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Manager, AML Investigation Support

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RBC

3d ago

  • Job
    Full-time
    Mid & Senior Level
  • Legal
    Banking & Finance
  • Toronto
  • 16d left

AI generated summary

  • You should have experience in financial crime investigations, strong Excel skills, an undergraduate degree, analytical abilities, and a CAMS designation.
  • You will conduct risk-based AML investigations, assess client activities, handle alerts, review escalations, and contribute to process improvements while ensuring compliance and documentation.

Requirements

  • Experience in financial crime and/or money laundering investigations within banking, law enforcement, or a regulatory body preferred.
  • Experience with Microsoft Excel.
  • Undergraduate university degree or equivalent.
  • Strong written and analytical skills.
  • CAMS designation.

Responsibilities

  • Planning, conducting, and completing risk based investigations into matters referred to the Team, through the gathering, analysis, and evaluation of relevant information in order to determine whether sufficient suspicion exists of money laundering, financing of terrorism, or other criminal activities, to justify making a report to the Regulatory Authority for the purpose of complying with legislative/regulatory requirements, and mitigating risk to RBC in line with established organizational policy.
  • Conducting end-to-end investigations from the initial alert review to the filing of STRs to FINTRAC for the Post Demarket STR process, Fraud Straight Through Processing (STP) workflow, and referrals from RBC’s Corporate Investigations Services (CIS) for specific fraud typologies.
  • Taking decisive action on alerts and cases which require some form of diligence beyond the mandate of the GAMLAAT and which do not require the involvement of AML Investigations (i.e. there is no deemed reporting requirement).
  • Reviewing case escalations and/or TRM alerts to assess the client activity against a pre-determined risk appetite and determines if the case/alert warrants further AML Investigation, Cease & Desist letters, Account Closure or Demarket while documenting the approach accordingly.
  • Contribute to the growth and continued development of the Post Demarket STR Process and Fraud STP workflow.
  • Plan, conduct, and complete risk-based investigations into relevant matters referred to the Team, in line with approved processes, including but not limited to those originating from:
  • Referrals from internal partners and other business units where suspicious activity appears to have continued following an initial suspicious transaction report (STR) until the termination of a client relationship.
  • Referrals from RBC’s CIS and NFDG on specific fraud-related typologies.
  • Other required STRs that may fall within the AMLIST’s scope.
  • Conduct risk-based reviews of AML transaction monitoring alerts or cases for all applicable business lines in accordance with AMLIST standards to (a) escalate potentially suspicious activity for further review; (b) identify scenarios applicable for the Level Two Triage Process and execute said process; or (c) close false positives.
  • Ensure alerts & cases contain sufficient documentation and rationale for escalation, L2 action or closure to support initial triage of the activity and mitigate risk to RBC.
  • Review and action escalations from GAMLAAT, AML Investigations, HRC and other teams within RBC’s AML FIU for workflows including but not limited to Punitive Account Violations (such as BTP and ULRG typologies), Know Your Client Deficiency (KYCD), Iran MD LCTR reviews, and HRC Account Closures.
  • Advise/escalate to Senior Manager any trends or issues and take action to propose improvements to workflow, processes and tools.
  • Fulfill annual compliance training hour requirements.
  • Active participation in RBC Reward & Recognition programs and Employee Opinion Survey and results.
  • Promote a values-based, respectful, flexible, and inclusive workplace; embrace diverse styles and perspectives.

FAQs

What does the AML Investigation Support Team (AMLIST) do?

The AMLIST plays a crucial role in executing workflows related to anti-money laundering investigations, including planning, conducting, and completing risk-based investigations into suspicious activities and compliance with regulatory requirements.

What qualifications are required for this position?

A strong candidate should have experience in financial crime and/or money laundering investigations, proficiency with Microsoft Excel, an undergraduate degree or equivalent, and strong written and analytical skills.

Is a CAMS designation necessary for this job?

No, a CAMS designation is not mandatory, but it is considered a nice-to-have qualification.

What types of investigations will the Manager, AML Investigation Support be responsible for?

The manager will conduct risk-based investigations into referrals related to money laundering, financing of terrorism, and other criminal activities, as well as manage workflows involving suspicious transactions and fraud typologies.

What is the work environment like in this position?

The role is dynamic and collaborative, involving work within a high-performing team that values progressive thinking and inclusivity.

What benefits are offered to employees in this role?

Employees receive a comprehensive Total Rewards Program that includes bonuses, flexible benefits, competitive compensation, and opportunities for professional growth.

How many hours a week will the employee work?

The position requires a commitment of 37.5 hours per week.

Where is the job located?

The job is located at 20 King St W, Toronto, Canada.

What is the application deadline for this position?

The application deadline is November 18, 2024.

Does RBC support diversity and inclusion?

Yes, RBC is committed to embracing diversity and inclusion for innovation and growth, striving to build equitable workplaces for all employees.

Will there be training opportunities available?

Yes, annual compliance training is required as part of the role, providing opportunities for continuous learning and development.

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