Risk and Compliance Specialist

Job Description:

Risk and Compliance Specialist

Branch Location: Charlottetown, PE

Join Atlantic Canada’s largest credit union, Provincial Credit Union and become part of a team committed to positively impacting our island communities. Provincial Credit Union is honored to be recognized as one of Canada’s Top 100 Employers for 2024! This achievement reflects our commitment to maintaining a dynamic and supportive workplace. Our core values of People, Purpose, and Possibility guide our mission of providing sound financial advice, planning, and education to our members. We believe in empowering our employees to deliver and support quality member experiences and fostering engagement within our communities. Join us in making a difference as we lead the way in serving the financial needs of islanders.

What You’ll Do:

Risk Management – 50%

• Assist with the development and implementation of the organization’s enterprise-wide risk management framework.
• Work closely with internal stakeholders to identify and evaluate key risks across the enterprise, including credit, market, operational, regulatory and reputational risk.
• Collaborate with business units to design and implement effective risk mitigation strategies and internal controls.
• Identify and assess design efficiency and operating effectiveness of internal controls.
• Assist with ongoing monitoring mechanisms for third-party risk management, including risk assessment and due diligence processes.
• Promote a strong risk management culture across the organization by providing guidance on risk management principles, policies, and procedures.

Compliance – 50%

• Monitor and help ensure the institution’s adherence to all relevant laws, regulations and industry standards, including but not limited to those related to AML, PIPEDA, FATCA, and Market Code of Conduct.
• Assist in the development, implementation and periodic review of compliance policies, procedures, and guidelines to ensure they are up-to-date with regulatory changes and reflect best practices.
• Perform routine compliance monitoring and testing to assess adherence to established policies, procedures and regulatory requirements, including processes such as new account openings. Document findings and work with relevant teams to develop and execute action plans for remediation.
• Investigate potential compliance violations or internal breaches, ensuring that incidents are appropriately documented and reported to management.
• Foster a culture of compliance within the organization by engaging with employees, raising awareness, and providing ongoing support to ensure that compliance is embedded in day-to-day operations.

What You Have:

Required Education and Experience

• University degree with minimum three to five years relevant experience, preferably in a financial institution or regulated environment.
• Comprehensive knowledge and technical proficiency in risk management frameworks, such as third-party risk management, and regulatory requirements, such as AML, PIPEDA, FATCA, OSFI, CU Act, gained through education and business experience.
• Professional designation or business designation, such as CIA, CFE, considered an asset.

Skills and Abilities

• Excellent communications skills (oral, written, presentation, facilitation).
• Knowledge of risk management practices, internal audit and regulatory compliance.
• Proven ability to work effectively in cross-functional teams and to interact with all levels of management and staff.
• Strong interpersonal and influence skills, with the ability to build relationship, persuade others, and drive alignment across teams and stakeholders.
• Excellent analytical and problem-solving skills, with the ability to assess complex situations, identify key issues and develop effective solutions.
• Proficiency in Microsoft Office applications (Excess, Word, PowerPoint), data systems, software applications and technology.
• This position requires some travel to the Credit Union branches throughout PEI.

What we offer:

• Outstanding Culture: Join an engaged and community-focused team that fosters a positive work environment.
• Market Competitive Compensation: Enjoy a competitive salary along with an annual bonus program.
• Generous Benefit Package: We provide a comprehensive benefits package, including a flexible health and dental plan, sick time, and a Defined Contribution Pension Plan and Group Retirement Saving Plan with up to 9% employer contribution.
• Work-Life Balance: Start with three weeks of vacation per year, supplemented by four personal days and two volunteer days.
• Professional Development: Take advantage of tuition reimbursement, training programs, and career progression opportunities.
• Employee Perks: Enjoy additional perks such as an annual fitness and clothing allowance, reduced rates on employee loans and mortgages, and no service fees on banking transactions.
• Salary range for this position: $65,047 – $76,526.

Join our team at Provincial Credit Union and enjoy a rewarding career with competitive compensation, comprehensive benefits, and a supportive work environment that values your growth and well-being.

Please note that all offers of employment are conditional upon the acceptance of an Individual Fidelity Bond Application which includes a criminal check and a credit check.

Closing date is January 3rd, 2025.

Diversity and Inclusion:

Provincial Credit Union invites applications from all qualified individuals. Provincial Credit Union is committed to employment equity and diversity in the workplace, and welcome applicants from diverse backgrounds. Accommodation is available for applicants with disabilities throughout the recruitment process.

Tagged as: 11201