High Risk Approval Specialist at Wise

Tallinn, Harju County, Estonia

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Financial ServicesIndustries

Requirements

Experience in enhanced due diligence
Strong organisational and communication skills
Excitement and desire to learn and grow with the team
High understanding of AML/CFT Regulations and their impact on the business, Wise products, and services
Deep understanding of different business models, customer types, country risks, and regulatory requirements across multiple geographies

Responsibilities

Review and assess high risk customer reports to provide analysis and approval as per set policies and procedures
Review customer transaction history and provide insights into customer behaviour patterns that may indicate risks
Conduct periodic reviews and analyse changes in customers' history and account usage
Exercise discretion in setting priorities, identifying customer records that require further review, and taking action to obtain and follow-up on requested information/documentation
Ensure that information and documentation provided by customers meet Wise's risk appetite for onboarding and maintaining High Risk customers
Conduct in-depth analysis using provided documentation or external sources (e.g., websites, company registries) to ensure only customers within risk appetite are onboarded
Perform searches utilising Internet sources and/or third-party vendors to obtain information on prospects and new/existing customers
Communicate with other internal teams when required to handle escalated or complicated cases
Provide guidance and responses to daily inquiries from peers, front-line, and management regarding high risk approval matters and case analysis
Maintain high understanding of AML/CFT Regulations and how these impact the business, as well as Wise products and services
Draft SAR narratives to report activity deemed unusual when warranted
Take part in and lead projects related to SMA Team processes and guidelines; assist in identifying improvement opportunities and contribute to policy updates, training materials, and standard operating procedures
Draft reports to internal and external stakeholders, periodically and when requested
Support Wise in internal and external audits and regulatory process-related query reviews
Mentor and support Senior Management Approval Analysts by providing training and coaching to enhance team capabilities
Communicate effectively with customers via relevant channels (e.g., phone, email, chat)
Perform tasks and responsibilities within expected key performance indicators set by the leadership team

Skills

Key technologies and capabilities for this role

Enhanced Due DiligenceKYCAMLCustomer Behaviour AnalysisTransaction ReviewRegulatory ComplianceRisk AssessmentHigh Risk Approvals

Questions & Answers

Common questions about this position

Is this role remote or on-site?

The position is on-site.

What are the main responsibilities of the High Risk Approval Specialist?

Responsibilities include reviewing and assessing high risk customer reports, analyzing transaction history and behavior patterns, conducting enhanced due diligence, ensuring KYC records are up to date, and approving onboarding for high risk customers according to regulatory standards.

What skills and experience are required for this position?

The role requires experience in enhanced due diligence, strong organizational and communication skills, excitement to learn and grow, high understanding of AML/CFT regulations, and ability to conduct in-depth analysis using documentation or external sources.

What is the company culture like at Wise?

Wise emphasizes a mission-driven culture focused on money without borders, transparency, protecting customers, and building a new network for the world's money with min fees, max ease, and full speed.

What makes a strong candidate for this High Risk Approval Specialist role?

A strong candidate has experience in enhanced due diligence, strong organizational and communication skills, a desire to learn and grow with a new team, and deep knowledge of AML/CFT regulations to handle high-risk customer assessments effectively.

Wise

Facilitates low-cost international money transfers

About Wise

Wise focuses on international money transfers, providing a low-cost alternative to traditional banks. It uses a peer-to-peer system to match transfers between users in different countries, which helps reduce fees and offers better exchange rates. Customers pay a small, transparent fee for each transaction, and Wise also offers a multi-currency account for managing funds in various currencies. The company aims to maintain high performance and reliability while ensuring transparency and trust with its users.

London, United KingdomHeadquarters

2011Year Founded

$385.5MTotal Funding

IPOCompany Stage

Fintech, Financial ServicesIndustries

5,001-10,000Employees

Benefits

PTO & annual leave

Work from home flexibility

Parental leave

Medical insurance plans

Health & wellbeing discounts

Pension & retirement plans

Social events

Relocation support

Risks

Increased competition from banks integrating Swift services could challenge Wise's market share.

Regulatory scrutiny following Stenn's collapse may increase pressure on Wise.

Bitcoin's low transaction fees could attract customers away from Wise's services.

Differentiation

Wise offers a peer-to-peer system for low-cost international money transfers.

The company provides a multi-currency account for ex-pats, freelancers, and travelers.

Wise's transparent fee structure attracts customers seeking cost-effective money transfer solutions.

Upsides

Partnership with Morgan Stanley enhances Wise's cross-border settlement capabilities.

Expansion into India's remittance market presents significant growth opportunities for Wise.

API integrations offer additional revenue streams and market penetration for Wise.

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