Financial Crime Risk Quality Assurance Analyst (12-month temporary)

at  Coast Capital Savings

As a member-owned cooperative, we’re helping our members with their real goals and real challenges so they can live the real life they want. It’s what we’ve been doing for over 80 years, and it’s why today we stand almost 600,000 members strong. Plus, we invest 10% of our budgeted profits back into our community – almost $90 million since 2000 alone – because when our members do well, we believe our communities should do well too.
Financial Crime Risk Quality Assurance Analyst (12-month temporary)
Sep 6, 2024
Location(s): Surrey. Vancouver - GVA or Toronto - GTA
Job Type: 12-month temporary
myWork Options: In-person, Hybrid
Starting Salary Range: $63,300-$75,900

Data Analysis:

• Create weekly, monthly and quarterly reports on review work performed for management.
• Support or lead future phases of efforts related to tiered monitoring, such as auto-closure, segmentation, and profiling.
• Use technology-based financial crime monitoring/detection tools and reports, conduct quality assurance review of the FCRM teams’ ability to monitor/analyze account activity for potential financial crime, identify potential misses and follow established practices to escalate/mitigate losses.
• Identify/analyze weaknesses in procedures from the review of account activity and make appropriate recommendations in operations and processes (rules, trends, schedules) to address these weaknesses and mitigate future risks.

Operations:

• Responsible for compiling and analyzing financial crime risk production data and information and providing independent inferences based on compiled information.
• Conduct critical review and testing on the work product of financial crime risk analysts and investigators to ensure standards are met, and risks are addressed.
• Communicate and review test results and findings with financial crime risk analysts and investigators and monitor for improved results.
• Responsible for developing and implementing standardized QA processes (e.g., sampling) for all coverage areas.
• Enhance the QA process (e.g., sampling) through iterative and continuous improvement for all coverage areas.
• Document, analyze and communicate key risk and performance metrics related to quality reviews.
• Analyze data for root causes and trends for metrics outside of appetite. Translate into training needs, policy/procedure revisions, standardize alert review process and other needs identified during the QA process with the Director, Financial Crime Compliance and Director, Financial Crime Program, Operations and Intelligence.
• Create and provide training sessions to individuals or groups on identified gaps, risks, and new technology/processes.
• Assist Senior Manager, Oversight, Monitoring and Testing in accomplishing department goals through projects, initiatives and compliance program development.
• Maintain expert knowledge of relevant statutes, including the Criminal Code, PCMLTFA, fraud, reputational risk and related case law.
• Represent CCS in criminal and civil proceedings to provide direct or interpretive evidence on CCS’s behalf as needed.
• Monitor, identify and analyze risks, and immediately communicate new financial crime trends and emerging risks to internal partners at various levels - staff, manager, directors, and senior management – and escalate for communication to external partners (e.g. other financial institutions law enforcement, Central 1, etc.).
• Rapidly prioritize and escalate where appropriate when dealing with time-sensitive financial crime-related incidents identified through the QA review process to comply with regulatory requirements and Financial Crime SLAs.
• Support additional compliance and FCRM functions as needed.