Risk Analyst

Relay • Toronto, ON

2d • CA$72,900 - CA$89,100

About The Position

Relay is a digital banking platform that gives self-made business owners the tools and know-how to be great with money—bringing clarity, confidence, and control to every dollar earned, so they can turn hard work into lasting success. We do this by replacing financial guesswork with real visibility, transforming cash flow from a constant source of stress into a clear signal owners can use to run stronger, more resilient businesses.

This role sits on either our Transaction Monitoring or Onboarding Risk team. Both are front-line teams where your decisions have immediate, visible impact.

Transaction Monitoring is where you intercept fraud attempts in real time. Shell companies trying to funnel money through business accounts. Altered checks. Wire requests that look clean until you notice the third soft signal. The team catches these every day, and the pattern recognition you develop here is something you can't learn from a textbook.

Onboarding Risk is the front gate. You're catching stolen identities, fabricated businesses, and coordinated fraud rings before they get through the door. You're also the reason a legitimate contractor gets approved in minutes. The team regularly reviews real edge-case decisions together to sharpen judgment and stay calibrated.

Every business day, Relay processes millions of dollars in deposits, wire transfers, and card transactions. Every one of those is a decision: hold or release, approve or decline, investigate or clear. You make those decisions. Good decisions mean legitimate business owners get their money fast and bad actors get stopped before they succeed.

You also satisfy a federal obligation. The Bank Secrecy Act requires continuous monitoring of all customer transactions for suspicious activity. You'll think in two frames simultaneously: fraud prevention and regulatory compliance. They aren't always the same thing.

Requirements

• 2+ years in fraud investigation, AML/BSA, or financial crime at a bank, fintech, or payments company. You've made real hold/release or approve/decline decisions.
• You develop pattern recognition. You notice when something doesn't add up, and you dig into it rather than just flagging it.
• You can write clearly under pressure. Your case notes will be read by compliance officers, our bank partner, and potentially federal examiners. "Looks suspicious" is not documentation.
• You make calls and stand behind them. Holding a deposit means a business can't access their money. Releasing it means you're betting your judgment that it's clean. Both decisions have consequences. We need people comfortable with that.

Nice To Haves

• BSA/AML typology experience: structuring, funnel accounts, trade-based money laundering, bust-out
• SQL proficiency so you can pull your own data without waiting for the analytics team
• CAMS, CFE, or equivalent certification
• Experience at a company operating under a bank partnership
• Comfort with AI-assisted investigation tools

Responsibilities

• Hunt for fraud across every payment channel: deposits, checks, wires, card transactions. You're looking for the patterns that don't belong.
• Intercept suspicious deposits before funds settle. Check the signals, verify the story, make the call.
• Review inbound and outbound money transfers. Transaction behavior, stated purpose, sender verification, business email compromise detection, and much more.
• Catch velocity abuse: accounts moving money too fast, in patterns that don't match their profile.
• Document investigations at SAR-referral quality. Your work product goes to our bank partner and potentially to federal examiners.
• Separate real businesses from fake ones. Is this a legitimate contractor or a shell company with a Registered Agent address and no web presence? Is this beneficial owner a real person or a synthetic identity built from a stolen SSN?
• Read the signals across multiple vendor systems: device intelligence, document fraud detection, business verification, synthetic identity scoring. Make the call.
• Break up fraud rings. Coordinated applications sharing devices, addresses, or referral codes. You connect the dots.

Benefits

• Compensation follows impact. As impact increases, compensation grows, and we do not limit compensation changes to a once-a-year review cycle.
• Perks and benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed