Financial Crimes Transaction Monitoring Quality Control

About the position What is the Opportunity? The Financial Crimes Transaction Monitoring QC role supports and / or performs the day-to-day execution of regulatory processes, particularly those designed to identify and mitigate Money Laundering / Terrorist Financing (“ML / TF”) risk such as Transaction Monitoring (“TM”), investigations, Suspicious Activity Reporting (“SAR”), and Office of Foreign Assets Control (“OFAC”) requirements. Additionally, the Financial Crimes Transaction Monitoring QC function will support the ongoing Financial Crimes Compliance program through the execution of other regular processes related to regulatory or policy requirements, as required. What will you do? Assist the Senior Manager, Financial Crimes Investigations with the ongoing maintenance of the Financial Crimes Investigations Program for RBC Bank and RBC U.S. Wealth Management (“WM”) Credit Branch Serve as primary Quality Control (“QC”) function over all automated transaction monitoring alerts generated for RBC Bank and RBC U.S. WM Credit Branch through review of initial triage conducted by an analyst within the RBC Enterprise Target Operating Model (“TOM”) who provides a recommendation of closure for non-suspicious activity or a recommendation of further investigation for potential suspicious activity Ensure all transaction monitoring alert recommendations contain key elements such as an overview of flagged activity, external relevant adverse information (“RAI”) searches, and clear and concise rationale for decision Make final determinations on whether alerts can be closed or if they require further investigation Ensure alerts that require further investigation are set up into case investigations for further review in the Global Case Management system in a timely manner Partner with the Global AML Alert Analysis team to provide feedback of QC review through ongoing conversations, monthly meetings, and metrics tracking Review and triage of manual escalations of client transactions through Unusual Transaction Reports (“UTR”) from internal and external partners Execution of Section 314(a) Mandatory Information Sharing searches Execution and maintenance of Section 314(b) Voluntary Information Sharing requests Conduct investigations and maintain appropriate documentation for all conclusions Make recommendations for the filing of SARs and / or demarketing of clients Prepare timely and thorough SARs, as necessary Support RBC Bank Fraud as necessary on Fraud Investigations and complete related SARs Serve as escalation point for potential sanctions hits as identified through Control List Filter (“CLF”) and other local OFAC processes Formulate Requests for Information (“RFIs”) outreach to clients Engage with respective lines of business throughout RBC Bank or RBC U.S. WM Credit Branch and colleagues across Global Financial Crimes Maintain compliance-related records and other relevant tracking sheets What do you need to succeed? 2+ years of Transaction Monitoring and / or AML investigation experience Bachelor's Degree or equivalent experience Knowledge of risk management and anti-money laundering related requirements domestically including Bank Secrecy Act (“BSA”), USA PATRIOT Act, OFAC and other U.S. regulations, such as Foreign Corrupt Practices Act (“FCPA”) Sound knowledge of global AML / CTF requirements Ability to consistently manage multiple priorities. Strong analytical skills Ability to make sound independent decisions upon review of facts and circumstances Strong written and verbal communication skills Experience serving in an investigative capacity; assessing client risks, transactions, and activity; and providing ongoing recommendations to effectively manage risk appetite Strong knowledge of Microsoft suite software (e.g., Word, Excel, PowerPoint) Strong organizational / time-management skill Certified Anti-Money Laundering Specialist (“CAMS”) designation preferred Employees will be expected to be in the office (Raleigh, North Carolina), with the flexibility to work remotely one day per week. What’s 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 include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off. 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. Opportunities to do challenging work. Opportunities to build close relationships with clients. You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals. RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that: Drives RBC’s high-performance culture Enables collective achievement of our strategic goals Generates sustainable shareholder returns and above market shareholder value #LI – POST

Responsibilities

• Assist the Senior Manager, Financial Crimes Investigations with the ongoing maintenance of the Financial Crimes Investigations Program for RBC Bank and RBC U.S. Wealth Management (“WM”) Credit Branch
• Serve as primary Quality Control (“QC”) function over all automated transaction monitoring alerts generated for RBC Bank and RBC U.S. WM Credit Branch through review of initial triage conducted by an analyst within the RBC Enterprise Target Operating Model (“TOM”) who provides a recommendation of closure for non-suspicious activity or a recommendation of further investigation for potential suspicious activity
• Ensure all transaction monitoring alert recommendations contain key elements such as an overview of flagged activity, external relevant adverse information (“RAI”) searches, and clear and concise rationale for decision
• Make final determinations on whether alerts can be closed or if they require further investigation
• Ensure alerts that require further investigation are set up into case investigations for further review in the Global Case Management system in a timely manner
• Partner with the Global AML Alert Analysis team to provide feedback of QC review through ongoing conversations, monthly meetings, and metrics tracking
• Review and triage of manual escalations of client transactions through Unusual Transaction Reports (“UTR”) from internal and external partners
• Execution of Section 314(a) Mandatory Information Sharing searches
• Execution and maintenance of Section 314(b) Voluntary Information Sharing requests
• Conduct investigations and maintain appropriate documentation for all conclusions
• Make recommendations for the filing of SARs and / or demarketing of clients
• Prepare timely and thorough SARs, as necessary
• Support RBC Bank Fraud as necessary on Fraud Investigations and complete related SARs
• Serve as escalation point for potential sanctions hits as identified through Control List Filter (“CLF”) and other local OFAC processes
• Formulate Requests for Information (“RFIs”) outreach to clients
• Engage with respective lines of business throughout RBC Bank or RBC U.S. WM Credit Branch and colleagues across Global Financial Crimes
• Maintain compliance-related records and other relevant tracking sheets

Requirements

• 2+ years of Transaction Monitoring and / or AML investigation experience
• Bachelor's Degree or equivalent experience
• Knowledge of risk management and anti-money laundering related requirements domestically including Bank Secrecy Act (“BSA”), USA PATRIOT Act, OFAC and other U.S. regulations, such as Foreign Corrupt Practices Act (“FCPA”)
• Sound knowledge of global AML / CTF requirements
• Ability to consistently manage multiple priorities.
• Strong analytical skills
• Ability to make sound independent decisions upon review of facts and circumstances
• Strong written and verbal communication skills
• Experience serving in an investigative capacity; assessing client risks, transactions, and activity; and providing ongoing recommendations to effectively manage risk appetite
• Strong knowledge of Microsoft suite software (e.g., Word, Excel, PowerPoint)
• Strong organizational / time-management skill

Nice-to-haves

• Certified Anti-Money Laundering Specialist (“CAMS”) designation preferred

Benefits

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• 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.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.
• You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

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