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US AML & Sanctions Quality Assurance Consultant

US AML & Sanctions Quality Assurance Consultant

CIBCChicago, IL, United States
3 days ago
Job type
  • Full-time
Job description

We're building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what's right for our clients.

At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

To learn more about CIBC, please visit CIBC.com

The US AML and Sanctions Quality Assurance Consultant is a member of the US Anti-Money Laundering and Sanctions Team. The US AML and Sanctions QA Consultant will complete ongoing testing of operational activities and reporting to confirm adherence to US AML and Sanctions policies, standards and procedures, in accordance with regulatory requirements; as well as preparing reports summarizing QA conclusions and opportunities for enhancement. The US AML team is responsible for preventing, identifying, investigating, and reporting suspicious or unusual activity across all available products and client segments. The Global Sanctions team provides guidance and oversight on compliance with Economic Sanctions laws imposed by the Department of the Treasury, Office of Foreign Assets Control, as well as sanctions programs promulgated by other foreign governmental agencies, including the Office of the Superintendent of Financial Institutions (OSFI)

What You'll Be Doing

Reporting to the Director, Compliance, the Quality Assurance Consultant is accountable for execution of the US AML and Sanctions QA procedures, prepares reports summarizing the results of QA testing, and identifies and communicates opportunities for process and control enhancement based on QA activities. The US AML and Sanctions QA Consultant regularly interacts with members of US AML and Global Sanctions, as well as with members of Enterprise AML Quality Assurance.

At CIBC we enable the work environment most optimal for you to thrive in your role. You will have the flexibility to manage your work activities within a hybrid work arrangement where you'll spend 1-3 days per week on-site, while other days will be remote.

How You'll Succeed

  • Perform QA review of AML operations activities, including but not limited to : transaction monitoring (e.g., alert and case investigations, suspicious activity report filings), periodic reviews, and Sanctions alert decisions and documentation for accuracy and completeness and to confirm adherence to procedures and ensure documentation and retention standards are addressed
  • Identify and communicate opportunities for enhancement in process or control, as well as team member performance, based on QA activities
  • Prepare reports effectively communicating QA review findings, promptly escalating significant deficiencies to management

Who You Are

  • CROSS-FUNCTIONAL RELATIONSHIPS

    • The role interacts regularly with peers with US AML and Sanctions for the purpose of executing quality assurance activities for US AML and sanctions.

    COMPLIANCE REQUIREMENTS / RESPONSIBILITIES

  • As an employee of CIBC, the incumbent must comply

    • AUTHORITIES / DECISION RIGHTS

  • As a key contributor to the business unit, this job has the authority to recommend changes to business processes in order to enhance operational efficiency and effectiveness.

    • CONDUCT & CULTURE RISK

    Our CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leadership's identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring / assessments. We all are accountable for managing risk.

    As an employee of CIBC the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes :

  • Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls
  • At all times acting in accordance with our Purpose and shared values, to achieve our Bank's strategic goals
  • Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
  • Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings
  • Escalating matters through one of the appropriate channels identified in the CIBC Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with CIBC's policies, frameworks, guidelines, processes and controls
  • Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders
  • Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting CIBC's reputation as a leading financial institution

    • KNOWLEDGE AND SKILLS

  • Bachelor's degree or equivalent job experience in banking
  • Minimum 1-3 years of investigative audit, testing, quality assurance or investigative or or related experience with emphasis on BSA / AML and Sanctions
  • Knowledge of applicable regulations and industry knowledge of emerging risks
  • Experience with a BSA / AML transaction monitoring system(s) required
  • Experience with watchlist screening system(s) required
  • Intermediate or better Excel and Word skills - pivot table and chart usage, sorting and filtering, incorporating data validation
  • Excellent interpersonal skills, including verbal and written communications

    • California residents - your privacy rights regarding your actual or prospective employment

    At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $ 110,000- $120,000 for the market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee's needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members.

    What CIBC Offers

    At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.

  • We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program
  • , a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
  • Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
  • We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
  • Subject to plan and program terms and conditions

    • What you need to know

  • CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
  • You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
  • We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.

    • Job Location

    IL-70 W Madison St, 8th Fl

    Employment Type

    Regular

    Weekly Hours

    40

    Skills

    AML Investigations, AML Monitoring, Investigating, Proactive Monitoring, Proactive Planning, Proactive Strategies, Proactive Thinking, Quality Assurance (QA), Regulatory Compliance, Transaction Monitoring, Working Independently

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