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About the Role

The Manager, AML/ATF Governance performs a key risk management role, supporting the CAMLO in developing and implementing a sound and effective AML/ATF/sanctions program to ensure compliance with applicable laws and regulations. This role is responsible for supporting the Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) Program framework, influencing organizational change, and driving results.

Responsibilities

Develop and lead change management for policies, standards, and procedures
Maintain the policy and procedure library, ensuring regular updates
Advise the business on implementing new or amended regulatory requirements, legislation, or guidance
Manage the development and maintenance of the AML/ATF quality control program
Develop and maintain AML QC policies, procedures, and reporting
Maintain a strong understanding of AML/ATF processes, systems, and tools
Understand the main AML/ATF platform and optimize it for efficiency and effectiveness
Source and work with vendors to support and enhance the program
Review and tune transaction monitoring rules
Develop, provide, and track training for the AML/ATF team and the first line
Oversee and track key processes for timely completion
Provide input to management and board reporting
Report pertinent information to the CAMLO regarding AML/ATF governance and quality control adequacy and issues
Review FINTRAC policy interpretations and implement changes, including staff training and procedure/system updates
Provide ongoing gap assessments and mitigation recommendations
Maintain a deep understanding of AML/ATF laws and regulations and socialize AML/ATF/sanctions risks with compliance, risk, legal, and first line
Maintain a deep understanding of AML/ATF/sanctions typologies and emerging risks, socializing findings and making recommendations
Own the review and update of the inherent risk assessment
Review AML/ATF training materials for accuracy and completeness
Complete AML/ATF/sanctions risk assessments for new business initiatives and technology developments
Lead periodic departmental meetings, providing ongoing coaching and mentoring
Act as a subject matter expert in anti-money laundering/anti-terrorist financing for the organization
Assist in the creation and implementation of new processes following regulatory changes or efficiency opportunities
Promote a teamwork environment focused on continuous improvement
Coordinate with retail operations and product teams to create additional training tools for branches
Conduct first- and second-line control testing and quality assessments of team lead quality control
Regularly review all departmental tasks and identify process improvements
Identify and present banking system enhancement options to Banking Support, outlining departmental requirements
Facilitate the preparation of periodic audits by regulators and internal audit
Represent the department on special projects and organizational initiatives to ensure AML/ATF aspects are considered and requirements are met
Complete user testing for banking system releases, ensuring accurate process function, identifying potential issues, and evaluating implementation risk
Engage with industry associations and other AML/ATF associations
Manage the day-to-day operations and activities related to the AML/ATF Quality Control program and staff
Provide leadership, direction, and motivation to quality control staff, including professional development
Ensure quality control staff carry out their assigned daily tasks

Requirements

Minimum of 5 years of experience in the retail banking industry
Minimum of 5 years of direct, recent experience in AML/ATF
Experience interpreting legislation related to AML/ATF

Skills

Specialized knowledge of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act
General knowledge of the Caisses Populaires and Credit Unions Act, Bank Act, and Privacy Act
Specialized knowledge of AML/ATF systems, processes, typologies, and risks
Strong understanding of industry trends and emerging risks
In-depth knowledge of Alterna Savings/Alterna Bank products and services
In-depth knowledge of Alterna’s banking system
Ability to assist in interpreting legislation and regulatory changes and help business partners understand and apply them
Proven ability to develop, review, and recommend overall objectives, policies, and procedures for both Alterna Bank and Alterna Savings
Knowledge of risk management practices and monitoring related controls
Proficiency in Excel and Microsoft Word
Excellent written and verbal communication skills
Superior leadership, analytical and problem-solving skills
Proven ability to evaluate alternatives and make decisions
Ability to lead change and engage staff to accept and embrace change
Demonstrates very strong tact and discretion when privy to confidential information
Strong organizational skills
Excellent attention to detail and accuracy
Demonstrated commitment to continuous learning
Excellent people skills
Ability to influence cross-functionally

Work Type

Full-Time

Experience Level

Minimum of 5 years of experience in the retail banking industry
Minimum of 5 years of direct, recent experience in AML/ATF

Education Level

Post-secondary education in a related field (business, banking, criminology, law, economics)
Successful completion of the Certified Anti-money Laundering Specialist exam (CAMS) or equivalent designation
Knowledge of, or completion of, audit-related courses/certifications is an asset
Knowledge of, or completion of, risk management-related courses/certifications is an asset

Salary/Compensations

$85,000-$105,000

About the Company

Alterna Savings and Credit Union Limited (Alterna) has delivered The Good in Banking® for over 115 years creating financial services that transform lives for the better, all while giving back to our community.
Alterna is made up of Alterna Savings and Credit Union Limited and its wholly owned subsidiary, Alterna Bank.
Alterna is the first full-service, member-owned cooperative financial institution outside Quebec, sharing its expertise with over 210,000 members through a network comprised of 40 branches across Ontario, a call centre and multiple digital channels.
Members and customers also benefit from an industry-leading online brokerage and investment management services.
We are incredibly proud of our corporate culture, embodying our core values: Collaboration, Integrity, and Respect, where everyone works together towards a common goal; the financial wellbeing of our employees, members, and customers.
This commitment has earned us several prestigious employer awards, including the National Capital Region's Top Employers award for eight years running.

Equal Opportunity

We appreciate all applicants; however, preference will be given to candidates who most closely meet the qualifications, key skills, and competencies outlined above.
Alterna is compliant with the Ontarians with Disabilities Act and our team strives to provide an accessible accommodation experience. If you have a disability and require accommodations during the recruitment process, please contact our Recruitment Team and let us know how we can accommodate you.
Alterna does not currently use Artificial Intelligence (AI) to screen, assess, or select applicants