Compliance Advisor/ Manager

Primary Purpose of the Role

The Compliance Advisor/ Manager will report directly to and assist the Director, Compliance (RCM) in matters relating to applicable laws and regulations:

  • Bank Act (“BA”),
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Act (“PCMLTFA”),
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Regulation (PCMLTFR) including FINTRAC Guidelines,
  • CDIC Deposit Insurance Information By-law,
  • CDIC Differential Premium By-law,
  • Income Tax Act,
  • Canada Labour Code,
  • Personal Information Protection and Electronic Documents Act (PIPEDA),
  • OSFI Guidelines including OSFI Guideline E-13, OSFI Corporate Governance Guideline and OSFI Compliance Criteria,
  • FCAC Financial Consumer Protection Framework (FCPF) and other FCAC Regulations, etc.

Key Responsibilities and Accountabilities

  • Conduct risk assessment on new or changing regulations and maintain record of changes made to the inventory of legislation.
  • Regularly monitor regulatory and key government websites for significant changes in legislation and advising business units of new regulatory requirements and maintain an up-to-date tracker of business units’ action.
  • Establish, manage and monitor Ethidex by

– Assist the Director, Compliance in monitoring and tracking Ethidex self- assessments and Audit remediation action plans for reported compliance gaps/breaches and follow-up.

– Uploading periodic Ethidex updates promptly and notifying each business unit, documenting and completing timely reconciliation between Compliance regulatory website monitoring and regulatory updates received from Ethidex

– Periodically performing and documenting operational effectiveness of the assigned RCM Compliance control objectives with evidence based self-assessments and testing.

-Support the RCM Compliance Function in conduct periodic validation testing of business unit self-assessments and control effectiveness ratings.

  • Support the Director, Compliance in the review of third-party/vendor contracts/agreements, review Terms and Conditions and/or other official forms and maintain an up-to-date centralized list of all of outsourcing arrangements.
  • Monitor, review and record customers’ complaints as required under Financial Consumer Protection Framework (“FCPF”)
  • Periodically update Compliance training material
  • File OSFI Corporate returns (RRS) in an accurate and timely manner
  • Obtain applicable annual attestations and related party questionnaires from all members (Board of Directors) and senior management (“SMs”)
  • Manage Declaration of Tax Residence (“DTR”) /CRS management/reporting
  • File periodic FCAC reports accurately and in a timely manner.
  • Monitor and manage any litigations, claims and official requests such as Court orders and external letters from the CRA, Police and/or other law enforcement.
  • Assist RCM Compliance Function in oversight of Bank’s Regulatory Compliance Management framework including periodic revisions to RCM policies and procedures where appropriate.
  • Support the preparation of the CCO Report to the Board Committees and Senior Management – quarterly and annual RCM Compliance Reports including consolidation of Ethidex Remedial Action Plan
  • Ensure timely communication and reporting on RCM Compliance matters to the Parent bank.
  • Monitor the Bank’s internal policies and procedures for review and update and upload onto S-BASIC
  • Maintain knowledge of regulatory compliance, privacy and consumer protection laws, regulations and guidance documents
  • Support the Compliance department in any other assigned tasks relating to the overall adequacy of the RCM framework.

Education Requirements

Bachelor’s Degree or graduate degree in business, finance, law or a related field required

Work Experience Requirements·

  • 5-10 years of experience in a banking industry is required
  • Legal background is considered a significant asset
  • Demonstrated written and verbal skills essential for this role
  • Demonstrated experience working with highly confidential information
  • Strong time management skills – able to effectively prioritize work assignments
  • Ability to effectively present findings and recommendations; recognizing when matters require escalation to the management

People Management Experience Requirements: 3 yrs

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