Manager, Regulatory Compliance

June 20 2019
Industries Bank, Insurance, Financial services
Categories Pharma, Biotech, Sciences, R&D, Scientific and Regulatory affairs
Ottawa, ON

Scope of Position

The Manager Regulatory Compliance reports to the Vice President Enterprise Risk (Chief Compliance Officer and Chief Privacy Officer). Responsibility and accountability encompasses program content, design and enterprise wide implementation of the regulatory compliance management framework, including continuing education and staying up to date on new and changes in regulations. The Manager Regulatory Compliance must work closely with all business partners to ensure a sound compliance program is operating effectively; must provide regular reports to board committees and to regulators; and oversee regulations for the provincially-regulated credit union and federally-regulated schedule 1 bank.

Major Responsibilities

Responsible and accountable for regulatory compliance of Alterna Savings and Alterna Bank, in support of the Compliance mandate. In particular:

Being responsible, accountable and a change agent for program content, design, enterprise-wide implementation, and continued oversight:

  • Of robust overall Regulatory Compliance Management programs for each of the credit union and for the bank.

Being responsible, accountable and a change agent for program content, design, enterprise-wide implementation, and continued oversight of specific regulations:

  • Privacy,
  • Consumer Protection: Financial Consumer Agency of Canada (FCAC) and Financial Services Commission of Ontario (FSCO),
  • Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standard (CRS).

Providing direction and overseeing the implementation of requirements and sustainability of controls by responsible departments for all other regulatory requirements – including (but not limited to):

  • OSFI, DICO and FSCO,
  • Bank Act and Caisses Populaires & Credit Unions Act,
  • Access for Ontarians with Disabilities,
  • CDIC,
  • Occupational Health & Safety,
  • CRA and Revenue Quebec,
  • Human Rights,
  • Pension Act (CPP/QPP).

Leading regulatory change projects, initiatives and working groups.

Specific responsibilities for each of the above include:

  • Oversight of the risk assessment process and appropriate mitigation
  • Oversight of the existence of adequacy and testing of controls
  • Oversight of the self-assessment process
  • Oversight of training content, effectiveness and completion
  • Creation and enforcement of policies and procedures, ensuring they are kept up to date and approved by a senior officer
  • Oversight of regulatory reporting
  • Oversight of breach process management
  • Reporting to Executive Leadership Team and Board committees on pertinent information about program adequacy and issues
  • Keeping abreast of the evolution and changes in regulations and relevant guidance; and
  • Directing the implementation of regulations in business processes and procedures.

Manage the day to day operations and activities as it relates to the Compliance Department and staff. In particular:

  • Develop, manage and implement and annual plan
  • Determine, plan, manage operational budget
  • Negotiate vendor contracts
  • Execute the performance management process
  • Ensure that development goals are met
  • Ensure that adequate resources and tools are available
  • Maintain a motivated and engaged team that is effective and efficient, and
  • Ensure internal processes are documented and operating efficiently

Expectations / Outcomes

  • Adequate regulatory compliance management framework is maintained
  • Risks are identified in a proactive and urgent manner to minimize the losses and risk exposure to the organization
  • Compliance staff are effective and efficient in the completion of their duties and contribute to the success of the organization,
  • Regulatory reporting is accurate, complete and delivered in accordance to set timelines and requirements, and
  • Sound regulatory compliance, awareness and practices are adopted and maintained by all areas of the organization.

Qualifications

1. Education / Certification / Experience

  • University degree in Business, Law, Economics or related discipline – or equivalent work experience
  • 10 years of banking / financial services (or related) experience
  • 5 years’ progressive experience in a regulatory compliance, regulatory audit and/or legal role
  • 5 years of direct management experience
  • Knowledge or completion of risk management related courses/certifications (or related experience) is considered an asset

2. Knowledge / Skills

  • Strong working knowledge and understanding of all regulations affecting the Credit Union and Bank
  • Solid knowledge of Regulatory Compliance Management framework components and linkages
  • Specialized knowledge in Privacy
  • Understanding of risk assessment methodology
  • Good knowledge of banking processes and controls
  • Proficiency with Outlook, Word and Excel is required

3. Competencies

  • Utmost dependability
  • Solid managerial leadership skills to effectively mentor and coach others
  • Excellent written and verbal communication skills
  • Proven ability to work under pressure and meet deadlines
  • Very strong attention to detail
  • Strong influencing skills
  • Exemplary work ethic and conduct
  • Strong analytical and problem solving skills
  • Proven ability to challenge inefficient and ineffective processes

About the Alterna Financial Group

Alterna Savings and Credit Union Limited (Alterna) has been the good in banking for over 110 years!

Alterna is made up of Alterna Savings and Credit Union Limited and its wholly-owned subsidiary, Alterna Bank. Together, we have $7.9 billion in assets under administration. Our members and customers benefit from industry leading online brokerage and investment management services and have access to the largest surcharge-free ATM network in Canada with THE EXCHANGE® Network, providing access to over 3,700 ATMs.

Alterna Savings has been charting new directions to help Ontarians and achieve their financial dreams and build strong, vibrant communities for more than a century. As the first full-service, member-owned co-operative financial institution outside Quebec, Alterna Savings shares our expertise with more than 164,000 members through a network of 32 credit union branches across Ontario, including our federated partner Peterborough Community Savings, a division of Alterna Savings and Credit Union Ltd.

Alterna Bank is one of the most innovative banks in Canada and the first to offer all Canadians an end-to-end digital mortgage experience. Customers also get fully-digital financial services that include our highly competitive high-interest eChequing, eSavings, RRSP and TFSA products available online and through mobile banking.

For more information please visit www.alterna.ca and www.alternabank.ca and connect with us on https://twitter.com/alternasavings.

Compensation

*At Alterna, we offer a competitive total rewards program and an opportunity to truly make a difference. If you put people first and value excellence and integrity, we hope you'll apply!

* Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills and competencies outlined above.

* Alterna is compliant with the Ontarians with Disabilities Act. If you have a disability, please contact the recruiter to let us know how we can accommodate you.

Apply now!

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