AML Auditors Senior

at  InfoTek Consulting

SENIOR AML AUDITORS - JOB-27131

Prospective Start Date: 31 Oct 2024
Prospective End Date: 30 Apr 2025
Location: Toronto ON , ,
Physical Presence: Hybrid - 2 days per week in office
Job Description:
We are seeking Senior Auditors with experience with AML/ATF/KYC experience
One main function will be testing the controls. Need to have experience with Regulatory requirements in Canada, Risk and Controls.
Experience would include evaluating Risk assessments, Regulatory Requirements ( OFSI ) and determine compliance laws and Governance oversight
Job Overview:
The AML Audit Manager is responsible for leading and conducting internal audits focused on Anti-Money Laundering (AML) compliance within the organization. This role requires a deep understanding of AML regulations, strong analytical skills, and the ability to effectively assess the adequacy and effectiveness of internal controls related to AML. The AML Audit Manager will play a critical role in ensuring the organization’s compliance with relevant laws, regulations, and internal policies. Responsible for evaluating and testing the effectiveness of the organization’s AML controls and processes. This role requires a thorough understanding of AML regulations and control frameworks, as well as strong analytical and testing skills.

Key Responsibilities:

• Audit Planning and Execution:

o Develop and execute a comprehensive audit plan focused on AML-related activities, ensuring alignment with organizational objectives and regulatory requirements.
o Conduct risk assessments to identify potential areas of AML risk within the organization.
o Lead and manage end-to-end audit engagements, including planning, fieldwork, reporting, and follow-up on audit recommendations.

o Ensure that all audits are completed in accordance with established timelines and audit standards.

• Control Testing and Evaluation:

o Conduct detailed testing of AML controls to ensure they are effectively designed and operating as intended.
o Evaluate the adequacy of control frameworks related to transaction monitoring, customer due diligence (CDD), enhanced due diligence (EDD), and suspicious activity reporting (SAR).
o Identify gaps, weaknesses, or inefficiencies in the existing AML controls and provide recommendations for improvements.

o Perform walkthroughs and sample testing of AML processes to assess compliance with internal policies and external regulations.

• Risk Assessment:

o Assist in the development and execution of AML risk assessments to identify areas of high risk within the organization.
o Use data analytics and other tools to identify trends, patterns, or anomalies that may indicate potential money laundering risks.

o Collaborate with the risk management team to ensure alignment of AML control testing with the overall risk assessment framework.

• Documentation and Reporting:

o Document testing procedures, findings, and conclusions in a clear and organized manner.
o Prepare comprehensive reports summarizing the results of control testing, including any identified issues and recommended corrective actions.

o Communicate testing results to the AML Audit Manager and other relevant stakeholders, ensuring transparency and clarity in reporting.

• Continuous Improvement:

o Stay current with changes in AML regulations and industry best practices, and incorporate this knowledge into control testing procedures.
o Work with the AML team to enhance and update testing methodologies and frameworks as needed.

o Participate in training and development initiatives to improve AML testing skills and knowledge.

• Collaboration and Support:

o Partner with the compliance, legal, and operational teams to ensure a cohesive approach to AML control testing.

o Support external audits and regulatory examinations by providing documentation and explanations related to AML control testing.

• Assist in the development of training materials and sessions to educate staff on AML control requirements and testing procedures
• Compliance Monitoring:

o Evaluate the effectiveness of AML policies, procedures, and controls across various business units.
o Monitor changes in AML regulations and industry practices, ensuring that the organization’s AML program remains compliant.

o Review suspicious activity reports (SARs) and other AML-related documentation to assess compliance with internal and external requirements.

• Reporting and Communication:

o Prepare detailed audit reports outlining findings, conclusions, and recommendations for improvements in AML controls.
o Present audit findings to senior management, including the Board of Directors and Audit Committee, as necessary.

o Collaborate with the compliance and legal teams to address any identified gaps in the AML program.

• Stakeholder Engagement:

o Act as a liaison with external auditors and regulatory bodies during AML audits and examinations.
o Build strong relationships with key stakeholders across the organization, including compliance, legal, and operational teams.
o Work closely with the AML Officer and other relevant personnel to ensure a cohesive approach to AML compliance.

Qualifications:

• Education:

o Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. A master’s degree is a plus.

• Professional Certifications:

o Certified Anti-Money Laundering Specialist (CAMS), Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or similar certifications preferred.
• Experience:
o Minimum of 5-10 years of experience in internal audit, compliance, or risk management, with a focus on AML.
o Strong knowledge of AML regulations, including the OFSI Relevant Canadian Regulations

o Experience leading audit teams and managing complex audit engagements.

• Skills:

o Excellent analytical and problem-solving skills, with the ability to assess risks and controls effectively.
o Strong communication and presentation skills, with the ability to convey complex information clearly and concisely.
o Proficient in using audit management software and other relevant tools.
o Ability to work independently and manage multiple priorities in a fast-paced environment.
Rate / Salary
$ - $
Sector
Financial - Banking
Category
Senior AML Auditor
Skills / Experience
Not Specified
Benefits
Not Specified
Our Reference

• Audit Planning and Execution