Customer Due Diligence Analyst
Location(s): Surrey, Vancouver - GVA or Toronto - GTA
Job Type: Full Time
myWork Options: In-person, Hybrid
Starting Salary Range: $54,000-$64,800
Background Screening Requirement:
- Enhanced Criminal Record Check
- Credit Check
- Identity Verification
- Employment Verification
- References
What's the job?
The Customer Due Diligence (CDD) Analyst conducts Customer Due Diligence and Enhanced Due Diligence (EDD) for retail and business members that may present a higher risk tier to the Credit Union. The CDD Analyst assesses Coast's AMLATF program to ensure reporting compliance with various requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and related regulations (PCMLTFA/R) risk and assigns risk ratings. They will help key stakeholders understand necessary details about with whom we are conducting business and understand the key risks inherent in the customer relationship by taking a risk-based approach to identify customers that may pose a higher risk of money laundering (ML) and terrorist financing (TF), (collectively "ML/TF").
What you'll get to do:
- Acts as a resource/consultant to all employees about anti-money laundering/anti-terrorist financing compliance matters by providing advisory assistance and is well-versed in AMLATF.
- Performs daily name screening of members using subscribed software to identify Politically Exposed Persons (PEPs), individuals/entities on the Canadian sanctions and Terrorist Designated Persons list and other persons that may be associated with financial crime.
- Supports planning, coordination, testing and execution of AMLATF-related projects to ensure compliance with legislation.
- Studying external and internal trends looks for results that help identify the effectiveness of our internal monitoring software, tools, and processes used to identify high-risk behaviour and activity.
- Monitors identified high-risk customers, products, services and accounts for unusual activity, utilizing monitoring software and any available reports (i.e., Countries of Concern lists, CDD Methodology) to detect High-Risk Members and identify risk weightings.
- Determines Politically Exposed Foreign Persons (PEFP) using subscribed software and conducting PEFP investigations on positive matches and is responsible for conducting ongoing monitoring and reporting High-Risk PEFPs to the CAMLO.
- Applies research and risk methodology to assess members for PCMLTFA risk and recommends risk rating assignments. Retrieves and reviews financial transactions to identify activity commensurate with customer relationships that pose a higher financial risk exposure to the credit union with emphasis on money laundering or terrorist financing.
- Conducts monthly OSFI Terrorist name checks, reporting any findings to the Senior Manager, Enhanced Due Diligence and High-Risk Member Program and prepares required report for FiCom to be submitted by Senior Manager, Enhanced Due Diligence and High-Risk Member Program.
- Identifies and analyzes risks affecting CCS and makes appropriate recommendations to prevent/mitigate future risks and improve efficiency in relation to AMLATF compliance matters.
- Identifies member records and transactions that require further review and takes action to obtain and follow up on attaining CDD/EDD information as requested. Interacts with the line of business contacts to understand member behaviour, communicate activity of interest and concern, and update as necessary.
- Documents key points regarding members that pose high-risk factors to the Credit Union and presents findings to Management on members who are to be considered for closure.
Who are we looking for?
- High School and a Diploma Two years of formal education or equivalent. Courses related to Business Administration and AML/ATF are preferred
- 4 - 6 years of Experience in financial institutions is required
- Proficient knowledge of banking and banking system
- Sound knowledge of regulatory requirements around AML/ATF and sanctions.
- MS Office experience (Excel, Word, etc)
- Good communication skills, both written and verbal
- Excellent organizational and time management skills
- Ability to work within a team environment
Equity, Diversity & Inclusion at Coast Capital
Don’t meet every single requirement? At Coast Capital, we believe everyone has potential. We are committed to building better, brighter, more inclusive futures for everyone – including our employees. We see the potential in our employees to achieve amazing things and want to invest in your future. If you’re excited about this career opportunity and your experience may not perfectly align with every qualification in this job posting, we still encourage you to apply. You may be just the right candidate for this or other opportunities at Coast Capital.
At Coast Capital, we are committed to equity, diversity and inclusion. We strongly encourage applications from Indigenous Peoples, Black, and racialized persons, persons with disabilities, people of diverse sexual and gender identities and women. We value applicants who have demonstrated a commitment to equity, diversity and inclusion and recognize that diverse perspectives, experiences and expertise benefit of our employees, our members, and our community.
We strive to provide an accessible candidate experience for our candidates with different abilities. If you require any accommodations, please contact accessibility@coastcapitalsavings.com or call 778-391-5836. We will work with you to meet your needs.