Regulatory Compliance Manager (Hybrid)

We are currently seeking a Regulatory Compliance Manager to join our team.

The Regulatory Compliance Manager is vital to the advice and guidance of the regulatory compliance function at Tru Cooperative Bank. Reporting to the Director, Regulatory Compliance, this role collaborates with and provides consultation to risk and business leaders, ensuring stakeholders at all levels of the organization understand Tru Cooperative Bank’s regulatory compliance obligations. The Manager educates stakeholders on the purpose and importance of the Regulatory Compliance Management (RCM) Governance Framework and provides expert advice and guidance on OSFI and FCAC regulatory requirements. This role provides change leadership by driving and supporting the cultural change necessary to operationalize the RCM Policy and federal regulatory obligations throughout Tru Cooperative Bank. The Manager is key in identifying, interpreting, and disseminating relevant regulatory obligations and plays a central role in ongoing engagement with the business and other control functions to ensure a consistent enterprise-wide understanding of regulatory obligations.

Here’s what would be included as a part of your typical day

1. Regulatory Advice: Provides Tru Cooperative Bank with thought leadership, expert advice, and oversight on banking laws, rules, and regulatory expectations, including interpretation of complex regulatory requirements applicable to Tru Cooperative Bank’s operations, such as the Bank Act, FCAC, FATCA/CRS, and OSFI regulations and guidelines. Analyzes industry trends to support the development and maintenance of compliance policies and procedures that meet changing regulatory requirements. Develops strong relationships and acts as an effective partner in supporting business goals.
2. Regulatory Research: Conducts research and analysis of banking laws and regulations. Leads and coordinates regulatory change management activities, including assessing the impact of new and amended laws, regulations, regulatory guidance, and industry developments, disseminating information to the business to ensure sufficient understanding of obligations, and supporting the implementation of required changes across the organization. Administers and maintains compliance governance processes and systems, including issues, changes, and action tracking within Resolver, and monitors the timely remediation of compliance issues and regulatory findings.
3. Regulatory Compliance Management Framework: Oversees the maintenance of Tru Cooperative Bank’s inventory of applicable regulatory requirements in line with the RCM Governance Framework, RCM Policy, and associated Second Line procedures.
4. Oversight and Challenge: Provides oversight and challenge to the First Line of Defence on the design and development of controls and processes for identifying, assessing, mitigating, and monitoring regulatory compliance risk. Analyzes industry trends to support the development of policies, procedures, systems, and processes that meet changing regulatory requirements. Provides leadership and expertise on the laws, regulations, and policies impacting Tru Cooperative Bank’s operations. Reviews Third Party Risk Management criticality assessments and compliance documents to ensure third parties comply with all applicable regulatory requirements.
5. Education & Training: Provides education, training, and awareness on applicable regulatory obligations to build a compliance culture across the organization and reinforce accountability for regulatory risk ownership at the business unit level, in line with the three lines of defence model. Develops and facilitates education and training for management and employees on regulatory compliance processes, tools, and concepts. Maintains continuing professional development and knowledge of industry compliance best practices, including the Bank Act, FCAC requirements, FATCA/CRS, and OSFI requirements, to ensure Tru Cooperative Bank remains current with the evolving regulatory environment.
6. Regulatory Engagement: Supports department leadership in maintaining effective working relationships with applicable regulatory bodies, such as FCAC, OPC, OSFI, and CRA, during regulatory examinations, requests for information, regulatory reporting, and Reportable Compliance Issues (RCIs).

People/Thought Leadership

• Provides functional/technical guidance or advice to other employees (no direct supervisory responsibilities)

Qualifications

• Bachelor’s degree in a related discipline, or an equivalent combination of education and experience, is required.
• Five or more years of experience in regulatory compliance, legal, or a related field is required.
• Previous experience working in a compliance function at a bank or federal credit union is preferred.
• Strong knowledge of the regulatory environment governing federally regulated financial institutions, including requirements established under the Bank Act and guidance issued by regulators such as OSFI, FCAC, OPC, and CRA.
• A compliance, governance, or risk management designation is an asset.

Competencies

• Demonstrated leadership competencies (communication, coaching and change management).
• Ability to build strong relationships, influence and collaborate effectively with a wide range of stakeholders.
• Ability to analyze, interpret, and communicate complex legislative and regulatory requirements.
• Sound judgment, with the ability to develop strategic and practical recommendations that meet regulatory obligations and operational needs.
• High degree of professional and ethical standards, integrity, and discretion.

Skills

• Excellent written and verbal communication skills, with strong attention to detail.
• Strong knowledge of financial products and services and knowledge of bank and credit union operational processes is required.

Risk Management

• Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.