Manager, AML/ATF Governance

Socket.dev; Toronto; On-site; CAD 85,000 - 105,000; Full time

Job summary

Alterna Savings is seeking a Manager, AML/ATF Governance to lead governance and risk management for AML/ATF programs. You will drive policy updates, training, and regulatory interpretation across the organization.

The role focuses on developing robust controls, coordinating with CAMLO, and ensuring compliance with AML/ATF laws and sanctions, with a strong emphasis on continuous improvement and cross-functional collaboration.

Qualifications

• Minimum 5 years of experience in retail banking with AML/ATF responsibilities.
• Successful CAMS certification or equivalent designation.
• Post-secondary education in business, banking, criminology, law or economics.

Responsibilities

• Develop and lead change management for AML/ATF policies, standards, and procedures.
• Maintain AML/ATF policy library and ensure updates on cadence or as needed.
• Provide sound advice on regulatory changes and guidance to the business.
• Develop and maintain AML QC policies, procedures, and reporting.
• Review and tune transaction monitoring rules and AML/ATF controls.
• Lead training for the AML/ATF team and first line.
• Oversee key processes and report to management and board as needed.

Skills

AML/ATF knowledge

Policy governance

Leadership

Regulatory interpretation

Training development

Education

Post-secondary education in related field

CAMS certification

Tools

Excel

Microsoft Word

Job description

Job Type: Full-Time

Vacancy Status: This posting is for an existing vacancy

Target Salary Range: $85,000-$105,000

The compensation for this position is determined by a combination of skills, experience and is aligned to the market in which the job is posted. Your recruiter will provide additional details about our total rewards package during the hiring process.

Scope of Position

The Manager, AML/ATF Governance performs a key risk management role and supports the CAMLO in the development and implementation of a sound and effective AML/ATF/sanctions program, ensuring that Alterna complies with applicable laws and regulations. The Manager, AML/ATF Governance is responsible for supporting the Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) Program framework, influencing change across the organization, and driving results.

Major Responsibilities

The Manager, AML/ATF Governance is responsible for the overall governance aspects of the AML/ATF program, in particular:

• Develop and lead change management for policies, standards, and procedures;
• Maintain the policy and procedure library and ensure it is updated on a regular cadence or on an ad hoc basis, as required;
• Support the business with sound advice when 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;
• Maintain a clear understanding of the main AML/ATF platform and optimize it for maximum efficiency and effectiveness;
• Source and work with vendors to support and enhance the program;
• Review transaction monitoring rules and tune as required;
• Develop, provide, and track training for the AML/ATF team, as well as the first line;
• Oversee and track key processes to ensure they are completed in a timely manner;
• Provide input to management and board reporting;
• Report pertinent information to the CAMLO about AML/ATF governance and quality control adequacy and issues;
• Review FINTRAC policy interpretations and implement changes as required, including training staff and updating procedures or systems;
• Provide gap assessment and mitigation recommendations on an ongoing basis;
• 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, and socialize findings and make recommendations as required;
• 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, technology developments,;
• Lead periodic departmental meetings and provide ongoing coaching and mentoring;
• Act as a subject matter expert in anti-money laundering/anti-terrorist financing for the organization;
• Assist in the creation of new processes and their implementation, following regulatory changes and/or identification of efficiency opportunities;
• Promote a teamwork environment that strives for continuous improvement;
• Coordinate with retail operations and product to create additional training tools to assist the branches;
• Conduct first- and second-line control testing and quality assessments of team lead quality control;
• Review all departmental tasks on a regular basis and identify process improvements;
• Identify and bring forward banking system enhancement options to Banking Support, outlining departmental requirements;
• Help to facilitate the preparation of periodic audits by regulators and internal audit;
• Represent the department on special projects and organizational initiatives to ensure that AML/ATF-related aspects are considered and all requirements are met;
• Complete user testing for banking system releases, ensuring all processes function accurately, identifying potential issues, and evaluating implementation risk;
• Engage with industry associations and other AML/ATF associations.
• Additional accountabilities as required.

Manage the day-to-day operations and activities related to the AML/ATF Quality Control program and staff. In particular:

• Provide leadership, direction, and motivation to the quality control staff, including ongoing professional development;
• Ensure the quality control staff carry out their assigned daily tasks.

Qualifications

Education / Certifications / Experience

• Post-secondary education in a related field (business, banking, criminology, law, economics).
• Minimum of 5 years of experience in the retail banking industry;
• Minimum of 5 years of direct, recent experience in AML/ATF;
• 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;
• Experience interpreting legislation related to AML/ATF.

Knowledge / Skills

• Specialized knowledge of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and 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;
• The ability to assist in interpreting legislation and changes in regulatory requirements and to assist business partners in understanding and applying the required changes;
• 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 is required.

Competencies

• Excellent written and verbal communication skills that enable effective interaction with senior management, employees, business representatives and government officials;
• 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.

About Alterna Savings

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.

To learn more about Alterna Savings, please visit alterna.ca, X, Facebook, Instagram, or LinkedIn.

Working at Alterna

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.

* 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