Analyst, Financial Crimes

2 months ago

Toronto, Canada RFA Bank of Canada, RFA Mortgages Corp. Full time

RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending). Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.
RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.
The Opportunity
Core Responsibilities
Complete Customer Risk Reviews and Alerts based on priority ensuring Bank procedures are adhered to in all day-to-day transactions, including onboarding and enhanced monitoring as assigned by the management within the timelines set out in the departments SLA’s. Specific responsibilities include:

- Develop and maintain a thorough understanding of the requirements of internal procedures and external regulations related to the AML Framework, particularly related to on boarding activities.
- Strongly adhere to existing procedures and controls in place and pro-actively react when foreseeing issues; ensure that checklist, job aids and system changes are consistently followed.
- Maintain professional and courteous demeanor when contacting other employees and requesting information as necessary.
- Follow approved documented processes to analyze information provided by other Bank employees or Servicers to identify suspicious activity or transactions.
- Conduct investigations using Verafin, World Check and open-source searches to gather evidence supporting a reasonable suspicion of money laundering, terrorist financing or tax evasion activities involving the Bank’s customers from initial detection to disposition.
- Utilize additional systems, tools and where required contact other department employees to develop a detailed case to objectively conclude if the activity in question is suspicious.
- Write report summaries to clearly articulate the activity being reported, the conclusions drawn and the supporting reasoning.
- Communicate effectively and efficiently within the AML team and with other departments e.g. Credit, Customer Service etc.
- Monitor the ongoing effectiveness of the AML Framework as the business and environment evolve and change, identifying exposures, gaps and/or trends and making recommendations for adjustments to management to address.
- Maintain an up-to-date understanding of money laundering and terrorist financing issues, including policies, procedures, legislation and regulations, industry best practice, criminal typologies and developing trends.
- Perform other responsibilities and assist with special projects, as required.

Regulatory and Compliance
- Complete all regulatory and compliance and risk management training.
- Comply with requirements as set by the Compliance function and external regulatory bodies in all instances.
- Act in accordance with the company’s Board-approved risk appetite and tolerance for risk in all instances.
- Maintain an up-to-date understanding of the changing regulatory environment and industry best practices to inform changes to processes and procedures that will support the HRU in meeting its requirements and will provide information on trends and changing conditions.

**What you can bring to RFA**:

- 3+ years’ experience in financial industry
- Bachelor’s Degree Preferred

**Benefits of Working at RFA**:

- Health & Dental Care
- Vision Care
- RRSP Match
- Vacation & Personal Days
- Hybrid working conditions.
- Timely managing multiple priorities while maintaining a high level of quality on all deliverables
- Good understanding of AML/ATF issues, specifically previous experience with alert and transaction monitoring activities
- Advanced Microsoft Office Suite (Word, Excel, etc.) skills. Technical background with prior experience in creating and using macros and pivot tables is highly desirable for this role
- Strong analytical skills required to organize and analyze multiple, complex data sets
- Strong communication skills (verbal and written)
- Self-starter with the ability to work with minimum supervision.
- Self-starter with the ability to work with minimum supervision.

Accessibility
Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.

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