Director, Dispute Resolution Office and Regulatory Liaison

at  EQ Bank Equitable Bank

MAIN ACTIVITIES:

• Main Activities include:

Complaint Handling Program (40%)

• Lead, direct and manage the development, implementation, and maintenance of the Bank’s enterprise-wide Complaint Handling Program and related activities in compliance with the Guideline on Complaint Handling Procedures for Banks and Authorized Foreign Banks wit the FCAC Supervision Framework.
• Advise senior management and business unit staff on complaint handling policies, control design, implementation and effectiveness, as well as best practices
• Lead the ongoing review, development and enhancement of complaint handling policies, procedures, and tools working with cross-functional stakeholders in customer care, product, technology and legal
• Direct the execution of monitoring, testing, and reporting, in accordance with the Bank’s Complaint Handling Program, the Guideline and Equitable Bank’s Regulatory Compliance Management Program
• Manage and oversee the review, investigation, and evaluation of customer complaints, seniors’ concerns, and potential compliance issues to address any gaps or issues and develop corrective actions.
• Complete full investigations and consumer responses for complaints that reach the Dispute Resolution Office, the third and final step of the Bank’s complaint handling process.
• Complete full investigations and report to Ombudsman for Banking Services and Investments (OBSI) in response to escalated complaints.
• Develop, oversee and maintain analysis and reporting on complaint data trends and issues to senior management; work with relevant business units to address trends in complaint data.

Regulatory Liaison Office (40%)

• Responsible for day-to-day management of Equitable Bank’s relationship with the FCAC and Ombudsman for Banking Services and Investments (OBSI) and other regulators, where applicable (i.e. OSFI).
• Responsible for the preparation, management and submission of all regulatory reporting, examinations, requests for information, and escalated complaints from FCAC and OBSI. Responsible for development of materials to support interactions with OSFI.
• Act as single point of contact for communications related to Reportable Compliance Issues and Reportable Complaints, ensuring reporting is accurate and complete.
• Act as subject matter expert on FCAC Codes of Conduct that have been adopted and ensure enterprise-wide policies, business unit procedures and controls are responsive to commitments. Develop, implement and maintain reporting on adherence to voluntary Codes of Conduct.
• Develop, implement and maintain a tracking and recordkeeping system to centralize, store, and analyzed trends on interactions with regulators, issues, and information provided.
• Provide advice and guidance to senior management on developments within the FCAC, OBSI and OSFI that could impact the Bank’s regulatory posture
• Prepare and submit reportable complaints and compliance issues as necessary to the FCAC and ensure that all required reporting to the FCAC is completed on- time.
• Prepare reports to Senior Management and the Board on consumer provision information related to the Bank’s complaint handling program and compliance with applicable federal consumer protection laws, regulations, and best practices.

Regulatory Compliance Management (15%)

• Responsible for 2nd LOD oversight of RCM programs related to complaint handling and voluntary Codes of Conduct including oversight of risk and control assessments, issues management, and control effectiveness assessments

Other /Projects (5%)

• Lead or participate in other projects as required related to complaint handling, regulatory affairs, or the Bank’s RCM program.

KNOWLEDGE/SKILL REQUIREMENTS:

• Undergraduate degree in Business, Finance, Law, or related field/professional certification.
• Minimum of 10 years of compliance-related experience in a federally regulated financial institution, particularly in federal consumer protection laws, regulations, and best practices.
• Strong knowledge of all lines of business and functional departments within the Bank.
• In-depth, expert knowledge of regulatory legislation including with consumer provisions under the Bank Act and Trust and Loans Companies Act and accompanying Financial Consumer Protection Framework Regulations (SQR/2021-181), FCAC Guidance, expectations and best practices, and voluntary codes of conduct and public commitments.
• Experience in communicating and dealing with Bank regulators, including, but not limited to, the FCAC, OBSI, and OSFI.
• Strong knowledge and experience with a variety of financial products and services (Credit Cards, Mortgages, Lines of Credit, Deposit Accounts, etc.).
• Ability to translate regulatory requirements into project requirements and to communicate the facets of regulatory, consumer and/or privacy legislation and guidelines to various stakeholders.
• Strong analytical and problem-solving skills with demonstrated ability to make appropriate and effective decisions under pressure.
• Excellent written and verbal communication skills with ability to communicate effectively to varied internal and external audiences in particular as it relates to regulatory requirements and their impacts.
• Experience in drafting policies and procedures including training.
• Proven people management and leadership skills and ability to lead directly and by influence.
• 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.
• Actively demonstrate mindful personal behaviour to consistently produce good, ethical outcomes.
• Continue to independently develop and maintain broad knowledge and awareness of the financial industry, risk management practices and regulatory and/or policy changes.
• Transfer/share knowledge of areas of expertise with other members of the Compliance team.
• Strong analytical and problem-solving skills with demonstrated ability to make appropriate and effective decisions under pressure.
• Working knowledge of Microsoft Office (Word, Excel and PowerPoint).

The Director, Dispute Resolution and Regulatory Liaison Office plays a leadership role in the Compliance Department and is responsible for managing the Bank’s Complaint Handling Program and Regulatory Liaison program. The Director leads and oversees the Bank’s Consumer Complaint Handling Program and day-to-day relationship with the FCAC and OBSI including required regulatory reporting.
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.