Analyst, Regulatory Compliance

Career Opportunity

Role Title

Analyst, Regulatory Compliance

Purpose of role

Reporting directly to a Senior Manager, the Regulatory Compliance Analyst is responsible for supporting, evolving and maintaining a robust risk-based Regulatory Compliance Program in line with OSFI’s Guideline E-13.

The incumbent joins a small team responsible for oversight, guidance, advice, and effective challenge to meet Foresters obligations with respect to management of regulatory compliance risks. The role also supports regulatory change management and will be involved with the development and management of a compliance monitoring and testing program, operation of an issues management program, and effective reporting for each. This is a Hybrid role, requiring a minimum of two (2) days/week onsite.

Job Description

Key Responsibilities
- Work with the Senior Manager and other Compliance team members to operate an effective and efficient regulatory compliance management (RCM) program in line with best practices and regulatory expectations
- Support the administration and management of a GRC tool and/or regulatory compliance tools used to maintain a comprehensive regulatory inventory, identify and manage regulatory compliance risks, log compliance controls, gaps or issues, and report on regulatory risk
- Focused support on regulatory change processes and refinement of the regulatory inventory
- Identify and troubleshoot GRC system issues, implementing solutions where possible or escalating appropriately
- Stay abreast of applicable RCM regulatory developments, trends and best practices to support the continual evolution of the RCM program to meet business, Compliance and regulatory expectations
- Work with Compliance team members on the development, implementation, management and execution of a revised risk-based compliance monitoring and testing framework
- Monitor regulatory developments and trends that may impact Forester's business
- Oversight and escalation of outstanding various RCM assessments
- Provide effective review and challenge to business units on the assessment and management of compliance and associated risks with regards to controls and corrective action plans
- Participate in the Compliance issue management process, including the logging, analysis and remediation of such issues
- Assess recurring compliance exceptions or incidents for ongoing trends and document on GRC system for further analysis and mitigation
- Support relevant compliance policies, standards and procedures ensuring they are appropriately documented and maintained
- Represent Foresters and participate in various industry groups and /or committees
- Assist with advising, and development of awareness on RCM issues among the business

Key Qualifications
- Minimum of 3+ years of directly related work experience in Compliance at a CDN or US financial institution, in particular RCM experience
- Prior experience and working knowledge of GRC tools; LogicGate and CUBE would be an asset
- Ability to manage complex technical systems
- Background or experience in risk management
- Post-secondary degree (or equivalent work experience)
- Comprehensive understanding of compliance risk management principles impacting CDN financial services organizations, ideally including life insurance
- Strong critical thinking and analytical skills with a focus on problem solving and continuous improvement
- Sound and balanced professional judgment to identify and escalate issues, assess risks and controls, develop recommendations and modify plans
- Developing execution skills with attention to detail and focus on realistic action steps and timelines
- Experience working to distill complex and often ambiguous legal concepts into effective operational solutions
- Collaboration and communications skills (oral, written, presentation), ability to build relationships, engage and influence others. Must be comfortable communicating with individuals at all levels of the organization
- Practices sound judgement, including a high level of integrity and trust

Problem Solving and Analytical
- Incumbent will interact in person, via video/web conferencing, phone and written communications with internal and external stakeholders, including vendors, regulators, industry associations, outside lawyers and other consultants
- Incumbent will interact with and/or receive direction from the Senior Manager, the CCO, Compliance and other senior management on significant policy matters and will obtain support via Compliance, Legal, Internal Audit, Risk and other business management
- Incumbent will have latitude for decision making within the scope of job responsibilities
- Incumbent requires analytical and problem-solving skills to support the interpretation of complex regulatory and/or legal concepts, including supporting the team in diagnosing challenges and issues and developing action plans and innovative business solutions
- Ability to gather information on complex issues and situatio