Vice President, Compliance

Transcription

1 Vice President, Compliance Reports To InStride Resources Operating Board (comprised of the CEOs of the 3 partner credit unions) ROLE PURPOSE Under executive direction, the Vice President will provide strategic insight, leadership, direction and support to the partner credit unions regarding compliance risk strategies and related matters. The incumbent will also be responsible for leading and participating in the successful day-to-day operations related to minimizing compliance and fraud risk and maximizing regulatory requirement adherence in the partner credit unions. The Vice President will work closely with other members of the InStride and partner credit union teams to provide input and advice on related system issues and capabilities, including short and long range system planning, as well as process and practice review. PRINCIPLE DUTIES AND RESPONSIBILITIES Strategic Leadership Develop specific short and long term strategy and objectives to establish and maintain effective compliance risk mitigation related to the functional areas of: Anti-money laundering & terrorist financing (Proceeds of Crime (Money Laundering) and Terrorist Financing Act) Fraud Privacy (Personal Information Protection Act) Corporate communications (Canada s Anti-Spam Legislation) Member account compliance (Foreign Account Tax Compliance Act) Continually monitor current compliance and fraud risk mitigation related strategy, policies, standards, etc., assess their effectiveness in supporting and helping achieve organizational goals and strategy, and adjust as required. Meet reporting standards as determined in conjunction with the InStride Operating Board Create and maintain effective relationships with credit union boards and senior management, regulators, service providers, consultants, vendors, law enforcement, etc. Support the Operating Board in setting short and long-term organizational goals; implement plans to achieve goals. Operational Leadership Establish and lead implementation of operational and technical policies, standards, systems, processes and procedures to efficiently and effectively document and mitigate compliance and fraud risk in each of the partner credit unions, while balancing with operational needs at each. Formally act as the Chief Anti-Money Laundering Officer (CAMLO) for each of the partner credit unions.

2 Designate an Alternate CAMLO, support their ongoing development in the role for succession planning purposes. Formally act as the Privacy Officer for each of the partner credit unions. Designate a back-up Privacy Officer, support their ongoing development in the role for succession planning purposes. Lead investigations into specific, critical incidents related to areas of functional responsibility. Develop, implement, and facilitate training to credit union employees as it pertains to all facets of compliance and fraud risk. Assess training effectiveness to ensure skills and knowledge acquired through training are properly implemented. Integrate new and/or other areas of regulatory compliance as required. Provide advice and guidance to managers and staff on compliance risk related issues. Maintain expert level knowledge of all related legislative and regulatory requirements. Lead and participate in inter-credit union project teams and committees as required. Assess audit results from internal and external sources, provide appropriate responses, and craft tactical plans to address deficiencies. Prepare the Compliance Risk budget using knowledge of the corporate financial objectives and capital requirements, monitor budget adherence. Network and collaborate with peers in other institutions and organizations to brainstorm, share ideas, compare solutions and identify opportunities to work together both provincially and nationally. Human Resource Management Interview prospective employees for Compliance Risk team and make hiring decisions. Organize, schedule and monitor activities to ensure maximum service levels are being provided and that work flows smoothly. Establish performance standards and performance plans annually for each team member. Conduct coaching activities to assist employees in meeting established performance plans annually for each team member. Conduct coaching activities to assist employees in meeting established performance standards; consult with employees on day to day basis to assist with problem solving. Identify skill and knowledge gaps of team members, identify appropriate learning and development opportunities to address short and long term development requirements. Ensure succession and replacement planning activities are conducted to extent by possible means of cross training, designation of back-up officers where appropriate, etc.

3 Credit Union Relationship Act as independent resource to each credit union s Board of Directors by maintaining direct and ongoing access to the respective boards and board committees, as well as senior management at all partnering credit unions. Meet governance reporting requirements as determined by the Board of Directors and/or Audit and Risk Committee of each partner credit union. Participate in partner credit union meetings and credit union system meetings as required. Develop content and provide input to member educational programs. Credit Union Relationship Act as independent resource to each credit union s Board of Directors by maintaining direct and ongoing access to the respective boards and board committees, as well as senior management at all partnering credit unions. Meet governance reporting requirements as determined by the Board of Directors and/or Audit and Risk Committee of each partner credit union. Participate in partner credit union meetings and credit union system meetings as required. Develop content and provide input to member educational programs. KEY RELATIONSHIPS Internal InStride Operating Board Credit Union Board of Directors Partner Credit Union Executives Partner Credit Union Senior Managers Credit Union Branch/Department Managers External Credit Union Central of Alberta Members of the Credit Union Other Credit Unions, Banks External law enforcement agencies Verafin Fintrac Office of the Information and Privacy Officer REQUIRED QUALIFICATIONS Education Bachelor s degree in Business or Equivalent Willing to take additional courses as required Courses in Risk Management and Project Management are desirable. Experience/Knowledge 5+ years of experience in a financial services environment and/or risk management environment including 2 3 years of management experience.

4 Core Effectiveness Skills: 1. Interpersonal/Communication Builds and sustains effective working relationships Communicates clearly and concisely Strong written communication skills Effective listening skills Ability to support effective interaction between and among people and groups of people Deals with conflict positively and supports others to resolve differences Ability to mediate differences between individuals and groups of people Ability to persuade, influence, negotiate, motivate people and events Public speaking skills/facilitation skills Ability to sustain openness and trust, provide emotional support and effectively handle expression of strong feeling 2. Leadership A positive attitude toward change Recognition of and respect for people s diversity and individual differences Coach, mentor, develop and motivate employees, board, members, community, external groups Facilitate interaction among people Develop strategies to improve team, individual and organizational performance Instill commitment to values and vision Provide an environment that supports skill development Take responsibility for personal actions and the actions of others. 3. Managing Change Continuous learning and development Ability to balance work and home responsibilities Stress management Effective organizational and time management skills Understanding of the change management process; leads changes as they relate to strategic direction Ability to diagnose organization s readiness for change Forecast change and understand its impact on organizational effectiveness and direction Ability to plan change Drives change as it relates to the strategic plan Monitor and evaluate the effects of change Flexible and adaptable in implementing the organization s goals 4. Problem Solving and Decision Making Problem Solving Identify problems, discover plans or patterns, link information to strategic direction, reach conclusions, evaluate action in relation to organizational development/department operations Ability to recognize when a problem requires referral to Operating Board Identifying opportunities based on an in-depth analysis of complex issues Take action

5 Decision Making Ability to make sound decisions based on policies, procedures and experience Setting objectives, determining strategy and implementing a plan Decisions that support achieving strategic direction Take action 5. Working in Teams Work collaboratively to accomplish common goals Lead in team development and in identification of team roles, responsibilities and goals Lead project teams and ensure collaborative relationships Understand team dynamics Provide focus and direction Recognize and celebrate team successes Lead in development of strategies to improve team and individual performance Enable team members to make decision within the scope of their position 6. Innovation/Creativity Finding and communicating new ideas for old problems Presenting new ideas that have productive outcomes (results in the generation of practical applications or development of new procedures) Pushing the limits of knowledge and ability to identify and create new ideas/solutions Development of new programs and policies 7. Strategic Thinking and Planning Ability to relate actions to the strategic plans of the organization Knowledge of the organization and the credit union system Recognition of global implications Sensitivity to organizational cultures Implement strategic plan and through actions, motivate others to achieve corporate direction Ensuring priorities are strategically based In cooperation with the Operating Board, establish and confirm vision and strategic direction Identify an organization structure and management style to meet organizational objectives Using strategic plan, develop, prioritize and implement organizational plans and strategies