Senior Manager, Canadian Banking Advisory

Purpose of the Job

The Senior Manager, Canadian Banking Advisory is the subject matter expert in business and market conduct regulatory compliance requirements applicable to Equitable Bank and Equitable Trust’s mortgage and home equity lines of credit, registered deposit products, reverse mortgages, insurance lending, commercial lending, and consumer lending products. The individual is responsible for providing advisory on existing and new products and services, and oversight and challenge on regulatory compliance management program activities. 

This position reports to the Senior Director, Deputy Chief Compliance Officer.

The role will also provide the opportunity to apply critical thinking, analytical and problem-solving skills and be relied upon as a key advisor to the first line of defense by providing subject matter expertise and by delivering strategic advice. The incumbent will exercise a significant degree of managerial and technical latitude in the performance of his/her duties.

Main Activities:

• Main Activities:

Canadian Banking Compliance (60%)

• Deliver day to day compliance advisory for business and market conduct regulatory compliance requirements applicable to Equitable Bank and Equitable Trust’s mortgage and home equity lines of credit, registered deposit products, reverse mortgages, insurance lending, commercial lending, and consumer lending products.
• Collaborate with stakeholders across financial and operational risk to assess the risks of new and material changes to products and services, processes or systems through the New Initiative Risk Assessment. Identify compliance risks and provide recommendations for mitigating controls. 
• Develop, maintain and regularly review and compliance policies to communicate internal requirements related to compliance with business and market conduct requirements. Work with cross-functional stakeholders to ensure policies are tailored to business units.
• Regularly review customer facing documents and information to ensure Equitable Bank and Equitable Trust and its subsidiaries and affiliates (the “Bank”) are compliant with all market and business conduct requirements including the Bank Act, FCAC Guidelines, CDIC, FATCA/CRS and unclaimed property.
• Review and provide feedback on marketing collateral from a regulatory compliance standpoint. 
• Identify compliance gaps and work closely with the business to address those gaps in a timely manner in accordance with Equitable Bank’s Regulatory Compliance Management program. 
• Work collaboratively with Business Unit business to ensure their processes appropriately reflect existing and new or changed regulatory requirements.
• Contribute to regular compliance reporting to senior management and the board including the quarter Chief Compliance Officer opinion. 
• Monitor and evaluate emerging legislation, as well as industry trends and developments as they relate to regulatory consumer issues and work with the Regulatory Compliance Management and business teams to follow regulatory change protocols where required 
• Advise the business when creating new and/or revised customer disclosure documents
• Develop, deliver, and track all Compliance training, awareness, and communication.
• Evaluate potential compliance issues to determine whether they are reportable. Assist the business in their investigation and remediation. 
• Work closely with Internal Audit and collaborate with compliance colleagues on external regulatory compliance reviews and examinations. Support the business to effectively respond to and close all gaps and audit issues.




Regulatory Compliance Management (30%)

• Responsible for 2nd LOD oversight of RCM program related to market and business conduct requirements including compliance risk and control assessments, issues management, and quarterly reporting 




Other / Projects (10%)

• Lead or participate in other projects as required related to market and business conduct requirements for areas of coverage, or the Bank’s RCM program. 

Knowledge/Skill Requirements

• MBA or law degree preferred 
• Minimum of 5 years compliance-related experience in federally regulated Schedule I bank
• Knowledge of consumer and commercial lending and deposit products
• Experience with Bank Act, FCAC Guideline and Trust and Loan Companies Act including expectations and best practices 
• Strong analytical and problem solving skills 
• Excellent written and verbal communications skills with ability to communicate effectively to varied internal audiences 
• Experience drafting or participating in updates to policies and procedures 
• Well organized, detail-oriented self-starter, comfortable functioning in a complex environment, managing multiple priorities within deadlines, and able to collaborate with various internal and external stakeholders. 
• Excellent interpersonal skills. Must be able to establish and maintain rapport with internal and external partners, regulators, auditors, management, and employees. 




Job Complexities/Thinking Challenges

• Requires strong experience and background in regulatory legislation to identify, assess, manage and monitor emerging and changing legislation that may impact the Bank. This includes providing instruction, direction, and guidance to all lines of business and functional areas. Ability to develop creative solutions as regular solutions will not always exist.
• Ability to independently understand the Bank’s processes and develop and implement appropriate controls by applying current specialized knowledge of banking regulations/financial services products. This will include new business initiatives that may be developed by the Bank.
• This position is required to maintain ongoing awareness of the Bank’s compliance processes. The role will be required to demonstrate considerable judgment with respect to consideration of applicable regulatory requirements in relation to the Bank’s size and complexity.
• Requires the need to independently analyze Bank policies/activities and assess the impact of identified control weaknesses in relation to the Bank’s risk profile.




Accountabilities

• Support the Senior Director in managing the development and maintenance of enterprise-wide compliance related policies and programs, employee training, assessment, and certification processes to effectively manage and mitigate risk and comply with regulatory expectations and industry standards.
• Act as a subject matter expert and ‘go to’ person for consumer compliance requirements and developments affecting business operations and the financial services industry.
• Act as an authority on consumer related regulations and industry best practices, including disclosure of information requirements, and make decisions on their interpretation and application. 
• Evaluate significant new initiatives and changes to products and services, policies, processes and systems to determine whether compliance risks have been identified appropriately and adequately addressed and/or mitigated.
• Develop applicable Compliance testing and monitoring to identify opportunities to strengthen controls, identify trends and mitigate regulatory and privacy risk.
• Support the development and maintenance of a sustainable regulatory program by identifying, assessing, and monitoring gaps and opportunities and driving continuous improvement through projects, initiatives, and problem resolution.
• Coach, mentor, and develop staff, including overseeing new employee onboarding and providing career development planning and opportunities.
• Lead employees to meet the organization's expectations for productivity, quality, and goal accomplishment.
• Establish and maintain relevant controls and feedback systems to check the information accuracy and integrity of the team’s deliverables.
• Plan, evaluate, and improve the efficiency of business processes and procedures to enhance speed, quality, efficiency, and output.