Senior Anti Money Laundering Officer, Canadian Personal and Commercial, Commercial Banking, Enterprise Anti Money Laundering Senior Anti Money Laundering Officer, Canadian  …

Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Senior Anti Money Laundering Officer, Canadian Personal and Commercial, Commercial Banking, Enterprise Anti Money Laundering
The Senior Anti Money Laundering Officer, Canadian Personal and Commercial, Commercial Banking role is accountable to oversee and lead the successful oversight and monitoring of the comprehensive AML Program across the Canadian P&C commercial lines of business. Utilizing an understanding of both AML/ATF regulatory requirements and AML risk management requirements, the role, as part of the team, is accountable to ensure assessment and mitigation of their impact from end-to-end (i.e. from product origination through fulfillment) to processes. The role will particularly be a lead to analyse data sets to determine AML risk.

Under the general direction of the Director and AML Officer, this individual will advise and counsel commercial lines of business, in order for the line(s) of business to implement procedures and controls to comply with AML regulatory requirements.

Key Accountabilities
Business Delivery and Operational Effectiveness
  • Provide advice to the Canadian P&C commercial line(s) of business respecting changes to the AML Program and AML regulations that affect the line(s) of business.
  • Identify and maintain up-to-date reference and source materials for AML Legislation and ensure that the line(s) of business has access to and a full understanding of same as they apply to the line(s) of business in order to have the information they need to manage regulatory risk.
  • Communicate to the line(s) of business AML issues raised through the operation of the business, including issues relating to customers, transactions and processes.
  • Design and manage an effective program to assess initiatives of the line(s) of business for AML implications: review new initiatives, including changes in products, delivery channels, supplier relationships, acquisitions, legal entity and regulatory status, customer base, jurisdiction and other changes proposed by the line(s) of business and advise the AML compliance issues and action plans raised thereby.
Client and Relationship Management

  • Establish and manage working relationships with key managers within the line(s) of business and provide proactive advice and communications to clients across the line(s) of business to ensure that AML issues are identified, understood and addressed.
  • Build and support strong relationships with other AML functions and support, including AML Financial Intelligence Unit, AML Risk, AML Governance and other AML Officer functions of other Operating Groups.
  • Monitor and govern AML risk management activities, providing line(s) of business decision-makers with AML risk management information, advice and counsel.
  • Develop and maintain an understanding of the business, ensuring that support being provided meets needs, and keeping informed of changes or initiatives that have AML risk implications.
  • Provide support to the line(s) of business in their review of project requirement documents to ensure the AML effectiveness of the requirements.
  • Collaborate with the team and other AML functions in order to strengthen the AML Program across the Enterprise.

Risk Management and Control
  • Advise the line(s) of business on AML developments and emerging issues to ensure they are well understood and expected impacts are fully considered.
  • Provide communication and education initiatives to raise awareness across the line(s) of business.
  • Review assurances and reporting provided by the line(s) of business in respect of AML Compliance.

Change and Innovation
  • Maintain awareness of changes to AML legislation, regulations, guidelines, and policies and assess the impacts of these changes; provide guidance to the line(s) of business to make amendments to policies, processes and programs as required.
  • Review initiatives subject to the New Product Approval Process to assess the incremental inherent risk and recommend mitigants to the line(s) of business to reduce their residual risk.
  • Review proposed changes to Operating Group / line(s) of business policies and procedures, as requested, providing guidance on AML effectiveness of changes.

Knowledge and Skills

  • University Degree or equivalent with 3 years+ experience in an AML compliance or compliance related function, regulatory body, or equivalent business experience
  • In depth knowledge of [insert OG] products, services, processes, and organization
  • In-depth knowledge of AML regulations, formal guidance, and regulatory expectations, CAMS designation preferred
  • In-depth knowledge of risk management practices

  • In-depth research and analytical skills
  • Proven communication and relationship building skills
  • Planning and organizing skills and ability to manage multiple priorities
  • Ability to influence and perform a challenge function
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 .

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. To request accommodation, please contact your recruiter.