AML & Compliance Manager – Legal & Compliance Department

BANK OF CHINA; Markham; On-site; CAD 80,000 - 120,000; Full time

Job summary

A leading financial institution is looking for an AML Compliance Manager to develop and implement compliance programs and procedures related to Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF). The successful candidate will ensure compliance with regulatory requirements and assist in managing the overall AML compliance framework. This role demands strong analytical, communication, and organizational skills, with a focus on maintaining a culture of compliance across the banking operations. Preference will be given to candidates with experience in the Canadian financial services sector and proficiency in the Chinese language.

Qualifications

• 5 years of experience in AML / ATF, Risk Management and Compliance.
• Experience with AML / ATF Laws and Regulations.
• People management experience preferred.

Responsibilities

• Manage and execute AML / ATF compliance monitoring programs.
• Improve and maintain AML / ATF policies and procedures.
• Develop and participate in compliance programs and initiatives.

Skills

Research

Communication

Organizational Skills

Time Management

Public Speaking

Problem Solving

Education

University degree in business, finance or related field

Tools

IT applications (e.g. Word, Excel, Outlook)

Job description

The AML Compliance Manager reporting to the Bank’s CAMLO will assist in developing, implementing and administering all aspects of the Bank’s AML and compliance programs. Including the development and implementation of compliance systems, policies and procedures to identify and assess the compliance risks and compliance related information.

He / she will be responsible for designing, evaluating, supporting, and influencing a culture of AML compliance throughout the Bank, as well as assisting in the management and execution of an efficient AML compliance monitoring program.

Responsibilities include but are not limited to :

• Handle the management and execution of second line monitoring and assessment program for AML / ATF.
• Improve and maintain AML / ATF policies and procedures.
• Ensure compliance with OSFI and FINTRAC regulatory requirements.
• Aid in the improvement of tools to monitor, analyze, and report financial activities as required to FINTRAC.
• Handle file reviews of suspicious activity to ensure compliance with the policies and procedures put in place.
• Identify and inform of any changes to legislation and other regulatory requirements relating to AML / ATF.
• Aid in the design, development, and implementation of the AML / ATF client risk assessment methodology to support all customer interactions.
• Ensure consistent and timely feedback on AML / ATF cases that have been escalated.
• Liaise with management to develop investigative and AML / ATF compliance strategies.
• Develop and participate in the Bank’s compliance programs and initiatives as required.
• Provide relevant compliance reporting to LCD Managements specifically related to AML / ATF.
• Ensure detailed and prompt investigation of all AML / ATF incidents and cases.
• Help with identifying any AML / ATF and Compliance loopholes and coordinating projects to bridge those gaps.
• Maintain a proper register of all incidents reported internally and externally.
• Assist in general compliance awareness, training initiatives and refresher training throughout the Bank.
• Keep abreast with new and emerging regulatory changes, compliance risks and financial crime trends.
• Assist in managing the AML / ATF Compliance Program in accordance to the Bank’s RCM Policy and OSFI Guideline E-13.
• Works on special projects as required providing guidance and advice on risk and compliance related issues arising from new and proposed business activities.
• Perform other functions as assigned by the CAMLO, as and when required.

Skills and Experience

• University degree in business, finance or a related field, combined with 5 years of experience in AML / ATF, Risk Management and Compliance within the Canadian financial services sector.
• Experience interpreting law and regulation as it applies to the financial services sector specifically related to AML / ATF Laws and Regulations.
• Sound understanding of regulatory trends and issues related to AML / ATF.
• Excellent research, communication and organizational skills.
• Ability and comfort in dealing with all levels of staff within the Bank, as well as with regulators.
• Strong time management skills and ability to meet deadlines for multiple projects at the same time.
• Strong public speaking and presentation skills.
• Well-developed oversight and the organizational awareness skills.
• Ability to deal with conflicting points of view and to effect creative and responsive solutions.
• People management experience preferred but not a must.
• Proficiency in Chinese Language preferred but not a must
• Good working knowledge of IT applications (e.g. Word, Excel, Outlook etc.).