Business Regulatory Compliance - Vice President

J.P. Morgan; Toronto; On-site; CAD 150,000 - 250,000; Full time

Job summary

A leading financial services firm is seeking a Vice President of Business Regulatory Compliance to ensure adherence to critical regulatory frameworks. This senior leadership role involves developing compliance strategies, collaborating with various teams, and engaging with regulatory bodies. The ideal candidate will have extensive experience in compliance, strong analytical skills, and a proven track record in leadership within a complex regulatory environment.

Qualifications

• Minimum of 10 years of experience in compliance or a related field, with at least 5 years in a leadership role.
• Demonstrated success in developing and implementing compliance programs within a complex regulatory environment.
• Prior or working knowledge of FINTRAC, the Bank of Canada, and other relevant regulators is beneficial.

Responsibilities

• Develop and implement compliance strategies to ensure adherence to regulatory frameworks.
• Collaborate with Legal, Risk, Controls, and Compliance teams for regulatory adherence.
• Serve as the primary liaison with regulatory bodies and industry associations.

Skills

Regulatory Knowledge

Compliance Strategy Development

Analytical Skills

Risk Assessment

Project Management

Leadership

Communication

Stakeholder Engagement

Problem-Solving

Change Management

Attention to Detail

Interpersonal Skills

Ethical Judgment

Training and Development

Adaptability

Education

Bachelor’s degree in Business, Law, Finance, or a related field

Job description

The Vice President of Business Regulatory Compliance is a senior leadership role responsible for ensuring the organization adheres to critical regulatory frameworks, including the Retail Payment Activities Act (RPAA), Money Services Business (MSB) regulations, the Canadian Code of Conduct for Acquirers, the Personal Information Protection and Electronic Documents Act (PIPEDA), and the Accessibility for Ontarians with Disabilities Act (AODA). This role involves close collaboration with Legal, Risk, Controls, and Compliance teams to maintain regulatory adherence and address new regulatory developments impacting the business.

Job Responsibilities:

Regulatory Compliance and Adaptation:

• Develop and implement comprehensive compliance strategies to ensure adherence to RPAA, MSB regulations, CDN Code of Conduct for Acquirers, PIPEDA, and AODA.
• Regularly review and update the organization’s policies and procedures to align with current regulatory requirements.
• Monitor the regulatory landscape for new developments, proactively adjusting compliance programs to address new requirements and expanding the role's scope as needed.

Legal and Regulatory Change Management:

• Participate in Legal and Regulatory Change Management (LRCM) Forums to identify and assess Material Legal, Regulatory, and Rule (LRR) Changes impacting the organization.
• Develop and implement change implementation plans for Material LRR Changes, ensuring timely updates to policies, standards, procedures, and controls.
• Collaborate with Lines of Business (LOBs), Corporate Functions (CFs), and Legal, Risk, Controls, and Compliance teams to conduct impact assessments and ensure compliance with new regulatory requirements.

Program Management:

• Collaborate with subject matter experts (SMEs) to prepare the organization for compliance audits and assessments, ensuring all necessary documentation and processes are in place.
• Oversee the development and maintenance of compliance programs, ensuring they are effective and up-to-date.
• Design and implement communication and training programs to educate employees about compliance requirements and best practices.

Stakeholder Engagement and Leadership:

• Serve as the primary liaison with regulatory bodies and industry associations, representing the organization in compliance-related matters.
• Lead efforts to engage internal stakeholders, including legal, finance, and operations teams, to ensure a unified approach to compliance.
• Provide regular updates to senior leadership on the status of compliance initiatives and any emerging regulatory issues.
• Demonstrate leadership by fostering a culture of compliance and ethical behavior throughout the organization.

Qualifications:

• Extensive knowledge of RPAA, MSB regulations, CDN Code of Conduct for Acquirers, PIPEDA, and AODA.
• Minimum of 10 years of experience in compliance or a related field, with at least 5 years in a leadership role.
• Strong analytical and problem-solving skills, with the ability to interpret complex regulations and translate them into actionable compliance strategies.
• Excellent communication and interpersonal skills, with the ability to influence and engage stakeholders at all levels of the organization.
• Bachelor’s degree in Business, Law, Finance, or a related field.
• Demonstrated success in developing and implementing compliance programs within a complex regulatory environment.
• Prior or working knowledge of FINTRAC, the Bank of Canada, and other relevant regulators is beneficial.
• Certifications such as Certified Anti-Money Laundering Specialist (CAMS), Certified Regulatory Compliance Manager (CRCM), and Project Management Professional (PMP) are beneficial.
• Experience with Legal and Regulatory Change Management processes and forums is highly desirable.

Here are the top 15 skills that would be important for applicants to have:

Regulatory Knowledge:Deep understanding of relevant regulations such as RPAA, MSB, PIPEDA, AODA, and the Canadian Code of Conduct for Acquirers.

Compliance Strategy Development:Ability to develop and implement effective compliance strategies and programs.

Analytical Skills:Strong ability to analyze complex regulations and translate them into actionable compliance strategies.

Risk Assessment:Proficiency in identifying, assessing, and mitigating compliance risks.

Project Management:Capability to manage multiple compliance projects and initiatives effectively.

Leadership:Strong leadership skills to guide and influence teams and stakeholders.

Communication:Excellent verbal and written communication skills for clear and effective interaction with stakeholders at all levels.

Stakeholder Engagement:Ability to engage and collaborate with internal and external stakeholders, including regulatory bodies.

Problem-Solving:Strong problem-solving skills to address compliance challenges and find effective solutions.

Change Management:Experience in managing and implementing change in response to evolving regulatory requirements.

Attention to Detail:Keen attention to detail to ensure accuracy and compliance with regulatory standards.

Interpersonal Skills:Strong interpersonal skills to build relationships and work effectively with diverse teams.

Ethical Judgment:High ethical standards and judgment to ensure compliance and integrity in all actions.

Training and Development:Ability to design and deliver compliance training programs to educate employees.

Adaptability:Flexibility to adapt to changing regulatory landscapes and business needs.