Manager, Compliance
Foresters Financial
3d ago

Purpose of role

The Manager, Compliance provides leadership and collaborates with the Compliance and Legal team and other control functions to support the oversight, management and continuous enhancement of the Compliance Management Program, Market Conduct program, and the management of regulatory and operational risks.

This will be in line with best practices in insurance scaled appropriately for the size and complexity of Foresters structure.

This is an individual contributor role; there are no direct reports to the manager.

Key Responsibilities

  • Provide support in developing, executing, analyzing and reporting of risk based Field Market Conduct Program in North America.
  • Monitor, report, escalate and follow up of Field compliance issues with senior business leaders. Identify producer behavior and trends that compromises profitability.
  • Identify, review, interpret, analyze and communicate legislative, regulatory and other compliance requirements to appropriate business leads.
  • Manage, support and monitor regulatory and operational risks.
  • Responsible for updating, monitoring and assessing business areas adherence to compliance policies and procedures. Ensure information is centrally located and accessible to business leads.
  • Manage and support the effective and efficient oversight of the Compliance Management program.
  • Support the oversight and management of key components of the compliance program, including monitoring and testing, reporting, training, awareness, KRIs, KPIs and program evaluation.
  • Collaborate and consult with business stakeholders and other 2nd and 3rd line functions, to enhance and support the overall effectiveness of the compliance and market conduct program and framework and the creation of ad hoc, quarterly and annual reports to Senior Management and the Audit & Compliance Committee.
  • Contribute to the development and enhancement of an effective and efficient 2nd Line monitoring and testing program to provide reasonable assurance of adherence to regulatory requirements, internal policies and procedures and the effectiveness of regulatory risk and compliance controls, ideally leveraging automation and technology.
  • Provide expert advice, guidance and effective challenge to stakeholders across the organization on the management of compliance risks and support complex projects and initiatives in collaboration with business and technology partners.
  • Key Qualifications

  • University degree in business administration, law, finance or a related discipline. Professional certifications, such as CPA, CIPP, CAMS, are an asset.
  • 7-10 years experience in a compliance, audit, risk or governance role, preferably in a financial services organization working in North America.
  • Relevant experience and knowledge of the Canadian life insurance industry and associated laws, regulations, guidelines, industry standards, trends and best practices, including governing legislation and related regulations (OSFI Guidelines, Insurance Companies Act, provincial Insurance Acts, PCMLTFA and regulations, and Privacy legislation etc.
  • Similar US knowledge or experience is an asset.

  • Ability to interact, persuade and influence a broad spectrum of constituents at all levels, including senior management and the board.
  • Experience and knowledge of compliance monitoring and testing methodologies for adherence to applicable regulatory requirements and internal policies.
  • Strong research and analytical skills to monitor and analyze regulatory requirements and relate them to business processes, regulatory risks and compliance controls and to support a broad range of projects.
  • Ability to self-start and work independently while demonstrating sound judgment, practical and creative problem analysis and resolution skills.
  • Ability to handle multiple initiatives and prioritize work to meet deadlines and fulfill the demands of a rapidly changing environment.
  • Ability to develop, draft, maintain and manage policies, standards, guidelines and procedures.
  • This position is located at our Foresters Financial office at 789 Don Mills Road

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