Regulatory Compliance Lead

DUCA Financial Services Credit Union; Toronto; On-site; CAD 69,000 - 81,000; Full time

Job summary

A community-focused credit union is seeking a Regulatory Compliance Lead to manage compliance programs and ensure adherence to regulations. The ideal candidate has extensive experience in financial services compliance, particularly in FATCA and Privacy requirements. The role involves risk identification, compliance testing, and collaboration with senior management. This full-time position offers a starting salary of $69,956 with potential for performance-related incentives.

Qualifications

• Minimum of four years of direct experience in financial services Regulatory Compliance.
• Strong knowledge of FATCA/CRS and PIPEDA.
• Excellent verbal and written communication skills.

Responsibilities

• Identify regulatory compliance requirements for an Ontario credit union.
• Provide contextual support to business units management on compliance risk.
• Lead the execution of the Privacy program.

Skills

Expert level skills in MS Office

Critical thinking

Analytical skills

Education

Degree or diploma in law, commerce or related field

Tools

Resolver

Job description

Why DUCA?

We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.

We exist to help People, Businesses and Communities Do More, Be More, and Achieve More.

DUCA ( www.duca.com ) is distinguished for the following:

• Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
• Competitive rates.
• Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
• Profit sharing among Members.
• Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7
• A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with DUCA means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.

Regulatory Compliance Lead

DUCA is looking for aRegulatory Compliance Leadto join our growing team!

Job Purpose & Summary

The primary responsibility of the Regulatory Compliance Lead is to support the development, implementation and execution of DUCA’s Regulatory Compliance Management Program, excluding the AML/ATF Program*.

*Please Note: The CAMLO has the primary responsibility for the AML/ATF Program. However, the Regulatory Compliance Lead will be responsible for executing the quality assurance testing of elements of the AML/ATF Program.

The Regulatory Compliance Lead utilizes the organization’s regulatory compliance framework, systems and applications to perform regulatory compliance risk identification, control identification and evaluation, gap analysis, and any additional regulatory compliance activities that help enhance the state of organizational regulatory compliance at DUCA.

The Regulatory Compliance Lead will be responsible for supporting the Vice President, Legal & Compliance in managing regulatory compliance programs, collaborating with Compliance department senior management, some third-party service providers, and regulatory bodies, including, but not limited to FSRA, CRA, OPC, and DUCA’s internal and external auditors. In addition, there will also be some engagement with DUCA front-line business units and other functional areas within DUCA.

The Regulatory Compliance Lead will support the Privacy Officer and be relied upon by the Vice President, Legal & Compliance to lead the execution of the Privacy program on an enterprise-wide basis, including any and all subsidiaries.

Key Accountabilities & Duties

• Identify regulatory compliance requirements applicable to an Ontario credit union, including but not limited to: FATCA/CRS, Privacy/PIPEDA, CASL, Market Conduct Code, Credit Unions and Caisses Populaires Act, 2020, etc.; and
• Provide Compliance department senior management and DUCA business unit leaders with the background, context and other explanatory information sufficient to ensure an organizational understanding of regulatory compliance requirements; and
• Provide contextual support, as required, to operational business units in the management of regulatory compliance risk through functional operationalized processes and procedures; and
• Primary functional responsibility for the implementation, maintenance, and support to business units for DUCA’s organizational regulatory compliance risk management software (i.e. Resolver); and
• Utilize Resolver, and other applications (as required), to identify regulatory compliance risks, regulatory compliance controls, regulatory compliance gaps, and the allocation of regulatory risk to business unit owners; and
• Conduct planned compliance testing (Quality Assurance) across all aspects of the Regulatory Compliance programs and issue reports outlining the results of those activities; and
• Provide periodic reporting, including quarterly Regulatory Compliance reports, and monthly Management Compliance and Operational Risk Committee (MCORC) on any identified regulatory compliance deficiencies or gaps following the performance of self-assessments, control assessments and/or compliance testing; and
• Provide data and statistics to the Vice President, Legal & Compliance for utilization of senior management and the Board to evidence the state of organizational regulatory compliance; and
• Assist in the maintenance of all Level 1 Regulatory Compliance policies on an annual basis; and
• Lead the execution of DUCA’s Privacy program by responding to and managing privacy breaches, leading investigations and addressing complaints, reporting on conclusions or finds internally or externally when applicable; and
• Any other duties and projects as may be assigned.

Occupational Experience & Education Requirements

• Degree or diploma in a law, commerce or related financial services field; and
• Minimum of four (4) years of direct experience in financial services Regulatory Compliance, including dispute resolution, Privacy, CASL and FATCA/CRS; and
• Completion of dispute resolutions courses considered an asset.

Knowledge, Skills & Attributes

• Expert level skills in MS Office products, specifically Excel, Word and PowerPoint; and
• High level of integrity with the ability to deal with confidential and sensitive Member and employee information with a high degree of professionalism; and
• Strong knowledge of FATCA/CRS, Privacy/PIPEDA, CASL, Market Conduct Code, Credit Unions and Caisses Populaires Act, 2020, requirements as they pertain to the operation of an Ontario credit union; and
• Ability to make decisions independently using sound judgment, work well under pressure and shifting priorities while meeting multiple or conflicting deadlines; and
• Critical thinking and analytical skills with a focus on problem solving and continuous improvement; and
• Meticulous attention to detail and very strong organizational and prioritization skills; and
• Excellent verbal and written communication skills with strong interpersonal skills to successfully interact, encourage, and influence at all organizational levels, including senior leadership teams; and
• Strong execution skills with attention to detail and focus on clear, realistic action steps and timelines.

Working Conditions

Normal office environment/model. Potential for longer hours given certain demands of the job and reporting deadlines.

Department:Compliance Department

Primary Location:Corporate Office - 5255 Yonge Street, North York, M2N 6P4

Employment Status:Full-Time

Hours per Week:38

Salary: The annual salary range for this position starts at $69,956 . Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. Depending on the position, DUCA’s total compensation package may include incentive compensation tied to company and individual performance or other benefits.

Number of Vacancies:1

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Qualified applicants are encouraged to submit their application. Applications must include a resume.

We thank all applicants but only those considered for an interview will be contacted.