Compliance Manager - 12 Month Fixed Term Contract

KOOTENAY SAVINGS CREDIT • Trail, BC

3d • CA$47 - CA$54 • Hybrid

About The Position

Kootenay Savings Credit Union is seeking a highly motivated and experienced Compliance Manager to join our team. In this 12 month fixed term, you will ensure full organizational compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act including applicable Privacy Legislation Lobbyists Transparency Act (LTA), Listed Person or Entity Property Report (LPEPR) in addition to the BCFSA Justice for Victims of Crime Reporting. You will play a key role in the maintenance, development and implementation of AML and Privacy policies, guidelines and procedures including identifying and recommending relevant staff training to ensure effective ongoing regulatory compliance based on federal and provincial legislation.

Requirements

• Bachelor’s Degree in Commerce or related field
• A minimum of 10 years’ experience in the financial services industry that has resulted in advanced knowledge of financial institution regulatory requirements, products, services, processes and systems
• Advanced understanding of the regulatory environment surrounding financial services institutions including PCMLTFA regulations, privacy regulations, BCFSA and/or OSFI requirements and other government and non-government regulations
• Advanced knowledge of the financial services industry, including products, services, processes and systems
• Advanced analytical, research and problem-solving skills
• Demonstrated effective verbal and written communication skills
• Demonstrated knowledge and experience in reviewing processes, writing policies, processes and reports
• Advanced technical computer skills including the use of Microsoft Office, AML Software, SQL database querying programs and CaseWare IDEA Analytic software
• Ability to consult and communicate effectively in the areas of products, services, processes and systems in the context of compliance regulations
• Ability to effectively manage multiple assignments and meet deliverables
• Demonstrated ability to translate strategies into tactical plans
• Able to establish credibility and positively influence employees and managers at all levels of the organization
• Ability to adapt to changes in the external environment and the organization; understanding of change management principles and practices
• Demonstrated commitment to continuous learning and development
• The ability to take a creative approach to opportunities or issues, think “outside the box” and explore unique ways to create value for members, communities and the organization.
• The ability to develop breakthrough strategies that clearly differentiate the business within the communities it serves, while operating in an environment of flux, rapid change, and technological disruption.
• The ability to understand and leverage knowledge of the credit union and financial system including key external relationships, political and economic forces, emerging alliances, competitors and the regulatory context.
• The ability to courageously face new challenges and opportunities.
• The ability to execute business strategies within an uncertain, complex and ambiguous business landscape and ensuring accountability for results.
• The ability to form a deep understanding of members’ needs and to develop member-centric solutions across multiple channels that exceed their expectations.
• The ability to work within and across groups and/or organizations to solve complex issues and create the best solutions that will benefit members and their communities.
• The ability to persuade, convince, influence or gain the commitment of others to support an idea, adopt a specific direction, or commit to an initiative in support of the business of the credit union system.
• The ability to recognize and moderate one’s effect on others and the organization, building trust by choosing to act with integrity and authenticity.

Nice To Haves

• Successful completion of the Canadian Anti-Money Laundering Institute – Foundations of AML Compliance Management Certificate within one year from date of hire

Responsibilities

• Ensures the organization complies with all regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
• Acts as the PCMLTFA subject matter expert for the organization and collaborates with others in organization on PCMLTFA matters.
• Develops, implements, updates and tests organizational risk assessments and policies and procedures to ensure compliance with PCMLTFA.
• Manages and ensures completion and compliance of the organizations FINTRAC and BCFSA reporting requirements in relation to PCMLTFA.
• Develops and administers PCMLTFA training programs for the organization in coordination with the Training Department.
• Remains informed on changes and updates to PCMLTFA regulations.
• Researches, develops, implements, and tests the operation of the anti-money laundering (AML) software used by the organization and maintains regular communication with the software vendor.
• Maintains a network with other Compliance Officers in British Columbia and in other financial institutions to keep abreast of “best practices” and emerging issues.
• Responsible for the ongoing oversight and continuous monitoring of Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) activities to ensure member risk profiles remain accurate, complete, and reflective of evolving risk factors.
• Ensures the organization complies with all relevant privacy federal and provincial privacy legislation including PIPA and PIPEDA.
• Acts as a privacy subject matter expert for the organization and actively collaborates and supports the KSCU Privacy Officers on privacy related matters.
• Develops, implements, updates and tests organizational risk assessments, policies and procedures to ensure compliance with the acts and regulations.
• Manages and ensures completion and compliance of the organization’s privacy reporting requirements.
• Remains informed on changes and updates to privacy acts and regulations.
• Maintains a network with other compliance professionals including privacy officers in British Columbia and in other financial institutions to keep abreast of “best practices” and emerging issues.
• Ensures the organization complies with the LTA.
• Acts as the LTA subject matter expert for the organization and collaborates with others in organization on LTA related matters.
• Develops, implements, updates and tests policies and procedures to ensure compliance with the LTA.
• Manages and ensures completion and compliance of the organizations LTA reporting requirements.
• Develops and administers LTA training programs for the organization in coordination with the Training Department.
• Remains informed on changes and updates to LTA.
• Maintains a resource network and keeps abreast of “best practices” and emerging issues.
• Directly responsible for auditing and revising the organization’s overall compliance program to explicitly incorporate LPEPR protocols.
• Supports the Chief Anti-Money Laundering Officer to ensure timely updates to the formal KSCU AML compliance manual including all related policies and procedures to dictate preciously how sanctioned assets or listed entity is flagged in addition to the internal escalation path and the actual submission of the LPEPR form to FINTRAC.
• Responsible for the automated screening and surveillance tools KSCU utilizes for transaction monitoring and client screening under the direction of the Chief Anti-Money Laundering Officer.
• Responsible for ensuring that KSCU’s AML data feeds or internal systems are capturing all applicable, real-time global and Canadian sanctions lists to prevent listed entities from slipping through regular screenings.
• Responsible for assessing the organizations vulnerability to specific sanctions evasion red flags including: The use of intermediary or high-risk geographic jurisdictions, Overly complex or opaque corporate structures designed to hide beneficial ownership, The use of proxies, third-party enablers or rapid shell company transfers.
• Responsible for ensuring updates to the annual or ongoing training plan are in place to educate staff on sanctions evasion offenses including the dual-layered training for: Front-line staff: Training on how to spot behavioral anomalies or documentation inconsistencies at the point of transaction, Internal investigators / analysts: Specialized training on evaluating high-risk files, recognizing asset shielding and navigating the exact LPEPR submission tools.
• Responsible for bridging the gap between LPEPR and Suspicious Transaction Reporting. Specifically ensuring the filing of the LPEPR in addition to an STR where required.
• Serves as a liaison between Kootenay Savings Credit Union and both internal /external audit firms engaged to perform compliance and AML effectiveness reviews, privacy assessments, sanctions reviews and other independent assurance activities
• Supports the annual internal audit planning process by providing risk-based input related to regulatory compliance, anti-money laundering, privacy, sanctions, fraud, and operational risk activities.
• Coordinates all aspects of outsourced audit and review engagements including planning, scope development, information requests, scheduling, document collection, stakeholder interviews, testing activities, and communication with business units.
• Acts as a point of contact for auditors, consultants, and independent reviewers during fieldwork and testing activities, ensuring timely and accurate responses to requests for information.
• Provides auditors and reviewers with access to policies, procedures, risk assessments, governance materials, training records, monitoring reports, regulatory filings, and supporting documentation required to complete their assessments.
• Responsible for coordinating KSCU's mandatory biennial Anti-Money Laundering Effectiveness Review and any additional independent AML, sanctions, privacy, or compliance reviews required by regulation or management.
• Ensures the scope of effectiveness reviews includes testing the design and operating effectiveness of AML, sanctions screening, customer due diligence (CDD), enhanced due diligence (EDD), transaction monitoring, suspicious transaction reporting, LPEPR controls, privacy compliance controls, and related regulatory reporting processes.
• Reviews draft audit and effectiveness review reports for factual accuracy and completeness and facilitates management responses in consultation with impacted business units and leaders.
• Collaborates with business units to develop, document, and implement management action plans to address audit findings, effectiveness review recommendations, control deficiencies, and regulatory observations.
• Maintains the KSCU BDO JIRA audit system including the tracking, monitoring, validation, and reporting of audit findings, effectiveness review recommendations, regulatory observations, and remediation activities through to completion.
• Maintains open channels of communication with all internal and external stakeholders fostering a trusting, collaborative environment.
• Holds self and direct reports accountable.
• Takes responsibility for self-development and continuous learning to achieve and maintain the required knowledge for the role.
• Undertakes additional related duties, special projects, studies or assignments as requested.

Benefits

• Salary from $87,965
• Comprehensive benefits including extended health, dental, and vision coverage (subject to 30 day waiting period)
• Health Care & Personal Spending Account
• No service fee credit union chequing account for the duration of the contract
• A fulfilling career in a progressive organization that embraces leading strategic initiatives
• A workplace that puts community and employees first, supporting local non-profits, student bursaries, and community sponsorships

What This Job Offers

• Job Type: Full-time
• Career Level: Manager