AML Advisor & Software Coordinator

VersaBank • London, ON

4d • Onsite

About The Position

VersaBank is seeking an AML Advisor & Software Coordinator to join their Anti-Money Laundering (AML) team. This is a full-time, in-office role located in London, Ontario. The role involves supporting the Bank’s AML compliance program, ensuring adherence to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), Bank Secrecy Act (BSA), and other relevant AML regulations. The position also contributes to AML operations, regulatory compliance, system administration, and process improvement. A key responsibility is the administration, optimization, and enhancement of the Bank’s AML monitoring system (Datasoft).

Requirements

• Post-secondary education in Business, Finance, Criminology, Law, or a related field, or an equivalent combination of education and relevant professional experience.
• Minimum 2 years of experience in banking, financial services, compliance, fraud prevention, or AML operations.
• Working knowledge of applicable AML/ATF regulatory requirements, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), FINTRAC guidance, OSFI expectations, and U.S. regulatory requirements such as BSA/AML and OFAC sanctions.
• Experience conducting transaction monitoring, alert reviews, investigations, and customer due diligence using AML and fraud detection systems.
• Proficient in Microsoft Office applications, particularly Excel, Word, and Outlook.
• Strong analytical and critical thinking skills with the ability to identify trends, investigate complex issues, and recommend appropriate actions.
• Excellent organizational and time management skills, with the ability to prioritize competing demands and meet established deadlines.
• Effective verbal and written communication skills, with the ability to collaborate and build relationships across all levels of the organization.
• High degree of accuracy and attention to detail in a regulatory and compliance-focused environment.
• Demonstrated ability to interpret regulatory requirements and apply them to operational processes and controls.

Nice To Haves

• Professional AML-related certifications (e.g., CAMS, CFCS, or equivalent) are considered an asset.
• Experience supporting AML compliance initiatives related to system implementations, process improvements, or regulatory change management is considered an asset.

Responsibilities

• Assist with the automation and optimization of AML processes.
• Analyze AML alerts generated by software systems, AML reports, staff submissions, etc., ensuring compliance with PCMLTFA and other relevant regulations.
• Perform ongoing control testing, data validation, mapping, and data quality assurance activities.
• Participate in annual risk assessment analysis, system tuning, and monitoring program needs.
• Support AML compliance during audits and examinations.
• Propose process improvements based on regulatory requirements.
• Review and escalate AML alerts for filing Suspicious Transaction Reports (STR) as per regulatory requirements.
• Assist in regulatory report filings such as LCTR (Large Cash Transaction Report), STR, and EFT (Electronic Funds Transfer) filing.
• Support the transition of AML processes to automated systems by managing data migration, developing and maintaining smart forms with Datasoft, coordinating data integration and bulk uploads with IT, enhancing risk rating frameworks, and producing reports to support AML monitoring, management, and regulatory requirements.
• Actively participate in team meetings, committees, and project plans.
• Support ongoing regulatory research, policy review, and procedure updates.

Benefits

• A positive team-based work atmosphere that promotes collaboration and career advancement.
• Competitive compensation package including base salary, an incentive award and pension supplement program.
• An outstanding benefit program.
• Tuition refund program.
• Fitness club membership.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree