Business Compliance Officer

President's Choice Financial; Toronto; On-site; CAD 65,000 - 85,000; Full time

Job summary

A leading financial services provider in Toronto is seeking a Business Compliance Officer to oversee the Regulatory Compliance Management System. The ideal candidate will ensure adherence to laws and regulations, manage compliance risks, and work closely with business teams to address compliance requirements. This role demands excellent communication skills and experience in financial services compliance.

Qualifications

• 3 years of relevant experience in financial services, ideally in Regulatory Compliance.
• Strong personal accountability and integrity.
• Ability to work independently towards deadlines.

Responsibilities

• Manage PC Bank’s Regulatory Compliance Management System.
• Review and implement controls for compliance adherence.
• Identify and address non-compliance issues.

Skills

Ability to communicate clearly

Knowledge of eGRC systems

Ability to prioritize effectively

Familiarity with sales practices

Excellent time management skills

Education

Bachelor’s degree

Tools

Microsoft Office

Job description

Referred applicants should not apply directly to this role.

All referred applicants must first be submitted through Workday by a current Loblaw Colleague.

Location :

500 Lake Shore Boulevard West, Toronto, Ontario, M5V 2V9

When you hire great people, great things can happen.

PC Financial offers unprecedented value to Canadians through payment products. We're a different kind of bank with a different type of team—we’re collaborative and supportive and have the freedom and responsibility to thrive. Our purpose is to make the everyday simple and better for our customers, and we strive to make every dollar worth more.

Proudly serving over 3 million customers, PC Financial continues to grow by offering payment solutions and services that reward our customers every day. As a subsidiary of Loblaws Company Inc., we share the CORE values of Care, Ownership, Respect and Excellence. We are dedicated to helping Canadians Live Life Well. Join us on our journey.

We are looking for a Business Compliance Officer who will manage PC Bank’s Regulatory Compliance Management System (RCMS) and support compliance oversight of our in-store sales channel in a key risk management role (second line of defense).

Reporting to the Senior Manager, Regulatory Compliance, the Business Compliance Officer will serve as a partner representing the Compliance organization collaborating with various Business stakeholders to ensure compliance with applicable laws and regulations, detect instances of non-compliance, and raise awareness through PC Bank’s oversight program and training.

The role combines knowledge of risk management with an understanding of the financial services related to PC Bank to identify regulatory developments and ensure continuing adherence to requirements.

What You'll Do

• Accountable for implementation and day-to-day management of PC Bank’s Regulatory Compliance Management System (RCMS)
• Maintain PC Bank’s RCMS inventory of all applicable governing legislation and controls within the business designed to ensure compliance with the legislation and / or detect instances of non-compliance
• Review new legislation or changes to legislation including working with the business to implement and enhance controls to ensure adherence to regulatory requirements
• Partake in the day-to-day Business Compliance Officer (BCO) oversight program designed to ensure awareness of governing legislation and identification of issues of non-compliance with governing legislation
• Execute risk assessment program and monitoring and testing program to evaluate the design and operating effectiveness of controls, and monitoring material exposures to regulatory risk
• Accountable for identifying instances of non-compliance and managing remediation of such issues as necessary
• Review business controls to ensure they are sufficient to meet regulatory requirements and identify control improvement opportunities
• Train and advise employees, including Business Compliance Officers, on compliance related matters
• Assist in the reporting of monthly reporting to the Operational Risk Management Committee including any material instances of non-compliance and quarterly reporting to the Conduct Review Committee of the Board on PC Bank’s overall state of compliance with applicable legislative provisions
• Participate in governance meetings for outsourced service providers
• Provide advice and support to Business stakeholders responsible for addressing compliance requirements
• Support ongoing implementation and day-to-day functionality of eGRC System in relation to PC Bank’s RCMS
• Develop and manage relationships with Business stakeholders to execute Bank’s Regulatory Compliance Management framework
• Support operation of the sales compliance program, focusing on PC Bank's consumer protection requirements related to sales practices.
• Identify and assess regulatory risks, evaluate the effectiveness of controls implemented by business units and review thematic areas to ensure compliance with applicable legislation related to market conduct and sales practices.
• Provide effective challenge to the Sales Team who supports in in-store sales channels in the form of reviewing materials submitted for the monthly BCO meeting or other key documents (i.e., documented risks and controls, performance management framework, compensation structure and plans for sales representatives, etc.).
• Establish, obtain and monitor metrics to provide oversight over sales practices risk, identify trends and / or gaps on a timely basis.
• Identify issues of non-compliance with regulatory requirements and work with the Business to manage remediation of the issues as necessary including identification of root cause and assigning a rating in accordance with the Bank’s Compliance Methodology

What You Bring

Bachelor’s degree with minimum of 3 years of relevant experience in the financial services industry, preferably within Regulatory Compliance, Internal Audit, Risk Management, Oversight or similar function

Ability to communicate clearly and effectively both verbally and in writing

Knowledge of and experience with eGRC systems

Ability to prioritize effectively and think critically in a fast-paced environment

Familiarity with current and emerging sales practices and / or consumer protection legislation

Strong personal accountability, honesty and integrity

A friendly, outgoing attitude with the ability to create partnerships with key business stakeholders

Excellent time management skills and ability to work independently towards deadlines

Proficiency in Microsoft Office (Excel, Word, PowerPoint, Visio)