Director, AML/ATF Compliance

Director, AML/ATF Compliance

DUCA is looking for a Director, AML/ATF Compliance to join our team. 

Job Purpose & Summary

The Director AML/ATF Compliance is responsible for maintaining the operating framework for the identification, management, monitoring and reporting of Anti-Money Laundering/Anti-Terrorist Financing  and Fraud Programs compliance.. Reporting to the VP Legal and Compliance, the Director, AML/ATF Compliance has responsibility for managing the Credit Union’s Anti-Money Laundering and Anti-Terrorist Compliance Program, as well as the Fraud Program and all associated matters independent from Internal Audit and the business units. The Director, AML/ATF Compliance works with the Executive Leadership Team (ELT), business units, and other departments to ensure the Credit Union has an adequate system of internal controls that operate efficiently and promote AML/ATF and Fraud compliance with all applicable laws and regulations across the entire enterprise. The Director, AML/ATF Compliance drafts regular compliance reports for the VP, Legal and Compliance and advises of emerging compliance issues while developing appropriate controls and processes to mitigate risk.

In fulfilling these responsibilities, the Director, AML/ATF Compliance follows framework established by regulatory agencies, including but not limited to, FINTRAC and FSRA, . In applying established frameworks, careful consideration is given to complexities within the Credit Union’s operations. Adherence to these frameworks is achieved through the development and implementation of timely, objective, quantifiable and actionable risk assessments which are designed to identify, and measure risk associated with compliance with various laws and regulations.

Key Accountabilities & Duties

• Develop, implement, and administer all aspects of the Credit Union’s Compliance Management Program related to AML/ATF and    
• Act as a business partner to the ELT and Business Units in managing compliance efforts at all levels of the organization, through participation in various strategic initiatives and projects.
• Identify, measure, monitor, and escalate compliance risks through the development of quantifiable risk assessments and oversight of consistent policies, procedures, and internal controls that align with the Credit Union’s Risk Appetite.
• Create and maintain an appropriate compliance infrastructure necessary to support DUCA’s products, services, Members, and various delivery channels, including online and broker channels. Operate an effective and efficient second line of defense function for compliance risk that partners with business units while providing a credible challenge to their risk taking.
• Manage all aspects of the following Compliance regime: AML/ATF, , Fraud, Production Orders, Compliance Testing and Training.
• Collaborate with business units and other areas such as Risk, Audit, and IT to appropriately direct compliance issues.
• Provide compliance guidance and expertise across the organization and ensure employees understand AML/AFF and regulatory Compliance requirements.
• Direct the review and amendment of existing compliance polices or creation and implementation of new compliance policies. Direct the development and implementation of appropriate testing methodologies designed to ensure compliance with all applicable laws and regulations. Evaluate new laws and regulations that may impact the Credit Union.
• Primary lead in organization wide projects and initiatives to advise lines of business on application of AML Compliance and Fraud requirements, relative to such areas as: new products, new vendors, new channels of delivery, process development, development of controls and monitoring, changes in law or regulations.
• Support the Credit Union’s strategic planning initiatives by leading special projects as necessary or as requested by the Board or ELT. These include, but are not limited to, due diligence reviews, fraud and suspicious activity research, consulting activities over a broad range of topics corporate-wide, various research and analysis projects, and other senior and executive management advisory roles as necessary.
• Report key risk issues to the VP, Legal and Compliance and in the absence of VP, Legal and Compliance to the Chief Risk Officer. Develop compliance action plans to mitigate known risks to manageable levels. Respond to alleged violations of laws, rules, regulations, policies and procedures with remediation action plans and oversee the ongoing monitoring and reporting of action plan progress. Monitor non-compliance and escalate any issues where non-compliance is not addressed.
• Facilitate the coordination of internal and external reviews of the AML/ATF Compliance Program.
• Act as a rimary lead on Internal Audit exams, including bi-annual reviews, FINTRAC regulatory examinations and external audit reviews , Coordinates and works closely with regulatory agencies during all examinations, providing a point of contact for information and explanation of regulatory compliance, policy, and procedures throughout the Credit Union. Maintain strong, professional relationships with regulatory agencies.
• Prepare responses to the findings identified in the reviews and examinations and drive remedial action to resolve gaps identified in audits and regulatory examinations..
• Advise the VP, Legal and Compliance of emerging compliance issues and consults and guides the Credit Union in the establishment of controls to mitigate risks. Collaborate with VP, Legal and Compliance on recommendations of significant or complex compliance events.
• Plan AML/ATF Compliance program strategy and activities to promote efficiencies, including outsourcing of certain Compliance functions

Occupational Experience & Education Requirements

• University degree in business, finance, or other relevant area
• 5+ years’ experience in financial services, preferably in an audit, compliance, or regulatory relations position
• 3+ years’ people management experience
• CAMS designation
• Clear understanding of applicable regulatory compliance and risk management practices within the financial services industry
• Subject matter expertise of PCMLTFA legislation , related regulations, and guidelines, Fraud and Production Orders
• Strong knowledge of PIPEDA, CASL, FATCA/CRS would be an asset
• Understanding of financial, operational, IT, and Risk

Knowledge, Skills & Attributes

• Critical thinking with strong analytical, risk assessment, and research skills
• Exceptional organization skills with very strong attention to detail
• Excellent oral and written communication skills with the ability to convert complex discussions into actionable items in a clear and succinct manner
• Ability to provide guidance, make decisions, and interact with all stakeholders with tact, strong judgment, discretion, and confidence.
• Collaborative and results-driven approach
• Demonstrated ability to work efficiently and effectively to meet challenging, conflicting, and tight deadlines
• Ability to build strong internal and external relationships
• Ability to maintain discretion with confidential or sensitive information
• Strong proficiency with all MS Office software, experience in information sharing technology an asset
• Demonstrated strategic leadership, team management, and people development experience

 Working Conditions

• Demands related to meeting challenging, conflicting, and tight deadlines
• Exposure to confidential and sensitive information
• Some irregular hours may be required

Department: Compliance 

Primary Location: Corporate Office

Employment Status: Full Time, Permanent 

Hours per Week: 38

Job Grade Level: 10

About DUCA

DUCA exists to help people do more, be more and achieve more with their money and their lives. We’re driven by a co-operative philosophy that puts our Members (and Owners) at the centre of every decision we make, gives them a voice in how we’re run, and rewards them for their loyalty by sharing our profits.

At DUCA, we’re dedicated to creating a positive environment where our employees have growth and development opportunities, a healthy work/life balance, opportunities to give back to the community, and a focus on doing what is right for our Members. DUCA offers a competitive total compensation package including base salary, a short-term incentive (bonus) program, a comprehensive benefits program, pension plan, and employee banking benefits.

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Qualified applicants are encouraged to submit their application. Applications must include both a resume and cover letter.

We thank all applicants but only those considered for an interview will be contacted.