Senior Analyst, Financial Crimes - Rfa Bank Of Canada

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
Reporting to the Manager of Financial Crimes operations, the Senior Analyst will be responsible for promoting a culture of compliance by executing the Bank’s compliance strategy as defined in the CAMLO mandate. The primary responsibilities of this role include the evaluation of AML/ATF risk through analysis, monitoring, investigation and reporting of all aspects of the AML/ATF framework.
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 onboarding and ongoing monitoring activities.
• Consistently adhere to approved procedures and processes to identify, investigate and report on suspicious activity and proactively react when issues arise;
• Review results of name-screening and transaction monitoring escalations from outsourced partners to ensure quality standards are met.
• Conduct investigations using Verafin, World Check/Dow Jones and open-source searches to gather evidence supporting a reasonable suspicion of money laundering or terrorist financing activities involving the Bank’s customers from initial detection to disposition.
• Draft and submit Suspicious Transaction Report with FINTRAC.
• 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.
• Provide guidance to internal and external partners regarding questions specific to compliance with anti-money laundering regulations and obligations.
• Communicate effectively and efficiently within the AML team and with other departments e.g., Credit, Customer Service etc.
• Maintain professional and courteous demeanor when contacting other employees and requesting information as necessary.

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
• Minimum 2+ years’ experience within AML/ATF Compliance
• Certified Anti-Money Laundering Specialists (ACAMS) Designation, or enrolment, is preferred.
• Bachelor’s Degree Preferred

Benefits of Working at RFA:

• Health & Dental Care
• Vision Care
• RRSP Match
• Vacation & Personal Days
• Hybrid working conditions.

Are you the Right Candidate?

• 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

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.