Manager, Regulatory and Financial Governance

6 months ago

Toronto, Canada RFA Bank of Canada, RFA Mortgages Corp. Full time

RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending). Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.
RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.
The Opportunity
Reporting to the VP, Finance, this role will assume responsibility for all governance related matters within the finance team including ownership of risk assessments and controls, and the review and oversight of Regulatory Reporting and Compliance.
Financial Governance
- Lead of the following Finance Governance items in relation to risks and controls with support from both the Finance and Treasury teams:

- Develop and implement the financial policies, procedures and mandates of the Bank.
- Maintain inventory of controls with mapping to relevant risks
- Identify and document new controls and control gaps within Finance and Treasury
- Management of the end user computing (“EUC”) program for both Finance and Treasury with support from both teams
- Review and challenge all Financial EUCs identified and owned by other departments
- Annual review and ongoing monitoring and reporting of Finance and Treasury “Risk and Control Self Assessment Program” (“RCSA”)
- Management of Finance and Treasury IT General Controls (“ITGC”) including annual review of access controls including systems, network drives and banking portals
- Attend and provide updates for Finance and Treasury at Non-Financial Risk Governance Meeting
- Responsible for leading Finance and Treasury’s vendor management program in coordination with the Bank’s Third-Party Risk Management team, including:

- Vendor due diligence including annual review and ongoing review of Service Level Agreements
- Annual review of vendor exit strategies
- Annual review and control mapping for vendor SOC and 3416 reports
- Responsible for oversight of obligations within investor contracts and credit facilities including:

- Ensuring adherence to reporting requirements
- Obtaining attestations for negative covenants within the agreements
- Preparation and submission of Financial Covenants within the agreements
- Lead annual updates to the Bank’s resolution and recovery plans
- Annual update for department Business Continuity Plan and Data Recovery processes
- Ad-hoc initiatives such as critical process or workflow mapping

Regulatory Compliance
- Ensure completion and perform first-level review of all monthly, quarterly, and annual regulatory returns,
- Management of Data Systems Requirements testing exercises and updates as required by regulators including coordination with third-party servicer to update and manage reports as needed.
- Perform first-level review and reasonability analysis for all regulatory requirements including B-20 and Pillar 3 disclosures,
- Ongoing monitoring of the regulatory environment to ensure compliance with new guidelines where applicable,
- Continuously look for opportunities to enhance preventative and detective controls as it relates to regulatory filing process and enhance the risk management environment of the organization including automation and implementation of new systems,
- Annual completion of Regulatory Risk Assessments and ongoing review of the program,
- Work with analyst and VP Finance to respond in a timely manner to ad-hoc requests from internal audit, external audit, internal compliance or external regulators.

People Management
- Coach and develop analyst on an ongoing basis through objective setting, performance reviews and identification of strengths and areas of development.

**What you can bring to RFA**:

- Experience with OSFI and CDIC regulatory filings
- Experience working in a regulated institution with familiarity of various risk and control programs (RCSAs, EUCs, etc.)
- Experience using NetSuite and other Regulatory Systems is an asset but not required

**Benefits of Working at RFA**:

- Health & Dental Care
- Vision Care
- RRSP Match
- Vacation & Personal Days
- Hybrid working environment
- Collaborative workstyle,
- Strong verbal and written communication skills,
- Ability to multi-task, work under pressure and meet deadlines as required,
- Ability to work independently with strong attention to detail,
- Demonstrated leadership skills, with ability to influence and gain support for objectives.

Accessibili

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