AML & Fraud Analyst

AML & Fraud Analyst

DUCA is looking for an AML & Fraud Analyst to join our dynamic team!

Job Purpose & Summary

Reporting to the Director, Compliance & Corporate Secretary and supervised by the Senior AML and Fraud Analyst, the AML and Fraud Analyst works effectively to execute and enhance the AML/ATF and Fraud Program at DUCA.  The AML and Fraud Analyst is expected to have a strong understanding of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (“PCMLTF”) and patterns and trends consistent with money laundering/terrorist financing and fraud schemes.  The AML and Fraud Analyst is expected to keep abreast of new and upcoming legislation relating to Anti-Money Laundering/Counter-Terrorist Financing.

The AML/Fraud Analyst will be responsible for accomplishing a variety of tasks and collaborating with multiple departments and third-party service providers, including but not limited to Retail and frontline employees, FINTRAC, External Auditors, and Navaera.

This position requires someone who is able to learn and apply industry standards and regulations, is detail-oriented, has strong written and verbal communication skills, and supports the Compliance Department in promoting and fostering a compliance culture at DUCA.

Key Accountabilities & Duties

• Conduct an initial assessment on alerts to identify unusual transactions (“UTRs”) that need to be escalated for further review by the Investigations team
• Assess trends in the alert data and prepare recommendations based on the analysis, in order to minimize the possibility of false positives and for continuous enhancement of the transaction monitoring model
• Work directly with third-party service providers and frontline employees to maintain Member KYC information updates to comply with legislative requirements
• Ensure timely, efficient regulatory reporting of large cash transactions and wire transfers by working directly with our third-party provider, Central1 AML Services
• Assess the risk of wire transfers being sent to/received from high risk countries
• Assist in coordinating and ensuring timely completion of AML training with all employees
• Monitor fraud alerts to identify potential fraud related to cheques, email money transfers, POS, and debit card fraud.  Work with branch and head office staff on root cause analysis and preventative measures
• Assist in conducting ongoing reviews on High/Medium risk Members within the allocated time frames and action using judgment to determine further actions required by DUCA, including but not limited to decisions on Member Divestitures and resulting recommendations to the Board and Audit Committee
• Assist in the planning, testing, back-testing and implementation of system enhancements and conversions
• Keep abreast of legislative and regulatory requirements, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), and remain current on organizational practices, policies, procedures and identify immediate risk concerns pertaining to legislative and regulatory requirements
• Provide assistance, where required, during regulatory examinations and external reviews
• Complete other duties and projects as may be assigned by the Director, Compliance or Senior AML & Fraud Analyst

Occupational Experience & Education Requirements

• High level of integrity with the ability to deal with confidential and sensitive Member and Employee information with a high degree of professionalism
• Ability to work independently and cooperatively within a team and throughout the organization
• Critical thinking and analytical skills with a focus on problem solving and continuous improvement
• Meticulous attention to detail and very strong organizational and prioritization skills
• Ability to interpret and operationalize regulatory requirements
• Proficient computer skills including Microsoft Excel, Word, Outlook and use of Internet, and ability to learn other programs
• Excellent writing and communication skills
• Ability to work quickly and accurately, with the flexibility to deal with priorities
• Ability to make sound decisions reflecting good judgment
• Strong execution skills with attention to detail and focus on clear, realistic action steps and timelines
• Ability to work effectively in the face of ambiguity, shifting priorities and multiple deadlines

Knowledge, Skills & Attributes

• 3+ years' experience in a financial services environment with exposure to regulatory compliance
• University degree or College Diploma in a related field
• 2+ years’ in the AML/Fraud industry
• AML/ATF Certification/Courses considered an asset
• Fraud Certification/Courses considered an asset
• Expert computer skills in MS Excel, MS Word

Working Conditions

• Normal office environment

Department: Compliance

Primary Location: Corporate office - 5255 Yonge Street, North York, ON

Employment Status: Full-time

Hours per Week: 38 hours

Job Grade Level: TBD

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.