Posted:January 10th 2024
Job Overview/Purpose:
The Compliance Director is responsible for developing, implementing, and administering all aspects of the Compliance program supporting the Bank’s business operations in Canada, which includes Wholesale banking, Agricultural Banking Canada, Farmer financing program (AgVendor), Bank Canada Securities Inc. (RSCI) and all ancillary operations and support related thereto.
The Compliance Director functionally reports to the General Manager, Rabobank Canada Branch and the Chief Compliance Officer, of North America. The Compliance Director participates in and supports the Bank Canada Management Team and other relevant Committees and forums. The Compliance Director is supported by a Compliance Advisory Officer, who reports into the role.
The Compliance Director manages the Compliance Programs and its associated risks identified by driving awareness, accountability and effectively challenge, providing expertise and support regarding Compliance policies and procedures applicable to its business activities.
The Compliance Director has been delegated authority to represent Compliance with regard to Wholesale Banking, Agricultural Banking, AgVendor and RSCI by the Chief Compliance Officer, N.A. The Compliance Director works closely with Compliance colleagues based in the US and Head Office to achieve and maintain compliance with regulation and the Bank Group Compliance requirements.
Key Responsibilities and Accountabilities:
• Management of Risk and Control Framework
• Represent, advocate, and effect the Bank Compliance Charter in the capacity of Compliance Director.
• Advocate and oversee an effective compliance function for Wholesale banking, AgVendor, Agricultural Banking and RSCI and contribute to the compliance maturity growth of the bank in Canada.
• Ensure the effective delivery of the Compliance Target Operating Model (TOM) for Wholesale Banking, Agricultural Banking, AgVendor and RSCI business lines which include:
▪ Identification of legal and regulatory obligations applicable to the Compliance Themes supporting the Bank, the Banks products and services, and Rabobank’s stakeholders,
▪ Risk identification and risk assessment,
▪ Prioritizing and planning,
▪ Policies, procedures, and standards implementation and management,
▪ Communication, training, and awareness,
▪ Advisory,
▪ Monitoring and supervision,
▪ Analyze and research (including incident management),
▪ Reporting (Management Information, Regulatory, etc.) and follow-up. ▪ Implementation and maintenance of the Branch’s compliance operational controls
▪ Participation (voting and non-voting) in various management and risk committees
▪ Participation, support and advisory in Misc. projects as assigned
▪ Assist with reviews, exams and internal audits (incl. closure of findings)
▪ Be a strong sparring partner for (senior) management/business, with thorough knowledge of both the business (products, processes, systems) and the relevant laws and regulations.
▪ Contribute to Regional and Group Compliance by being proactive in raising potential issues, being responsive to regional and global requests, and pointing out potential extraterritorial application of local laws and regulations.
▪ Drive communication with local regulators to seek input and to build a strong and transparent relationship (e.g. OSFI, CIRO)
Job Requirements:
• Bachelor’s degree, minimum of 7+ years of financial industry compliance experience with several years’ experience operating in a [matrixed] environment, with increasing responsibility (CAMS designation considered an asset).
• Experience in developing and implementing business or entity wide compliance programs, policies, and procedures.
• Strong interpersonal, verbal, and written communication skills at all levels.
• Substantial prior experience in a similar role within a foreign bank compliance organization or domestic financial institution
• Ability to handle sensitive situations in a confidential and professional manner.
• Ability to interact with all levels of management.
• Substantial expertise in building and managing bank and broker dealer compliance risk management programs.
• Substantial expertise in Canadian banking laws, rules and regulations
• Exceptional interpersonal skills, including the ability to work effectively with all levels of management as well as bank regulators and other stakeholders across different lines of business, geographies, and backgrounds.
• Microsoft Office Suite (Word, PowerPoint, Excel).
• Knowledge of systems, technology, and data management.
Risk
• Complete all mandatory training.
• Comply with code of conduct and Bank policies/ procedures.
• Actively identify incidents outside of established policies and procedures and report to management immediately.
• Must be familiar with and comply with laws, regulations and internal policies and procedures that are applicable to required job duties.
• Understands and complies with all Rabobank anti-money laundering, compliance, and all other applicable laws.
Candidate Profile:
• Bachelor’s degree or an equivalent number of years with bank-related work experience Professional certifications including (e.g., Certified Anti-Money Laundering Specialist (“CAMS”))
• 7+ years of experience in the Financial Services industry or in AML roles at consulting firms or banks.
• A strong understanding of the AML market, regulations, and regulatory landscape in Canada.
Culture and Values:
• Actively and consistently demonstrate the Banks’ Culture.