Coast Capital Savings Federal Credit Union Location:
British Columbia (CA-BC), Surrey Job Type:
Full-Time Together, we help empower you to achieve what's important in your life. What's the job?
The Director, Financial Crime Compliance & Deputy CAMLO plays a critical role in protecting Coast Capital and its subsidiaries against significant regulatory, legal and reputational risks. This key leadership role in the second line of defense critically assesses management's documents/practices and provides oversight of the operationalization of Coast Capital's financial crimes compliance programs. This includes development and maintenance of mechanisms to measure financial crime compliance strategies, ensuring rigorous implementation across all functions within the business. In particular, it includes the ongoing build-out and implementation of financial crime compliance frameworks and policies including Anti-Money Laundering and Anti-Terrorist Financing (AMLATF), Sanctions, and Anti-Bribery and Corruption. This role will also be a key liaison with regulators and industry associations, and drive internal reporting to senior management and the Board of What you'll get to do:
Who are we looking for?
- Collaborate with internal compliance teams to identify clear steps to mitigate regulatory risks and provide clear recommendations and business requirements.
- Liaise with and manage requests from applicable regulators in relation to reviews and examinations, as required, coordinating documentation collection and responses as appropriate
- Challenge financial crime compliance materials provided to the Operational Risk Committee (ORC) ensuring the effective identification, assessment and management of financial crime risks across Coast Capital are in line with the approved risk appetite statements
- Oversee continuous monitoring of Coast Capital's environment (industry, operating and regulatory) and the inherent financial crime risks to identify and effectively respond to changes in the inherent risks, consulting with accountable executives for each separate risk identified
- Oversee the review and updating of Coast Capital's enterprise-wide financial crime compliance policy and program documents.
- Monitor regulatory developments and emerging industry trends (including participation in industry group meetings such as the CBA) and translate and communicate discoveries into actionable items by partnering with key stakeholders to ensure implementation of approved changes to Coast Capital's financial crime compliance programs occurs.
- Proactively promote a strong financial crime compliance culture across the enterprise and all lines of defence.
- Perform responsibilities with high ethical standards and professionalism
- Responsible for continued build-out and maintenance of the financial crime compliance oversight program including creation and maintenance of mechanisms to oversee material processes and action plans related to financial crime compliance.
- Prepare reports to senior management and the Board of Directors, detailing oversight actions and escalating key or high-risk compliance issues.
- Oversee the effectiveness of financial crime compliance training for Coast Capital.
- Oversee Project Risk Assessments; including maintaining relationships with Enterprise Project Management Office, which promote effective consideration of financial crime compliance risks in projects
- Ensure Coast Capital is compliant with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act/Regulations and other Canadian terrorist related laws/regulations (e.g. under the Criminal Code of Canada, and related to sanctions, and anti-bribery and corruption) in a manner that meets the requirements of applicable regulators (including FINTRAC and OSFI), and in line with changing industry standards.
- Manage ad hoc analyses as required by the Chief Risk Officer or the VP, Compliance relating to financial crime compliance
- Consult with leaders (including at the executive level) across Coast Capital who are responsible for processes to ensure effective management of financial crime risk inherent in the process
- Consult with leaders responsible for business planning and strategic planning to ensure effective consideration of financial crime risks
- Ensure appropriate oversight occurs by providing second line monitoring and challenge to financial crime compliance operations and investigations teams.
- Recommend Coast Capital's financial crime compliance risk appetite thresholds
- Proactively identify situations that may pose compliance risk and guide management in the development of action plans to address those (including oversight of the action plans).
- Manage and/or provide oversight of technology which supports financial crime risk management, including as appropriate, data management for individual risks identified
- Minimum 10+ Years of Job Related Experience.
- In-depth financial crime compliance experience is mandatory. Demonstrated experience developing and maintaining relationships with colleagues which includes providing constructive feedback to colleagues is required. Experience in process design, improvement and/or experience in more than one type of risk under the umbrella of risk management is desirable.
- Bachelor's Degree or a diploma requiring 3 - 4 years of full-time study.
- Certified Anti-Money Laundering Specialist (CAMS) designation required. Other formal education or equivalent experience in AMLATF risk management, internal controls management, governance and assessment (audit), or project management desired. Other formal training or equivalent experience in people management, change management, facilitation, negotiation, or communication desired.
- Strong knowledge in MS Excel, Word, Outlook and PowerPoint
- Strong understanding in developing policies, procedures and processes
- Strong workshop facilitation or teaching skills
- Strong ability to gather data/information and create reports
- Strong ability to identify emerging risks, conceptualize their impact, and initiate appropriate action to manage the risks
- Strong understanding of the processes and procedures used across the organization (e.g. relating to project management, retail operations, commercial operations, and back-office functions)
- Strong knowledge of AMLATF regulatory requirements and practices to manage AMLATF risk
- Strong leadership and change management skills
- Strong ability to develop people through coaching/mentoring to help drive performance
- Strong oral and written communication skills; able to present information in a clear and concise manner at all levels of the organization
- Strong ability to prioritize initiatives and manage time and resources effectively
- High ethical performance standards and professionalism
- Strong ability to foster professional and respectful relationships at all levels, both internally and externally
- Strong analytical, problem solving, negotiating and influencing skills
At Coast Capital, we value diversity, equity and inclusion. We're not all the same and we like it that way. We don't just accept differences - we celebrate, support, and we thrive on them for the benefit of our employees, our members, and our community. We are committed to building a team that represents a variety of backgrounds, perspectives, and skills. We believe, the more inclusive we are, the better our work will be.