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AML Analyst
Toronto, OntarioOverview
The AML Analyst will play a key role in supporting a Financial Services Client in the management and oversight of Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) activities. This role is essential to ensuring compliance with Canadian AML/ATF regulations, particularly with respect to OSFI (Office of the Superintendent of Financial Institutions) and FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) guidelines.
The ideal candidate will bring a background in AML/ATF compliance, with experience working within Canadian financial institutions, particularly in the insurance, wealth management, or banking sectors.
Key Responsibilities
The AML Analyst will play a key role in supporting a Financial Services Client in the management and oversight of Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) activities. This role is essential to ensuring compliance with Canadian AML/ATF regulations, particularly with respect to OSFI (Office of the Superintendent of Financial Institutions) and FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) guidelines.
The ideal candidate will bring a background in AML/ATF compliance, with experience working within Canadian financial institutions, particularly in the insurance, wealth management, or banking sectors.
Key Responsibilities
- AML/ATF Investigations: Conduct in-depth investigations into unusual transactions, assessing client activities to identify potential risks, and determine the need for regulatory filings.
- Transaction Monitoring and Reporting: Apply detailed analysis to daily transaction monitoring activities, reviewing alerts, conducting client risk assessments, and ensuring compliance with AML/ATF regulations. Support the preparation and submission of suspicious transaction reports (STRs) and other regulatory filings to FINTRAC, ensuring accuracy and timeliness.
- AML Systems: Utilize and manage AML systems effectively to monitor transactions, detect suspicious activities, and ensure regulatory compliance. Experience with AML transaction reporting systems is highly preferred.
- Regulatory Reporting: Support AML transaction reporting requirements, ensuring all necessary filings with Canadian regulators, including FINTRAC, are completed accurately and on time.
- Policy and Procedure Maintenance: As required, assist with the ongoing development and refinement of the client’s AML policies and procedures, ensuring they are aligned with current regulations and industry best practices.
- Compliance Projects: The candidate may be required to support ongoing compliance projects and assist with various AML and ATF-related initiatives, contributing to the overall effectiveness of the AML compliance program.
- Regulatory Awareness: Coordinate with other members of the AML and ATF team to support the maintenance of up-to-date knowledge of Canadian AML and ATF laws and regulations, including OSFI and FINTRAC guidelines and requirements.
- Minimum of 3-5 years of experience in AML/ATF compliance within Canadian financial institutions, preferably within the insurance, wealth management, or banking sectors.
- Proven experience in supporting AML transaction reporting requirements and working with AML systems.
- CAMS (Certified Anti-Money Laundering Specialist) certification is preferred.
- In-depth understanding of Canadian AML/ATF regulations, including OSFI and FINTRAC guidelines.
- Strong analytical skills with a high degree of accuracy and attention to detail.
- Excellent verbal and written communication skills, with the ability to articulate findings and recommendations clearly.
- Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and strong research skills using web-based tools.
- Ability to prioritize tasks based on risk and regulatory requirements.