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Supporting the Global Head of the High Risk Client Management (HRC), the Director will lead a large team and provide strategic direction and end-to-end ownership and execution of core risk decisions related to the identification, escalation, assessment, and management of High Risk Clients. This includes the execution and management of Enhanced Due Diligence reviews, Client Risk Rating (CRR) model alerts and periodic reviews, as well as the identification, confirmation, management, approval, and reporting of higher risk clients and escalations to the relevant oversight committees (e.g., Reputational Risk and Oversight Committee (RROC), Client File Review Committee (CFR).
What will you do?
Manage a team of 35 to 40 staff members (4-5 direct reports) ensuring day to day execution of key functions.
Participate in the development of the High Risk Client Management Strategy and Policies and assist in implementing the High Risk Client strategy globally
Build and manage the HRC/EDD team and associated functions in Canada.
Lead and manage the day to day execution of HRC processes (including CRR, Periodic Reviews, business escalations, high risk sectors, and reporting), and ensure where applicable, all regulatory timeframes are met.
Investigate, review and approve High Risk Clients, partnering with the appropriate Money Laundering Reporting Officers, Compliance Senior Staff Members, Business, Law Group and CIS as required.
Assist to develop, enhance and implement a standard Enhanced Due Diligence process for Global AML Compliance.
Review oversight committee submissions and provide the AML Compliance point of view with appropriate recommendations.
Liaise directly with the AML Insights & Analytics team to continue development and enhancement to the HRC process for CRR and periodic transaction monitoring based on risks, risk discussions with businesses and documentation of known risks.
Continue to enhance the high risk client methodologies based on internal and industry developments.
Accountable to liaise with the Global AML Program Management for all process and policy documentation, process improvement system changes, system development and major project deployment.
What do you need to succeed?
7+ years of experience in Financial Crimes, with strong AML/Fraud knowledge to prevent the use of RBC's financial services for money laundering and terrorist financing
Knowledge of AML compliance requirements and regulations for Canada, US and other jurisdictions where RBC operates
Knowledge of regulatory requirements such as: AML - Canada / US, OSFI, OFAC, OCC, Bank Act, CPA, IDA/OSC, BSA, PIPEDA
Demonstrated people / team management experience and expertise
Awareness of banking products, requirements and regulations
University Degree or equivalent
Professional designation/certification in AML, Financial Crimes
What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation
Ability to make a difference and lasting impact
Work in a dynamic, collaborative, progressive, and high-performing team
JOB SUMMARY City: Toronto Address: 20 King St. West Work Hours/Week: 37.5 Work Environment: Office Employment Type: Permanent Career Level: Senior Manager/Director Pay Type: Salary + Variable Bonus Position Level: PL06 Required Travel(%): 0-25 Exempt/Non-Exempt: N/A People Manager: Yes Application Deadline: 11/11/2019 Req ID: 201525