The Manager, compliance and legal, provides support of compliance and legal portfolios of the regulatory compliance risk management framework within the Digital business area, while providing expert advice and guidance to assist the business in meeting its regulatory compliance obligations.
This includes being accountable to ensure that regulatory compliance management controls are in place, are adequate and are operating effectively, as well as providing advice and challenge to business area management in respect of material business decisions that include a regulatory risk component.
The manager, compliance and legal reports potential and actual material instances of regulatory risk management framework deficiencies, non- compliance, related action plans and material exposures to regulatory compliance risk to the the governance and corporate compliance teams.
- Ensuring management adherence to approved compliance risk limits in the Digital Division
- Identifying and reporting material issues of actual or potential non compliance in the Digital Division
- Provide challenge by constructively challenging management actions and decisions that appear to differ with approved compliance risk limits
- Identify and report material instances of actual or potential non compliance or 1st line control weaknesses
- Ensuring that reports of potential or actual compliance issues are investigated and acted on as appropriate
- Co-ordinate with first line and 2nd line compliance teams/staff to provide appropriate monitoring and supervision including providing guidance in developing, building or modifying internal controls and policies.
- Ensure CCO Canada and other 2nd line Compliance team members as appropriate are advised and aware of all potential or actual material risks of non compliance.
- Provide report and opinion to SBCO, Digital on the overall state of Compliance within the business on a quarterly basis.
- Development of an effective compliance culture across the business
- Advocating an effective compliance culture with senior leadership in the Digital Division
- Participate in leadership and other divison meetings to represent the Compliance view and to ensure Compliance issues/concerns are identified and addressed
- Promote the role of Compliance within the business by providing opportunities for staff in the business to benefit from training, seminars etc. on compliance related issues
- Work collaboratively with the business on compliance issues as they arise and on implementation projects
- Participating in industry committees and other organizations which enable influence on compliance matters and enhanced awareness of relevant practices
- Assessing the effectiveness of the regulatory risk management framework in the Digital Division
- Monitoring the adequacy and effectiveness of business level controls
- Monitoring 1st line testing
- Performing 1st line testing and monitoring as appropriate
- Ensure adherence to Global compliance methodology and standards
- Communication to 2nd line compliance team
- Possessing a high degree of subject matter expertise concerning regulatory requirements that impact the Digital business lines.
- Providing meaningful and actionable advice and guidance to the Digital Division.
- Provide on going support to enhance regulatory risk management capability in the business
- Provide consultation and advice to the business concerning regulatory requirements in the context of both new and existing regulatory requirement which impact existing processes; and for new initiatives in the business, with the goal of achieving business objectives while mitigating regulatory compliance risk
- Drafting/consultation on key policies to ensure appropriate compliance considerations are incorporated and compliance parameters are adequate and appropriate.
- Working collaboratively with other compliance staff on the development and implementation of compliance initiatives of a cross-divisional nature
- Accountable for the support and development of a team of high performing compliance professionals
- Managing staff performance, goal setting, work load assignments for a small team of direct reports
Qualifications & Competencies:
- L.L.B,, C.A, or other relevant professional designation.
- 5-7+ years in compliance or related management level roles in insurance/financial services industry
- Minimum 3-5 years in management level roles in the insurance industry with either express or inherent compliance related accountabilities
- ability to work effectively with senior leadership and others in the business lines to identify appropriate strategies for achieving business objectives while maintaining adherence to defined regulatory risk thresholds
- ability to read, interpret and provide effective guidance related to sometimes complex regulatory requirements
- ability to exercise good business judgement to achieve desired outcomes when faced with novel or highly complex situations and decision makers with competing goals
- ability to effectively influence business decisions/outcomes in the absence of direct authority or clearly established precedent.
- Monitoring new and emerging regulatory trends and applying that knowledge proactively to advise the business on initiatives and business processes.
Discover your opportunity….Apply today!
Great-West Life offers competitive compensation, great benefits such as medical, dental, life insurance, wellness account and personal days not to mention onsite cafeteria and fitness facilities. If you’d like to join our team submit your information online and introduce yourself.
Together Great-West Life, London Life and Canada Life serve the financial security needs of more than 13 million people across Canada, with additional operations in Europe and the United States. As members of the Power Financial Corporation group of companies, we’re one of Canada’s leading insurers with interests in life insurance, health insurance, investment and retirement savings. We offer a broad portfolio of financial and benefit plan solutions for individuals, families, businesses and organizations.
We are committed to providing an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of the communities in which we live, and to creating an environment where every employee has the opportunity to reach their potential.
Great-West Lifeco would like to thank all applicants, however only those who qualify for an interview will be contacted.