AML Transaction Monitoring Analyst – Contract

Wave HQ

We believe small businesses are at the heart of our communities, and championing them is worth fighting for. We empower small business owners to manage their finances fearlessly, by offering the simplest, all-in-one financial management solution they can’t live without.
About the Team:
Our Compliance team is rapidly growing as we scale our financial services business in both the US and Canada. As we evolve, compliance is becoming even more key to what we do.  You’ll be part of a dynamic team responsible for the management of Wave’s AML//BSA program through the implementation and monitoring of effective controls, including the detection and monitoring of suspicious transactions in an effort to prevent money laundering, terrorist financing, and other illicit activity across our proprietary payments, payroll and debit card products.
About the Role:
The AML Transaction Monitoring Analyst will have an important role at Wave. You will be responsible for ensuring the onboarding of customers to our new US debit card product, Wave Money, meets all regulatory and risk requirements. This role requires strength in both fraud and compliance to protect Wave and our customers as we grow an exciting new product.

This is how you’ll have an impact:

  • Conduct customer due diligence (CDD) and enhanced due diligence (EDD) at time of onboarding as well as ongoing monitoring for customers. Experience with legal entity CDD and EDD preferred.   
  • Protect Wave and our customers by ensuring all activity adheres to the PATRIOT Act, OFAC compliance, Bank Secrecy Act and internal Anti Money Laundering programs to ensure compliance with applicable internal policies, procedures and external regulations.
  • Complete quality assurance review of completed suspicious activity, high risk customer, and fraud related alerts and investigations.
  • Identify complexity of ultimate beneficial ownership (UBO) and verification with account relationships.
  • Perform complex fraud investigations using a wide variety of data in order to accept, reject or refer transactions and accounts for further investigation. You’re a self-proclaimed (risk) detective!
  • This is a new, fast growing product so you’ll have the ability to contribute to shaping our policies, procedures and internal tooling which we build in-house.
  • You’ll thrive in this role if you have:

  • 2-4 years of experience in a compliance role at either a banking or fintech institution.
  • CAMS or comparable advanced BSA/AML & OFAC training and/or certification required.
  • Are a highly motivated individual with a strong understanding of the US regulatory landscape, AML/CTF red flag identification, and suspicious activity trends.
  • Proven fraud experience, preferably having worked in monitoring accounts and transactions to identify fraudulent behaviour in online businesses.
  • A thorough understanding of Enhanced Due Diligence for high risk customers.
  • Experience investigating complex cases of potentially suspicious activity and strong ability to prepare Suspicious Activity Reports (SARS) and No SARS. 
  • A thorough understanding of  the review and remediation process of potential OFAC and PEP screening matches.
  • Strong communication skills and passion for customer experience. 
  • Thrive in a fast paced environment, and have a sense of tact and empathy under pressure.
  • A sixth sense for identifying problems while implementing and communicating solutions.
  • At Wave, you’re treated like the incredible human being you are. 
    Work From Where You Work Best: We will always have a welcoming, energizing, and world-class office (in Toronto) with a space for you. Or, if you’re more comfortable working from home, the choice is yours.
    We Care About Future You: You will stretch yourself and you will grow at Wave. You will also be supported on this journey with diverse learning experiences, educational allowances, mentorship, and so much more.
    We Support the Full You: We make a serious investment in your health & wellness. When we think about benefits we think about body, mind, & soul and we take this stuff very seriously. 
    We Take Care of the Fundamentals: Fair compensation, all the office perks you’d want, and the various goodies you’d expect from a growing tech company. This is the obvious stuff, but we don’t want you to think we forgot!
    We believe that a diverse and inclusive culture creates the best workplace. We embrace our differences, value individuality, and the broad spectrum of every Waver’s skills and abilities. We challenge each other from a place of respect and pursuit of continuous growth. We trust each other and encourage everyone to bring their authentic selves to work, everyday. As Wavers, our voices matter, our opinions are met with an open mind. The best ideas win, no matter whose they are.  Contributing to an inclusive culture is a part of all of our job descriptions. 
    We’ve been continuously recognized as one of Canada’s Top Ten Most Admired Corporate Cultures and one of Canada’s Great Places to Work in categories including Technology, Millennials, Mental Health, Inclusion and Women.  
    Are you ready to be a Waver? Join us!
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