Senior Investigator, FIU/SIU/SIUP & HRCO

Scotiabank • Mississauga, ON

7d • Hybrid

About The Position

The Global AML/ATF 2nd line of defense for Canadian Banking and Wealth serves as an escalation point for the business lines and units, as well as a facilitator for policy interpretations. The Senior Investigator contributes to the overall success of the HRCO and the Canadian FIU, SIU, or the SIUP team but is a global role in scope which spans all LOBs by conducting money laundering (ML) and/or terrorist financing (TF) investigations and supporting the HRCO/FIU/SIU/SIUP manager, conducting reviews, and providing feedback on risks associated with any HRCO-designated high-risk customer activities escalated to AML Risk in Canadian Banking, Global Wealth Management (Canada), and other lines of business, as required. This position will be responsible for supporting the maintenance of the HRCO escalation process, as well as the development of ongoing mechanisms to mitigate risks associated with other similar complex scenarios, while safeguarding quality and managing AML/ATF and Sanction risks. The Senior Investigator investigates time-sensitive transaction monitoring cases referred to the FIU/SIU/SIUP by AML Operations and/or other internal or external sources to determine whether activity is reasonable for the Client/focal party and can be closed with referral to HRCO and FIU/SIU/SIUP Manager (as required), or to recommend that potential Reasonable Grounds to Suspect (RGS) exist and refer to the FIU Manager and/or delegate for suspicious transaction report (STR) approval. Ensures all activities conducted comply with governing regulations, as well as internal policies and procedures. The Senior Investigator may be responsible for producing and distributing AML Client Intelligence Reviews (AML CIRs) and supporting the production of AML Client Risk Reports (AML CRR) pertaining to both prospective and existing borrowing relationships in an effort to mitigate financial, operational, and reputational risks to the Bank. Participates in a cross-functional AML CRA team to ensure effective, detailed, and appropriate investigations are conducted.

Requirements

• University degree or equivalent, and a minimum of 2 years of experience in AML and/or risk disciplines. Extensive investigative skills along with 5 years of documented AML or law enforcement experience may substitute for university degree requirements.
• Demonstrated expertise in ML/TF investigations.
• Knowledge of local and relevant AML laws and regulations.
• Strong understanding of financial transactions along with an understanding of technology.
• Good investigative skills and demonstrated understanding of complex financial transactions.
• Demonstrated ability to exercise sound judgment as to the materiality of risks identified.
• Proven ability in determining required risk mitigation activities with appropriate consideration to the impact on the business line.
• Good interpersonal and communication skills.
• Uses an analytical approach to problem-solving, coupled with attention to results and a sense of urgency.
• Advanced knowledge of Canadian Banking and Wealth business units’ functions, procedures, products, policies, and how the various supporting units interact.
• A working knowledge of bank accounting and internal controls.
• Ability to identify gaps and trends through existing departments in the Bank.
• Proficient, short, and concise written and verbal skills required to prepare communications and interact effectively with other Bank departments and external parties.
• Excellent time management skills to meet strict deadlines.
• Thorough knowledge of related regulatory requirements including KYC, AML, Anti-Terrorist Financing Policies, Compliance Control & Operational Risk Self-Assessments legislation and procedures.
• Thorough knowledge of the Bank’s interactive systems including Excel, PowerPoint, Word, Power BI, SharePoint, Acrobat.
• Advanced knowledge of core AML systems (Oracle, Navaera, Certapay, IntraLink Applications, etc.).

Nice To Haves

• Certified Anti-Money Laundering Specialist (CAMS) designation is an asset.
• Ability to communicate in French and/or Spanish is an asset.

Responsibilities

• Oversee up-to-date workflows/record keeping of escalations to the 2nd line. Ensure key milestones are met while meeting productivity targets.
• Support manager oversight, on behalf of the Group CAMLO, for all HRCO-designated high-risk customer activities (EDD, STR, Sanctions, etc.) for Canada and Global Wealth, to make sure appropriate risk mitigation strategies have been applied by: Supporting the execution of the Terrorist Incident Group Event Response (TIGER) protocol and mitigating the AML risks of other complex scenarios, such as external referrals (i.e., Production Orders, GRIDs, etc.); Facilitating and participating in meetings with the relevant stakeholders as required; Conducting HRCO-designated high-risk case reviews to ensure all identifiable risks have been mitigated; Assisting HRCO management in delivering support to AML Advisory teams by driving consistent oversight and management of HRCO-designated high-risk customers and ensuring appropriate decisions are obtained aligned with approved policies and processes; Working with HRCO management, as well as with the AML Advisory teams and the business, to develop and articulate our customer risk appetite for particular customer segments and ensure this is applied to decision-making; Identifying and investigating high-risk Clients, including but not limited to potential politically exposed persons (PEPs)/politically exposed foreign persons (PEFPs), and/or Sanctions, and referring, as appropriate, to internal partners (e.g., EDDU, Global Sanctions, etc.); Identifying and suggesting ML/TF awareness training needs to discuss trends and changes in AML typologies; Requesting and analyzing information from internal departments and external sources to support the production of AML Client Risk Reports (AML CRR); Conducting complex, enterprise-wide corporate risk assessments using public and proprietary data sources.
• Collaborate with partners (EDDU, Sanctions, etc.) in the review of business processes, resulting in recommendations to the Manager for measurable improvements while leveraging reusable (process) components, structures, and enterprise-wide technologies that are effective and efficient, and ensuring that risk is minimized by: When directed by the Manager, conducting needs analyses to implement effective procedures and/or improve/replace with more efficient customer-centric AML and TF processes and procedures that will mitigate reputational, regulatory, and financial risk to the bank; Making recommendations to the Manager to change policy that results in increased productivity with no increase in risk; Making recommendations to the Manager to enhance the employee and customer experience while effectively mitigating AML/TF; Identifying trends and potential AML/TF concerns and working with the Manager, as well as key stakeholders, to ensure they are known and appropriate risk mitigation strategies are developed.
• Oversee projects working independently (at the direction of the Manager) or within cross-functional teams by: Collaborating on and developing proposals; Coordinating with the enterprise training group and business lines to ensure appropriate training on managing high-risk customers is in place for relevant stakeholders and, where relevant, delivering training; Establishing milestones and assessing work effort; Working with a diverse working group, with varying expertise and job levels; Ensuring all deliverables are completed within negotiated timeframes and within established department guidelines and protocols, escalating as necessary.
• Performing and documenting FIU/SIU/SIUP ML/TF investigations, including clearly reasoned findings and supporting documentation, in accordance with Enterprise AML and internal policies and procedures; Performing increased-risk and/or complex investigations and providing recommendations and reports on investigative trends and outcomes; Investigating client records, activities, and account information to determine whether unusual activity may indicate RGS; Preparing and delivering investigative results to appropriate staff, including identification of trends and areas for improvement; Identifying and reporting RGS in accordance with regulatory reporting requirements and timelines.
• Recommending risk mitigation actions and next steps at the conclusion of case investigations, including but not limited to demarketing, retention, or Caution List recommendations.
• Sharing subject matter expertise and providing specialized advice, guidance, and direction to team members on ML/TF and case investigations; Maintaining up-to-date knowledge and skills relevant to ML/TF, Sanctions, and other regulatory matters to support case investigations; Identifying challenges and obstacles related to team objectives and escalating them appropriately; Understanding and applying the Bank’s risk appetite and culture in day-to-day activities and decision-making; Actively pursuing effective and efficient operations in your area while ensuring adherence to and effectiveness of business controls to meet obligations related to operational risk, regulatory compliance risk, and conduct risk. This includes responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook, and Guidelines for Business Conduct; Championing a high-performance environment and contributing to an inclusive workplace.

Benefits

• A competitive compensation and comprehensive benefits plan.
• The opportunity to join a forward-thinking organization where you are surrounded by a collaborative team of innovative thinkers.
• An organization committed to making a difference in our communities - for you and for our customers.
• You can expect to be recognized and rewarded for high-performance; you will be supported by leadership through meaningful development conversations that enable faster advancement and internal training to support your growth and development.

What This Job Offers

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