Customer Onboarding Specialist, Small Business Banking

EQ Bank | Equitable BankToronto, ON, Canada

1 day ago

Job type

Full-time

Job description

We are seeking a detail-oriented and proactive Customer Onboarding Specialist to join our growing AML operations team. In this role, you will be responsible for conducting thorough due diligence reviews of clients at on-boarding to ensure compliance with internal AML requirements. You will play a crucial part in identifying potential money laundering risks, escalating suspicious activity, and supporting the company's efforts to maintain a strong anti-money laundering (AML) program.

The ideal candidate will have a strong understanding of AML regulations, excellent analytical skills, and the ability to make sound decisions in a fast-paced and dynamic environment.

The Work !

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) : Conduct CDD and EDD on clients and transactions to assess the risk of money laundering or other financial crimes. Perform open-source search checks, analyze customer information including documentation, and verify sources of funds as necessary
Risk Assessment : Evaluate and categorize clients based on risk factors, such as geographical location, industry, and customer profile according to internal risk scoring methodology and guidance. Maintain up-to-date records of risk assessments and adjust them as necessary
Escalate Suspicious Activity : Review and analyze money laundering, terrorist financing and sanctions evasion red flags and potential suspicious activity that may require further investigation by the AML Compliance team
Regulatory Compliance : Stay current with evolving AML regulations and industry best practices. Ensure that the company’s AML due diligence procedures and controls comply with internal AML requirements
Reporting and Documentation : Maintain comprehensive records of all due diligence activities, client interactions, and investigative reports. Prepare reports and provide recommendations for internal audits and regulatory inspections
Collaboration : Work closely with other departments, such as legal, operations, and risk management, to ensure a cohesive approach to anti-money laundering efforts. Provide guidance and training to staff on AML procedures and policies
Continuous Improvement :
Contribute to the enhancement of the AML compliance program by identifying inefficiencies and recommending improvements to policies, procedures, and systems

Let's Talk About You !

Education : Bachelor’s degree in Finance, Accounting, Business, Criminal Justice, or a related field. AML or compliance certifications (e.g., ACAMS, ICA, or similar) are a plus

Experience : At least 2 years of experience in an AML compliance or due diligence role, preferably within the financial services industry (banking, insurance, fintech, etc.)

Knowledge : Working knowledge of regulatory requirements for AML / ATF and sanction risk, industry best practices and / or organizational goals for AML / ATF typologies; essential)

Skills :

Excellent analytical and investigative skills, with the ability to assess complex data and identify risks

Strong attention to detail and accuracy in documentation and reporting

Ability to work independently and manage multiple priorities under pressure

Proficient in the use of AML software and databases

Strong written and verbal communication skills, with the ability to clearly articulate findings and recommendations

Advanced Excel skills specifically ability to create macros and v-lookups

Ability to organise and compile data to produce metric reports;

Strong organizational skills, demonstrates ability to prioritize assignments, projects and multi-task within restricted time constraints;

Additional Attributes :

High ethical standards and the ability to maintain confidentiality

Problem-solving mindset with a proactive approach to compliance issues

Ability to adapt to evolving regulations and organizational needs

Preferred Qualifications :

Experience with sanctions and politically exposed persons (PEPs)

Knowledge of data privacy regulations and how they intersect with AML compliance

Familiarity with transaction monitoring systems, screening tools, and other compliance software platforms

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Customer Onboarding Specialist, Small Business Banking • Toronto, ON, Canada