AML & Credit Risk Specialist

Posted 23 April 2024

AML & Credit Risk Specialist at Search by TCAE

Finance: Risk Full-time Vancouver

Experience: Mid-Level
Education Required: Bachelor's degree in Finance, Economics, Business Administration, or related field.
Salary Range: Not Specified

Close date: 31 May 2024

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Position Description

As a Counterparty Risk and Merchant Underwriting Specialist, you will play a crucial role in evaluating and mitigating risks associated with counterparties and merchants, safeguarding the financial integrity of our institution. You will be responsible for:

Counterparty Risk Assessment:

  • Conducting thorough analyses of counterparties' financial health, creditworthiness, and overall risk exposure.
  • Assessing and quantifying potential risks associated with counterparties, ensuring compliance with regulatory standards and internal risk policies.

Merchant Underwriting:

  • Evaluating merchant applications and assessing the risk level associated with onboarding new merchants.
  • Conducting comprehensive risk assessments to determine the financial stability, business practices, and potential risks related to merchants' operations.

Risk Mitigation Strategies:

  • Developing and implementing risk mitigation strategies and recommending risk management measures to minimize exposure to potential financial losses.
  • Collaborating with internal stakeholders to devise effective risk mitigation plans.

Monitoring and Reporting:

  • Continuously monitoring the performance of counterparties and merchants, identifying emerging risks, and promptly escalating concerns to relevant stakeholders.
  • Generating regular reports on risk exposure and providing insights for decision-making purposes.

Compliance and Documentation:

  • Ensuring compliance with regulatory requirements and internal policies pertaining to counterparty risk and merchant underwriting.
  • Maintaining accurate documentation of assessments, decisions, and risk-related information.

Cross-functional Collaboration:

  • Collaborating with internal teams such as compliance, legal, finance, and operations to streamline processes, improve risk assessment methodologies, and contribute to overall risk management strategies.

Our client is a leader in payment innovation and looking for a top talent to join them as an AML & Credit Risk Specialist. The role is full time and onsite based in Vancouver.

Required Skill / Experience

  • Credit risk experience is the top priority for the client
  • 4+ years of experience in risk management, specifically in counterparty risk assessment and merchant underwriting within the financial industry.
  • Bachelor's degree in Finance, Economics, Business Administration, or related field.
  • Relevant certification (e.g., CAMS, CFCS, FRM, CFA) or progress towards is desirable.
  • In-depth understanding of relevant business operations, merchant account compliance and underwriting guidelines.
  • Experience and knowledge of merchant risk management best practices and tools (including data/credit bureau products) for business entity verification and credit management, with a proven ability to distill into repeatable, scalable processes.
  • A fundamental understanding of client onboarding and ongoing monitoring, preferably within the payments industry.
  • Strong knowledge of accounting principles and comfort evaluating financial statements and business models across various industries.
  • The ability to transform business and financial data into a cohesive narrative that outlines potential operational and credit risks and presents dynamic mitigation strategies.
  • Ability to think critically about complex problems, appropriately weigh many factors and reach a definitive recommendation.
  • Proficiency in utilizing risk assessment tools, financial databases, and analytical software.
  • Strong time-management and organizational skills.
  • Ability to learn and adapt to new technology.

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