AML/ATF Officer

Alterna Savings - Ottawa, ON (30+ days ago)

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Scope of Position

The AML/ATF Officer will be responsible for the daily transaction review and analysis as relates to Money Laundering and Terrorist Financing. The Officer will work closely with all relevant parties to obtain and share information. They will complete all FINTRAC transaction reporting and execute the risk based ongoing monitoring and control testing plan. They will provide daily support to Alterna to maintain and enhance the effectiveness of compliance.

Major Responsibilities

Regulatory Audit and Internal Audit support:
Support the preparation of Alterna for audits by Regulators

Review Submission of all FINTRAC reports:
Review transaction reports to ensure nothing is missed
Audit FINTRAC reports for quality
Ensure internal tracking reports are completed
Provide coaching and feedback where required
Submit the reports after the review is completed

Transaction Analysis, Investigation, Reporting:
Transaction reports as they are produced
Reportable transactions submitted by branch and clearing ops
New account reports as they are produced
Investigate AMLTF and Watchlist alerts generated by Verafin
Investigate all items deemed suspicious from analysis as well as those referred directly by other Alterna employees
Liaise with other departments as required
Perform independent research
Apply AMLTF transaction analysis principles
All investigations follow a documented approach through the case management process on Verafin

Complete all FINTRAC transaction reporting:
Manage records of Large Cash Transaction Form submissions and Large Wire Transfer submissions from branches
Review transaction reports
Complete FINTRAC reports
Ensure internal tracking reports are completed
Submit the reports after the review is completed

Audit/Test / risk assess effectiveness of compliance and risk controls:

Maintain log of controls
Assist manager of compliance with test plan development
Execute testing plan using a risk-based approach
Perform tests
Report results
Tests are run on weekly/monthly/quarterly cycle
Participate in the enhanced monitoring of high risk sectors

Provide daily support to Alterna:
Respond to phone/email queries
Support team leaders, branch managers, and ASK centre on AML compliance issues

Execute the risk based ongoing monitoring strategy:
Complete documented comprehensive member/customer/product/business process analysis
Report review
Documentation review/update
Process review
Detailed sample review
Complete reports


Education / Certifications / Experience

Post-Secondary education in a related field (business, law, economics, criminology) or equivalent experience
A minimum of 2 years of AML experience or similar compliance role
A minimum of 3 years of banking industry experience;
Successful completion of the Certified Anti-money Laundering Specialist exam, an asset
Knowledge or Completion of banking/investment industry courses, an asset.
Knowledge or Completion of Audit related courses/certifications, an asset
Knowledge or Completion of Risk management related courses/certifications, an asset

Knowledge / Skills

Experience and knowledge with Alterna processes and controls
Strong Excel report development skills
General working knowledge and understanding of all regulations affecting the Credit Union and Bank.
Good Knowledge in AMLTF

About the Alterna Financial Group

Alterna Savings and Credit Union Limited (Alterna) has been the Good in Banking for 111 years!

Alterna has grown from its humble beginnings to be the second largest credit union in Ontario, and one of the Top 10 in Canada, with over $8 billion in assets under management and more than 167,000 members and a network of 35 branches across Ontario. The impressive growth throughout the years stems not only from merging with other credit unions, but also from significantly gaining new retail, business and not-for-profit members as people recognize Alterna’s philosophy of putting members first.

Known for its fast-paced environment, Alterna is viewed as a trailblazer in the industry. Led by a CEO with a passion for innovation, Alterna was the first credit union to introduce a digital bank and the first to offer a fully digital end-to-end mortgage through its wholly-owned subsidiary, Alterna Bank.

Alterna is proud of its long history of helping communities thrive. It shared its success in 2018 by donating more than $1 million to the community and, in partnership with employees, contributed 11,300 volunteer hours. Its flagship Community Micro Finance Program also helps underrepresented groups. Since inception, the program has disbursed more than $5 million in impact loans and helped change the lives of more than 1,000 participants and their families.

Alterna is also extremely proud of its corporate culture. With a workforce of more than 600 employees, Alterna is honoured to be recipient of prestigious employer awards, including the National Capital Region’s Top Employers and Aon’s Best Employers (Platinum level) awards.

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  • At Alterna, we offer a competitive total rewards program and an opportunity to truly make a difference. If you put people first and value excellence and integrity, we hope you'll apply!
  • Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills and competencies outlined above.
  • Alterna is compliant with the Ontarians with Disabilities Act. If you have a disability, please contact the recruiter to let us know how we can accommodate you.