Deputy Camlo

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

About Alterna Savings

Alterna Savings and Credit Union Limited (Alterna) has been 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.

As the first full-service, member-owned cooperative financial institution outside Quebec, Alterna Savings shares its expertise with over 210,000 members through a network of over 40 branches across Ontario, as well as call centre and digital channels. Members and customers also benefit from an industry-leading online brokerage and investment management services.

Working at Alterna

We are incredibly proud of our corporate culture of Integrity, Respect and Collaboration, 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.

* Although we appreciate all applicants, 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. If you have a disability, please contact our Recruitment Team and let us know how we can accommodate you.