Correct.
First, remove the oil slinger from on top of the crank gear. Then you should be able to see the timing mark on the crank gear.
And, I'm pretty sure the keyways in the crank for the balancer and the crank gear are in line with one another. So, if the crank gear key is where it appears to be based on the slinger, your crank gear key may have sheared. If so, lining them up now will do no good. You will have to put the gears on and align the dots first, then go back and put the chain on the gears and install as a set.