Assistant Vice President Governance Operational Risk and Compliance

3 weeks ago


Edmonton, Canada Credit Union Deposit Guarantee Corporation Full time

About the Credit Union Deposit Guarantee Corporation

cudgc.ab.ca

Established in 1974 as the Credit Union Stabilization Corporation, we are a pillar of financial security for Albertans. We began with a simple goal – to insure 100% of Alberta’s credit union deposits. In 1976, we broadened our scope by including credit adjudication in our services.

The 1980s were challenging – marked by the Alberta real estate collapse in 1982 and a total Alberta Credit Union loss of $92 million in two years. These challenges sparked a restructuring of the credit union system, leading to the Government of Alberta providing financial backstops to the Credit Union Stabilization Corporation and appointing an independent Board of Directors.

In 1989, we adopted a new name – the Credit Union Deposit Guarantee Corporation. We have continued to innovate and modernize our regulatory practices, introducing standards of sound business practice in 1998, starting prudential regulation in 2008, and implementing stress testing in 2015.

In 2017, credit union legislation was modernized in Alberta, bringing us in line with global best practices. With every passing year, we remain committed to ensuring the financial well-being of Alberta’s credit unions.

Our Mandate

Our mandate is to provide risk-based regulatory oversight and a deposit guarantee to enable Alberta’s safe and sound credit union system.

Our Vision and Purpose

Our vision is an Alberta credit union system that is safe, sound, and competitive within the evolving global financial services environment.

Our purpose is to enable safety and soundness through providing financial institution regulation to jurisdictions within which we operate by being an employer of choice, taking an agile and collaborative approach, and leveraging technology.

Core Values

We are driven by six core values that define who we are and what we stand for:

  • We act with integrity. We consistently and responsibly carry out our duties in a trustworthy, fair, and ethical manner.
  • We are curious. We ask questions and continually look for opportunities to innovate while managing risks.
  • We empower. We set clear expectations and empower others to do their best work.
  • We are collaborative. We embrace collaboration by respecting, encouraging and valuing diverse opinions and perspectives.
  • We are accountable. We take responsibility for our actions and hold ourselves accountable for delivering business results.
  • We care. We care for the psychological safety, health and well-being of one another.

The Opportunity

Reporting to the Vice President, Finance and Administration, the Corporation’s next Assistant Vice President, Governance, Operational Risk and Compliance (AVP), leads the execution of our fiscal management strategies, operational risk management framework, and compliance policies and programs.  Your strong communication skills and proven ability to solve complex problems will enable your team to create value through process optimization and reporting enhancements. As a member of our management team, you will demonstrate systems thinking and subject matter expertise to co-create solutions and deliver strategic outcomes. This role is responsible for managing the deposit guarantee fund in a cost-effective and compliant manner by:

  • Developing and maintaining governance and compliance policies and programs, including the Corporation’s investment policy and funding framework that is primarily comprised of a deposit guarantee fund and deposit insurance premiums paid by Alberta credit unions. 
  • Designing and overseeing the implementation of effective controls to mitigate financial and operational risks, including fraud and/or error.
  • Leading the preparation of management’s discussion and analysis, as well as other Executive and Board communications.
  • Ensuring accuracy and timeliness of corporate filings, including the annual tax return and public disclosures required under the GoA Fiscal Planning and Transparency Act.
  • Leading the development of position papers and process implementation plans to address emerging legislation, regulations, standards, and financial and operational risks.
  • Managing third-party relationships to mitigate risks, effectively monitoring the Corporation’s investment management, procurement, insurance and facilities programs. 
  • Actively participating in communities of practice with government, as well as other financial services regulatory bodies.
  • Working with key partners to pursue common goals and achieve consensus.
  • Contributing to a strong organizational culture through leadership and performance.

The Person

Qualifications & Education Requirements

The individual will have solid relevant academic preparation, preferably with graduate credentials.  Additional designations such as a CFA, CPA, ICD.D, and CIA would be considered strong assets.   The candidate will have extensive experience working in the field of governance, compliance, and operational risk within a regulated environment.  They will have strong experience in policy and legislation interpretation to provide further guidance on business decisions that will mitigate risks and identify potential consequences. 

They will have a track record of success working and leading small teams and be comfortable being a hands-on leader.  The candidate will also have solid experience working with and providing information to Board’s and committees to support them in their roles, ensuring they are able to make well informed decisions. 

The candidate will have a solid understanding of the Canadian financial sector, including regulatory authorities, financial markets, financial institutions, policy and legislation and a general understanding of national and international trends in the economy and in the financial services industry.  The individual will have a strong understanding of the unique Alberta economy, and a desire to serve Albertans.

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