Global Financial Crimes – Canada Sanctions
2 weeks ago
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The GFC Canada Sanctions Director, is responsible for executing substantive economic sanctions compliance and operational risk practices related to providing direction in Canada in any Sanctions related matters requiring input and for assisting Global Economic Sanctions (GES) executives with the Risk Assessment program in alignment with the GFC Enterprise Policy, Standard, and Risk Assessment Methodology.
The GFC Canada Sanctions Director will establish and maintain strong relationships with key stakeholders within the Front Line Units (FLUs) and Control Functions (CFs), Global Financial Crimes (GFC) risk executives and managers, and internal audit using effective influence skills; interaction with local and international regulators is also within this role execution.
**Responsibilities**
- Review and decision transactions for potential sanctions issues and perform research on transactions stopped on the firm's sanctions screening systems, as required. Monitor the changes in sanctions regulations, including advising business leaders, directing the appropriate areas to implement or amend procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed.
- Participate in sanction industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation, and key influencers to identify and mitigate emerging risks.
- Oversee or execute, as applicable, the submission of Canada Sanctions-related regulatory reports.
- Provide expert advice and counsel to FLUs/CFs in Sanctions related matters (transactions, product development, etc.)
- Responsible for undertaking targeted risk assessments from a Sanctions standpoint for Canada and more broadly.
- Leverage available data and analytical tools during the planning, execution, and oversight of the sanctions risk assessment process.
- Advise and direct the development and maintenance of local GFC-owned Sanctions related procedures, training, and other required documentation, and review relevant FLUs/CF-owned policies and standards to ensure that sanctions regulatory requirements and existing risks are appropriately addressed.
- Produce and/or oversee independent sanctions risk management reporting.
- Escalate Sanctions related compliance and operational risks and issues to appropriate governance routines, management/board level committees.
- Challenge the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to sanctions.
- Assist in preparing materials and deliverables for sanctions related to regulatory exams/audits/inquiries.
- Support the wider GES team and GES executives on other Sanctions matters as and when required.
**Required Skills**:
- The successful candid will have prior experience in supporting a financial crimes program in Canada from a Sanctions standpoint and experience in risk management, as well as a good understanding of second line of defence coverage activities inclusive of risk assessments, monitoring, testing and/or quality assurance processes.
- Experience understanding payments.
- Experience and interest in drafting targeted risk assessments for countries, legal booking entities (not client level risk assessments) and products.
- Solid understanding of the Canadian financial sector and any experience in regulatory interactions is valuable.
- Ability to synthesize laws, rules, and regulations into practice to provide clear and straightforward guidance.
- Exceeding verbal and written communication skills.
- Be comfortable with fast paced decision making and with working with multiple international stakeholders, and cross-group collaboration.
**Qualifications**
- Degree required: bachelor’s degree or equivalent experience.
- 7+ years of relevant experience in BSA / AML, Sanctions, and/or Fraud compliance, including Operations-related support functions.
- Proficiency with MS Office pro
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