We are currently seeking a Team Lead, AML Monitoring & Testing to join our team.
The Team Lead, AML Monitoring & Reporting is responsible for the development, implementation and maintenance of the AML/ATF operations regime for First West and is the subject matter expert for AML/TF regulations and standards. This position leads a team responsible for monitoring and reporting activities, collaborating with regulatory compliance and business units, and ensuring the effectiveness of AML operations.
Here’s what would be included as a part of your typical day
Compliance: Acts as the first point of contact for AML/TF compliance related inquires and requests. Proactively identifies risks, actual and potential gaps in regulatory requirements and provides direction and support regarding internal policies and procedures or other AML risk. Conducts research to make recommendations on moderately complex decisions falling within AML/TF policies and escalates as needed. Leads initiatives for managing Verafin software for First West to ensure compliance to effectively assess AML/TF risk. Ensures accuracy and effectiveness of AML systems and drives periodic enhancements as needed.
Leadership: Provides leadership to the AML Monitoring and Reporting team: including training, coaching, employee engagement, and performance management; oversees workloads, prioritizes and allocates work within the team. Supports a culture of compliance and process improvement by maintaining performance and service level standards. Identifies unacceptable AML/ATF risk and proactively manages/escalates these situations.
Policies and Procedures: Develops and implements internal procedures and forms based on research, knowledge, expertise and alignment with the AML/ATF Policy. Assists the AML operations manager in developing individual processes to control gaps to minimize AML risk in all areas of business, including reviewing documents, legislative interpretation, and procedure support.
Reporting: Ensures reporting requirements are completed within the regulatory guidelines for large cash transaction reporting, Electronic Funds transfers reporting, terrorism reporting and economic sanctions compliance.
Audit: Co-ordinates and manages the requirements, field work and action item responses for AML effectiveness reviews (internal audits) and regulatory examinations (FINTRAC). Assists with the Quality Assurance/Quality Control/self-assessments and System Tests for the AML operations function.
Stakeholder Relations: Provides subject matter expertise regarding AML/TF risks, suspicious activity and regulatory requirements to support to all levels of staff and management within the organization’s compliance regime to minimize risk. Develops relationships and liaises with internal lines of business and external connections to build knowledge and expertise. Provides advice and support to key stakeholders in the development of department business plans and priorities as it pertains to AML/ATF.
Analytics: Provides analytics and reporting to generate accurate and insightful perspective and rule effectiveness, detection rates, false positive rates and volume. Supports the ongoing and periodic evolution of existing and new AML operation tools and solutions to address changing business needs and emerging trends. Reports and logs all defects and non-conformances in a timely and accurate manner. Performs other analytical, data gathering, statistics related activities.
Required Skills, Experience & Qualifications
Bachelor’s degree in a related discipline required; ACAMS/ICA/CIA certification required
5 years’ experience in the financial industry; including 3 years’ experience in money laundering compliance and leadership role required
Working knowledge with PCMLTFA and FINTRAC Regulations
Comprehensive understanding of related laws and statutes
Experience with developing and implementing procedures and conducting investigations
Demonstrated effective communication skills with the ability to communicate both verbally and in writing with a wide variety of people.
Proven analytical and problem-solving skills
Effective interpersonal skills and a demonstrated ability to develop and maintain good working relationships with internal and external stakeholders and regulatory bodies
Ability to effectively manage large volumes of work, including a number of simultaneous projects, in a fast-paced work environment
Experience with AML software e.g. Verafin/Navaera
Proficient with computer software programs, i.e. MS Office
Advance Excel-Power Pivots, Dashboards, Data Visualizations
Basic Power BI
Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.
