RECOMMENDED!!In Canada, an estimated $5 to $15 billion is laundered

  

In Canada, an estimated $5 to $15 billion is laundered each year (RCMP, 2011). Staggering numbers, aren’t they? It is no surprise then that companies, especially those in financial services, have been stepping up their game over the last few years to address money being laundered through their organizations.One of the main roles created to help companies prevent money laundering is a Director, AML or Anti-Money Laundering. A number of different professional designations can be listed in the job description depending on the company. It is common to see “accounting designation preferred” but you’ll also see professional designations such as CFA (Chartered Financial Analyst) and CIM (Canadian Investment Manager) listed. This senior position is responsible for all aspects of the anti-money laundering and anti-terrorist financing regime, including the development of policies and procedures, providing training to help everyone at the company understand what to look for, reviewing business activities at the company, and testing the efficacy of a company’s compliance with Canadian legislation (CIBC, n.d.).————–Canadian Imperial Bank of Commerce (CIBC). (n.d.). Senior Director, Enterprise AML Governance. Retrieved from https://cibc.taleo.net/careersection/1/jobdetail.ftl?job=1299681Royal Canadian Mounted Police (RCMP). (2011). Money Laundering.Retrieved from http://www.statcan.gc.ca/pub/85-005-x/2011001/article/11454-eng.htm#r2