Regulatory Compliance Advisor

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

The Regulatory Compliance Advisor provides expert advice and guidance on banking laws, rules, and regulations applicable to the Credit Union. This role facilitates the identification, interpretation, and documentation of new and changing regulatory requirements in Resolver and prepares reporting to communicate relevant information to appropriate audiences in accordance with department procedures. The role also supports the development of self-assessments and coordinates completion activities with the business. Functioning as an independent and objective second line of defence, the Advisor provides oversight and challenge over first line compliance operations and participates in advisory activities such as responding to inquiries, supporting projects, fulfilling training requests, preparing committee presentations, and engaging with regulators. This position collaborates with leadership and key stakeholders at all levels throughout the Credit Union, providing expert consultation in the field of compliance.  

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

1. Regulatory Advice: Provides Tru Cooperative Bank with expert advice, and recommendations on banking laws, rules, and regulatory expectations, applicable to Tru Cooperative Bank’s operations, including 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. Provides regulatory change management activities, including assessing the impact of new and amended laws, regulations, regulatory guidance, and industry developments, dissemination to the business to ensure sufficient understanding of their respective 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 Self Assessments: Prepares regulatory self-assessments for new and changing regulatory requirements and partners with business units to facilitate completion.  Documents the results of regulatory self-assessments in Resolver, ensuring that Tru Cooperative Bank has determined regulatory applicability, assessed compliance requirements, identified gaps and remediation actions, and prepared management reporting demonstrating that compliance obligations are being effectively managed.
4. Oversight & 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. Maintains and reports on compliance metrics, key risk indicators (KRIs), and key performance indicators (KPIs), and prepares monthly and quarterly compliance reports, findings and recommendations to inform senior management, the Board, and other governance forums to support oversight of regulatory compliance risks, trends, emerging issues, and regulatory change initiatives.
5. Education & Training: Supports 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).

Required Skills, Experience & Qualifications

• Bachelor’s degree in a related discipline, or an equivalent combination of education and experience, is required.
• Three 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.
• A compliance, governance, or risk management designation is an asset.
• 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.
• 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.
• Excellent written and verbal communication skills, with strong attention to detail.
• Strong knowledge of financial products and services.
• Overnight travel is required 7-12 times per year
• Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.

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