Compliance Consultant, Regulatory Compliance

at  Manulife

Toronto, ON, Canada -

Start DateExpiry DateSalaryPosted OnExperienceSkillsTelecommuteSponsor Visa
Immediate26 Dec, 2024Not Specified30 Sep, 2024N/AAdherence,Financial Services,Management Skills,Identifying Issues,Bilingualism,Microsoft Office,Excel,Influence Others,Sensitive Issues,Business Units,French,Archer,Windows,Communication SkillsNoNo
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Description:

As a federally chartered bank and federally and provincially regulated trust company, Manulife Bank and Manulife Trust (“Manulife Bank”) are subject to numerous legislative requirements including the Bank Act , the Trust and Loans Company Act , the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and the Personal Information Protection and Electronics Document Act , among others.
The Compliance Consultant, Regulatory Compliance is responsible for supporting the effective operation of Manulife Bank’s regulatory compliance management program, i ncluding the maintenance of all relevant regulatory compliance management records, risk and control assessments, evidence of controls, compliance issues and associated corrective action plans.
In addition, the Compliance Consultant, Regulatory Compliance is a seasoned and experienced professional with expertise in reviewing and interpretating legislation and documenting requirements in plain language. The individual in this role is responsible for the preparation of quarterly and annual compliance reports for applicable stakeholders including Manulife Bank’s Board of Directors in consultation with the Director, Regulatory Compliance and the Chief Compliance Officer. The Compliance Consultant must also have experience working with regulators and have an understanding of Bank industry issues impacting the business.
The individual in this role also acts as Compliance point person for the effective operation of the second line of defense monitoring and testing program, including the preparing testing plans in collaboration with the Compliance Director and Global Center of Expertise, maintaining policies and procedures, conducting second line of defense testing, preparing testing reports and managing any associated findings with our business partners.
In addition to the Bank Compliance team, this role interacts with senior leaders , our L egal department and broader compliance teams .

JOB REQUIREMENTS (EDUCATION, EXPERIENCE, KNOWLEDGE, SKILLS AND COMPETENCIES):

  • Specialized compliance expertise and/or legal experience working in financial services.
  • Legal background would be considered an asset.
  • Ability to review, interpret and document legislation and regulatory requirements.
  • Highly organized.
  • Excellent written and verbal communication skills, with the ability to simplify complicated messages.
  • Experience with the Archer system would be considered an asset.
  • Subject matter expertise in banking legislation, products and procedures in various operational areas is desirable.
  • Ability to readily recognize and evaluate the impact of current or potential compliance issues.
  • Ability to quickly understand business processes and their risk implications, analyze complex situations, reach appropriate conclusions, make practical recommendations and exercise good judgment in escalating issues.
  • Proven interpersonal, negotiation and relationship management skills. Must be able to exchange and clarify details of information in a controlled and confident manner.
  • Ability to work with fluid and changing accountabilities.
  • Team player who is willing to assist team members on projects and assist in sharing workloads when necessary.
  • Ability to work independently and in a team environment.
  • Ability to work with multiple objectives, conflicting priorities and complex issues.
  • Ability to interact effectively with management and counterparts in other business units.
  • Ability to interact with regulatory staff to ensure efficient handling of escalated licensing issues. Maintain collaborative relations with regulatory staff.
  • Ability to take responsibility for compliance programs and operate to ensure that compliance objectives are achieved.
  • Professional attitude and adherence to a high ethical standard.
  • Ability to use LAN and PC applications including: Windows, Archer, Microsoft Office, Excel, AWD.
  • Bilingualism in French would be considered an asset.

KEY SKILLS:

  • Must be able to exercise judgment in quickly identifying issues, challenging courses of action, assessing risks. Must be able to easily develop recommendations and modify plans as business conditions change.
  • Balance business needs against the policies, procedures and practices necessary to ensure compliance with regulatory obligations.
  • Influence others on compliance issue resolution without direct authority and be a strong facilitator.
  • Deal with sensitive issues that could be exposed to the media or regulators.

Responsibilities:

  • Support the ongoing management of the regulatory compliance management program, as well as policies and procedures to ensure that meet applicable regulatory requirements.
  • Manage escalated complaints received at the Client Dispute Resolution Office, including conducting complaint investigations, complaint trending analysis, and complaint related reporting. Act as a first point of contact with the Ombudsman for Banking and Investment Services escalated complaints.
  • Conduct second line of defense monitoring and testing in line with Global Compliance expectations, including the development of annual testing plans, execution of the testing, control review and assessment, liaison with business stakeholders.
  • Create and maintain regulatory records in the regulatory compliance management database (RCMD) for completeness and accuracy and assessing controls and risk within the RCMD.
  • Act as Compliance point of contact for risk and control self-assessments, in particular relating to the Bank’s complaint handling processes.
  • Manage potential compliance issues and action plans along with business partners.
  • Support the preparation and coordination of quarterly and annual compliance reporting and attestations, including preparing content for Board of Directors and Committee meetings.
  • Participate in any other tasks that may be assigned from time to time.


REQUIREMENT SUMMARY

Min:N/AMax:5.0 year(s)

Banking/Mortgage

Banking / Insurance

Finance

Graduate

Proficient

1

Toronto, ON, Canada