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Job Description
Internal Job Title: Senior Compliance Officer
Reporting to: CRO
Position Summary
The Senior Compliance Officer (“SCO”) will be part of the Legal and Compliance Department (LCD) Team and assist the Bank’s Senior Managements in developing, implementing and administering all aspects of the Bank’s Regulatory Compliance Management (RCM) processes in accordance with OSFI Guideline E-13, Privacy and consumer protection in accordance with the laws, regulations and the Bank’s policies, on an enterprise-wide basis.
The SCO will also provide the Bank with regulatory advice, conduct research, interpret and apply the laws and regulations, ensuring best practices to manage the institution’s legal, regulatory and reputational risk.
In general, the SCO will serve as a resource to Senior Management, business partners, on legal and regulatory compliance related matters, and guide the management and staff in the establishment of controls to mitigate the Bank’s risk exposure in its day-to-day activity, thereby safeguarding the interests of the Bank. Additionally, he or she will act as a liaison between the Bank and its regulators.
Compliance Responsibilities:
- Lead and have the overall accountability of the enterprise-wide compliance regime, including but not limited to Bank legislation, OSFI Guidelines, Privacy, CDIC, FCAC, etc.
- Draft and implement the Bank’s compliance policies, procedures and systems and ensure these are current and relative to the Bank’s activities.
- Develop, manage and implement the Bank’s Regulatory Compliance Management (RCM) Framework in accordance with OSFI Guideline E13, ensuring the ongoing compliance with all the applicable laws, regulatory requirements and guidelines.
- Ensure an effective compliance communication program, including promoting understanding of new and amended legal or compliance issues and together with the Human Resources develop and provide training for Board of Directors, management and staff.
- Identify, monitor and disseminate emerging or changing legislative and regulatory requirements.
- Review and approve new products, services, delivery channels and/or process changes ensuring the applicable laws, regulations and guidelines have been identified and adhered to.
- Design and execute effective testing strategies to ensure ongoing compliance in accordance with the Bank’s compliance policies and procedures.
- Develop and implement a risk assessment process for evaluating the inherent compliance risks in the Bank’s activities.
- Oversee the compliance control activities in all relevant business areas in the Bank, ensuring appropriate controls are in place to implement policies, procedures and RCM Framework.
- Develop and implement processes and procedures related to conducting independent compliance reviews and business units’ self-assessments.
- Monitor and report any non-compliance issues to Senior Management, and if applicable to various committees and stakeholders.
- Provide guidance to the business units in remediation efforts of any deficiencies identified and ensure the rectification is conducted within reasonable timeframe.
- Coordinate the investigation, processing, and defense of privacy breaches and consumer complaints and/or any other non-compliance events.
- Ensure accurate and timely reporting to Senior Management and various regulatory bodies such as Privacy Commissioner of Canada, OSFI, FCAC and CDIC.
- Act as the subject matter expert on all areas of compliance to the Bank.
- Build and maintain a strong, constructive and collaborative relationship between the LCD, all business partners and business units and stakeholders.
- Participate in industry and professional associations and forums.
Job Specifications
- Minimum Undergraduate degrees.
- Legal background is preferred.
- Minimum of 6 years’ experience managing complex banking and financial services matters, gained either at a law firm or through an in-house counsel position.
- Over 10 years’ experience in Compliance within the Canadian financial services sector.
- Experience interpreting laws and regulations as it applies to the financial services sector.
- Sound understanding of regulatory and legal trends and issues.
- Excellent research, communication and organizational skills.
- Outgoing and self-motivated with a strong client focused approach.
- Ability and comfort in dealing with all levels of staff within the Bank, as well as with regulators.
- Strong time management skills and ability to meet deadlines for multiple projects at the same time.
- Strong public speaking and presentation skills.
- Well-developed oversight and the organizational awareness skills.
- Demonstrated leadership and management skills.
- Ability to deal with conflicting points of view and to effect creative and responsive solutions.
- Good working knowledge of IT applications (test test) (e.g. Word, Excel, Access etc).
To apply, please submit your resume along with the application form (available for download at http://www.bankofchina.com/ca/custserv/cs3/ ) to hr@ca.bocusa.com
Bank of China (Canada) is an equal opportunity employer and it is the bank’s policy to recruit and select applicants for employment solely on the basis of their qualifications with emphasis on selecting the best qualified person for the position. We welcome applications from all interested parties. Please understand that only qualified applicants will be contacted.
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