Chief Compliance Officer - Vancouver, Canada - Central 1 Credit Union

Central 1 Credit Union

Verified Company

Vancouver, Canada

3 weeks ago

Posted by:

Sophia Lee

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Description

Central 1 cooperatively empowers credit unions and other financial institutions to deliver banking choice to Canadians. Central 1 provides critical services at scale to enable a thriving credit union system.

We do this by collaborating with our clients, developing strategies, products and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada.

For more information, visit

What we offer:

Worklife flexibility
Hybrid work environment
One time allowance to set up your office for remote first employees
Variable annual incentive plan
Generous annual vacation allotment
Topnotch flexible benefits plan
Retirement Plan, matched contributions at 6%
Access to a learning platform and educational assistance support
Career development opportunities
Wellness Flex Fund to support personal interest and activities
Day off to volunteer in your community and other paid time off options
Corporate discounts

Job Summary:

The Chief Compliance Officer is responsible for leading Central 1 Credit Union's Compliance Function, which acts as the second line of defense in managing regulatory compliance risk.

The CCO has primarily accountability for assessing and managing regulatory compliance risk within Central1 through its regulatory compliance management (RCM) framework.

The CCO is responsible for assessing the adequacy of, adherence to, and effectiveness of Central 1's day-to-day controls and opining on whether, based on the independent monitoring and testing conducted, the RCM controls are sufficiently robust to achieve compliance with the applicable regulatory requirements enterprise-wide.

The CCO has direct accountability to Central 1's Board of Directors.

What you'll be doing:

Managing the Compliance Function, including overseeing Central 1's CAMLO and Privacy Officer
Managing Central 1 staff who act as Chief Compliance Officer, CAMLO, and Privacy Officer for Central 1's subsidiaries
Overseeing the development and functioning of Central 1's RCM program, including the tracking of regulatory change, maintenance of regulatory inventory, evaluation of controls and risk assessments
Monitoring, evaluating, documenting, and reporting on compliance risk and compliance status, including instances of material noncompliance to Central 1 management and the Board
Acting is an adviser to management and the Board on compliance matters, including AML/ATF, ABC, privacy and financial institution legislation, regulation, and guidance
Interacting with regulators, including managing compliance reviews and investigations
Liaising with internal and external auditors in relation to compliance matters
Overseeing AML and privacy controls operated by the Compliance Function
Working with Senior management on the development, communication, and oversight of Central 1's regulatory compliance management framework
Developing and maintaining the Compliance Work Plan and overseeing its execution
Overseeing compliance testing and acting as a point of escalation for issues and actions
Overseeing the development and maintenance of Central 1's compliance policies, standards, guidelines, and procedures designed to ensure compliance with legislative and regulatory requirements
Overseeing Central 1's policy development program
Overseeing Central 1's compliance training programs
Proactively fostering a compliance culture and optimizing relations with regulators
Providing strategic direction to the management team on compliance
Establishing relationships with industry peer groups to ensure Central 1 continues to follow industry best practices
Assisting Compliance staff, including the CAMLO, Privacy Officer, and Senior Compliance Officer, in completing projects and daytoday tasks as necessary.

What you'll have:

10+ years experience in the compliance and/or legal function of a credit union or bank
Law degree preferable
Preferably called to the bar in British Columbia or Ontario
Strong working knowledge of legislation, regulation, and guidance applicable to banks, credit unions, and trust companies, including AML/ATF, privacy, and financial institutions regulation
Experience implementing a program to comply with OSFI Guideline E1
Strong understanding of regulatory compliance best practices in a financial institution environment and risk management expectations of financial institutions regulators
Experience interacting with regulators
Solid people management experience
Excellent leadership, communication, influencing, training, and presentation skills are mandatory, as well as the ability to interact effectively with varied skill sets across the organization.
Ability to work collaboratively, think practically, and use sound judgment.
Ability to work independently and reliably under tight timeframes in a fastpaced environment.

LI-Hybrid