Associate, Transaction Monitoring (12 Month Contract)

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.

At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

To learn more about CIBC, please visit CIBC.com

What you'll be doing

The Portfolio Risk Management (PRM) team within Global Transaction Banking (GTB) is responsible for the first line Anti-Money Laundering (AML) Program for Correspondent Banking and Corporate Banking clients and includes a Transaction Monitoring team and a Due Diligence team. Within PRM, the first-line Transaction Monitoring team is responsible for conducting ongoing reviews of transaction activities to ensure alignment with the overall client Due Diligence/Know-Your-Client portfolio, assess key trends observed, and identify and determine whether requests for information and/or unusual activity reports are required. The Transaction Monitoring group performs monthly and ad hoc assessments of activity that form part of the KYC client profile. Together with the Due Diligence team, the Transaction Monitoring team partners closely with internal stakeholders including GTB Relationship Managers, Global Money Operations, Payment Teams, and Enterprise Anti-Money Laundering (EAML) to ensure best AML practices are followed.

As a member of the GTB Portfolio Risk Management team, you will have the opportunity to contribute to the successful execution of CIBC’s Enterprise AML framework as it relates to GTB’s correspondent banking clients.

At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview .

How You'll Succeed

• Collaboration. Make high-quality risk-based recommendations to support client relationships that stand up to scrutiny by business personnel, compliance, internal/external audit and regulators. Prepare written reports with recommendations to assist in effectively responding to higher risk activity and/or trends identified
• Investigation. Investigate AML-risk-related concerns and assess areas of due diligence as required. Maintain and document records in accordance with regulatory requirements (OSFI/FINTRAC) and CIBC Enterprise standards
• Coordination & Review. Assist ongoing review and assessment of transaction activity related to Correspondent Banking clients. Investigate any potential risk-related concerns through analysis, research, and issuance of Requests for Information (RFIs) or Unusual Transaction Reports (UTRs) as appropriate. Assess and validate transaction activity with the objective of highlighting higher risk trends, benchmarking activity against KYC data points and documenting any changes in overall transaction activity
• Reporting & Due Diligence. Maintain and document transaction monitoring records. Ensure transaction monitoring records are of high quality, with detailed findings that clearly communicate results of trends (high risk trends, benchmarking etc) and observations. Ensure assessments and reports are complete, accurate, and completed according to SLAs. Initiate RFIs where appropriate, ensuring timely response, adjudication and reporting of activity identified

Who You Are

• You are a certified professional. ACAMS/other AML-related credentials (ACFCS, etc.) considered an asset
• Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability
• You are experienced in KYC/AML. Minimum 1 – 3 years KYC/AML experience including understanding of AML technical terms and concepts and are well-versed with FATF guidance
• You are passionate about research, analysis and organization. Ability to gather, analyze, organize, document and present large volumes of information in a succinct and organized manner. Solid organizational, planning, and time management skills with ability to multi task, gather, organize and interpret data and formulate preliminary conclusions. Strong critical thinking; ability to demonstrate a good understanding and judgement of risk, particularly compliance/AML risk. Prior experience in research capacity is p
• You have sophisticated communication skills. Excellent written and verbal communication skills to properly communicate recommendations. Excellent interpersonal and teamwork skills and ability to collaborate with internal stakeholders effectively
• You have an undergraduate degree. Undergraduate degree in relevant business disciplines along with advanced MS Office skills and experienced with SWIFT payments

What CIBC Offers

At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.

• We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development
• Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
• We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a health benefits program, defined benefit pension plan, an employee share purchase plan and MomentMakers, our social, points-based recognition program.

What You Need To Know

• CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact [email protected]
• You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.

Job Location

Toronto-161 Bay St., 8th

Employment Type

Temporary (Fixed Term)

Weekly Hours

37.5

Skills

Business, Business Banking