POSITION SUMMARYThe Regulatory Compliance Analyst supports the execution of HomeEquity Bank's compliance management program. This role is responsible for assisting in the implementation and maintenance of key compliance frameworks and processes, including regulatory compliance management (RCM), regulatory change tracking, compliance monitoring and testing, and regulatory reporting. The successful candidate will work closely with business units, front-line risk management ("1B"), and risk functions to support the bank's overall compliance efforts and ensure regulatory expectations are met. This role reports to the Director of Compliance. As a second line of defence role, it will support an independent challenge program with respect to the end-to-end adherence to Bank policies and procedures.
MAJOR ELEMENTS OF THE ROLEKey accountabilities of this position include: Support in the execution and continuous improvement of the Bank's Regulatory Compliance Management (RCM) program, including the Reliance Model Framework.
- Help maintain and update the Bank's RCM framework, including overseeing requirements mapping and control documentation.
- Conduct second-line regulatory compliance testing in collaboration with SME Testing Leads, delivering actionable insights that enhance adherence to regulatory standards.
- Manage Reliance Model stakeholder engagement with respect to regulatory change across other Oversight Functions (Finance, Treasury, HR, and Risk), including performing review and challenge on domain assessments, levering compliance systems to record evidence and reporting.
- Perform RCM activities as the Monitoring and Testing Program Administrator.
- Support the tracking of regulatory requirements of from OSFI, FCAC, FINTRAC, and other legislation and regulators using governance, risk, and compliance (GRC) systems (e.g. Resolver).
- Monitor and support regulatory changes and perform impact assessments for Compliance-owned regulations.
- Assist with the administration of impact assessments, documentation, and follow up of regulatory change implementation activities.
- Use GRC tools (e.g. Resolver) to document compliance testing results, findings, and action plans.
- Prepare materials and logs for audit reviews and regulatory examination and ad hoc requests.
- Maintain accurate records to regulatory correspondence, action items, and commitments.
- Help prepare and update compliance-related policies and procedures to ensure alignment with current regulatory expectations.
- Support documentation and communication of compliance requirements across business units.
- Maintain tracking of Compliance policy and procedures update and reporting cycles.
- Support the development and delivery of Compliance-related and other regulatory training to stakeholders in the first and second lines of defence.
SKILLS AND EXPERIENCE REQUIREDQualifications- University degree in finance, accounting, business administration, law, or related field preferred.
- At least 5-6 years of relevant work experience within a regulated financial institution in Compliance or Risk Management
- Outstanding analytical and problem-solving skills, with a demonstrated track record of success in stakeholder engagement
- In depth experience with GRC system (e.g. Resolver) functionality
- Proficient in Microsoft Office Suite
Attributes- Ability to assess complex regulations and translate into actionable processes.
- Strong organizational skills sufficient to manage multiple Compliance and regulatory initiatives across the Bank.
- Negotiation and communication skills, with flexibility to pivot to accommodate business constraints and work with both junior and senior stakeholders.
- Attention to detail with ability to deliver against multiple conflicting deadlines.
- Broad general knowledge of the Canadian regulatory regime and risk management best practices
- Must be pro-active, self-motivated and a self-starter.
- A positive attitude, a desire to learn, and a willingness to persevere to get work done, either independently or as part of a team.
Working Conditions Unique to Job- Standard office environment, Hybrid work model
