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Systems Specialist - Fircosoft

Systems Specialist - Fircosoft

CapitexManama, Capital Governorate, Bahrain
30+ days ago
Job description

Job Purpose

To optimize, maintain, and enhance the performance of the group-wide Fircosoft Sanction Screening system for Payment Screening and Customer Screening. The role involves fine-tuning configurations to improve detection accuracy, ensuring compliance with regulatory standards, minimizing false positives, and maximizing operational efficiency.

Key accountabilities

Generic Accountabilities :

  • Conduct regular system performance evaluations to identify areas for improvement in Fircosoft's Payment Screening and Customer Screening modules.
  • Implement fine-tuning and rule adjustments to enhance screening accuracy.
  • Ensure the screening system adheres to international sanctions, regulatory requirements, and group-wide compliance policies.
  • Collaborate with group-wide compliance teams to align system functionality with regulatory updates.
  • Analyze screening results and system performance metrics to identify trends and areas for adjustment.
  • Generate reports on key performance indicators (KPIs) and system tuning activities.
  • Work closely with IT, compliance, and operational teams to ensure smooth system operations and integration with existing workflows.
  • Provide support during audits and regulatory inspections related to the sanction screening process.
  • Establish and monitor quality control mechanisms to ensure the accuracy and efficiency of sanction screening processes.
  • Conduct periodic reviews of screening workflows and recommend process improvements. Identify and mitigate risks associated with inadequate screening or system malfunctions.
  • Maintain detailed logs of system changes to ensure traceability and accountability.

Specific Accountabilities :

  • Develop and modify Fircosoft screening rules, watchlist configurations, and fuzzy logic parameters to balance compliance and efficiency for the group-wide.
  • Validate new rules and configurations in test environments before deployment.
  • Identify patterns leading to false positives and implement strategies to reduce them without compromising compliance standards.
  • Regularly monitor false positive rates and adjust thresholds accordingly.
  • Manage Fircosoft system updates, patches, and enhancements to maintain optimal functionality.
  • Ensure seamless integration with external data sources, such as regulatory watchlists and customer data systems.
  • Investigate and resolve issues related to sanction screening system performance or accuracy.
  • Provide timely resolutions for system anomalies affecting screening processes.
  • Create and maintain comprehensive documentation for system configurations, tuning activities, and best practices.
  • Train team members and stakeholders on system functionality and enhancements.
  • Identify opportunities to automate repetitive tasks within the sanction screening process to improve efficiency.
  • Configure system alerts for critical thresholds, such as rule mismatches, list updates, or system downtime.
  • Proactively monitor real-time screening performance to address issues before they impact business operations.
  • Customize rule sets for unique business requirements while maintaining global compliance standards.

    • Performance Monitoring

  • Prepare regular updates and reports for stakeholders.

    • Vendor Management

  • Liaise with third-party vendors or consultants for coordination of any system enhancement or upgrades.

    • Job Success Factors

  • Deep understanding of Fircosoft's Payment Screening and Customer Screening functionalities, including rule creation and fine-tuning for group-wide.
  • Strong knowledge of global sanction regulations, including OFAC, UN, and EU watchlists.
  • Ability to analyze screening outcomes and metrics, identify trends, and implement effective tuning strategies.
  • Proven ability to diagnose and resolve system performance issues efficiently.
  • Effective communication and teamwork skills to liaise with cross-functional teams and stakeholders.

    • Education & Experience

    Education

  • Master’s degree in computer science / technology or finance systems.
  • ACAMS certification or equivalent.
  • In-depth knowledge of the industry’s technology standards and regulations.
  • Knowledge of regulatory requirements, standards, rules and frameworks.

    • Experience

  • 8+ years of AML / CTF experience in managing AML / CTF technology systems at a top tier international bank, which includes 6+ years of experience managing technology teams.
  • Experience in advising or working in a Compliance function with a focus on delivering a robust technology program.
  • Strong interpersonal skills with the ability to communicate with impact, build healthy professional connections, influence outcomes, simplify complex topics into actionable recommendations for decision-making.
  • Ability to perform innovative thinking to solve complex problems with no established precedence while balancing risk, speed, and accuracy.
  • Managerial level experience in data analytics, risk analysis or similar statistics discipline.
  • Proven experience in rule configuration, system optimization, and compliance alignment for sanction screening solutions.
  • Experience in data analysis, reporting, and stakeholder management in a financial or regulatory compliance context.

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    Specialist • Manama, Capital Governorate, Bahrain