Senior Investigator, Anti Money Laundering

  • Company:
    BMO Harris Bank
  • Location:
  • Salary:
    negotiable / monthly
  • Job type:
    Full-Time
  • Posted:
    1 month ago
  • Category:
    Business / Mgmt

The Senior Investigator, Watch-list Management (WLM) & Sanctions Compliance will provide support and transaction/alert investigation for the AML Program WLM, Wires, and sanctions compliance operational processes. This includes investigating sanctions compliance and WLM related alerts and transactions and utilizing key program knowledge to ensure compliance and escalate where required. This role operates in a fast paced production environment with high demands in meeting regulatory and service objectives in a timely and effective manner. The role also requires the daily analysis of wire payment escalations and strategic name matching alerts from multiple lines of business; including adjudication for potential sanctions compliance and AML Program issues. KEY ACCOUNTABILITIES Business Delivery & Operational Effectiveness – 40% Investigate real-time wire payment escalations for sanctions compliance issues. Escalate high risk wire payments to the Lead Investigator or Manager for additional risk assessment. Provide detailed review and assessment to ensure all information is documented and communicated accurately. Adjudicate alerts from Watch List Management to identify potential PEPs (Politically Exposed Persons) or persons or entities related to Sanctions Compliance and escalating as appropriate for further investigation or reporting in accordance with defined processes and legislation. Ensure that all assigned wire payments, alerts or other transactions are reviewed and completed within appropriate timelines; while meeting the daily or monthly targets set forth by the Manager and ensuring that the quality of the work performed meets the standards prescribed by the specific quality assurance matrix. Communicate with business partners and / or customer directly to obtain required information / documentation as needed to complete investigations. Assimilate, review and validate all relevant documentation from the various businesses and follow-up for documentation / information if not received in a timely manner as required for investigations. Conduct a comprehensive review of alerts and transactions related to WLM and Sanctions Compliance to assess risks posed to bank, understand regulatory obligations and requirements and provide a final recommendation to process, reject, hold transactions based on assessment and risk of customer/transaction or other information. Evaluate options for compliance with regulatory requirements and define and recommend possible solutions / actions to mitigate identified risks. Client & Relationship Management – 20% Act as the subject matter expert for Sanctions issues relating to wire payments, WLM and other transactions for the Bank and its operating groups. Manage and respond to incoming requests for information, escalations from lines of businesses related to wire payment and WLM escalation and action/respond in a timely manner to insure no negative impact to customers or internal lines of business. Escalate as appropriate to the Lead Investigator or Manager. Provide advice and counsel to ensure internal and external partners understand the AML and Sanctions compliance and risk management requirements and impacts to businesses. Provide input into the development of training aids / materials based on gaps identified through interaction with businesses and business segments, to ensure adherence to compliance requirements related to the AML / ATF / Sanctions legislation, policies, and procedures for wire payments, WLM and other transactions as needed. Risk Management and Control – 30% Ensure problem escalation, mitigation and preventative measures are consistent with regulatory and corporate requirements Document all information found throughout investigations. Develop an understanding of current internal Sanctions and AML policies and procedures as well as those set by external regulations. Ensure all wire payments, WLM alerts and other transactions are managed appropriately to ensure the Bank is in full compliance with these measures. Ensure adherence to all aspects of First Principles, our code of Business Conduct and Ethics, including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, sanctions, privacy and disclosure of outside business activities. Keep abreast of evolving Sanctions Compliance and AML requirements and regulatory changes that could impact role and operational effectiveness. Change & Innovation – 10% Make recommendations to the Manager, WLM & Sanctions compliance based on observations and feedback from the business regarding the operational risk governance system for WLM and Sanctions Compliance. Able to actively support all groups of the AML Office and AML FIU as required. Adaptable to adjust to changing priorities on a daily basis and must co-ordinate effectively with team members to ensure any and all operational needs are met. Ensure ongoing improvement and evolution of governance programs and practices in response to identified risks and/or gaps in the system. Monitor the ongoing effectiveness of the wire payment and WLM processes as the business and environment evolve and change, identifying exposures, gaps and/or trends and making recommendations for adjustments to the Manager, WLM & Sanctions Compliance. The Senior Investigator, Watch-list Management (WLM) & Sanctions Compliance will provide support and transaction/alert investigation for the AML Program WLM, Wires, and sanctions compliance operational processes. This includes investigating sanctions compliance and WLM related alerts and transactions and utilizing key program knowledge to ensure compliance and escalate where required. This role operates in a fast paced production environment with high demands in meeting regulatory and service objectives in a timely and effective manner. The role also requires the daily analysis of wire payment escalations and strategic name matching alerts from multiple lines of business; including adjudication for potential sanctions compliance and AML Program issues. KEY ACCOUNTABILITIES Business Delivery & Operational Effectiveness – 40% Investigate real-time wire payment escalations for sanctions compliance issues. Escalate high risk wire payments to the Lead Investigator or Manager for additional risk assessment. Provide detailed review and assessment to ensure all information is documented and communicated accurately. Adjudicate alerts from Watch List Management to identify potential PEPs (Politically Exposed Persons) or persons or entities related to Sanctions Compliance and escalating as appropriate for further investigation or reporting in accordance with defined processes and legislation. Ensure that all assigned wire payments, alerts or other transactions are reviewed and completed within appropriate timelines; while meeting the daily or monthly targets set forth by the Manager and ensuring that the quality of the work performed meets the standards prescribed by the specific quality assurance matrix. Communicate with business partners and / or customer directly to obtain required information / documentation as needed to complete investigations. Assimilate, review and validate all relevant documentation from the various businesses and follow-up for documentation / information if not received in a timely manner as required for investigations. Conduct a comprehensive review of alerts and transactions related to WLM and Sanctions Compliance to assess risks posed to bank, understand regulatory obligations and requirements and provide a final recommendation to process, reject, hold transactions based on assessment and risk of customer/transaction or other information. Evaluate options for compliance with regulatory requirements and define and recommend possible solutions / actions to mitigate identified risks. Client & Relationship Management – 20% Act as the subject matter expert for Sanctions issues relating to wire payments, WLM and other transactions for the Bank and its operating groups. Manage and respond to incoming requests for information, escalations from lines of businesses related to wire payment and WLM escalation and action/respond in a timely manner to insure no negative impact to customers or internal lines of business. Escalate as appropriate to the Lead Investigator or Manager. Provide advice and counsel to ensure internal and external partners understand the AML and Sanctions compliance and risk management requirements and impacts to businesses. Provide input into the development of training aids / materials based on gaps identified through interaction with businesses and business segments, to ensure adherence to compliance requirements related to the AML / ATF / Sanctions legislation, policies, and procedures for wire payments, WLM and other transactions as needed. Risk Management and Control – 30% Ensure problem escalation, mitigation and preventative measures are consistent with regulatory and corporate requirements Document all information found throughout investigations. Develop an understanding of current internal Sanctions and AML policies and procedures as well as those set by external regulations. Ensure all wire payments, WLM alerts and other transactions are managed appropriately to ensure the Bank is in full compliance with these measures. Ensure adherence to all aspects of First Principles, our code of Business Conduct and Ethics, including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, sanctions, privacy and disclosure of outside business activities. Keep abreast of evolving Sanctions Compliance and AML requirements and regulatory changes that could impact role and operational effectiveness. Change & Innovation – 10% Make recommendations to the Manager, WLM & Sanctions compliance based on observations and feedback from the business regarding the operational risk governance system for WLM and Sanctions Compliance. Able to actively support all groups of the AML Office and AML FIU as required. Adaptable to adjust to changing priorities on a daily basis and must co-ordinate effectively with team members to ensure any and all operational needs are met. Ensure ongoing improvement and evolution of governance programs and practices in response to identified risks and/or gaps in the system. Monitor the ongoing effectiveness of the wire payment and WLM processes as the business and environment evolve and change, identifying exposures, gaps and/or trends and making recommendations for adjustments to the Manager, WLM & Sanctions Compliance. Knowledge & Skills Sanctions Compliance and AML Experience preferred Demonstrated strong judgment, decisiveness. Analytical Thinking (in-depth) Environmental Understanding (working) Influence (working) Problem Solving (in-depth) Risk Management (in-depth) Relationship Management (strong) Post-Secondary education 3-5 years financial services experience preferred Excellent verbal and written communication skills. Bilingualism (French) considered an asset. We’re here to help At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank. As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset. To find out more visit us at https://bmocareers.com . BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. Knowledge & Skills Sanctions Compliance and AML Experience preferred Demonstrated strong judgment, decisiveness. Analytical Thinking (in-depth) Environmental Understanding (working) Influence (working) Problem Solving (in-depth) Risk Management (in-depth) Relationship Management (strong) Post-Secondary education 3-5 years financial services experience preferred Excellent verbal and written communication skills. Bilingualism (French) considered an asset. We’re here to help At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank. As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset. To find out more visit us at https://bmocareers.com . BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. Analytics & ReportingAnalytics & ReportingCanada-Ontario-TorontoCanada-Ontario-TorontoERPM-X000073ERPM-X000073full-timefull-time10/26/1810/26/1811/09/1811/09/18