AML Lead & Compliance Officer

at  Financeit

WHO WE ARE:

Financeit is a point-of-sale financing provider serving some of the largest home improvement and retail organizations in Canada.
Our platform helps businesses close more sales by offering customers affordable monthly payment options for their next big home improvement, vehicle or retail purchase.
We are small enough that you can make an impact within the company and large enough to make an impact in the market.
Financeit is a company where collaboration, inclusivity, fairness, and respect aren’t just ideas that get talked about, but are part of who we are. If such a workplace intrigues you, we hope you’ll join us.

ABOUT THE ROLE:

As the AML lead you’ll be primarily responsible for the evolution, maintenance, and enforcement of Financeit’s Anti-Money Laundering (“AML”) Program. The goal is to properly mitigate money laundering and terrorist financing risks, and to ensure compliance with relevant AML legislation.
You are a subject matter expert on AML for the entire company. As such, you possess an in-depth knowledge of Canadian regulatory requirements and have a high level of familiarity with The Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Regulations, and the Financial Transactions and Reports Analysis Centre of Canada Guidance and Policy Interpretations.

WHAT YOU’LL DO:

Review, asses, audit and report (to FINTRAC) on the following:

• Unusual and/or suspicious transaction including instances of consumer fraud;
• Alerts for politically exposed person(s) (“PEP”) and make PEP determinations;
• AML/Sanctions/ATF alerts escalated by the 1st line of defense;
• Adverse News alerts; and
• Consumer loans to ensure AML compliance, as well as underwriting compliance.

You’ll also:

• Monitor high risk clients for money-laundering or terrorist-financing indicators;
• Provide guidance, training, direction and support to a direct report;
• Lead the annual internal self-assessment of money-laundering and terrorist-
• financing controls;
• Facilitate Financeit’s self-assessment of inherent risks process;
• Support the development and maintenance of all policy, procedure, and training
• documents that make up Financeit’s AML program;
• Prepare monthly management reports on AML activities, and underwriting
• compliance audits;
• Analyze AML and/or fraud transaction trends and make recommendations on
• process improvement, policy updates, and innovation on risk mitigation, money-
• laundering, terrorist financing and/or fraud; and
• Act as a backup to colleagues, provide support to ad-hoc or project-based
• AML/underwriting activities and complete other duties as assigned.