ICICI Bank Canada is a wholly-owned subsidiary of ICICI Bank Limited (NYSE:IBN) which has its headquarters in Mumbai, India. ICICI Bank Limited is a leading private sector bank in India. ICICI Bank Limited's consolidated total assets stood at US$ 309.1 billion as on March 31, 2025.
Established in December 2003, ICICI Bank Canada is a full-service direct bank with an asset base of about C$5.2 billion as at March 31, 2025 and it is a member of the Canada Deposit Insurance Corporation. ICICI Bank Canada offers a wide range of financial solutions to cater to personal, commercial, corporate, investment, treasury and trade requirements
Reporting to the Manager, Compliance, the incumbent will be responsible for the onboarding, periodic ongoing monitoring and KYC update processes of high risk clients, including correspondent banking and trade finance relationships. The positions requires a candidate to exhibit a good understanding in assessing inherent money laundering risks and developing mitigating controls to effectively manage relationships. Candidate is expected to have a rich experience in identifying patterns, trends and anomalies in complex transaction activity and customer data to detect, prevent, mitigate, and report potential suspicious activity related to money laundering or terrorist financing. The incumbent is also responsible for monitoring regulatory and industry developments to ensure that the Bank’s meets regulatory expectations and implement industry best practices.
Area of Responsibilities
1. Conduct risk assessment of high-risk entity clients and suggest client-specific controls at the time of onboarding.
2. Conduct periodic monitoring for high-risk entity clients, including correspondent banking and trade finance relationships, to identify any potential suspicious activity. Perform thorough investigation on cases involving unusual activity and escalate incidents of suspicious transactions to Senior Manager, Compliance along with supporting investigative narratives and recommendation for reporting suspicious transactions to FINTRAC and other authorities, as required, within prescribed timelines.
3. Work with stakeholders to ensure that the client identification information is periodically updated and drive business functions in meeting the targeted timelines.
4. Periodically review and update the Bank’s Client Risk Management Framework to ensure that the Bank has a strong compliance program and correctly reflects the implemented processes.
5. Organize, file, and maintain records of client risk assessment and periodic ongoing monitoring along with due diligence results as per the Bank’s policy and procedures.
6. Provide support in the identification and implementation of applicable anti-money laundering and antiterrorist financing (AML/ATF) requirements and industry best practices.
7. Partaking and conducting inter/intra departmental training on topics pertaining to identification of high-risk clients, periodic ongoing monitoring, and other related issues.
8. Provide support in the preparation of periodic internal and external reports.
9. Be personally responsible and accountable for self-development and maintaining up to date knowledge, best practices and skills in relevant money laundering, terrorist financing and other regulatory matters.
10. Perform other tasks as assigned from time to time.
If you require accommodation measures during any phase of the hiring process, please notify us as soon as possible. All information received in relation to accommodation requests will be kept confidential
Job Type: Full-time
Ability to commute/relocate:
- Toronto, ON M5H 4B2: reliably commute or plan to relocate before starting work (required)
Education:
- Bachelor's Degree (required)
Work Location: In person
