Senior Manager, Business Compliance

President's Choice Financial; Toronto; On-site; CAD 100,000 - 130,000; Full time

Job summary

A leading financial services provider in Ontario is seeking a Senior Manager, Business Compliance to supervise regulatory compliance management. This role involves providing compliance advisory support, managing regulatory reporting, and leading compliance initiatives within the organization. The ideal candidate has extensive experience in compliance and risk management within a Canadian financial institution, alongside strong leadership and communication skills.

Qualifications

• Minimum 8 years experience in Compliance/Risk at a Canadian Financial Institution.
• 5+ years managing complex projects.
• Leadership experience working with cross-functional teams.

Responsibilities

• Provide compliance advisory support to the business.
• Lead external regulatory reporting for the bank.
• Review annual risk assessments and compliance test plans.

Skills

Compliance / Risk knowledge

Leadership

Analytical thinking

Communication skills

Relationship building

Coaching and mentoring

Education

Post-secondary education in business or related field

Tools

Regulatory Compliance Risk Management Solutions

Job description

Overview

Why This Role is Important

We are looking for a Senior Manager, Business Compliance who will supervise PC Bank’s Regulatory Compliance Management System (RCMS) in a key risk management role (second line of defense), to serve as a credible business advisor and partner representing the Compliance organization to the Business to help ensure corporate initiatives and Business processes comply with applicable laws and regulations. The role combines knowledge of risk management with a comprehensive understanding of the financial services related to PC Bank to identify regulatory developments and emerging compliance risks.

At PC Bank, we run lean and smart, reliant on collaborative, energized people who are jazzed by what they do and ready to bring their authentic selves to work to make their mark and challenge the status quo. This role would fit a compliance professional who is motivated by any challenge and thrives in autonomous lean / flat environments where change is embraced.

Responsibilities

• Provide compliance advisory support with a primary focus on PC Bank corporate functions (HR, treasury, legal / privacy) and consumer protection programs (market conduct obligations, sales practices, fraud, complaints and customer operations): Lead and participate in key strategic projects and provide advice on application of compliance requirements, such as new products or initiatives, process development, development of controls and monitoring, remediation / corrective action of compliance breakdowns, and change in law or regulation related to areas of focus; 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 areas of focus; 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; Develop or review training to educate the business on compliance and emerging risk / regulatory matters related matters specific to areas of focus; 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; Provide effective challenge and oversight over the Bank’s third-party engagements with respect to consumer protection activities, including complaints; Establish, obtain, and monitor metrics to provide oversight over sales practices risk and complaints to identify trends and / or gaps on a timely basis.
• Support the management and execution of PC Bank’s RCMS; Lead the external regulatory reporting for the bank ensuring proper disclosure and execution of the Bank’s various public commitments and quarterly complaints reports (e.g., designated complaints quarterly report, senior’s code, complaints, director’s report, public accountability statement, FCAC market data gathering / annual assessment); Support the CCO during regulatory reviews and exams; Review annual risk assessments, compliance test plans and semi-annual RCMS attestations to handle the Bank’s adherence to controls and legislation; Support Bank’s legislative change program. Work with the compliance team to ensure ongoing review and identification of new legislation or changes to legislation including working with the Business to implement and improve controls to ensure adherence to regulatory requirements; Ensure risks are appropriately identified / communicated and appropriate controls are identified, captured, added to the RCMS to mitigate regulatory risk within PC Bank RCMS; Contribute to monthly compliance reporting to Business Compliance Operating Committee and 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.

Qualifications

• Experience in Compliance / Risk at a Canadian Financial Institution for at least 8 years
• 5+ years managing complex projects, including operations, process change, policy change, new initiatives
• Post-secondary education in business, commerce, economics or a related field, or equivalent experience
• Leadership experience leading a team and working with cross functional teams / vendors
• Knowledge of and experience with Regulatory Compliance Risk Management Solutions
• Familiarity with current and emerging sales practices and / or consumer protection legislation
• Ability to provide coaching and mentorship
• An analytical and creative thinker, with a track record of delivering results
• Strong communication and relationship building skills
• The ability to deal with ambiguity and make intelligent assumptions
• Strong personal responsibility, honesty, and integrity
• A friendly, outgoing attitude; with the ability to establish relationships with key business partners