Description:
The Compliance Manager will work closely with the Complex Compliance Manager in managing the end-to-end account opening processes related to complex accounts (ie. multi-layered entity), including but not limited to trusts, foreign entities, and other non-common account structures, to ensure all complex accounts are opened efficiently with appropriate documentations in full compliance with AML, QI/FATCA/CRS and other regulatory requirements. The position reports to Director, Compliance.
In addition, the incumbent may also be involved with assisting the team with daily operations, including but not limited to inquiry responses, compliance related money & security movement requests, responding to regulatory audit and inquiry requests and other duties as may be assigned and related thereto.
What You Will Do
Complex Account Review and oversight
- Review and provide guidance and reconciliation to FCC clients to ensure all required documentation and due diligence are completed prior to account opening.
- Complete end to end processing to open complex accounts.
- Collaborate with cross functional teams to ensure process and knowledge alignment and complex account requests are completed efficiently and in compliance with regulatory requirements.
- Provide assistance with various client account documentation.
- Provide guidance/answer inquiries relating to QI/FATCA/CRS.
- Collaborate with Complex Compliance Manager to create and update procedures relating to complex account opening.
Training and Guidance
- Provide training to team members assisting with complex account opening review.
- Collaborate with Complex Compliance Manager to develop and maintain training material on complex accounts and provide training to internal teams and clients on best practices and regulatory requirements relating to complex accounts.
CRM II related monitoring
- Assist with the development and execution of testing measures for Performance Reporting. Fee Disclosure Reporting, Last vs Bid and Ask pricing discrepancies and statement disclosure.
- Participate in CRM II yearly reporting as Compliance contact for the project.
Compliance and risk support
- Advise, train, and develop awareness of compliance related issues among FCC employees.
- Interpret both internal policies and regulatory instruments to resolve complex issues for FCC and clients.
- Collaborate with internal partners to increase process efficiencies.
- Assist with monthly pricing review.
- Update and review existing policies and procedures annually or as required.
- Act as a backup for response to regulatory requests.
- Assist as required in processing and analysis of risk daily workflow.
- Assist in answering in compliance inquiries, include but not limited to money movement, general compliance related questions and escalations.
Incident escalation and management
- Ensure all incidents are escalated appropriately to the Complex Compliance Manager, Director, Compliance and/or Chief Compliance Officer.
- Assist with regulatory reporting of high-risk items to either FINTRAC or CIRO.
- Record keeping and retention of all back up materials.
What We’re Looking For
- University Degree in a related field or equivalent experience
- 5+ years of experience in broker/dealer relations, compliance, and/or operations, with a strong focus on complex account opening, KYC, AML or regulatory compliance
- Ability to collaborate effectively with cross-functional teams, including operations, compliance, legal, audit and risk
- Ability to work well to deadlines and proactive, organized and capable of managing multiple priorities.
- Good inter-personal skills, especially the ability to work well with partners and senior management to resolve sensitive issues
- Excellent written and verbal communication skills as well as presentation skills
- Detail-oriented with strong analytical and problem-solving skills
- High level of proficiency with Microsoft Excel and PowerPoint, and good working ability with other Microsoft applications
- Experience in managing cross-functional projects, related to process improvement, compliance technology implementations
- French language skills is nice to have
- An understanding of internal controls and their development and testing is an advantage
Expertise You will Bring
- In-depth knowledge of regulatory frameworks related to account opening, AML, KYC, and complex client structures.
- Comprehensive knowledge of Canadian financial regulations, including FINTRAC, CIRO, CSA, QI, FATCA, CRS and relevant securities law.
- Strong interpersonal skills, especially the ability to work well with clients, key partners, and senior management to resolve sensitive issues.