cases timely to minimize customer impact and bank losses.
• Prepare and publish a daily MIS of monitoring alerts.
• Raise disputed alerts with relevant stakeholders and close cases in the system.
• Coordinate with BOC, branches and operations for next steps.

Skills

Analytical thinking

Investigative skills

Data interpretation

Communication skills

Presentation skills

Education

Graduate

MBA

Tools

VRM

FRM

RSA

ADM

FALCON

Job description

Job Requirements

About the Role

The Transaction Monitoring Officer is responsible for monitoring and reviewing alerts in Fraud Risk Monitoring system. It also entails making daily MIS, raising SR for frauds, and eventually closing the cases in system as per the defined process for Individual channel.

Primary Responsibilities

• Monitoring alerts of Cards, Internet & Mobile Banking, UPI transactions through various Fraud Monitoring systems e.g. Visa Risk Manager (VRM), Fraud Risk Monitoring & Management System (FRM), RSA, Active Device Monitoring (ADM) etc. FALCON (New Monitoring Tool).
• Adhering to the Transaction Monitoring SOP and comply with the guidelines.
• Timely & Efficient review of alerts during the monitoring process so as the customer and bank losses are minimized.
• Prepare and maintain a daily MIS of alerts from monitoring systems and publish it daily for tracking and status perspective.
• Review alerts & card blocks related pendency on a timely basis so as there is no escalation or customer inconvenience especially where the card is blocked by monitoring team. Logically close all pending alerts after detailed review.
• Raise the disputed alerts/case with stakeholders such as BOC, Branch, Operations team etc.
• Liaison with relevant internal stakeholders for next steps of monitoring.
• Update Supervisors and stakeholders immediately (without delay) on system downtime, IT issues faced during monitoring, cases of probable escalation etc. and keep relevant stakeholders informed for taking the issues to logical closure.
• Be punctual and work on improvement areas thereby improving abilities and skillsets required for performing the job. Ensure required integrity and display of work ethics at all times.
• Experience in Credit Cards / Retail Asset Operational processes would be an advantage.

Secondary Responsibilities

• Ensure adherence to the guidelines set by the bank.
• Support the development of risk strategies and processes that align with the bank’s customer-first approach and strategic objectives.

What We Are Looking For

Education

• Graduate – Any discipline
• Postgraduate – MBA.

Experience

• Minimum of 2 year of relevant experience in transaction monitoring or AML-related roles.

Skills and Attributes

• Strong analytical and investigative skills.
• Ability to aggregate and interpret data from multiple sources.
• Excellent communication and presentation skills.
• Understanding of fraud risk management and trends.
• Proficiency in preparing reports and summaries for senior management.