Senior Director, AML Advisory, Personal Banking and Commercial Banking (PB&CB), Canada

What is the opportunity

In support of the RBC Global Financial Crimes Program and VP Advisory Banking Canada & Caribbean the Senior Director provides leadership and direction to ensure that RBC is developing and sustaining a proactive and risk-based AML Program for the Canadian Personal Banking and Commercial Banking Divisions Canada. Acts as the link/bridge to the Target Operating Model (TOM) functions in Canada for business partners and the individual Money Laundering Reporting Officers (MLROs) to bring best practices for AML risk management and to oversee and manage the Financial Crime Anti-Money Laundering (AML) Anti-Terrorist Financing (ATF) Global Economic Sanctions (ES) and Anti-Bribery (ABAC) risks across Canada. This includes managing regulatory plus internal and external audits/regulatory exams to ensure appropriate tactics are followed all information requests are fulfilled and clear concise and consistent communications are maintained. Where issues nonetheless still arise ensure that the issues including those that are self-identified are properly risk rated a clear and complete action plan for each is developed and that the issues are resolved in a timely manner.

Manage the information and reporting to senior management and provide input into the CAMLOs report to the Boards of Directors including providing positive advice and counsel to senior business leaders on the inherent and residual AML risks in their businesses and to educate them on AML regulatory themes and evolving requirements that will inevitably raise individual regulators AML expectations and to drive all improvement opportunities in the businesses wherever possible.

What will you do

AML Advisory AML Subject Matter Expert 50%

• Leveraging on applicable Enterprise policies and procedures and any added local regulatory expectations develop and maintain business wide AML & ATF policies and procedures
• Direct PB and CB communication strategy and requirements in respect of AML/ATF/GES obligations
• Monitor changes in AML related legislation and make corresponding adjustments to the AML Compliance program for Canadian banking
• Interpret regulatory requirements including participating in industry meetings liaising with our in-market Compliance partners and Enterprise Law Groups as required
• Ensure processes are in place to identify any new AML requirements and work with business and TOM partners to implement effective and streamlined processes and solutions
• Provide input into the development of risk-based methodologies for assessing AML risk associated with geographies business and products and help to develop specific reports to the business partners on these outcomes
• Manage the enhancement and implementation of the Annual AML/ATF/ES Risk & Control Self-Assessment Process
• Support the development of Canada wide AML employee training strategy while ensuring that AML employee training is adequate and effective including the roll-out of added or specialist training to impacted businesses and/or individual employee groups where appropriate
• Lead research projects into current AML issues and trends in the industry and communicate to business units effected in Canada
• Supervise the local implementation of the Enterprise process for complying with Anti-Terrorism requirements.
• Understand RBCs policy and regulatory requirements and obligations in respect of high-risk clients and liaise with the HRC team and other TOM partners such as Insights and Analytics as appropriate to deal with high risk clients in the impacted businesses
• Participate on the Client File Review Committee
• Approve of the annual validation testing and of any updates to AML models themselves for Client Risk Rating (CRR) and Transaction Monitoring (TM) rules models
• Provide guidance and direction on AML issues and risks as they relate to new acquisitions / initiatives / joint ventures involving impacted businesses and manage AML risks during any divestitures and associated transitional period arrangements
• Present to business leaders on risks and outcomes as warranted

Monitoring and Reporting - 25%

• Manage the AML compliance monitoring program (ensure effective reporting of audit regulatory and compliance issues and tracking)
• Work with relevant TOM functional partners to obtain appropriate compliance reporting data for testing and monitoring the implementation of the AML compliance program within Canada Banking
• Coordinate AML compliance reviews; Work with IAS FCOOT and the Operational Risk and Control Monitoring group to enhance testing and monitoring mechanisms for AML and ATF
• Produce comprehensive reporting of regulatory and AML related matters to senior management

Efficiency and Effectiveness - 15%

• Oversee and test/monitor AML Compliance and individual Money Laundering Reporting Officers (MLROs) AML and Compliance activities and interaction with Enterprise TOM partners to ensure processes are efficient effective and meet all local and global regulatory requirements; including anticipating evolving enhancements and leveraging improvement opportunities for Canadian banking where appropriate.
• Develop and implement effective compliance monitoring tools and resources to effectively disseminate AML expertise and activities for Canadian banking and with Enterprise TOM partners

Managerial Excellence - 10%

• Ensure employees understand RBCs vision as well as support and reinforce targeted behaviours that contribute to achieving RBCs goals.
• Manage financial and human resource assets through effective budget management and prioritization of resource allocations and optimization to meet RBC objectives.
• Provide focus and clarity in establishing individual goals driving performance management supporting career development and rewarding strong performance
• Accept and successfully execute change while supporting employees through the process and keeping them focused on business priorities.
• Leverage the value in unit department and enterprise wide teams to develop better solutions and achieve a cross Canadian banking and Enterprise mindset

What do you need to succeed

Must have

• University degree and at a minimum 10 years senior industry experience
• Primary in-depth knowledge of Canadian anti-money laundering laws & regulations personal and commercial banking products and a familiarity with the payments ecosystem.
• In depth understanding of RBC policies and industry best practices related to AML / ATF
• Strong analytical skills and an ability to manage/complete multiple projects simultaneously
• Excellent Written and verbal communication skills
• Strong leadership relationship building and presentation skills
• Understanding of RBC business units
• Attention to detail and strong organizational/time-management skills
• Ability to effectively manage competing priorities

Nice to have

• ACAMS preferred

Whats in it for you

We thrive on the challenge to be our best progressive thinking to keep growing and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other reaching our potential making a difference to our communities and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits competitive compensation commissions and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic collaborative progressive and high performing team
• A world-class training program in financial services
• Opportunities to do challenging work

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best effectively collaborate drive innovation and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect belonging and opportunity for all.