Director, AML Financial Intelligence Unit & High-Risk Customer Management

Paramount Commerce; Ontario; On-site; CAD 120,000 - 180,000; Full time

Job summary

Paramount Commerce is looking for a Director of AML Financial Intelligence Unit to enhance the organization's compliance framework related to financial crimes. This role involves oversight of investigations, regulatory reporting, and policy development for risk management. Candidates should have significant AML experience and a degree in relevant fields. Join a leading fintech firm committed to innovation and diversity in the financial sector.

Benefits

Equal opportunity employer

Ethical hiring processes

Qualifications

• CAMS certification preferred.
• 8-10 years progressive AML/FIU experience required.
• 3 years minimum in a leadership role.

Responsibilities

• Overseeing alert investigation workflow and regulatory filings.
• Developing and maintaining compliance policies and standards.
• Supporting the VP in AML strategies and risk assessments.

Skills

Transaction Monitoring

Alert Adjudication

Regulatory Reporting

Risk Assessment

Mentoring

Education

Degree in Law

Degree in Business Administration

Degree in Finance

Job description

We are Paramount Commerce, a leading fintech company focused on simplifying payments in Canada. Since the early 2000s, we have redefined online purchasing by introducing a way to pay directly from a bank account, bypassing credit cards or e-wallets. Our commitment is to provide the highest standards of security and risk management that support seamless payments and rich data.

As we strengthen our position in Canada, we are strategically positioning ourselves for global expansion. To achieve our goals, we are seeking talented professionals who can push the boundaries of innovation, contributing to our growth across Canada and worldwide. Join us at Paramount Commerce, where we not only follow fintech trends but shape them.

We are seeking a Director, AML Financial Intelligence Unit (“FIU”) and High Risk Customer Management who will be a key contributor to the further advancement of the adequacy and maturity of the Organizations’ compliance and risk management framework, including AML/ATF and (Economic) sanctions compliance (collectively “financial crimes compliance”), and obligations under the Retail Payment Activities Act (“RPAA”). The role will support the VP, Compliance & CAMLO in keeping the Organisations save and sound by effectively mitigating risks relevant for a registered Money Services Business and Payment Service Provider. A key focus of the Director, AML Financial Intelligence Unit & High-Risk Customer Management is exercising oversight of all investigative activities stemming from transaction monitoring and name-screening systems. This position ensures timely and accurate alert adjudication, directs the preparation and filing of all regulatory reports to FINTRAC (including Suspicious Transaction Reports, Electronic Funds Transfer Reports, Terrorist Property Reports, etc.), and manages the High-Risk Customer Program through the application of Enhanced Due Diligence (EDD) controls.

What will you do?

FIU Operations & Investigations

• Oversees the end-to-end alert investigation workflow for both transaction monitoring and name-screening systems, ensuring accurate triage, investigation, and disposition of all alerts;
• Ensures all regulatory reports required under the PCMLTFA/PCMLTFR - such as Suspicious Transaction Reports, Electronic Funds Transfer Reports, Terrorist Property Reports and Listed Persons and Entity Property Reports - are prepared, reviewed, and filed with FINTRAC in accordance with prescribed timelines and quality standards;
• Works with other stakeholders to identify and implement process improvements to reduce false positives, optimize alert thresholds, and improve investigator productivity.

High-Risk Customer Management & Enhanced Due Diligence

• Oversees the EDD process, including collecting, validating, and challenging source-of-fund/source-of-wealth information for High-Risk Customers;
• Ensures periodic reviews and refreshes of High-Risk Customer files, in coordination with Regulatory Onboarding (1LOD), are being conducted in accordance with internal Policies and Standards and potential gaps are being remediated in a timely fashion;
• Reviews and approves, under the leadership of the VP, Compliance & CAMLO, High-Risk Customer acceptances, renewals, and periodic reviews, ensuring all necessary controls, documentation, risk ratings, and senior approvals are conducted and recorded; and
• Executes additional tasks, as outlined in internal Policies, Standards and Procedures for which 2LOD is accountable.

Policy, Standards, Procedures and Strategic Planning

• Develops, implement, and maintains FIU and High-Risk Customer Management-related Policies, Standards, and Procedures, ensuring alignment with PCMLTFA/PCMLTFR/PCMLTSTRR/FINTRAC guidance, RPAA requirements, and internal risk appetite;
• In coordination with the VP, Compliance & CAMLO, develops and drives an annual FIU strategic plan - aligning resource requirements (budget,headcount, technology) to the Organizations’ risk appetite and business objectives.

Risk Management & Compliance Integration

• Supports the VP, Compliance & CAMLO to incorporate FIU findings and High-Risk Customer insights into the enterprise AML/ATF risk assessment and Customer Risk Rating Methodology (CRRM);
• Monitors changes in legislation, FINTRAC guidance, and industry best practices; translates these changes into actionable updates to Policies, Standards, Procedures, and system configurations.

Technology & Analytics

• Collaborates with Technology/Vendor partners and internal stakeholders to optimize transaction monitoring and name-screening tools ensuring the FIU has the appropriate data feeds, system licenses, and tuning parameters to operate efficiently;
• Leverages advanced analytics (e.g., machine-learning-enabled alert scoring) to enhance detection of complex ML/TF typologies and suspicious patterns.

Stakeholder Engagement & Communication

• Supports the VP, Compliance & CAMLO in reporting to the Board of Directors and Executive Committees by preparing and presenting quarterly and annual FIU KPI reports (e.g., alert disposition rates, STR volumes, EDD completion statistics), analyses of emerging threats, and assessments of resource needs;
• Serves as the subject-matter expert on AML investigations and High-Risk Customer matters for internal and external stakeholders, including senior management and business units.

Regulatory Reporting

• Oversees and quality-assure the preparation of all STRs and other FINTRAC regulatory filings as well as production orders, ensuring they meet regulatory standards for content, format, and timeliness;
• Maintains oversight of recordkeeping for all investigational documentation, ensuring completeness, accuracy, and retention in accordance with relevant requirements;
• Coordinates response efforts during regulatory examinations, providing documentation, system access, and subject-matter expertise to FINTRAC examiners and auditors.

Team Development

• Acts as Subject Matter Expert and provides mentoring, and training to Compliance Team members, fostering a culture of accountability and continuous improvement;
• Develop and deliver targeted training programs on transaction monitoring techniques, name-screening best practices, investigative methodologies, and EDD-related Policies, Standards and Procedures;
• Performs other duties and assists with initiatives assigned by the VP, Compliance & CAMLO.

What we are looking for:

• Degree in Law, Business Administration, Finance, or a related field;
• CAMS, equivalent certification is preferred;
• Minimum of 8-10 years of progressive AML/FIU experience in a financial institution or MSB environment, with at least 3 years in a leadership or supervisory capacity;
• Demonstrated expertise in transaction monitoring, name-screening technologies, alert adjudication, and regulatory reporting in a FINTRAC-regulated environment;
• Proven experience developing and managing High- Risk Customer Programs, including PEP screening, sanctions screening, jurisdictional risk assessments, and EDD frameworks;
• Experience in a Payment Service Provider is a strong asset.

At Paramount Commerce, we are proud to be an equal opportunity employer. We practice ethical and fair hiring processes and strongly encourage applications from diverse backgrounds. Accommodations are available on request for candidates taking part in all aspects of the selection process.

We are committed to creating a place for our employees to be their authentic selves. We believe diversity of thought, background, and experience are essential to achieve our mission to simplify payments.