Job DescriptionWe are currently seeking a Compliance Governance Manager to join our team. Reporting to the Director, Compliance & Member Advocacy, the Compliance Governance Manager leads the operationalization of the enterprise Regulatory Compliance Management (RCM) Framework, developing and maintaining the governance policies, procedures and controls through which Tru Cooperative Bank (Tru) identifies, assesses, manages, and reports on regulatory compliance risk. Operating within a Three Lines of Defence model, this independent second-line role provides guidance, oversight and challenge to support effective first-line ownership of compliance risk, regulatory change management, and the consistent execution of compliance management activities across the organization. The role works collaboratively with first-line business areas and other second-line functions to promote a strong culture of compliance and ensure compliance practices remain aligned with regulatory expectations and industry best practices. In addition, the role provides support for the Member Advocacy and Privacy programs supporting regulatory change implementation, governance practices, reporting, issue management, and the timely execution of program activities.
Here's what would be included as a part of your typical day- Regulatory Compliance Management Framework and Governance: Leads the implementation and maintenance of the RCM Framework and underlying suite of control elements such as policies, procedures, standards, methodologies that translate OSFI E-13 expectations into effective and consistently executed compliance management activities. Executes governance and oversight activities driving consistent adoption of the framework through activities such as assessments on RCM effectiveness, regulatory risk ownership attestations and issues management.
- Regulatory Compliance Framework Change Management and Guidance: Monitors regulatory developments, supervisory expectations, industry practices and assesses impacts to the RCM Framework. Maintains and updates the RCM Framework and underlying control elements to ensure alignment with evolving regulatory requirements. Provides guidance to first- and second-line functions on compliance management requirements, roles, responsibilities and expectations and supports change management activities to promote consistent adoption of the RCM Framework across the organization.
- Oversight, Monitoring and Reporting: Executes independent second-line oversight and challenge regarding the effectiveness of first-line regulatory compliance risk governance, management, monitoring and reporting practices. Supports the development and enhancement of compliance reporting, dashboards, KPIs and KRIs used by Senior Leadership, governance committees and the Board. Partners and coordinates with adjacent second-line functions within regulatory compliance and where compliance risk intersects with other risk domains.
- Regulatory Research, Inventory and Compliance Culture: Assists in monitoring the regulatory landscape for new and emerging requirements. Conducts research and analysis of banking laws, and regulations and maintains continuing professional development and knowledge of industry compliance best practices to ensure Tru remains current with the evolving regulatory environment. Manages and maintains the regulatory obligations inventory. Develops and supports compliance training, awareness activities and tools that promote understanding of regulatory obligations and reinforce a strong culture of compliance and first-line ownership.
- Member Advocacy and Privacy Program Support: Provides operational and program management support to the Member Advocacy and Privacy functions including regulatory change implementation, policy and procedure enhancements, requirements drafting, issues management, regulatory reporting and examination readiness activities.
Required Skills, Experience & Qualifications- Bachelor's degree (with a preference for law, audit or risk management) or equivalent combination of education/experience required
- 5+ years of experience in regulatory compliance, legal or related field required
- Compliance, governance, audit or risk management designations are an asset
- Experience supporting compliance governance, issue management, regulatory examinations, attestation programs, and executive or board reporting
- Expertise of regulatory and legislative environment for Federally Regulated Financial Institutions (For Schedule I Bank or Federal Credit Union) including The Bank Act, FCAC, FATCA & OSFI Regulations and Guidelines is required
- Previous experience working in the compliance function within a Bank or Federally Regulated Credit Union is preferred
- Demonstrated leadership capabilities, including strong communication, influence, collaboration, and change management skills
- Strong understanding of OSFI E-13, RCM principles, governance frameworks, the three lines of defence and second-line oversight
- Ability to interpret laws, regulations, and supervisory expectations and translate them into practical internal policies, procedures, governance practices, and compliance management activities
- Ability to influence and challenge constructively across all levels of the organization
- Sound judgement with an ability to develop strategic, innovative and pragmatic recommendations that meet regulatory obligations as well as operational needs
- High degree of professional and ethical standards and integrity
- Excellent written, verbal, presentation and communication skills, with strong attention to detail
- Strong understanding of consumer protection laws under the Bank Act and FCAC regulations impacting Federal Credit Unions and Banks.
- Strong knowledge of financial products and services
- Advanced change management and cross functional collaboration skills
- Strong understanding of regulatory compliance data relationships, taxonomy, reporting requirements, and risk management system functionality to support accurate RCM reporting, dashboards, attestations, issue management, and oversight.
- 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.
