Name Screening Analyst, Global AML Operations

Scotiabank•Toronto, ON

3d•Onsite

About The Position

The Analyst contributes to the overall success of Name Screening, ensuring specific individual goals, plans, and initiatives are executed/delivered in support of the team’s business strategies and objectives. Ensures all activities are conducted in compliance with governing regulations and internal policies and procedures to effectively mitigate risk.

Requirements

Bachelor’s degree with a minimum of 2 years of relevant experience or its equivalent in a financial institution in Audit, Compliance, Commercial or Retail Network.
Strong analytical skills to make rational and logical deductions, at times with limited information.
Ability to gather, analyze, organize, document and present large volumes of information in a succinct and organized manner.
Excellent written and verbal communication skills.
Advanced research skills to develop business intelligence on specific industries and business models.
A sound understanding of the Bank’s business lines, products, processes, policies, and practices.
Proficiency with Bank systems/platforms and common computer applications including Word, Excel, Teams/Skype and internet search engines.
Solid knowledge of the Anti-Money Laundering and KYC principles.
Working knowledge of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and supporting regulations.

Responsibilities

Independently investigate and resolve alerts generated by the Bank’s Automated Customer Risk Monitoring tools. Take appropriate action to mitigate risk to the Bank through the timely identification of clients matching against high-risk customer lists, including but not limited to Politically Exposed Persons (PEPs) and Sanctions.
Review customer records, account information, and open- or closed-source intelligence to draw conclusions and determine when a match is present. Prepare referrals based on associated risk to internal partners (AML Operations, AML Risk, Global Sanctions, Corporate Security, etc.) in a timely manner to maintain SLAs.
Ensure proper records and an audit trail of investigational activity and dispositions are maintained. Clear and factual commentary is required to ensure ease of reference for other stakeholders.
Request information as necessary from business units and conduct follow-ups in accordance with SLAs and documented procedures. Maintain records and documentation in accordance with regulatory requirements and departmental standards. Ensure non-responses are escalated in a timely manner.
Identify and document opportunities for increased efficiency within Name Screening and participate in the implementation process through effective stakeholder collaboration.
Identify and escalate to Management unusual alert activity driven by increased volumes, alerting issues, or data quality issues.
Acquire and maintain an understanding of internal AML policies and procedures, regulatory sanctions, and PCMLTFA to ensure obligations are upheld regarding the identification of listed individuals and entities.
Understand and apply the Bank’s risk appetite and risk culture in day-to-day activities and decisions.
Engage in other ad hoc or administrative duties to support Name Screening as required.