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About the Role
The AML/ATF Officer will be responsible for daily transaction review and analysis related to Money Laundering and Terrorist Financing, ensuring compliance with FINTRAC reporting and executing risk-based monitoring.
Responsibilities
- Complete all FINTRAC transaction reporting, including managing records of Large Cash Transaction and Large Wire Transfer submissions.
- Review and secondary review of transaction reports.
- Complete FINTRAC reports accurately and on time.
- Conduct Enhanced Due Diligence (EDD) investigations for High-Risk accounts.
- Investigate AML/ATF and Watchlist alerts generated by Verafin.
- Investigate all suspicious items identified through analysis or referred by employees.
- Liaise with other departments to perform independent investigations.
- Apply AML/ATF transaction analysis principles.
- Ensure all investigations follow a documented approach through the case management process on Verafin.
- Review Alerts generated by Verafin, create cases, and investigate suspicious items.
- Perform daily transactional analysis to assess High, Medium, and Low risk clients.
- Review KYC documents at account opening.
- Review PEDPs, PEFDs, HIO.
- Review regulatory transaction reports to ensure required documentation is compiled and saved.
- Draft Case reports for Team Lead review.
- Submit Suspicious Transaction Reports after full investigation for secondary review.
- Respond to AML compliance queries received by phone or email.
- Support team leaders, branch managers, and call centre on AML compliance issues.
- Complete documented comprehensive member/customer/product/business process analysis.
- Review and analyze reports.
- Review and update documentation and processes.
- Review processes.
- Conduct detailed sample reviews.
- Complete reports.
Requirements
- Post-Secondary education in a related field (business, law, economics, criminology) or equivalent experience.
- 1-3 years of AML experience or similar role.
- 1-3 years of banking industry experience.
- Knowledge or completion of banking/investment industry courses is an asset.
- Knowledge or completion of Audit related courses/certifications is an asset.
- Knowledge or completion of Risk management related courses/certifications is an asset.
- Leadership experience is considered an asset.
- Demonstrates strong critical thinking skills to analyze information, evaluate options, and make sound decisions.
- Experience and knowledge with Alterna processes and controls is an asset.
- Strong Excel report development skills.
- General working knowledge and understanding of all regulations affecting the Credit Union and Bank.
- Good knowledge in AML/ATF.
Skills
- Critical thinking
- Excel report development
- AML/ATF knowledge
Work Type
- Full Time
Experience Level
- 1-3 years of AML experience or similar role
- 1-3 years of banking industry experience
Education Level
- Post-Secondary education in a related field (business, law, economics, criminology) or equivalent experience
- Certified Anti-money Laundering Specialist exam or similar certification, an asset
- Banking/investment industry courses, an asset
- Audit related courses/certifications, an asset
- Risk management related courses/certifications, an asset
Salary/Compensations
- $56,760- $70,000
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 nine consecutive years.
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.