The Officer is the primary relationship manager and expert for designated areas of responsibility within Canadian Banking including Royal Mutual Funds Inc. RBC Direct Investing Inc. and RBC InvestEase Inc. with respect to all aspects of regulatory compliance related to Consumer Protection & MFDA, Privacy and other RBC Enterprise-level Compliance Policies.
The role leads and provides strategic insight, direction and support to Canadian Banking businesses to ensure ongoing compliance with applicable Consumer Protection regulations, MFDA regulations, voluntary codes of conduct, and public commitments. The officer co-ordinates and leads the collective approach to Privacy Risk management and Social Media Compliance while ensuring implementation of appropriate regulatory control activities.
What will you do?
- Communicates regulatory changes with the Canadian Banking business; shares accountability with the business to ensure all required business processes and controls are in place by the “coming into force” date of regulatory requirements
- Provides oversight and advice to the relevant Canadian Banking business on the best approach to address a regulatory change as it relates to existing and new products and services, business processes, compliance programs and processes and delivery channels
- Works with the relevant Canadian Banking business to ensure regulatory and policy matters are well understood and actively managed by assisting through answering questions, researching issues and providing recommendations, identifying and escalating execution gaps and operationalizing compliance policy requirements in a complete and timely manner
- Accountable for complete, accurate and timely updates of the Regulatory Compliance Management (RCM) program documenting regulatory requirements, corresponding control activities and associated monitoring and testing routines applicable to the relevant Canadian Banking business.
- Monitors and oversees regulatory compliance control effectiveness testing routines, as provided by the relevant Canadian Banking business and/or through Audit reports and implementation by the relevant Canadian Banking business of RBC Enterprise Policies
- Accountable for timely escalation and resolution of regulatory compliance related issues to senior management and the Board in support of their management and oversight responsibilities
- Monitors outstanding issues to ensure satisfactory resolution and provides assistance / direction to the Canadian Banking business as required
- Leads input and regular updates on assessment of regulatory compliance for the Quarterly Compliance scorecard of relevant Canadian Banking and Boards reports
What do you need to succeed?
- University Degree
- 10+ years of industry experience
- Understanding of regulatory compliance and risk management principles as they apply to a banking environment
- Conceptual thinking required
- Existing or demonstrated ability to quickly build digital expertise and knowledge
- Strong communication skills
- Ability to work collaboratively
- Ability to build influence and impact
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
- A comprehensive Total Rewards Program including bonuses and flexible benefits and competitive compensation
- Leaders who support your development through coaching and managing opportunities
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work