Director, Suspicious Transaction Reporting Strategy

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At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Director, Suspicious Transaction Reporting Strategy

What is the opportunity?

The Director, Suspicious Transaction Reporting will develop and oversee RBC’s strategy to anticipate and exceed expectations for STR reporting. As part of Financial Crime’s Risk Strategy Group, you will work with senior leadership, investigations, analytics, and technology partners to protect RBC’s communities from financial crime.

You will develop analytic products, enrichments, and oversight to demonstrate compliance and develop innovative solutions to ensure STR reporting is complete, of high quality, and on time.

You will provide key insights and strategies to focus investment on high probative value STRs while identifying solutions to streamline or eliminate low/no value reporting.

What will you do?

• Ensure on-going alignment with stakeholder needs and regulatory expectations, including retro-active analysis to evaluate control effectiveness.
• Work with industry partners to innovate and advocate for measurable and sustainable AML reporting regime.
• Leverage technology and machine learning capabilities to drive STR efficiency and effectiveness.
• Act as a product owner for investigative
• Identify candidates and oversee the development of capabilities to enable straight through processing and expedited filings.
• Perform analytics to identify trends, risks, and opportunities to continuously improve RBC’s financial crimes program
• In coordination with the stakeholders, establish and monitor RBC’s risk appetite including positions on potential predicate offences and ongoing activity.
• Provide insight and oversight of STR Reporting to senior leadership and other stakeholder including the development of dashboards and industry benchmarking.

What do you need to succeed?

Must Have

• Familiarity with AML legislation and regulations, particularly the STR and SAR regimes in Canada and United States.
• Experience with collaborative strategy development & communication with regulators, auditors, and senior management
• Experience conducting or directing analytic insights to identify opportunities and drive business value.
• Ability to identify and articulate risk-based decisions including risk tolerance, metrics, trends, deficiencies, and opportunities.
• 5+ Years of experience in financial crimes risk or a related industry

Nice to Have

• Financial crimes investigative and reporting experience.
• Familiarity with industry trends in regulatory risk, financial crimes, analytics and technology, information sharing and privacy.
• Awareness of existing and emerging ML capabilities and ability to draw connection to business opportunities.
• Ability to drive impact and influence through collaborative, non-authoritative, partnerships.

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• Leaders who support your development through coaching and managing opportunities
• A world-class training program in financial services
• Access to a variety of job opportunities across business and geographies
• Work in a dynamic, collaborative, progressive, and high-performing team
• The successful candidate will need to establish and maintain productive working relationships with Advisors and individuals at all levels, both internally and externally.
• Opportunities to building close relationships with clients
• Opportunities to take on progressively greater accountabilities
• Ability to make a difference and lasting impact
• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Flexible work/life balance options
• Opportunities to do challenging work

Job Summary

Develop and oversee RBC’s strategy to anticipate and exceed expectations for suspicious transaction and activity reporting. The incumbent will demonstrate compliance by developing innovative strategies to ensure STR reporting is complete, of high quality, and on time. This position will play a key role in optimizing RBC’s AML Program through strategies to focus on high probative value STRs while identifying solutions to streamline or eliminate low/no value reporting.

The director, STR Strategy will leverage their financial crime experience, analytics expertise and excellent communication skills to provide key insights to stakeholders across the AML program.

The incumbent will also actively pursue opportunities for technology enhancements to support their vision in a robust and sustainable manner.

Address:

TORONTO, Ontario, Canada

City:

CAN-ON-OTTAWA, CAN-ON-TORONTO

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

Group Risk Management

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-07-24

Application Deadline:

2023-08-08

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.