AML Specialist

Beem Credit Union

9d•Hybrid

About The Position

Beem is redefining what it means to be a credit union. With 80 years of cooperative history and a bold vision for the future, we’ve united to create a financial partner that offers both digital ease and people-first service. Our mission is clear: financial wellness for all. We help British Columbians achieve their goals through personalized advice, innovative technology, and genuine human connection. As one of BC’s largest credit unions, we serve over 200,000 members across 66 branches with $18 billion in assets under administration. If you’re passionate about making a difference and want to join a team that values collaboration, innovation, and purpose, join us on the journey. The Anti-Money Laundering ‘AML’ Specialist contributes to service excellence by developing and maintaining the overall risk-based compliance program. The AML Specialist will be responsible for implementing, supporting, and monitoring systems and processes related to AML, ATF and sanctions compliance and risk management to promote the safety, security and protection of members, staff, and credit union assets. As a subject matter expert the incumbent supports, provides guidance and advice as it relates to first line processes across teams and contributes to a superior member experience. This role is open to hybrid/remote working arrangements within British Columbia.

Requirements

Minimum 3-5 years’ experience in related compliance/regulatory role.
Sound knowledge and understanding of AML compliance and regulatory requirements, Risk Management, and Compliance practices and policies.
Experience working with FINTRAC regulations and reporting.
Experience with AML transaction monitoring and reporting systems.
Familiarity with Credit Union operations or financial institutions environments.
Equivalent combination of the above may be appropriate.

Nice To Haves

AML-related certifications such as CAMS or CAMLI designations are considered an asset.

Responsibilities

Proactively ensures daily compliance with the various legislations under which the credit union operates (Proceeds of Crime/Money Laundering, Terrorist Finance Act & Regulations)
Coordinates and maintains procedures related to regulatory compliance requirements and provides ongoing monitoring.
Acts as a key contact for FINTRAC.
Identifies and conducts analysis of inherent risks as it relates to Money Laundering activities.
Proactively reviews industry trends and regulatory changes/updates and providing recommendations for mitigation of controls.
Reviews and evaluates operational alerts and financial account activity identifying areas of non-compliance and recommends resolution ensuring overall Credit Union compliance.
Investigates incoming suspicious activity and potential watchlist matches.
Conducts review and analysis of reports related to FINTRAC such as Large Cash Transaction Reports, Suspicious Transaction Reports and Electronic Funds Transfer, Terrorist Financing, Annual Self-assessment Reports and other areas of supervisory and regulatory requirements
Transaction monitoring and analysis including risk determinations (UARs, STR alerts)
Reports on determinations including decisions on filing (i.e. STR decisions and filing)
Conducts reviews of member-related documentation, identifying high risk memberships and active monitoring to ensure compliance with the Credit Union’s policies.
Evaluates reports to identify activity patterns and operational trends as it relates to member activity, AML, Terrorist Financing, with the purpose of placing a critical review on the Credit Unions operations and identifying areas of exposures.
Coordinates the preparation of recurring compliance reporting and auditing requirements.
Conduct de-service/de-market assessments and providing related recommendations.
Proactively seeks ways to improve efficiencies with compliance related processes
Identifies AML compliance training opportunities for areas of non-compliance based on industry trends, exposures and regulatory changes. Provides recommendations and assists with resolution to ensure branch sales teams are fully supported.
Partners with Learning & Development to ensure staff compliance training programs are current.
Support branch operations as a point of contact for compliance and audit related inquiries; escalates inquiries as necessary.
Support branch and operational areas in an advisory role providing guidance and recommendations on high-risk business operations and related member activity.
Leverages their expertise in providing guidance to the branch network on how to engage with members in areas of compliance.
Collaborates with other departments to direct compliance issues to appropriate channels for investigation and resolution.
Supports broader Risk Management team as necessary in risk-related initiatives and processes including AML and Fraud alert processes.
Maintains strong collaborative relationships with external partners, agencies, and vendors to ensure the successful execution of initiatives.

Benefits

Annual salary range: $77,400 - $90,000
Performance bonuses tied to shared goals.
Extended health coverage, including mental health support.
Dental care that keeps you smiling.
Disability coverage for peace of mind.
Take the time you need to relax, explore, or just catch up on life, with vacation and personal days.
Generous RRSP contributions.
In-house financial advice to help you plan ahead.
Flexible options to add your own contributions.
Free banking accounts.
Special mortgage and lending rates.
Preferred financial perks.