AML Analyst

Career Opportunity

Role Title

AML Analyst

Purpose of role

This position is responsible for supporting the management of AML/ATF activities for Foresters Financial in North America to ensure the program is effectively meeting regulatory requirements. This role will be responsible for initial reviews of escalated transactions, completion of risk assessments and testing of key controls. The position will also support continuous improvement of Foresters Financial’s North American AML/ATF program

Job Description

Key Responsibilities

• Thoroughly review and investigate AML/ATF alerts generated by our monitoring systems.
• Conduct daily transactional analysis to identify potential high-risk activities.
• Review and assess client risk, ensuring compliance with AML regulations
• Analyze and assess escalated potential suspicious activity on a timely basis
• Draft comprehensive case reports for review
• Ensure regulatory reporting is conducted in a timely manner while adhering to regulatory requirements and internal controls
• Monitor upcoming regulatory changes through industry groups and government communications.
• Assess changes in AML/ATF requirements that are tracked in Foresters RCM tool.
• Identify and communicate AML/ATF requirements to impacted stakeholders
• Support the development and maintenance of AML/ATF-related policies, procedures, and controls
• Develop productive working relationships with internal and external partners/stakeholders
• Provide advice and guidance to business units for compliance with legislation and internal policies and procedures, following a risk-based approach
• Coordinate risk assessments of products, geographic risk, new developments and technologies, as required to assist business areas in effectively managing AML/ATF risks
• Communicate and work with business units to address inquiries regarding Foresters AML/ATF policies and procedures
• Conduct testing of key AML/ATF controls, providing recommendations to management regarding suitability of AML/ATF controls within processes at Foresters Financial
• Work with business units to ensure prompt mediation of any identified AML/ATF issues, in line with policy and regulatory requirements
• Develop and conduct training on AML/ATF matters, including specialized training as required
• Participate in the creation of ad hoc reports and written communication as well as regular monthly/quarterly reporting of AML/ATF activities and trends/issues identified.
• Assist in the planning and coordination of AML-related projects
• Keep current on emerging trends/ developments and grow knowledge of the business, related tools and techniques
• Work independently on a range of complex tasks, which may include unique situations
• Broader work or accountabilities may be assigned as needed

Key Qualifications

• 4-6 years of relevant experience and post-secondary education in related field of study or an equivalent combination of education and experience
• Working/in-depth knowledge of financial crime risk management practices
• Working knowledge of US and Canadian regulatory requirements for AML/ATF and sanction risk, industry best practices
• Experience with risk policy frameworks; quality control/ testing frameworks
• Advanced Excel skills
• Strong analytical and technical data mining skills
• Excellent organizational and interpersonal skills, displaying a high degree of independence and initiative
• Ability to prioritize assignments, projects, and multi-task within restricted time constraints
• Effective verbal and written communication skills
• Demonstrated strong problem solving and analytical skills
• Life insurance/annuity product knowledge an asset
• AML designation (CAMS) is preferred

#LI-Hybrid

Equal Opportunity Employment and Inclusion – at Foresters Financial, we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion, Diversity and Equity (IDE) as a core strategic objective for building strong, innovative teams in which all our employees can show up wholly and authentically as themselves.

Foresters Financial strives to provide an accessible candidate experience for prospective employees with different abilities. If you anticipate needing any type of accommodations during the recruitment process, please email [email protected] in advance of your appointment.

Thank you for choosing Foresters. Only those candidates who will be selected for further consideration will be contacted by our Talent Acquisition Team.