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.
As we strengthen our position in Canada, we are strategically positioning ourselves for global expansion. To achieve our goals, we are seeking talented professionals who can push the boundaries of innovation, contributing to our growth across Canada and worldwide. Join us at Paramount Commerce, where we not only follow fintech trends but shape them.
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.
What are we looking for?
- Leadership and Strategic Oversight
- 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);
- Provide mentorship and oversight to sales, fostering a culture of compliance excellence and continuous improvement;
- 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;
- Provide leadership, guidance and coaching to direct reports.
- 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;
- Create and maintain customer files in source systems based on obtained KYC, CDD, and EDD measures;
- Conduct periodic and trigger-based refreshes of KYC, CDD and EDD information;
- Perform ongoing monitoring of business relationships in conjunction with Second Line of Defence;
- Identify and escalate red flags and other potentially suspicious activity to the Second Line of Defence without undue delay, both at onboarding and for the duration of the business relationship.
- Stakeholder Engagement and Advisory
- 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
- Process Development/Improvement & Operational Efficiency
- Establish clear SLAs and KPIs for onboarding timeframes, ensuring an optimal balance between customer experience and compliance integrity;
- Take ownership and drive efficiency, scalability, and compliance effectiveness
What we are looking for:
- 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;
- Excellent critical thinking and problem-solving skills;
- Strong business-oriented mindset with the ability to balance compliance and operational goals;
- Self-motivated and proactive with the ability to work independently and collaboratively;
- Demonstrated strong written and verbal communication skills;
- Relevant certifications (e.g., CAMS, CFE) are an asset
At Paramount Commerce, we are proud to be an equal opportunity employer. We practice ethical and fair hiring processes and strongly encourage applications from diverse backgrounds. Accommodations are available on request for candidates taking part in all aspects of the selection process.
We are committed to creating a place for our employees to be their authentic selves. We believe diversity of thought, background, and experience are essential to achieve our mission to simplify payments.
