AML QA & RCM Testing Manager

Exchange Bank of Canada (EBC) is a Schedule 1 bank headquartered in Toronto, Canada.

Discover the opportunity to join an international, dynamic, and responsible bank that fosters the development of all its employees. Every day, we empower employees to achieve more. As we are a new bank in Canada, each employee is given a unique experience and great opportunities for career growth.

As a specialist in wholesale foreign exchange services, EBC provides a wide range of foreign currency exchange and international payment services to financial institutions and corporations tailored to streamline processes and delivered with unparalleled customer service. To learn more, visit our website at: EBC Website.

Our Value Statement: We help our clients identify and create foreign exchange solutions, delivering a best practices approach through unparalleled customer service and integrated technology to create significant financial and operational efficiencies.

Our Values:

• Customer First - We earn the right to be our clients’ first choice.
• Integrity - We hold ourselves to the highest standard to build trust.
• Collaborative - We always win as a team.
• Innovative - We find new methods to deliver change and advance technology to the industry.
• Passionate - We are driven to be the best in class.

Exchange Bank of Canada is seeking a driven professional, with strong attention to detail to join their team as an AML QA & RCM Testing Manager!

Role Purpose:

The AML QA & RCM Testing Manager will work closely with the Anti-Money Laundering and Anti-Terrorist Financing (collectively referred to as “AML”) Compliance Team and the Regulatory Compliance Team. The AML & RCM Testing Manager is responsible for testing, quality assurance, and assisting with monitoring and reporting on the quality of Exchange Bank of Canada’s (“EBC’s” or the “Bank’s”) AML processes and controls alongside the AML & RCM Senior Manager (“Senior AML Manager”). The incumbent will assist the Senior AML Manager in ensuring adherence with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, OSFI guidelines, and other AML related requirements (“Regulatory Requirements”) applicable to the Bank. The incumbent will be involved in successful application of monitoring, testing, and reporting that contributes to the CAMLO’s reporting on the overall status of EBC’s AML Compliance program. The incumbent will also work closely with the Senior Manager RCM to assist with and manage the Regulatory Compliance Management (RCM) program, monitoring of regulatory developments, the maintenance and updating of policies, procedures and compliance systems, testing and monitoring programs for the bank, regular reporting to Senior Management, the timely escalation of material compliance concerns and providing expert compliance advice to the Bank.

Essential Functions:

• Responsible for developing, managing, and executing QA testing and monitoring plans that align with the Bank’s AML Compliance Program.
• Perform QA testing, monitoring, and reporting on AML processes controls to ensure adherence with applicable Regulatory Requirements and are within the Bank’s Board-approved Risk Appetite Framework.
• Assist with monitoring regulatory and industry developments to ensure that the AML Compliance program remains current and adequate.
• Assist the Senior AML Manager with developing, maintaining, and implementing internal/self-assessments of inherent risks specific to the Bank’s business activities.
• Assist with completing ongoing reviews and internal audits.
• Assist the Senior Manager and CAMLO with the preparation of reports to the Bank’s senior management respecting the adequacy of the business area’s adherence to Regulatory Requirements and the Bank’s overall RCM Framework.
• Such other tasks that may be assigned and/or delegated by the Senior AML Manager and/or the CAMLO from time to time.
• Manage and maintain the Bank’s RCM Framework, which includes the policy and procedures for ensuring regulatory compliance, including the AML/ATF program.
• Manage and execute the annual Regulatory Risk Assessment together with the Senior Management of the Bank.
• Assist the CCO and Senior Management (as applicable) in identifying, assessing, monitoring, and reporting on regulatory compliance risk, in accordance with the RCM Framework.
• Assist the Senior Manager AML & RCM with compliance testing and the monitoring program regarding applicable regulatory requirements, including testing the functionality and efficiency of, and adherence to established policies and controls to mitigate Regulatory Compliance Risks.
• Assist the Senior Management in reporting on the status of the Bank’s compliance, new regulatory requirements, compliance issues and action plans, and the Bank’s compliance with the RCM Policy and RCM Framework.
• Input and maintenance of risk rating, and results of the Monitoring and Testing program in the Bank’s GRC tool, Ethidex, including deriving relevant Senior management and Board reporting data.
• All other duties as assigned by the CCO and CAMLO.

Required Education and Experience:

• Bachelor’s Degree or equivalent combination of education and/or experience.
• Minimum of 5 years of AML and at least 2 years of RCM experience.
• Minimum of 3 years with Manager-level responsibilities.
• Prior experience in QA testing, Internal Audit, and/or regulatory reviews.
• Analytical and has the ability to provide practical solutions and prioritize a diverse workload with multiple deadlines.
• Highly flexible and detail-oriented with the ability to multi-task and change directions based on business demands.
• Work smart by managing multiple priorities with strict deadlines.
• Have a passion for ensuring the accuracy of record keeping and reporting to mitigate risk.