Regulatory Audit Specialist — Legal Compliance

Job Purpose

Examines licensees’ books, records, files and related documents to ensure compliance with the Law Society’s By-Laws and Rules of Professional Conduct (RPC) / Paralegal Rules of Conduct (PRC). The focus is on areas of practice that have historically given rise to disciplinary actions or other regulatory concerns, or on licensees with previous poor record keeping and money handling practices. Prepares audit reports, offers timely recommendations for improvement, and, in cases of serious breaches, alerts their assistant manager who may recommend referral to investigations team for further regulatory action.

Qualifications

• Requires a Bachelor's Degree in Accounting, Business, Law or a related discipline.
• Requires a Chartered Professional Accountant (CPA) designation or a professional designation in law and membership in a recognized Canadian professional body.
• Requires a valid driver’s license and access to a personal vehicle.
• Requires a minimum of 3 years’ experience in financial, regulatory, or compliance audits, preferably in relation to the practice of law.
• Professional Knowledge:
  • Law Society’s mandate, services, legislation, and policies.
  • Current trends and developments in accounting practices and auditing techniques.
  • Knowledge of real estate law, estate law and related accounting requirements would be an asset.
• Technical Skills
  • Microsoft Office Suite / 365 (Word, Excel, PowerPoint, etc.).
  • Broad understanding of the application of technology in a regulatory / legal environment.
• Competencies
  • Customer service skills.
  • Analytical and problem-solving skills.
  • Project coordination, prioritization, and time management skills.
  • Interpersonal, oral, and written communication, and presentation skills.
  • Organizational and multitasking skills with attention to detail.
  • Mathematical acumen.
  • Relationship Management.
  • Ability to reason through and communicate clearly, concisely, and accurately, both orally and in writing.
  • Expressive and persuasive in both spoken and written language.

Key Accountabilities

Client / Customer Service Planning:

• Conducts initial due diligence on licensees of the selected firm to ensure spot audit can proceed.
• Contacts the licensee to discuss the spot audit, schedule the audit date, and request any initial documentation.
• Obtains any additional authorizations prior to commencing the audit.
• Prepares and sends the initial correspondence letter to the licensee, including pre-audit questionnaire.
• Verifies licensee information in the self-reporting database to ensure accuracy.
• Prepares and communicates case requirements to the licensee.
• Conducts pre-attendance due diligence to ensure that the spot audit can proceed.
• Prepares for audit, including assessing any documentation provided by the licensee.

Client/Customer Service Delivery:

• Conducts audit assignments independently or as a part of a team, examining law firm and legal services firm practices to ensure compliance with the Law Society’s By-Laws, RPC/PRC. Examines the firm’s accounting records, files and related documents, and conducts interviews with the licensee, their staff, and other relevant parties.
• Prepares and provides licensee with an Audit Report outlining identified deficiencies and recommendations for improvement.
• Identifies breaches or potential breaches of By-Laws and RPC / PRC and flags any serious breaches and/or regulatory concerns for priority review.
• Identifies practice management issues.
• Submits audit reports that are complete, well documented, and organized in accordance with Spot Audit Program standards and within specified timelines.
• Conducts follow-up spot audits to ensure implementation of recommendations and compliance with prior undertakings.
• Testifies as a witness when required by Discipline Counsel at hearings.

Team Membership:

• Attends group and departmental meetings.
• Promotes the sharing and transfer of knowledge, standards, and information amongst team members within the department, division, and other LSO departments.