FAQs
What is the primary responsibility of the AVP in this role?
The primary responsibility of the AVP is to oversee the AML Governance & Controls Function, specifically managing the Enterprise Financial Crimes Risk Management Governance and Control program, which includes various types of financial crime risks.
To whom does the AVP report?
The AVP reports to the Deputy Global AML Officer.
What types of risks does the AVP manage within the Governance & Controls function?
The AVP manages various risk types including strategic risk, operational risk, model risk, reputational risk, privacy risk, regulatory compliance risk, and change initiatives.
What role does the AVP play in issues management?
The AVP owns issues management by challenging action plans, monitoring the timely completion of issues, reviewing and challenging solutions, and preparing complete and accurate reports for various stakeholders.
How does the AVP contribute to the anti-money laundering (AML) and sanctions compliance within the organization?
The AVP develops and owns the requirements for oversight of AML, sanctions, and anti-bribery and corruption compliance by first-line governance and control functions in line with the Banks Governance and Control Standard.
What qualifications are necessary for this position?
The position requires deep expertise in Anti Money Laundering, Anti-Terrorist Financing, and Sanctions, along with strong risk acumen, communication skills, leadership abilities, and knowledge of the AML regulatory environment in Canada.
What educational background is preferred for the AVP position?
An undergraduate degree is required, while a post-graduate degree is preferred.
How important is collaboration and communication in this role?
Collaboration and communication are extremely important as the AVP must engage with colleagues, business partners, and external stakeholders effectively, balance stakeholder input, and communicate at the Board level.
What kind of leadership skills are expected from the AVP?
The AVP is expected to be a strong people leader who can manage and motivate a diverse team, align teams towards a central vision, and influence and collaborate with multiple stakeholders across the bank.
What approach does the AVP take towards continuous improvement?
The AVP fosters a continuous improvement mindset by proposing enhancements to the program informed by industry trends and best practices, while proactively anticipating emerging obstacles and removing barriers to achieve program goals.
What is meant by 'working in ambiguity' in the job description?
'Working in ambiguity' refers to the ability to navigate and address complex issues and uncertainties effectively while maintaining a strong work ethic and executing tasks swiftly.