Board Director, Chair of Audit Committee

1 week ago


Toronto, Ontario, Canada Pender & Howe Executive Search Full time
Position: Board Director, Chair of Audit Committee (Compliance and Risk Oversight)Organization: An international mid-market financial services institution (confidential)Location: OntarioAbout Our client is an international mid-market financial services institution, established in 1984 and has grown with a significant international presence across six continents and a network spanning 49 countries and regions. Providing financial products and services to 9.7 million corporate customers, it has consistently received top rankings in prestigious industry lists, underscoring its leadership in the financial sector. Additionally, it has been acknowledged as the most valuable banking brand globally for multiple years.In Canada, the institution operates as a chartered bank offering a wide range of retail and corporate banking services. It is predominantly owned by its international parent company, with a minority stake held by another banking entity. With branches, centers, and a premium banking office in major cities across several provinces like Ontario, British Columbia, Alberta, and Quebec, the institution's service offerings include deposits, loans, settlement remittances, trade finance, foreign exchange trading, and more for both corporate and retail banking needs.Utilizing strong management, advanced technology, and a diverse range of products and services, the institution is dedicated to serving clients in Canada and fostering economic and trade relations between Canada and other countries.Position Overview The Director's primary role is to lead the audit committee responsible for financial reporting, internal controls, and regulatory compliance, including anti-money laundering regulations. The ideal candidate should have a proven career history in the Canadian Financial Services industry, experience in a complex regulatory environment, and corporate lending experience. A Chartered Professional Accountant (CPA) qualification would be beneficial.Understanding the Board's duties and responsibilities, being available for critical matters and crises, and possessing business, financial, communication, and leadership skills are essential for the Director.Key Responsibilities The Director will supervise the Audit Committee, overseeing the bank's Regulatory Compliance and Anti-Money Laundering. Responsibilities include:
  • Assessing and recommending the Regulatory Compliance Management Policy and AML/ATF Policy for Board approval.
  • Reviewing CCO's reports and providing guidance on compliance matters.
  • Reviewing AML/ATF reports, internal audits, and compliance functions.
  • Undertaking duties related to compliance matters and the AML/ATF program delegated by the Board.
  • Reviewing compliance effectiveness reports as per Canadian AML/ATF legislation.
Application Process with Pender & Howe Executive Search Pender & Howe Executive Search is leading the recruitment for the Board Director, Chair of Audit Committee (Compliance and Risk Oversight) position. Specializing in executive search, Pender & Howe collaborates with human capital leaders and governing boards to identify exceptional talent.Led by Michelle Moore, the search process requires applicants to submit their CV for consideration.While all applications are appreciated, only selected candidates will be contacted for interviews.

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