AML BA Business Analyst - Contract

Company: Direct IT Recruiting Inc.

Location: Toronto

Status: 6 Month Contract

Job Reference No: 634

Job Category: AML Anti-Money Laundering, BA, Business Analyst, QA UAT

Career Level: Senior

Number of Staff to Supervise: N/A

Work Experience: 5+ years as a BA, AML, ACMAS certification, ATF, compliance documentation, risk management, QA UAT

Industry: Bank



AML BA Business Analyst - Contract


Job Title: AML BA Business Analyst - Contract

Company: Direct IT Recruiting Inc.

Location: Toronto              

Job Category: 6 Month Contract

Work Experience: 5+ years as a BA, AML, ACMAS certification, ATF, compliance documentation, risk management, QA UAT

Industry: Banking, Financial




The AML Business Analyst is responsible for the elicitation and gathering of business

requirements as it relates to current and future state including data, processes, procedures, analytics,

reporting and other aspects across the Financial Crimes Unit. The AML Business Analyst will be charged

with developing business requirements across the Financial Crimes Unit . Key data metrics, as well as

recommendations and conclusions to support decision making will be defined as part of the transformational

program. In addition, the AML business analyst will participate in the testing, training and project support



The project is a regulatory risk-mitigation project focused on improving the company’s ability to identify and

address Money Laundering (ML) and Terrorist Financing (TF) risks, improve the Client Risk Rating end-to-end

process and transform the Wealth Compliance – Trade Surveillance system and processes through enhancements

 to the AML and Wealth Compliance program.   This includes the replacement of antiquated systems and

supporting processes. The objective of the project is to ensure regulatory expectations are met, through effective and efficient processes

and systems, with AML and Compliance requirements as the priority.

- Work with the Business Leads and SMEs to elicit business requirements covering all activity to support the project.

- Translates detailed data and financial crimes unit requirements into understandable business language suitable for

developing use cases,  test cases and related documentation

- Works with business specialists, analytics resources and subject matter experts to maintain, enhance and refine

detailed business requirements

- Analyzes and document implementation plans and processing requirements.

- Communicates effectively with the business to identify needs and evaluate alternative business solutions.

- Collaborates with Technology developers and business subject matter experts to establish the best technical solution.

- Develops strong relationships with the LoBs to partner in the management of money laundering and terrorist financing

risks in order to understand and transform the Financial Crimes Unit

- Creates new tools, and leverages existing resources, including technology, to develop best practices for reviewing,

analyzing, reporting and monitoring potential money laundering and terrorist financing activities and developing

requirements designed to mitigate the associated risks.

- Understands relevant laws and regulations to provide input/recommendations into the design and implementation

of operational processes intended to ensure compliance.

- Builds a network of relationships with peers,  agencies, and industry experts to perform benchmarking analysis,

with the aim of creating a best-in-class AML and compliance business requirements

- Develops an overall view of money laundering and terrorist financing risk identifying emerging and/or systemic

issues and providing information and recommendations to the Chief Anti-Money Laundering Office (CAMLO) on ways

to improve the effectiveness of strategies

- Adheres to effective project management methodologies to all projects

- Provides highly specialized advice/consultation to management/partners with respect to incident management:

- Dynamic problem-solver: ability to quickly assess issues and tasks and able to deliver as required and assigned.



- Extensive working knowledge of the company’s organization and business accountabilities.

- Thorough knowledge of AML or Financial Crime regulations, practices and economic sanctions, which may be

enhanced via accreditation by ACAMS (Association of Certified Anti-Money Laundering Specialists), is an asset.

- Significant experience with building business requirements documentation, testing and software development lifecycle

- Experienced working in a large program

- Experience with Vendor implementations

- Experienced with Organizational Change Management from a people, process and technology view

- Bachelors degree in business is preferred, with an advanced degree in business a definite asset.

- An analytical/systematic thinker with an understanding of the elements of project management gained through

demonstrated experience and can translate business requirements to technical specifications for technology to implement

- Ability to translate business requirements to technical specifications for technology to implement

- Ability to review and assess technology systems relative to business requirements

- Proven experience in the management of complex projects.

- Solid relationship management and negotiation skills with the ability to influence others in order to promote and negotiate

- Time management skills in order to prioritize and work on multiple projects simultaneously.

- Solid judgment and problem-solving skills in order to provide input and advice to LoBs for best compliance and risk

management solutions.

- Extensive people management skills sufficient to lead and motivate a professional workforce.

- Systematic thinker with a strong process, analytical and technical background.

- Ability to independently interpret complex regulatory issues, and to provide sound guidance to businesses in a straightforward manner.

- Advocacy and relationship management skills in order to work collaboratively with LoBs on developing

innovative solutions to regulatory challenges.

- Well-developed interpersonal skills, with an ability to establish strong relationships in order to build trust amongst all

stakeholders (both internally and externally). Excellent understanding of the Canadian banking industry.

Awareness of sector trends, opportunities and challenges.