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A global Financial Services firm offering Corporate, Wholesale and Investment Banking business lines is seeking a Sr. level Compliance Officer to oversee their flagship Canadian Branch, located in Montreal (Relocation assistance from Toronto to Montreal is available).
The role of the Canada Branch Compliance Officer is to ensure that the firm and its employees conduct business in accordance with all applicable rules and regulations, including but not limited to the rules and regulations of the Office of the Superintendent of Financial Institutions (OSFI), the Bank Secrecy Act, the USA Patriot Act and other Canadian and global regulatory requirements that will apply to the businesses conducted by the company in Canada.
Reporting locally to the Principal Officer of the Canada Branch and globally to the Chief Compliance Officer for the Americas, the Compliance Officer will be in charge of developing and assisting the implementation of a robust Compliance Program for their Canada Branch. In doing so, the Compliance Officer will provide actionable advice and insight to all businesses across all activities. Such advice includes but is not limited to anti-money laundering & government sanctions, insider trading, conflicts, trading and sales practice, regulatory reporting, and other new regulatory initiatives within the Americas and globally that may have an impact on the activities carried out by the Canada Branch.
The Compliance Officer will also be in charge of steering and managing on a day-to-day basis the integration of the Canada Branch Compliance Framework within the Americas CIB Compliance Program developed from New York for Canada.
The Compliance Officer will also support the Senior Country Manager, as necessary, in the day-to-day operations of the Canada Branch as listed below.
Manage all aspects of Compliance support and guidance to the team in Canada as well as the Support Functions involved with the Branch's activities in accordance with relevant regulatory requirements (e.g. OSFI, ECB);
Provide Canada Branch staff with regulatory risk analyses and training on new regulatory developments impacting the Canada Branch businesses;
Provide Quarterly Compliance updates/reports to the Canada Branch Principal Officer;
Implement Second level testing and monitoring of First level controls that are conducted by the business
Provide opinions regarding the adequacy of First level controls to achieve compliance with applicable Canadian regulatory requirements;
Support Canada Branch employees' efforts to comply with company policies and procedures as they relate to anti-money laundering, work with Americas Compliance to develop and maintain local AML policies and procedures, being cognizant of new AML and Sanctions laws, regulations and industry best practices that apply both locally and globally;
Evaluate internal controls and anti-money laundering compliance programs through transaction analyses, compliance reviews and training sessions;
Be responsible for managing regulatory and internal audit examinations of Canada Branch activities; responding to regulatory inquiries, escalating findings and following up as necessary;
Coordinate closely with Compliance colleagues in the Americas and Head Office on cross border activities;
Review global compliance policies and procedure from Americas and Head Office Compliance and fine-tune them as needed to comply with local requirements while being an inherent part of the worldwide Compliance program;
Superior communication skills are a must. Skillful written communication is necessary; the ability to convey thoughts clearly and succinctly and to communicate pertinent complex information in a clear and organized manner.
Fluency in English and French (oral and written) is required.
4-year degree in Economics, Finance, Business Management, or equivalent. MBA, JD, or equivalent advanced degree helpful but not required.
10 years' experience in Compliance advisory background within a global financial services firm or with a regulator required.
Experience/contact with Canadian securities regulators, specifically experience/contact with local regulators in Canada (mainly OSFI).
In-depth experience with Canadian regulatory requirements applicable to lending branches.
Demonstrated success in establishing a comprehensive compliance program in Canada for a financial institution with a global footprint.
Demonstrated success in developing a "culture of Compliance" and integrating compliance in day-to-day business activities.
Knowledge of local regulations including, but limited to, regulations on selling practices. Experience in the creation and execution of a compliance program, including development of risk assessment methodology, development of annual control and training plans, and responding to regulatory inquiries and potential findings, among other things.
Extensive knowledge of Canadian financial markets and products is highly valued. Experience applying financial markets regulations is required.
Knowledge of ongoing developments, regulations, and industry best practices surrounding Information Security a plus.
Please email resumes to Jack Kelly at Jack@compliancesearch.com