Associate, Global Transaction Banking

6 months ago

Toronto, Canada CIBC Full time

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.

At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

To learn more about CIBC, please visit

What you'll be doing

The Portfolio Risk Management (PRM) team within Global Transaction Banking (GTB) is responsible for the first line Anti-Money Laundering (AML) Program for Correspondent Banking and Corporate Banking clients and includes a Transaction Monitoring team and a Due Diligence team. Within PRM, the first-line Transaction Monitoring team is responsible for conducting ongoing reviews of transaction activities to ensure alignment with the overall client Due Diligence/Know-Your-Client portfolio, assess key trends observed, and identify and determine whether requests for information and/or unusual activity reports are required. The Transaction Monitoring group performs monthly and ad hoc assessments of activity that form part of the KYC client profile. Together with the Due Diligence team, the Transaction Monitoring team partners closely with internal stakeholders including GTB Relationship Managers, Global Money Operations, Payment Teams, and Enterprise Anti-Money Laundering (EAML) to ensure best AML practices are followed.

As a member of the GTB Portfolio Risk Management team, you will have the opportunity to contribute to the successful execution of CIBC’s Enterprise AML framework as it relates to GTB’s correspondent banking clients.
- At CIBC we enable the work environment most optimal for you to thrive in your role. _Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview._

How you'll succeed- Review and Assessment - Assist ongoing review and assessment of transaction activity related to Correspondent Banking clients- KYC & Transaction Validation - Assess and validate transaction activity with the objective of highlighting higher risk trends, benchmarking activity against KYC data points and documenting any changes in overall transaction activity- Risk mitigation - Identify risks to CIBC under purview of transaction monitoring to effectively mitigate risk to CIBC. Investigate any potential risk-related concerns through analysis, research, and issuance of Requests for Information (RFIs) or Unusual Transaction Reports (UTRs) as appropriate- RFI and reporting - Initiate RFIs where appropriate, ensuring timely response, adjudication and reporting of activity identified- Transaction Monitoring - Maintain and document transaction monitoring records. Ensure transaction monitoring records are of high quality, with detailed findings that clearly communicate results of trends (high risk trends, benchmarking etc) and observations. Ensure assessments and reports are complete, accurate, and completed according to SLAs- Recommendations - Make high quality risk-based recommendations to support client relationships that stand up to scrutiny by business personnel, compliance, internal/external audit and regulators. Prepare written reports with recommendations to assist in effectively responding to higher risk activity and/or trends identified

Who you are- You have an undergraduate degree in a relevant discipline- You’re a certified professional. ACAMS/other AML-related credentials (ACFCS, etc.) considered an asset- You can demonstrate a minimum of 1 - 3 years of AML experience including understanding of AML technical terms and concepts. Prior research experience, in any capacity will be preferred- You possess knowledge of AML regulations and FATF guidance along with ability to gather, analyze, organize, document and present large volumes of information in a succinct and organized manner. Knowledge of SWIFT payments and message types would be preferred- You act like an owner. Solid organizational, planning, and time management skills with ability to multi task, gather, organize and interpret data and formulate preliminary conclusions- You possess strong critical thinking. Ability to demonstrate a good understanding and judgement of risk, particularly compliance/AML risk- You can demonstrate excellent written and verbal communication skills to properly communicate recommendations- You are technically savvy. Strong Microsoft Office Suite skills is a must- Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability

What CIBC Offers

At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential.- We work to recognize you in meaningful, personalized ways including a competitive compensation, a banking benefit*, wellbeing support and additional offers such as employee and famil

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