KYC Compliance Specialist

2 weeks ago

Toronto, Ontario, Canada SMBC Group Full time

Role Description

The position is primarily responsible for conducting key KYC/AML tasks, including customer onboardings, periodic reviews, and maintenance of customer information in Branch systems. The KYC Analyst will ensure continuous compliance with legal and regulatory requirements.

Key Accountabilities

  • Support Branch Front Office Teams in executing KYC, CDD, and EDD requirements for new and existing customers.
  • Maintain accurate and complete customer data in the KYC/Customer Information File System.
  • Ensure KYC/AML information is up-to-date based on documents received from clients or independently sourced.
  • Analyze and advise on KYC requirements for new and existing customers.
  • Perform adverse media, PEP, and sanctions screening of customer names and affiliated parties.
  • Circulate new customer onboarding information for Branch Management approval.
  • Conduct KYC periodic reviews and off-cycle reviews based on customer circumstances.
  • Adhere to the KYC Periodic Review schedule and escalate any issues promptly.
  • Review and adjudicate sanctions screening alerts for wire payments and customer transactions.
  • Support compliance-related projects and tasks as assigned.

File Management

  • Create and maintain an organized customer folder structure on a shared drive.
  • Assess corporate documents for KYC/AML compliance.
  • Assist administration teams with electronic filing of KYC/AML documentation.
  • Support the KYC Team's adherence to record retention requirements.

Customer Service & Outreach

  • Follow up on outstanding documentation requests with Front Office staff.
  • Respond to customer enquiries in a timely and accurate manner.

Training

  • Provide training and guidance to team members and branch staff on KYC/AML activities and procedures.
  • Report training needs to the Team Leader for assessment and action.
  • Complete cross-training for broader Corporate Compliance & AML Compliance activities.

Reporting & Metrics

  • Support the compilation, analysis, and reporting of recurring metrics and management reporting.
  • Prepare and circulate department reports internally.

Delegated Approvals

  • Complete relevant approvals for Department Head/Section Head when tasks within the KYC Team have been delegated.

Qualifications and Skills

Education:

  • Bachelor's degree in business, economics, or a similar major is required.

Experience:

  • Minimum 3 years of progressive experience in a KYC, compliance, and/or AML role, preferably from a federally regulated financial institution or regulator.
  • Preferably 2 years of experience in commercial/corporate banking.

Skills:

  • Working knowledge and experience in the operation of a Schedule III foreign bank branch.
  • Working knowledge of the Canadian AML legislation and regulations, as well as FINTRAC guidance with relevance to KYC/AML.
  • Good communication skills with a high level of written and oral communication.
  • Excellent organizational skills and ability to manage multiple projects at once.
  • Problem-solving and decision-making skills, with the ability to analyze and distill complex information.

Working Environment:

Time pressure/deadlines: Considerable

Stress of multiple demands: Considerable

Attention to details: Considerable

Environment: Hybrid – Open office and remote

About SMBC

SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at .

SMBC is an EO employer – M/F/Veteran/Disability

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