Anti-Money Laundering Specialist Job at First West Credit Union
We are currently seeking an Anti-Money Laundering Specialist to join our team.
The Anti-Money Laundering Specialist is responsible for supporting the creation, implementing, and providing ongoing maintenance within our AML Operations responsibilities (including but not limited to assisting with the development and maintenance of a quality assurance program). This role will provide support, advice, and expert guidance to ensure the team is appropriately detecting, analyzing, investigating and preventing potential money laundering/terrorist financing threats. Additionally, this role will participate in initiatives to identify and analyze risks and make appropriate recommendations to prevent/mitigate future risk and/or improve efficiency in relation to AML/TF Operations.
We are open to filling this as a remote role, however our preference is to find talent based in BC or Toronto.
Here’s what would be included as a part of your typical day
- Compliance/Operations: Proactively identify AML risks and potential gaps in regulatory requirements and provides direction and support regarding internal procedures and processes. Leads initiatives for managing AML systems for First West to ensure accuracy and effectiveness to assess AML/TF risks. Assist with monitoring and maintenance of the AML Operations strategies to address evolving trends.
- Reporting: Ensure reporting requirements are completed within the regulatory guidelines with regard to suspicious transactions, large cash transactions, wire transfers, terrorism reporting and economic sanctions compliance.
- Audit & Quality Assurance: Assists with the development and maintenance of a risk-based quality assurance program. Through quality assurance reviews, identify strengths, weaknesses, opportunities, and threats in relations to AML/TF risk. Assists with Leading action items/responses from field work or audits completed internally and/or externally (effectiveness reviews (internal audits) and regulatory examinations (FINTRAC).
- Procedures: Develops and implements internal procedures based on expertise, knowledge and industry and ensure alignment with the AML/ATF Policy. Responsible for recommending policies/procedures that minimize risk and/or improve efficiency in relation to ML/TF to the Manager, AML Operations.
- Analytics: Perform analytics and reporting to generate accurate and insightful perspective and rule effectiveness, detection rates, false positive rates and volumes. Support the ongoing and periodic evolution of AML tools and solutions to address changing business needs and emerging trends.
- Stakeholder Relations : Liaise with respective key business areas to build knowledge and expertise within the business. Provide AML/TF subject matter expertise and guidance at the enterprise, regulatory and industry level and act as a specialized resource for all business areas. Communicate new AML/TF risks and emerging trends to various levels including senior management and external partners.
- Training: Assist in the identification, development and delivery of ad hoc training and education appropriate based on findings, trends and emerging risks.
Required Skills, Experience & Qualifications
- Bachelor’s degree in Criminal Justice, Business or a related discipline required
- Designations such as the CAMS, CFCS, CFI or progress towards them, are nice to have.
- 4 years’ experience in the financial industry with 2 years’ experience in AML/TF Compliance and/or Operations required
- A solid understanding of current AML/TF legislation and regulations preferred
- Strong understanding of AML risks, detection, and mitigation strategies, gained through a combination of experience, self-directed research to keep up with industry trends, and ongoing formal professional development preferred
- Demonstrates strong understanding of AML risks, detection and mitigation strategies, and self-directed research to keep up with industry trends.
- Proven analytical and problem-solving skills. Proven ability to plan, organize and prioritize multiple simultaneous assignments and competing priorities within time constraints.
- Ability to see the big picture and foresee future requirements and risks. Ability to identify impacts that decisions, requirements, and strategies on current initiatives will have on existing operational needs, and future projects and initiatives.
- A strong team player who can lead initiatives and programs and the drive to develop solid working relationships across various lines of business and channel owners.
- Experience with AML software e.g. Verafin/Navaera
- Proficient with computer software programs, i.e. MS Office
- Advanced with Excel-Power Pivots, Dashboards, Data Visualizations
- Advanced working knowledge of Power BI/Tableau
- Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.
Why work for us?
We offer a total rewards package that recognizes the meaningful work you do to support our members and our communities, which includes:
- A competitive base salary plus performance-based incentive compensation
- Annual merit pay increases
- Flexible benefits as well as support for retirement benefits
- Vacation time, a flexible “Day4U” and the option to purchase up to five additional vacation days
- Other financial perks such as our Employee Banking Advantages which includes waived or reduced financial service fees, reduced rates on personal loans, mortgages and no-interest loans on lifestyle-related items that promote health, wellness, learning and business aptitude
In addition, you can enjoy socially conscious perks, like three paid days off every year, to volunteer for causes you care about.
What’s your place in the First West story? Apply now and let’s find out together!
First West regrets that only candidates selected for an interview will be contacted.
Diversity & Inclusion:
First West Credit Union is committed to diversity and inclusion. Our goal is to create an inclusive, accessible environment for our candidates and employees that reflects the communities in which operate. If you require an accommodation for the recruitment or interview process (including alternate formats of materials, accessible meeting rooms or other types of accommodation), please let us know and we will work with you to meet your needs.
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