Compliance Manager & AML Officer

About Paramount Commerce

Paramount Commerce is a prominent Canadian fintech firm based in Toronto, Ontario, with over two decades of history since the early 2000s. They specialize in improving payment methods by enabling direct bank account payments, avoiding credit cards and e-wallets, with a strong focus on security, risk management, and data integrity.

Seeking to extend their reach globally, they invite innovative professionals to join their team and contribute to evolving the fintech landscape.

Role Overview

The company is hiring a Compliance Manager & AML Officer to play a vital role in the Second Line of Defence (2LoD). This position involves partnering with the Director of AML FIU & High Risk Client Management to handle complex financial crime risks, oversee enhanced due diligence (EDD) processes, and ensure regulatory compliance operates at an exemplary standard. The role demands a proactive and hands-on approach suitable for fast-paced fintech environments.

Primary Responsibilities

• Conduct ongoing transaction monitoring of electronic funds transfers (EFT) to identify unusual activity patterns.
• Perform in-depth investigations related to financial crime, addressing sanctions and politically exposed person (PEP) alerts.
• Recommend risk-based decisions for offboarding clients when necessary.
• Manage high-risk client onboarding with EDD and Super Enhanced Due Diligence (SEDD) processes, including temporary KYC/CDD exception workflows in collaboration with senior management and the CAMLO.
• Serve as the key escalation point for complex onboarding cases.
• Ensure accurate and timely regulatory filings to FINTRAC, including Suspicious Transaction Reports (STRs) and Electronic Funds Transfer Reports (EFTRs).
• Monitor regulatory changes and assist in updating company policies and procedures accordingly.
• Maintain the AML/Anti-Terrorist Financing (ATF) risk assessment methodology relevant to the EFT products.
• Prepare documentation for regulatory audits, legal subpoenas, and track corrective action plans.
• Support third-party risk evaluations.
• Develop and deliver AML/ATF focused training modules for teams handling high-risk activity, executives, and board members, including tracking training completion and revising materials as procedures evolve.

Candidate Profile

• Proven experience within a second line of defence role related to AML operations, financial crime investigations, or managing high-risk clients in a regulated financial services environment.
• Expert understanding of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), FINTRAC requirements, economic sanctions, and the Retail Payment Activities Act (RPAA).
• Hands-on expertise in evaluating intricate corporate structures, handling EDD/SEDD processes, and assessing high-risk customer portfolios in a high-volume payments setting.
• Ability to make autonomous, risk-oriented decisions and escalate nuanced cases appropriately.
• Exceptional technical writing and reporting skills to produce clear procedural documents, thorough investigation reports, STR submissions, and executive-level risk analyses.

Compensation & Benefits

• Salary range of CAD 90,000 to CAD 130,000 annually, dependent on experience and qualifications.
• Performance-based bonus structure.
• Generous vacation and summer Fridays.
• Health and dental insurance plus wellness spending account.
• Employer-matched retirement savings plan.
• Hybrid work arrangement with in-office presence on Thursdays in Toronto.
• Provision of quality hardware for work.
• Parental leave top-up program.
• Birthday day off.
• Quarterly social events and volunteer opportunities.

Diversity & Inclusion

The company is committed to equitable and inclusive hiring practices, welcoming applicants from diverse backgrounds and providing accommodations during the recruitment process upon request.

Additional Information

English proficiency may be required for collaboration with colleagues and partners outside Quebec.