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Deputy CAMLO Job in Toronto Recruiting by Alterna Savings

Deputy CAMLO

🔖 Full Time

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Location: Toronto or Ottawa

Scope of Position

The Deputy CAMLO is directly responsible for the content, design and enterprise-wide implementation of the anti-money laundering/ anti-terrorist financing (AML/ATF) and sanctions program within Alterna Savings and Alterna Bank (“Alterna”); is a key contributor to the compliance strategy and also directly responsible for all facets of the design, development and management of the related policies and procedures, ongoing training, risk assessment, and effectiveness review; and is also responsible for managing, coaching and motivating a team.. The Deputy CAMLO will ensure Alterna is fully compliant within their area of regulatory responsibilities.

Major Responsibilities

Responsible and accountable for AML/ATF program content, design and enterprise-wide implementation. In particular:

Oversees the AML/ATF and sanctions program to ensure it is current relative to the organization’s identified inherent risks (clients and business relationships, products and delivery channels, geographic locations of activity and any other relevant factors)

Oversight of AML/ATF control activity in all relevant business areas for the purposes of establishing a reasonable threshold level of control consistency throughout the enterprise

Ensuring that resources, including those required to identify and report suspicious transactions and suspicious attempted transactions, are sufficient in all relevant areas of the organization

Owning and maintaining AML/ATF and sanctions policies and procedures to be reviewed periodically by the Executive Leadership Team and/or the Board as appropriate and as required recommend changes where necessary to ensure they are reflective of all legislative and guidance requirements

Managing the development, maintenance and completion of an assessment of inherent ML and TF risks, including being satisfied that new product/service/business acquisition processes are subjected to timely inherent risk analysis and appropriate controls are developed to mitigate identified risks

Managing the development, maintenance and completion of a self-assessment of controls

Responsible for the improvement, development, delivery and maintenance of ongoing AML/ATF training programs for Management, employees, agents and other persons authorized to act on the organization’s behalf

Ensuring that systems and other processes that generate information used in reports to Management and the Board are adequate and appropriate, use reasonably consistent reporting criteria, and generate accurate information

Reporting to VP Compliance and CAMLO pertinent information about AML/ATF program adequacy and issues

Ensuring the timely and effective implementation of changes in, or new, regulations into business processes and procedures

Ensuring that Alterna is following and remains up to date on regulatory requirements at the Federal and Provincial level

Overseeing all regulatory filings

Is the point of contact and SME for AML/ATF inquiries

Ongoing monitoring of changes in the industry to ensure Alterna is doing the most to reduce non-compliance risk

Attends industry meetings

Liaises with internal audit and regulators as required.

Manage the day to day operation and activities as it relates to the AML/ATF department and staff. In particular:

Provide leadership, direction, and motivation to the department staff with ongoing professional development

Ensure the staff carries out their assigned daily tasks such as monitoring of High Risk clients, Alerts, Large Cash Transactions

Maintain and oversee the day to day relationships with the external partners; including regulators

Research and resolve complex operational issues

Expectations / Outcomes

Adequate anti-money laundering program prevention and detection framework is maintained

Risks are identified in a proactive and urgent manner to minimize the losses and risk exposure to the Alterna

Regulatory reporting is accurate, complete and delivered in accordance to set timelines and requirements

AML/ATF staff are effective and efficient in the completion of their duties and contribute to the success of Alterna, and

Sound AML/ATF and risk awareness and practices are adopted and maintained by all areas of the Alterna.

Qualifications

Education / Certifications / Experience

Bachelor’s degree in Business, Law, Economics, or Criminology – or equivalent work experience

10 + years of banking / financial services (or related) experience

7 + years progressive experience in the areas of financial crime prevention, AML or fraud

7 + years of experience working with regulators at the Federal and Provincial level

Deep knowledge of the regulatory environment at both the Federal and Provincial level

5 years of direct management experience

Successful completion of the Certified Anti-Money Laundering Specialist exam (CAMS) and/or equivalent work experience

Knowledge or completion of risk management related courses/certifications (or related experience) considered an asset

Knowledge / Skills

Strong working knowledge and understanding of all regulations affecting the Credit Union and Bank

Specialized knowledge in Anti-Money Laundering / Terrorist Financing

Proficient with Outlook, Word and Excel is required

Competencies

Utmost dependability

Solid managerial leadership skills

Excellent written and verbal communication skills

Proven ability to work under pressure and meet deadlines

Strong analytical and problem solving skills

Strong influencing skills

Very strong attention to detail

Exhibit a strong work, service ethic and conduct

Effectively mentors and coaches others

Demonstrated ability to establish service standards and develop strategies to ensure staff meet them

Demonstrated ability to challenge inefficient and ineffective work processes and offer constructive alternatives

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Are you searching for a Deputy CAMLO job in Toronto?

Great News! We've discovered an exciting live job opportunity for a Deputy CAMLO position in Toronto. This job is currently open for hiring/recruiting by Alterna Savings, exclusively for you at Canada Jobs. Feel free to download the job details here.
What is the work culture like at Alterna Savings?

The work culture at Alterna Savings must adhere to the Ethics of Work Culture as described in the Ethical framework of the UN Charter. You can gain more insights into their local workplace environment by exploring their jobs Alterna Savings and also by visiting their official website through Google.
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