VersaBank is an inclusive, entrepreneurial, Schedule 1 Chartered Bank with over $6.8 billion in assets and growing. As Canada’s most innovative bank, VersaBank operates as a branchless financial institution that obtains its deposits and provides most of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses.
VersaBank’s Common Shares trade on the Toronto Stock Exchange (“TSX”) and Nasdaq under the symbol VBNK. Our head office is in London, Ontario, with various offices located across Canada. For more information on VersaBank, please visit our website at www.versabank.com .
We are looking for an AML Advisor & Software Coordinator to join the Anti-Money Laundering (AML) team. This is a full-time, in-office role located in London, Ontario.
As an AML Advisor & Software Coordinator, you will support the Bank’s AML compliance program, ensuring compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), Bank Secrecy Act (BSA) and related AML regulatory requirements. This role also supports ongoing AML operations, regulatory compliance activities, system administration, and the continuous improvement of processes and controls. Additionally, this position plays a central role in the administration, optimization, and ongoing enhancement of the Bank’s AML monitoring system (Datasoft).
Primary Responsibilities include:
- Assist with the automation and optimization of AML processes.
- Analyze AML alerts generated by software systems, AML reports, staff submissions, etc., ensuring compliance with PCMLTFA and other relevant regulations.
- Perform ongoing control testing, data validation, mapping, and data quality assurance activities.
- Participate in annual risk assessment analysis, system tuning, and monitoring program needs.
- Support AML compliance during audits and examinations.
- Propose process improvements based on regulatory requirements.
- Review and escalate AML alerts for filing Suspicious Transaction Reports (STR) as per regulatory requirements.
- Assist in regulatory report filings such as LCTR (Large Cash Transaction Report), STR, and EFT (Electronic Funds Transfer) filing.
- Support the transition of AML processes to automated systems by managing data migration, developing and maintaining smart forms with Datasoft, coordinating data integration and bulk uploads with IT, enhancing risk rating frameworks, and producing reports to support AML monitoring, management, and regulatory requirements.
- Actively participate in team meetings, committees, and project plans.
Support ongoing regulatory research, policy review, and procedure updates.
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Qualifications:
- Post-secondary education in Business, Finance, Criminology, Law, or a related field, or an equivalent combination of education and relevant professional experience.
- Minimum 2 years of experience in banking, financial services, compliance, fraud prevention, or AML operations.
- Working knowledge of applicable AML/ATF regulatory requirements, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), FINTRAC guidance, OSFI expectations, and U.S. regulatory requirements such as BSA/AML and OFAC sanctions.
- Professional AML-related certifications (e.g., CAMS, CFCS, or equivalent) are considered an asset.
- Experience conducting transaction monitoring, alert reviews, investigations, and customer due diligence using AML and fraud detection systems.
- Proficient in Microsoft Office applications, particularly Excel, Word, and Outlook.
- Strong analytical and critical thinking skills with the ability to identify trends, investigate complex issues, and recommend appropriate actions.
- Excellent organizational and time management skills, with the ability to prioritize competing demands and meet established deadlines.
- Effective verbal and written communication skills, with the ability to collaborate and build relationships across all levels of the organization.
- High degree of accuracy and attention to detail in a regulatory and compliance-focused environment.
- Demonstrated ability to interpret regulatory requirements and apply them to operational processes and controls.
Experience supporting AML compliance initiatives related to system implementations, process improvements, or regulatory change management is considered an asset.
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What we offer:
- A positive team-based work atmosphere that promotes collaboration and career advancement.
- Competitive compensation package including base salary, an incentive award and pension supplement program.
- An outstanding benefit program.
- Tuition refund program.
Fitness club membership.
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Application Procedure:
If working for a ‘non-traditional’ bank with an entrepreneurial flair appeals to you, we encourage you to apply. Please be advised that only those applicants selected for an interview will be contacted.
At VersaBank, we are committed to fostering a diverse, inclusive, and equitable workplace. We encourage applications from individuals of all backgrounds, including persons with disabilities, Indigenous persons, members of visible minorities, women, LGBTQ+ individuals, and other underrepresented groups. We believe that diverse perspectives strengthen our organization, and we strive to create an environment where everyone has an equal opportunity to succeed. We also encourage candidates with different abilities, relevant alternative expertise, or experience who can perform the essential and critical functions of the job, with or without support(s). If accommodations are required, we are dedicated to providing the necessary support to ensure full participation. VersaBank is an equal opportunity employer and complies with all applicable accessibility laws and regulations.
