Operational Risk Control Specialist

3 weeks ago

Toronto Ontario CA, Ontario Apex Systems Full time

Operational Risk Control Specialist


Apex Systems is a global IT services provider, and our staffing practice has an opening for a Operational Risk Control Specialist with experience in business and operations testing, control testing, and regulatory compliance to support enterprise-wide initiatives at our client, a leading bank.


Client: Big 5 Bank

Location: Downtown Toronto. 1-2 days per week in office.

Duration of Contract/Perm: 1 year contract with potential to extend or convert

Hours/week: 37.5 hours/week


Group: Business Management

LOB: Wealth

Position Overview: The Operational Risk Control Specialist will be responsible for executing and documenting the 1LOD testing program for the Wealth Line of Business, ensuring adherence to the Enterprise Compliance Program and Operational Non-Financial Risk Framework. This role involves designing and implementing monitoring and testing procedures, communicating findings, and providing compliance support across Wealth Management businesses.


Key Responsibilities:

  • Deliver on components of the 1LOD testing plans for Wealth LOBs' in accordance with the Enterprise Compliance Program and Operational Non-Financial Risk Framework
  • Execute the 1LOD testing program for the Wealth LOBs and documenting results, outcomes as required.
  • Understand Enterprise Compliance Program and Operational Non-Financial Risk methodology.
  • Design and implement specific monitoring and testing procedures for each applicable area of review, which may include development of new monitoring and testing scripts.
  • Understand Wealth business processes across multiple entities across North America
  • Understand controls that support regulatory compliance and manage other sources of ONFR.
  • Access and update the enterprise compliance book of record GRCE
  • Communicate M&T identified issues to the businesses, 1LOD Compliance Advisory, 2LOD Compliance, 2LOD Risk.
  • Raise compliance and control related awareness with the businesses and provide appropriate advice and guidance to mitigate exposures and risk. For issues identified, provide root cause analysis and recommendations to management.
  • Identify opportunities to improve the effectiveness of testing
  • Act as a liaison and compliance support to various internal business partners across the Wealth Management businesses.
  • Prepare reports and related test results dashboard for various stakeholders including management.

Qualifications:

  • 7+ years’ experience in a compliance, control testing, or audit role ideally in a dealer and/or portfolio management environment.
  • Knowledge and understanding of IIROC rules and regulations applicable to dealer representatives and OSC rules applicable to portfolio managers and investment fund managers.
  • Excellent data analysis skills, organizational, analytical and communication skills.
  • Exhibit strong planning skills
  • Successful completion of the Canadian Securities Course is preferred.
  • Working knowledge of information technology tools required including: MS Excel, MS Word and portfolio management or investment industry software.
  • Ability to demonstrate effective use of judgment, interpretation, knowledge and skill in the application of regulations and compliance requirements.
  • Ability to independently deliver on complex assignments with competing deadlines
  • Excellent interpersonal skills and strong written and verbal business communication skills.
  • Familiarity with Wealth regulatory requirements (e.g. OSC, IIROC, SEC, OCC, etc.)
  • Familiarity with Investment Funds (key regulations include NI 81-102, 81-107, etc.)
  • Experience in the planning and execution of testing (e.g. Audit, OSFI E-13, etc.)
  • Understanding of risk and controls


Please note: this role will not be a match if your experience is primarily in technical/QA testing. The Hiring Manager is specifically seeking a candidate with expertise in business and operations testing.

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