Director, Compliance Advisory Consumer Protection

HomeEquity Bank; Toronto; Hybrid; CAD 100,000 - 130,000; Full time

Job summary

A leading Canadian financial institution is seeking a Director of Compliance Advisory Consumer Protection in Toronto. This role involves providing compliance leadership and advice on regulatory matters to support business growth. Candidates should have significant experience in compliance within a financial institution, excellent communication skills, and a strong background in banking regulations. The position offers a hybrid working environment with a competitive salary and benefits.

Benefits

Extended health and dental benefits

Employee & Family Assistance Program

Employer-Matched Group Retirement Savings Plan

Employee Share Investment Plan

Well-being initiatives

Employee corporate discount for GoodLife Fitness

Qualifications

• Significant work experience in compliance, risk management, or legal role in a financial institution.
• Experience with audit and regulatory exams.
• Proven record of innovation and process improvements.

Responsibilities

• Lead the Compliance Advisory function and provide expert advice.
• Manage relationships with the Financial Consumer Agency of Canada (FCAC).
• Develop and maintain policies to ensure compliance with regulations.

Skills

Communication skills

Judgment

Relationship building

Independent work

Education

Undergraduate degree in Business, Finance, or related field

Post-graduate degree or related designations (e.g., Law degree, CFA)

Job description

About the job

Who We AreHomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.Our Values, Our PassionAt HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

• Customer-Focused. Passionate Advocates
• Courage to Act. Do the Right Thing
• One Team. One Vision
• Think Long-Term. Ever-Evolving
• Be Exceptional. Inspire Greatness

Position SummaryAs Director, Compliance Advisory Consumer Protection, you will bring together leadership, compliance expertise, and relationship management to help our customer-focused business grow. You will provide advise to the business on regulatory matters, including consumer protection and market conduct obligations. You have a strong background in banking regulations and are a relationship builder who has experience in influencing and consulting with a diverse group of business leaders and corporate stakeholders.MAJOR ELEMENTS OF THE ROLEKey Accountabilities Of This Position Include

• Lead the Compliance Advisory function which is responsible for providing expert advice on business initiatives and processes
• Provide advice on regulations impacting new and existing products and initiatives
• Provide advice to the business on the implementation of regulatory changes
• Manage the relationship and interactions with the Financial Consumer Agency of Canada (FCAC)
• Oversee Consumer Protection related regulations, including Sales Practices and Complaints
• Oversee the status of management corrective actions in response to bank regulatory compliance issues
• Develop and maintain comprehensive policies, procedures and other regulatory compliance risk controls to ensure the Bank’s ongoing compliance with applicable laws, regulations, rules and guidelines
• Oversee the provision of compliance training to the Bank to ensure adequate knowledge and understanding of regulatory compliance risk and its related policies and procedures
• Maintaining a strong working knowledge of applicable regulatory requirements and facilitating the management of regulatory compliance risk by proactively advising the business units of new regulations and legislation, industry compliance trends, regulatory priorities and emerging compliance trends
• Understand expectations of auditors and regulators and partner with the Canadian Bankers’ Association (CBA) to represent the views of HomeEquity Bank
• Provide guidance and supervision to members of the Compliance Team and ensure they remain current on regulatory changes, continuously develop their skill to meet Compliance Program expectations, and provide effective business support and challenge
• Ensure effective execution of compliance projects by direct reports
• Mentor, coach and assist compliance team members and 1B staff in the development not only of their regulatory compliance knowledge but also their ability to identify, prioritize and execute compliance activities

QualificationsSKILLS AND EXPERIENCE REQUIRED

• Undergraduate degree in Business, Finance, or a related field preferred. Post-graduate degree or other related designations e.g. Law degree, CFA or equivalent experience.
• Significant work experience within compliance, risk management, or a legal role in a regulated financial institution
• Demonstrated working experience with audit and regulatory exams
• Proven record of innovation and process improvements
• Experience implementing and managing Compliance programs

Attributes

• Superior communication skills (written and oral) with the ability to understand and translate complex technical issues into business impact
• Strong judgment and ability to effectively process information and draw meaningful/persuasive conclusions
• Proven ability to build and foster professional relationships and influence others effectively at senior management, peer and staff levels
• Ability to adapt to rapidly changing business needs and priorities
• Self-motivated and able to work independently and as part of a team having a “hands on” approach as well as appreciate diversity of thought and opinions
• Demonstrated ability to manage multiple complex engagements simultaneously, and to prioritize work and efforts of team effectively

WORKING CONDITIONS UNIQUE TO JOB

• Hybrid work environment

WHY WORK AT HOMEEQUITY BANK?Great EnvironmentHomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.A Dynamic Culture – With People at the CentreWe believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.Growth and OpportunitiesWe provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.Celebrating Great Work and PeopleWe believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.The Perks

• HomeEquity Bank offers a competitive total rewards package that includes:
• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.Please note that our successful candidate is required to complete a background check.Stay in the KnowAboutFind out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:LinkedInYoutubeFacebookTwitterInstagramChip.caJoin Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.