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Money Laundering Reporting Officer



Accounting & Finance
Posted on Sunday, December 3, 2023
We are currently hiring full-time in the following Canada locations: Ontario, British Columbia, and Nova Scotia. If you are located outside of these provinces, you can still be considered as an applicant but the position will be on a contract basis.
About Plooto
82% of small businesses fail due to poor management of cash flow. Our vision is to enable the advancement of Small and Medium-sized Businesses (SMBs) by developing the tools & insights they need to maximize their cash flow. Over 10,000 businesses and their finance teams trust Plooto to automate their financial processes so they can focus on reaching their true potential.
About the Role
We are seeking an experienced Money Laundering Reporting Officer (MLRO) who will be a cornerstone in building and strengthening our compliance framework. The MLRO will be responsible for the development, implementation, and oversight of the company's anti-money laundering (AML) and counter-terrorist financing (CTF) strategies. The role requires an individual with a deep understanding of AML regulations and a strong track record in compliance within the financial services industry. The MLRO will work in close partnership with the risk team to integrate AML/CTF initiatives into the broader risk management framework, fostering a collaborative approach to compliance and risk mitigation across the organization.

What You'll Do

  • Lead the design and execution of our AML/CTF compliance program, ensuring it meets the evolving needs of the business and regulatory expectations.
  • Act as the principal point of contact with regulatory bodies and law enforcement on matters related to money laundering and terrorist financing.
  • Maintain up-to-date knowledge of applicable AML/CTF laws and regulations and communicate changes to senior management and relevant departments.
  • Conduct risk assessments to identify potential areas of compliance vulnerability and risk; develop and implement corrective action plans for resolution.
  • Oversee the monitoring and analysis of customer transactions to identify suspicious activities and ensure timely and accurate reporting of suspicious transactions to the relevant authorities.
  • Provide training and guidance to staff on AML/CTF compliance, including the development of training materials and conducting regular training sessions.
  • Develop and maintain the company's AML/CTF policies and procedures, ensuring they are implemented effectively across the business.
  • Engage with product and technology teams to integrate AML/CTF controls into our services and platforms.
  • Prepare regular reports for management and regulatory bodies outlining the effectiveness of the AML/CTF program and any significant compliance findings.
  • Coordinate with the internal or external audit as necessary to ensure ongoing compliance with AML/CTF regulations.

Your Background

  • Bachelor’s or Master’s degree in Law, Finance, Business Administration, or a related field.
  • Professional certifications related to AML/CTF, such as CAMS or CFE.
  • Minimum of 7 years of experience in a compliance role with a focus on AML/CTF within the financial services or fintech industry.
  • Demonstrated experience in interacting with regulatory bodies and financial institutions.
  • Strong analytical skills and experience in conducting comprehensive AML/CTF investigations and audits.
  • Exceptional leadership and communication skills, with the ability to influence and drive compliance culture across the company.
  • Detail-oriented with a high degree of discretion and confidentiality.
  • Familiarity with compliance monitoring tools and technologies.
Why Become a Plootonian?
If you are looking to make a professional impact, look no further. Plooto is currently in hyper-growth mode, looking to 10x our customer base. The biggest reason why SMBs close their doors is poor management of finances and cash flow. Plooto solves that problem! Plooto is dramatically changing the payment automation category in North America. Our unrivalled product experience fulfills a crucial need in the SMB segment. We have an extremely strong product-market fit with a massive opportunity ahead of us. An experienced and diverse group of FinTech veterans backs us. You will have the opportunity to make history and change the course of this sector for many years to come. Join Plooto and be a part of making history.