Risk & Compliance Analyst

Position Description

The Risk & Compliance Analyst is responsible for executing Operational Risk & Regulatory Compliance reviews. Provides oversight, advice and analytical services related to all aspects of First West's Regulatory Compliance Management and Operational Risk Management Framework. Reporting to the Manager, Risk & Compliance this role provides thematic reviews, testing and reporting on regulatory and operational risk issues in line with First West's annual Compliance testing plan. As part of the 2nd line, the Risk & Compliance Analyst helps protect First West from significant operational and regulatory risks.

Accountabilities

• Regulatory Compliance Management Framework : Provides independent 2 nd line testing and oversight of the First line's implementation and maintenance of First West's operations in line with the Regulatory Compliance Management Framework. Conducts thematic reviews of First West's business units, policies, procedures, systems, processes, controls and First line testing to ensure that First West is compliant with all legislative and regulatory requirements enterprise wide.

• Regulatory Requirements: Monitors changes to legislative and/or regulatory requirements and helps to identify associated impact(s) on First West operations and controls. Designs the scope and delivers thematic reviews to identify gaps in legislative and regulatory requirements and helps to ensure the adequacy and effectiveness of controls to meet those obligations. Uses expertise to provide senior management with recommendations where changes are required to ensure regulatory compliance and to align with First West strategic direction.

• Reviews and Reporting: Provides oversight and challenge to the First Line of Defence operations, policies, processes, systems and controls by planning, leading and executing 2 nd line testing and reviews over First West's regulatory compliance and, where appropriate, operational risks. Develop methodologies and tools to assist in the review of controls, supported by reporting that assists business leaders in their understanding of related issues and aides the remediation of risks and regulatory obligations in their functional area.

• Risk Awareness : Maintains professional development in banking legislation. Provides expertise, support, education, and training to the first line to build risk awareness and regulatory compliance knowledge at all levels across the organization.

• Projects : Participates in Regulatory Compliance and Operational Risk projects in response to emerging risks, requests from regulators or preparation for regulatory examinations. Supports First West's current and future strategic initiatives and Federal journey through oversight of first line activities completed and conducting gap analysis against existing, outstanding, or newly imposed requirements. Monitors and ensures timeline and checkpoints are met for compliance projects.

People/Thought Leadership

• Provides functional/technical guidance or advice to other employees (no direct supervisory responsibilities)

Qualifications

• Diploma or equivalent experience required
• Required:
• Experience working in the financial services industry
• Experience following an audit program
• Experience in retail, business and commercial operations
• Experience in preparing and delivering written reports to senior management
• Experience with regulation applicable to FRFI's (The Bank Act, OSFI, FINTRAC, FCAC & CDIC)
• Audit, Regulatory Compliance or Risk Management designation preferred

Competencies

• Demonstrated leadership and influencing skills in order to lead and motivate others to achieve objectives
• Proven analytical skills and meticulous attention to detail with ability to understand technical documents and legal regulatory materials
• Strong interpersonal skills and ability to navigate challenging conversations and influence risk culture to interact effectively and build long-term relationships with a wide variety of stakeholders.
• Exemplary written and verbal communication and report writing skills

Skills

• Proficient with computer software applications e.g. MS Office, including MS Excel
• Proficient knowledge and understanding of Audit methodologies

Travel

• Overnight travel may be occasionally required, up to 6 times per year

Risk Management

• Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.

What's in it for you:

First, we strive to make our team members feel genuinely rewarded. You'll have:

• Mental health coverage and resources
• Customizable health benefits, as well as topped-up parental leave
• Performance-based compensation, employee banking advantages and group RRSP matching
• Vacation time and flexible work arrangements to support your lifestyle

We are committed to providing a fair, equitable, and competitive rewards package that reflects the value an individual brings to our organization. The compensation mentioned in this job posting should serve as a guide. The total cash compensation earned may vary based on a variety of factors including bonuses and/or incentives, an individual's skills and experience, and may correlate with performance in the role.

We also provide and encourage opportunities for our employees to make a meaningful impact. After all, as a credit union we're powered by giving back—in big ways and through small gestures. That's why we offer employees paid time off to volunteer, partner with thousands of local charities, build long-lasting relationships that help our members get ahead and commit to environmental, social and governance (ESG) practices.

By joining our team, you'll be able to elevate your potential. Wherever your own purpose leads, we're here to support you with award-winning in-house training programs, access to LinkedIn Learning, and reimbursement for external courses to help you get ahead.

Take the next step in your career as part of our team. Apply for this opportunity

Candidates, please note: if you are being considered for this role, you will be required to complete a background check, such as employment verification, credit check and criminal record check.

Diversity, Equity, Inclusion & Belonging

At First West Credit Union, we embrace diversity regardless of gender identity or expression, sexual orientation, religion, race, ethnicity, age, diverse ability, and any aspect that makes someone unique. Inclusion is woven through our organization, from our employee-led network groups, hiring practices and education programs that address barriers and continually grow our equitable, diverse and inclusive culture.

We encourage people who are from equity-deserving groups to apply for a career with us, including women or non-binary people, persons with diverse abilities, Black, Indigenous Peoples, People of Colour and members of 2SLGBTQIA+ communities.

If an accommodation would help you during the process of applying or interviewing for a career with us, please let us know how we can assist you, whether it's preparing materials in an alternate format, booking an accessible meeting room or other arrangement.

Your individuality is welcome here.

About Us

We're a financial cooperative that does things differently. We provide time-tested advice that helps our members feel optimistic about their future, and we offer comprehensive banking solutions that enable people to confidently reach their goals. With the financial strength and extended branch network of a large financial institution, we maintain local connections to our communities and take a unique grassroots approach to service. Our more than 250,000 members and approximately 1,250 employees operate from 45 branches throughout the province of BC, under the Envision Financial, Valley First, Island Savings and Enderby & District Financial brands. Visit for more information on First West Credit Union.

Please know we appreciate your interest in us but only candidates selected for an interview will be contacted.