The Regulatory Operations and Controls team supports a comprehensive and integrated program designed to identify, measure, assess report and monitor operational risk exposures facing Tangerine. The main area of responsibility for the Regulatory Operations and Controls Compliance Manger is to manage the overall implementation of the Compliance Framework within the first line of defense. This includes working with and reporting to key stakeholders including the executive team. The Regulatory Operations and Controls Compliance Manager will report directly to the Regulatory Operations and Controls Director.
- Develop and execute compliance testing and risk assessments of business practices and/or procedures, including auditing of client files and work flows to verify compliance on an ongoing basis, in alignment with the Enterprise Regulatory Compliance Management framework
- Prepare reports in connection with the above testing
- Prepare compliance related Regulatory Operations and Controls Reports on a periodic and ad hoc basis for Senior Management, internal committees, the Board of Directors and Head Office
- Act as a contributing member to various Bank Committees on an ad hoc basis
- Manage the FCAC Reportable Complaints Review Process in the first line:
- Reviewing and assessing FCAC reportable complaints identified by the Client Response Group on a monthly basis and reporting results to Canadian Banking Compliance to ensure alignment.
- Conduct investigations into FCAC reportable complaints to determine compliance with applicable regulatory requirements, and ensuring remediation plans are in place for any identified compliance/control gaps.
- Prepare quarterly summary report of FCAC reportable complaints and FCAC reportable complaint aggregate report for submission to Canadian Banking Compliance.
- Maintain dashboard of reportable complaints to identify and analyze notable trends and ensure relevant feedback is provided to the Client Response Group and/or the business to reduce compliance risk exposure.
- FCAC Compliance Issue management and action tracking
- Manage the Tangerine Compliance Coordinator (“COCO”) program to ensure:
- COCOs are in place for all relevant Tangerine business lines;
- COCOs receive the mandatory Tangerine COCO and Business Management training as required; and
- COCOs complete periodic and adhoc reporting to Regulatory Operations and Controls. ; and
- Manage the COCO and Business Management Training program.
- Manage the reporting and resolution of compliance incidents
- Liaise with the business and monitor to ensure:
- Compliance issues identified by Internal Audit, or external regulators (excluding FCAC and OSFI) are reported and managed to resolution;
- Regulatory penalties and fines are identified, reported, and reviewed to identify any material or systemic issues of non-compliance;
- Material regulatory developments are tracked to implementation; and
- Business initiatives in place to satisfy regulatory requirements are completed as required.
- As applicable, complete Head Office reporting relating to the above business activities.
- Ensure the resolution, or escalation to the Director, Regulatory Operations and Controls, of any unaddressed or overdue compliance items.
- Act as an advisor to the business on Compliance related issues and initiatives
- Liaising with the business to collect necessary documentation for regulatory reviews
- Managing, documenting and retaining complete files in connection with the above activities
- Performing administrative duties in accordance with the Regulatory Compliance Management Framework to ensure first line compliance monitoring and testing activities are documented, tracked and managed to completion
- Establish and leverage strong partnerships with internal business units to ensure that compliance awareness is promoted, facilitated, and monitored
- Maintain compliance related Regulatory Operations and Controls procedures
- Manage the performance and development of compliance analysts
- Responsible for understanding and complying with the Regulatory Compliance Framework including the Anti-Money Laundering/Anti-Terrorist Financing and Sanctions Policy and all AML related policies, procedures and controls within the department.
- Other duties as assigned in keeping with the constant changes/needs of the company
- University or College Degree
- Post graduate or legal degree is an asset
- Minimum 5 years of experience in compliance, legal, regulatory or closely related disciplines in the Financial Services industry
- Audit experience is an asset
- Professional Certification
- Designations and certifications such as Certified Anti-Money Laundering Specialist or Canadian Securities Course are an asset
- Specialized Knowledge
- Excellent knowledge of Financial Services regulatory framework
- Ability to perform day-to-day tasks in French is not required, but an asset
- Able to prioritize and manage multiple tasks simultaneously
- Able to work well with deadlines
- Attention to detail
- Well-developed communication skills, both written and verbal
The Compliance Manager will be working in a traditional office environment and may be subject to special working conditions as needed by the business. Special working conditions may cover a range of circumstances from regular evening and weekend work, overtime, shift work, working outdoors and/or working with challenging clients.
Tangerine will make reasonable accommodations for the known physical or mental disabilities of an otherwise qualified employee or applicant for employment, unless undue hardship to Tangerine would result. Any applicant or employee who requires accommodation in order to perform the essential functions of a job should contact Human Resources or his or her supervisor.
All members of the Tangerine Team are responsible for managing risk and compliance within their departments. As such, employees should maintain and demonstrate the highest standards of integrity and ethical conduct in accordance with Tangerine policies, guidelines and directions.
Management COMPLIance accountabilities:
All managers and above at Tangerine are responsible for understanding and complying with the Regulatory Compliance Framework including the Anti-Money Laundering/Anti-Terrorist Financing and Sanctions Policy and all AML related policies, procedures and controls within the department.