Associate Vice President, FCRM, FIU Operations, Enhanced Due Diligence, Can

at  TD Bank

JOB DESCRIPTION:

The TD Global Financial Crime Risk Management (FCRM) department is accountable for establishing TD’s Global Anti-Money Laundering (AML), Anti-Terrorist Financing (ATF), Economic Sanctions and Anti-Bribery/Anti-Corruption (ABAC) (collectively, Financial Crime Risk Management) program to ensure that all TD businesses adhere with AML/ATF/Sanctions/ABAC regulatory expectations in all jurisdictions where TD operates. This includes setting consistent standards across business segments that may be further tailored to specific business or jurisdictional requirements; conducting periodic enterprise-wide AML/ATF/Sanctions/ABAC risk assessments; maintaining the Global AML Policy (including Know Your Customer and Enhanced Due Diligence, record keeping & retention requirements); currency transaction and suspicious transaction monitoring and reporting; screening TD customers against regulatory watch lists; a hierarchy of designated AML officer functions; enterprise-wide and specialized AML training of employees; and independent AML testing.

JOB SUMMARY

The AVP of Canada Enhanced Due Diligence (EDD) provides strategic direction, leadership, and oversight to the Canada EDD program and PEP program, and is responsible for the implementation and execution of processes related to: 1) High risk customer rating/ determination, 2) Politically Exposed Persons (PEPs) identification and classification, 3) Enhanced due diligence on potential high-risk customers, including PEPs, and 4) Initial and periodic reviews of high-risk customers, including PEPs, 5) transaction reviews for high risk customers and PEPs for regulatory reporting, and 6) recommendations regarding demarketing .

INDIVIDUAL ACCOUNTABILITIES:

• Oversees the day-to-day activities and personnel within the Canadian Enhanced Due Diligence (EDD) and PEP teams
• Develops, maintains and reviews the EDD and PEP programs and procedures to ensure compliance with applicable legal, regulatory and internal requirements
• Ensures that all EDD and PEP investigations and operations work is completed in a timely and efficient manner, while maintaining the highest standards for regulatory and compliance requirements
• Oversees the review and approval of EDD and PEP cases that resulted in or from specific money laundering and/or terrorist financing or sanctions concerns
• Ensures that EDD and PEPs reports are clear, thorough, and logically organized summarizing all pertinent intelligence analysis
• Responsible for escalating and reporting suspicious activity pursuant to regulatory obligations
• Ensures that reports and regulatory submissions are written appropriately and maintains the highest standards for regulatory and compliance reporting requirements
• Acts as the center of expertise in Canada for the AML regulatory requirements related to enhanced due diligence, transaction monitoring and regulatory reporting obligations
• Interacts with the other senior members of Global AML concerning EDD and PEP issues, and provides leadership and direction in the development of Canadian EDD and PEP strategy, procedures and projects
• Communicates with stakeholders with other areas in the Bank regarding due diligence and other requests for information
• Liaises with internal audit and AML testing during reviews of EDD and PEP functions
• Reviews internal audit, AML testing, and regulatory examination results, and takes corrective action as necessary
• Serves as a TD’s representative on Canadian EDD and PEP matters before regulators
• Maintains in-depth knowledge of Canadian AML regulations, particularly those relating to, KYC, customer risk rating, enhanced due diligence, PEP determination and AML regulatory reporting
• Monitors AML industry developments, including red flags and best practices, and maintains advanced knowledge of new and amended laws and regulations impacting EDD, and ensures processes are in place to keep the Canadian EDD and PEP teams updated on such developments
• Successfully completes all required online and any applicable specialized training and ensures staff completes all required online and applicable specialized training
• Contributes to a positive, ethical and respectful working environment and communicates openly with others; Models company culture both, internally and externally
• Ensures appropriate caliber, stature, and domain expertise in staffing within the AML Canada Enhanced Due Diligence and PEP function;
• Owns appointments, terminations, compensation, and performance management for AML Canada Enhanced Due Diligence and PEP leadership and staff.

SHARED ACCOUNTABILITIES

• With FCRM partners and the businesses: identify, assess, control, test and monitor AML Risk. Ensure that the Bank operates within the AML risk appetite. Ensure that operational risk from an AML standpoint is being effectively assessed, mitigated, and managed.
• With other Risk teams: Drive an integrated and effective risk management program and culture. Provide AML Compliance perspective.
• With Regulatory Relationships & Government Affairs (RRGA): Assist in the management of regulatory relationships, where applicable
• Other Qualifications/Skills/Experience:
• Experience in managing large operational teams; proven ability in leveraging technology & innovation to improve efficiency and effectiveness
• Deep knowledge of AML typologies, risk management tools and investigative techniques from a bank, law enforcement and regulatory perspective
• Strong Control/Risk Management mindset; highest professional standards
• Ability to build trust and credibility with business leaders and regulators
• Courage and strength of conviction to make and support difficult decisions.

CAPABILITIES, QUALIFICATIONS

• Experience in managing large operational teams; proven ability in leveraging technology & innovation to improve efficiency and effectiveness
• Deep knowledge of AML typologies, risk management tools and investigative techniques from a bank, law enforcement and regulatory perspective
• Strong Control/Risk Management mindset; highest professional standards
• Ability to build trust and credibility with business leaders and regulators
• Courage and strength of conviction to make and support difficult decisions.

SPECIFIC EDUCATIONAL REQUIREMENTS:

• Undergraduate Degree required
• 10+ years of dedicated AML experience with particular focus on KYC, enhanced due diligence, and investigations
• Certified Anti-Money Laundering Specialist (CAMS) credential is a plus
• 7+ years’ experience in team managerial role
• Strong project management, analytical, problem resolution and consensus building skills
• Strong customer service orientation and a professional approach
• Ability to interact with all levels within the organization
• Proven excellence in communication skills, both written and verbal and work closely with internal partners on communication strategies
• Excellent planning and organizational skills
• Ability to align Canada EDD and PEP program goals and benefits with long-term goals of the organization
• Strong negotiation and influencing abilities
• Strategic thinker; able to think conceptually
• Have a high degree of attention to detail
• Proven ability to develop productive business relationships with internal and external partners
• Organized with proven ability to execute with excellence in a fast-paced environment
• Demonstrated ability to work independently and with minimal supervision to identify issues and meet deadlines

WHO WE ARE:

TD is one of the world’s leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we deliver legendary customer experiences to over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues.
TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you’ve got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we’re here to support you towards your goals. As an organization, we keep growing – and so will you.

• Think like a customer; provide legendary experiences and trusted advice.
• Act like an owner; lead with integrity to drive business results and contribute to communities.
• Execute with speed and impact; only take risks we can understand and manage.
• Innovate with purpose; simplify the way we work.
• Develop our colleagues; embrace diversity and respect one another