Job descriptionOverview: The Analyst/Associate is responsible for assisting the AML Director to conduct key AML & Sanctions Compliance tasks. SMBC Canada Branch (“Branch”) shall comply with all laws, rules, regulations and regulatory guidelines, as well as SMBC Head Office directives. The Analyst/Associate will provide analytical, advisory and administrative support to the AML Director in the execution of selected activities in support of SMBC’s Regulatory Compliance Management program, with a focus on implementing Sanctions Screening and AML Transaction Monitoring controls, including their related policies and procedures across all business lines. In addition, the incumbent will lead the preparation of periodic and ad hoc AML/ATF reporting to the Regulators, such as OSFI and FINTRAC, under the supervision of the AML Director. Responsibilities: AML/ATF & Economic Sanction Screening
- Conduct sanctions screening of all clients and their affiliated parties against the applicable
- Review and analyze payment transactions to ensure transactions are not prohibited by the
- Work collaboratively with cross functional partners to leverage tools and functionality to
- Verify that all sanctions watchlists are properly updated and loaded in the sanctions screening system.
- Document the AML/ATF sanctions screening processes and procedures to align with the latest practices.
- Identify emerging regulatory changes (relating to sanctions and transaction monitoring) and potential impacts on SMBC Canada. Recommend appropriate risk mitigation measures as well as operational controls in accordance with SMBC policies and/or regulatory requirements to the AML Director;
- Manage the branch’s transaction monitoring program - enhancements of the system,
system; Identify improvement opportunities regarding key processes for internal controls.
- Monitor customer transaction activities to identify potentially suspicious activity promptly,
- Conduct and communicate RFI's (Request for Information) with vendors, relationship managers and overseas offices. Document requirements in concise, detailed, and accurate manner.
- Audit issue remediation – Work closely with compliance management and auditors to
Regulatory Reporting relating to AML/ATF and Sanctions
- Support FINTRAC reporting process of SWIFT and non-SWIFT electronic funds transfers (EFTs).
- Support all aspects of regulatory reporting to FINTRAC via web reporting system including
- Draft regulatory reports to OSFI, timely filing via Regulatory Reporting System (RRS) after
AML & Sanctions Operations Quality Assurance (QA) Responsibilities
- Support annual reviews of the sanctions screening tool and transaction monitoring tool.
- Conduct and monitor the performance of the Navaera system for EFT reporting to FINTRAC.
- Coordinate the drafting and submission of Internal SMBC reporting.
- Assist In-office Inspections and AML & Sanctions self-assessments, as required.
- Other duties as assigned by the AML Director.
Liaise with other SMBC, Canada Branch departments as well as other Head Office and Americas Division
business/functional partners (as needed).
- Bachelor’s degree in business, law or other related subjects is a “must”.
- Minimum of 4 years related experience in a AML and/or Sanctions function within regulated financial services is a “must”.
- Basic knowledge of the AML/ATF and Sanctions legislation, regulations and guidelines;
- Excellent time management skills with the ability to multi-task, continuously prioritize
- Strong analytical and communication skills. Attention to details.
- Advanced skill in the use of Microsoft Word, Excel, PowerPoint, Outlook and experience with on-line research systems (e.g. WorldCheck).
- Knowledge of FircoSoft is preferred.
Time pressure/deadlines and mental stress - Considerable
Stress of multiple demands - Considerable
Attention to details - Considerable
Environment – Hybrid – in office and remote
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