Senior Director, Corporate Credit Risk

We are Paramount Commerce, a leading fintech company focused on simplifying payments in Canada. Since the early 2000s, we have redefined online purchasing by introducing a way to pay directly from a bank account, bypassing credit cards or e-wallets. Our commitment is to provide the highest standards of security and risk management that support seamless payments and rich data.

To achieve our goals, we are seeking talented professionals who can push the boundaries of innovation, contributing to our growth across Canada and worldwide. We are seeking a Senior Manager, Regulatory Onboarding to join our Customer Onboarding team. This role is part of the First Line of Defence, reports to the VP, Customer Onboarding and is critical in ensuring the company adheres to internal regulatory compliance frameworks, relevant regulatory requirements, e.g., PCMLTFA, RPAA, mitigates financial crime risks, and fosters a culture of compliance. The Senior Manager, Regulatory Onboarding is responsible for leading a team to conduct risk-based due diligence assessments, developing and refining onboarding procedures, and working closely with internal stakeholders to mitigate financial crime risks such as money laundering, terrorist financing, and (Economic) sanctions exposure. The role will drive process efficiencies and contribute to the operationalization of the Three Lines of Defence Model by ensuring the First Line of Defence effectively implements controls as defined by the Second Line of Defence. This position requires a proactive, business-oriented professional with strong regulatory knowledge and the ability to work cross-functionally.

Oversee the end-to-end regulatory onboarding process for corporate clients, ensuring adherence to enterprise, and regulatory compliance obligations related to AML/ATF, (Economic) sanctions and RPAA;

• Draft and refine procedures and process documentation to ensure the seamless application and execution of internal controls;
• Partner with First Line of Defence senior management and sales to ensure a consistent and risk-based approach to Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD);
• ​​Act as a liaison between the First Line of Defence and the Second Line of Defence to ensure clarity and alignment of risk management expectations;
• Provide training and guidance to First Line of Defence staff on financial crime compliance and risk management practices in conjunction with Second Line of Defence;
• Regulatory Onboarding Responsibilities

Support the development and execution of First Line of Defence controls related to AML/ATF, (Economic) sanctions, ensuring effective onboarding risk mitigation;

Conduct Customer Risk Ratings and corresponding KYC, CDD, and EDD measures, as necessary;

Conduct screening against relevant and up-to-date (Economic) sanctions, watch, and PEP lists as well as adversarial news;

Perform ongoing monitoring of business relationships in conjunction with Second Line of Defence;

Act as subject matter expert to First Line of Defence on AML/ATF and (Economic) sanctions compliance, financial crime risk, and regulatory onboarding best practices;

Engage in constructive feedback loops with key stakeholders to drive regulatory onboarding process improvements and regulatory alignment.

# Minimum 5+ years of experience in KYC/AML/ATF, regulatory onboarding, or financial crime compliance within financial services, PSPs, or banking;

Strong understanding of Canadian regulatory requirements related to AML, KYC, and financial crime prevention, in particular PCMLTFA, PCMLTFA, regulatory guidance and industry standards;

Proven knowledge of legal entity types, corporate structures, beneficial ownership, and complex entity risk assessment;

Experience with risks associated with online merchants, e.g. regulated online gaming/gambling, is considered an asset;

Hands-on experience in developing and implementing compliance procedures and policies;

Experience in managing and leading a team;

Proven ability to influence teams and processes, manage regulatory escalations, and optimize onboarding workflows;

CAMS, CFE) are an asset.

Accommodations are available on request for candidates taking part in all aspects of the selection process.

We believe diversity of thought, background, and experience are essential to achieve our mission to simplify payments.