Senior Aml Officer Jobs

Division: Risk Management and Compliance

Reporting to: Senior Manager, Anti-Money Laundering and Fraud

Career Level: Staff

Pay Type: Salaried

Job Overview

The Senior AML Officer is accountable for the day-to-day activities that ensure compliance with all applicable Anti-Money Laundering (AML) legislation and supports the mitigation of risk for FirstOntario Credit Union.

Role

• Conduct the initial review of Unusual Transaction reports submitted by the branches, investigate as required and create a case in Verafin to escalate, report to the Senior Manager for review and submission to Deputy CAMLO.
• Support Outsourced AML partner with requests and follow up with branches for additional information as required.
• Responsible for monthly QA testing of Large Wire reports to ensure all have been reported in the required time lines and report to Senior Manager any anomalies within established timeline.
• Be willing to work flexible hours when requested.
• Oversee the daily reporting to FINTRAC of Large Cash Transactions which may involve investigating and gathering requests for additional information to ensure reporting is complete and accurate. Also responsible for rectifying any issues within the reports prior to submission within the required timeframe.
• Incorporate fact-based research elements in all that you do.
• Support the Senior Manager with annual CIF review processes.
• Responsible for monthly quality assurance (QA) testing of Large Cash Transaction reports to ensure all have been reported within the required timelines and report any anomalies to the Senior Manager within the established time period.
• Actively support the Senior Manager with high risk reviews by gathering additional information or performing follow-up investigation of activities.
• Support and mentor other team members. • FATCA / CRS - Complete defined reviews of member files for relevant tax information against a predefined checklist. Work with IT resources to ensure the criteria for reporting and pulling of relevant indicia is working as expected. Check for correctness, including validation of member and completeness of documents received against existing records. Report preparations and forwarding to the appropriate parties for submissions. Review procedures to increase efficiencies while continuing to effectively capture all accounts for required reporting. Develop, maintain and provide enterprise-wide training.
• Monitor and escalate when required other reporting used to identify and mitigate AML risk.
• Act as liaison to the business to support any new reporting required from banking system provider and integrate any new operational changes, including products or services, which would affect department procedures.
• Work AML Alerts as assigned to you by the Outsourced AML Partner.
• Review incoming and outgoing wire requests that require a secondary review for approval.
• Complete and submit STRs as required through FINTRAC F2R system
• Be the second set of eyes on the daily Large Wire Transaction reports and obtain any missing information requested by the Outsourced AML partner to ensure wires are submitted within the required timeframe.
• Support Risk team with projects and tasks as assigned.
• Provide ongoing support to the Senior Manager to ensure AML Technology solution enhancements are maintained and kept current with provider’s releases.

Required Skills

• The ability to deal with complex and confidential issues efficiently.
• Have a minimum three (3) years’ experience in regulatory compliance, interpreting legislation and understanding the application of it to business practices and procedures.
• Knowledgeable of changes in AML / FATCA / CRS laws and regulations while actively apply leading industry practices within a financial institution.
• Hold a post-secondary degree in business or related field.
• The ability to be detail-oriented and organized.
• Ensure the accuracy of record keeping and reporting to mitigate risk
• Have knowledge of the ITA (Income Tax Act).
• Must be proficient in MS Office.
• Possess ACAMS designation or equivalent.
• Have thorough knowledge of current AML / FATCA / CRS legislation.
• Identify unusual transaction indicators and fraud typologies that is supported by your investigative and problem solving skills.
• Familiarity with Verafin technology would be an asset.
• Be able to make sound business decisions based on minimal information.
• Utilize data analytics to write meaningful reports and confidently present findings to business partners that will enable them to make informed decisions.
• The ability to manage multiple priorities with strict deadlines.
• Knowledge and experience with Temenos banking system would be an asset.

Accommodations for persons with disabilities are available upon request during the application process.