Description:
CIBC is seeking a talented AML Transaction Monitoring Specialist to join the Portfolio Risk Management (PRM) team within Global Transaction Banking (GTB). This role involves first-line AML transaction monitoring for Correspondent Banking and Corporate Banking clients, ensuring compliance with AML regulations and mitigating financial risks. The successful candidate will be responsible for investigating transactional activities, detecting suspicious trends, and supporting risk assessments to uphold CIBC’s compliance framework.
Key Responsibilities:
- AML Program Administration: Oversee AML compliance for Correspondent Banking, ensuring adherence to bank policies, risk appetite statements, and regulatory requirements.
- Transaction Monitoring Oversight: Conduct ongoing reviews of financial transactions to identify unusual activities, ensuring alignment with Know-Your-Client (KYC) profiles.
- Compliance & Risk Management: Support compliance calls related to high-risk industries, payment structures, and transaction flows.
- Regulatory Monitoring: Stay updated on evolving AML/Anti-Terrorist Financing (ATF) laws, OSFI & FINTRAC guidelines, and industry trends.
- Client Risk Assessments: Perform monthly, annual, and ad hoc risk reviews of client payment activity to assess compliance risks.
- Investigation & Reporting: Issue Requests for Information (RFIs) and Unusual Transaction Reports (UTRs) as needed, documenting findings effectively.
- Collaboration & Strategy: Work closely with Relationship Managers, Compliance Teams, and Enterprise AML (EAML) to drive risk mitigation strategies.
- Process Optimization: Identify and implement improvements in transaction monitoring procedures and risk assessment methodologies.
Candidate Requirements:
- Minimum 7 years of experience in AML, Transaction Monitoring, and KYC.
- Undergraduate degree in a relevant field (Finance, Business, Law, or related disciplines).
- Strong knowledge of AML regulations, Correspondent Banking, SWIFT payments, and OSFI/FINTRAC guidelines.
- Experience with investigative techniques, transaction analysis, and risk assessment.
- Strong problem-solving, analytical, and critical-thinking skills.
- Excellent communication skills (written and verbal) with the ability to present findings clearly.
- Ability to manage multiple priorities, meet deadlines, and work under pressure.
- ACAMS or other AML-related certification (e.g., ACFCS) is highly preferred.
- Team-oriented mindset with strong interpersonal skills to collaborate with internal and external stakeholders.
Perks & Benefits:
- Competitive salary with additional banking benefits
- Health & wellness programs including employee assistance
- Professional development opportunities to support career growth
- Recognition programs to reward contributions and achievements