Aon Benefits Operations Administrator Interview Questions and Answers

Transaction monitoring is the process of reviewing and analyzing transactions to detect suspicious activity or compliance violations.

• Monitoring financial transactions for signs of money laundering or fraud

• Identifying unusual patterns or behaviors in transactions

• Ensuring compliance with regulations and policies

• Using software tools to automate the monitoring process

• Taking action on flagged transactions, such as investiga

SAR stands for Suspicious Activity Report. Outgoing wires refer to electronic transfers of funds from one account to another.

• SAR is a report filed by financial institutions to report suspicious activities that may indicate money laundering or other illegal activities.

• Outgoing wires are electronic transfers of funds initiated by a customer to send money to another account.

• Financial institutions monitor outgoing wires to...read more

Loan lifecycle involves the process from application to repayment of a loan.

• Application: Borrower submits application with required documents.

• Underwriting: Lender evaluates borrower's creditworthiness and risk.

• Approval: Loan is approved or denied based on underwriting.

• Funding: Lender disburses funds to borrower.

• Repayment: Borrower makes scheduled payments until loan is fully repaid.

• Closure: Loan is marked as closed onc