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Senior Vice President, Compliance Strategy

2 months ago


Toronto, Ontario, Canada SMBC Group Full time

Position Overview

The Senior Vice President, Compliance Strategy is accountable for steering the compliance framework within the organization. Reporting directly to the Director of Regulatory Governance, this role involves collaboration with the Corporate Compliance team to manage regulatory transformations and implement the compliance risk management program for the Canada Branch.

The individual in this position will oversee various compliance-related activities, including the management of compliance inventories, risk evaluations, program reporting, and the administration of compliance policies and procedures.

Acting as a compliance expert, the Senior Vice President will provide guidance on essential Canadian regulations, including the Canadian Bank Act, OSFI Guidelines, Privacy Act, and PCMLTFA / PCMLTFR. This entails conducting thorough research and analysis of legal and regulatory matters to facilitate the Branch's responses to regulatory shifts and to support ongoing compliance risk management efforts.

Additionally, the role may encompass the administration of ongoing initiatives and the delivery of change management projects.

Key Responsibilities

The Senior Vice President will be tasked with a range of responsibilities, including:

Advisory Services: The incumbent will serve as a subject matter expert, offering insights and advice to the Canada Branch on topics such as the Bank Act, Privacy regulations, OSFI Guidelines, and other compliance-related policies. This role also involves providing constructive feedback and advisory support for new products and business initiatives.
Regulatory Change Management: The Senior Vice President will lead the execution of compliance-related activities, which include:
- Monitoring and addressing regulatory changes
- Maintaining libraries of compliance regulations and controls
- Coordinating regulatory compliance risk assessments
- Managing compliance-related issues
- Preparing periodic program-related reports
Compliance Project Leadership: The incumbent will design and implement various corporate compliance projects and action plans to address compliance issues identified by the Corporate Compliance Department.
Policy and Procedure Oversight: The Senior Vice President will oversee the management of compliance-related policies and procedures for the Canada Branch, acting as a liaison with the central policy management team and coordinating policy management activities.
Data Governance Management: This role includes overseeing key aspects of compliance data governance, managing inventories of compliance-related assets, and supporting continuous improvement initiatives related to compliance data governance.
Administrative Support: The Senior Vice President may assist with various compliance administrative tasks, including regulatory filings, completion of necessary registrations, and managing compliance committee activities.

Interpersonal Engagement

The Senior Vice President will engage with a variety of internal and external stakeholders, including:

Internal Stakeholders:
- Senior Management and Department Heads of the Canada Branch
- Regional Office (Americas Division)
- Employees of the Canada Branch
External Stakeholders:
- Regulatory Authorities
- External Legal Counsel
- Consultants

Qualifications and Skills

Education:
- Bachelor's degree (Required)
- Juris Doctor (JD) or Bachelor of Laws (LLB) from a recognized Canadian law school, with good standing to practice law in Canada (Preferred)

Experience:
- Minimum of three (3) years in financial services compliance (Required)
- Preferred experience includes two (2) years in a leading Canadian law firm or as in-house counsel for a federally regulated financial institution. Knowledge of international financial institution operations is advantageous.

Skills:
- Exceptional organizational abilities with a capacity to manage multiple projects and priorities while meeting quality and time constraints.
- Team-oriented with a focus on leading projects and mentoring team members.
- Strong problem-solving skills, with the ability to analyze complex information and develop actionable plans.
- Excellent relationship-building capabilities, fostering collaboration among stakeholders.
- Proficient communicator with strong written and verbal communication skills.

Note: Candidates who do not meet all qualifications may be considered for a lower-level position.

Working Environment

The role is characterized by significant time pressures and multiple demands, requiring careful attention to detail within an open office environment that supports hybrid work arrangements.

About SMBC Group

SMBC Group is committed to providing reasonable accommodations for employees and applicants with disabilities in accordance with applicable law. SMBC is an equal opportunity employer.