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About the Role

The Senior Manager, AML/KYC Client Risk Management leads Central 1's AML client lifecycle program for Payments clients, overseeing client onboarding, due diligence, risk assessments, ongoing monitoring, and governance activities. This role ensures compliance with regulatory requirements while identifying and mitigating financial crime, sanctions, and reputational risks, shaping AML/KYC practices and strengthening risk management.

Responsibilities

Lead the onboarding due diligence process for new Central 1 clients, including enhanced due diligence risk assessments for high-risk clients, high-risk industries, payment service providers (PSP’s), money services businesses (MSBs), and other elevated-risk relationships.
Oversee the completion of client KYC assessments to ensure regulatory requirements and risk appetite standards are met.
Review and challenge customer risk classifications, ownership structures, business activities, source of funds, anticipated activity, and other AML risk factors.
Develop and maintain risk assessment methodologies supporting client onboarding and customer acceptance decisions.
Provide recommendations regarding customer acceptance, enhanced due diligence requirements, and onboarding readiness.
Establish and oversee early life monitoring programs for newly onboarded clients.
Monitor transactional activity during the post-onboarding period to validate expected behaviour and identify emerging risks.
Review monitoring outcomes and recommend risk mitigation strategies where onboarding assumptions or expected customer activity materially differ from observed behaviour.
Oversee ongoing client monitoring programs designed to identify changes in risk profiles and business activities.
Ensure periodic refreshes of KYC information are completed based on regulatory and risk-based requirements.
Assess changes in ownership, control, products, services, transaction activity, and geographic exposure that may impact risk ratings.
Provide CAMLO advice and support for Central 1 external credit union clients, including oversight and guidance on anti-money laundering (AML) and anti-terrorist financing (ATF) compliance requirements; support for transaction monitoring, investigations, and suspicious transaction reporting; provision of regulatory and risk management expertise; and ongoing consultation to assist Central 1 external credit union clients in maintaining effective AML compliance programs and meeting regulatory expectations.
Provide ongoing support to Central 1 Payment clients by participating in client meetings, responding to inquiries, delivering subject matter expertise, and collaborating with stakeholders to support the effective implementation and operation of AML compliance and transaction monitoring programs for Central 1 Payment clients.
Lead the governance and oversight of RFI processes across Payment clients.
Ensure information requests support investigative requirements and regulatory obligations.
Monitor aging, response quality, and completion rates of RFIs.
Escalate unresolved or overdue requests and recommend appropriate risk mitigation actions.
Develop reporting and metrics to assess the effectiveness of RFI programs.
Oversee the monthly AML risk reports received from Central 1 Payment clients.
Provide meaningful analysis and recommendations regarding client risk exposures and operational effectiveness.
Present findings and recommendations to management, and governance committees.
Ensure reporting accurately reflects client risk trends, control effectiveness, significant investigations, and regulatory concerns.
Lead the assessment and management of customer relationships that exceed Central 1 risk appetite.
Develop evidence-based recommendations supporting customer retention, remediation, restriction, or de-risking decisions.
Coordinate customer exit strategies and monitoring activities in collaboration with clients and stakeholders.
Ensure de-risking decisions are appropriately documented, supported, and governed.
Lead AML governance forum related to customer de-risking activities. Develop agendas, meeting materials, recommendations, and meeting minutes.
Promote a culture of compliance, accountability, collaboration, and continuous improvement.
Drive process improvements, automation opportunities, and operational efficiencies within AML client lifecycle management activities.
Support strategic initiatives related to AML Services growth, client onboarding, risk management, and service delivery.
Participate in regulatory examinations, audits, independent reviews, and remediation initiatives.

Requirements

Minimum 10 years of AML/ATF compliance experience within financial services, payments, credit unions, banking, or related industries.
Extensive experience in Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), KYC lifecycle management, and ongoing monitoring programs, including the identification, assessment, and management of AML/ATF risks associated with higher-risk customer segments such as Money Services Businesses (MSBs), Payment Service Providers (PSPs), gaming and gambling operators, fintechs, and other emerging financial service providers
Strong understanding of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), FINTRAC guidance, and AML industry best practices
High degree of judgment, leadership, and discretion in managing sensitive and confidential information.
Demonstrated experience conducting or overseeing onboarding risk assessments, customer risk reviews, and ongoing monitoring programs.
Experience managing customer de-risking decisions and governance processes.
Proven ability to prepare and present risk assessments, committee materials, and executive-level reporting.
Strong analytical, investigative, and risk assessment skills.
Excellent stakeholder management, communication, and relationship-building capabilities.

Skills

AML/KYC Client Risk Management
AML/ATF subject matter expert
Financial crime mitigation
Sanctions risk mitigation
Reputational risk mitigation
Risk management
Customer Due Diligence (CDD)
Enhanced Due Diligence (EDD)
KYC lifecycle management
Ongoing monitoring programs
Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)
FINTRAC guidance
AML industry best practices
Stakeholder management
Communication
Relationship-building
Analytical skills
Investigative skills
Risk assessment skills

Location

Hybrid work environment

Work Type

Hybrid

Experience Level

Senior Manager
Minimum 10 years of AML/ATF compliance experience

Education Level

University degree in business, law, criminology, risk management, or a related field preferred or equivalent experience.
CAMS, CFCS, or equivalent AML designation preferred.

Salary/Compensations

$115,000-$130,000 plus variable incentive 14%-21%

Benefits

Work-life flexibility
Variable annual incentive plan
Generous annual vacation allotment
Top-notch flexible benefits plan including family building and gender affirmation
Retirement Plan, matched contributions at 6%
Access to a learning platform and educational assistance support
Access to a virtual wellness platform
Career development opportunities
Wellness Flex Fund to support personal interest and activities
Day off to volunteer in your community and other paid time off options
Corporate discounts

About the Company

Central 1 cooperatively empowers credit unions and other financial institutions to deliver banking choice to Canadians.
Central 1 provides critical services at scale to enable a thriving credit union system.
We do this by collaborating with our clients, developing strategies, products and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada.
For more information, visit www.central1.com.

Equal Opportunity

Central 1 is an equal opportunity employer and committed to building an inclusive workforce by creating an environment where everyone feels like they belong and has the opportunity to be successful.
We welcome all applicants to join our diverse workforce and we will provide an accessible candidate experience including, but not limited to accommodations to interview sites and alternate formats upon request to our Recruitment team.