Overview

Accountabilities:

Monitoring:

  • Conduct daily and periodic Head Office reviews as mandated by regulators and per SSI policies to selectively monitor compliance with KYC suitability and other rules respecting sales practices by reviewing applications and order forms for suitability and completeness, and reviewing other supporting documentation, identification and reviewing trades processed for conformity with customer investment objectives.
  • Monitor client mutual fund trade activities utilizing exception reports, with a focus on unusual/irregular activity and on additional reviews that cannot be carried out at the branch level, such as excessive activity and other reports as required
  • Conduct the quarterly review of customer statements/account activity as mandated by the MFDA.
  • Follow-up on exceptions and ensure deficiencies are communicated effectively to branches.
  • Complete Head Office supervision and review reports in a timely manner as required for account supervision, daily review and client statement reviews.

Reporting:

  • Submit monthly or other reports based on monitoring as directed by the Senior Manager of Compliance or the Chief Compliance Officer.
  • Report any suspect activity if there is any suspicion per AML policy of money laundering.

Work Experience:

  • The incumbent must be qualified to be a Registered individual and is expected to have completed the Branch Compliance Officer’s Course.
  • The incumbent must have a good knowledge of securities regulations applicable to the sale and distribution of mutual funds, including National Instruments for Mutual Fund Rules and Sales Practices, MFDA Policies and Regulations, IFIC Codes of Conduct and Practices and other regulations as may be implemented from time to time.
  • Knowledge of SSI and Bank policies, procedures and manuals for the sale and distribution of mutual funds through the Bank’s branches and alternate channels would be an asset.
  • The post requires the ability to evaluate risk, to identify control weaknesses, to recommend actions, to follow-up and to report on non-compliance effectively.
  • Initiative and the ability to work efficiently and effectively in a fast-paced, team environment are essential.  Effective communication skills both oral and written are required.
  • The incumbent is expected to have an Undergraduate University Degree (preferably in business or accounting) &/or related work experience (PIM, Compliance Officer).

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