Job Description
WHO WE ARE
HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, witha range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.
Our Values, Our Passion
At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.
Courage to Act. Do the Right Thing
One Team. One Vision
Think Long-Term. Ever-Evolving
POSITION SUMMARY
The Senior Analyst, Compliance plays a critical role in ensuring that the Bank adheres to regulatory requirements, internal policies, and industry standards. You will be supporting the Senior Manager, Compliance in the oversight of day-to-day compliance activities, with a specialized focus on Consumer Protection matters and the FCAC.
MAJOR ELEMENTS OF THE ROLE
Key accountabilities of this position include:
- Supporting the management of the day-to-day operations of the Bank’s Compliance Department toensure the effective execution, assessment, maintenance, and monitoring of the Bank’s Regulatory Compliance Management (“RCM”) Program
- Assisting with the oversight of and adherence to FCAC Consumer Protection related regulations, including Sales Practices and Complaint Handling
- Assisting with the reporting and management of Regulatory Compliance Issues (RCI) reported to the FCAC
- Preparing and submitting FCAC regulatory reports and reports for other relevant authorities as required
- Coordinating the production of Board Level Compliance reports
- Executing Monitoring and Testing (M&T) activities
- Identifying compliance risks associated with the organisation's activities, products, and services
- Production of compliance testing reports, which includes detailing findings and providing recommendations
- Collaborating with internal stakeholders to address compliance issues and implementing corrective actions
- Overseeing the status and remediation of corrective actions in response to internal issues, incidents, or regulatory compliance issues
- Working closely with business units to ensure that compliance risk and other pertinent information is reported, communicated, and escalated accordingly
- Maintaining a working knowledge of applicable regulatory requirements and staying abreast of changes in laws, regulations, and industry standards relevant to the organisation's operations
- Reviewing the creation of new, or changes to existing Banking materials and literature to ensure their adherence with applicable regulations, internal contract rules and clear language expectations
- Preparation of ad hoc reports and assignment of additional duties as and when required
SKILLS AND EXPERIENCE REQUIRED
Qualifications
- A college diploma or university degree is preferred. Additional industry related accreditations are desirable
- 2+ years of relevant work experience within a regulated financial institution
- Experience working in an oversight or compliance function with knowledge of compliance programs
Attributes
- The ability to interpret complex, often ambiguous regulations
- The ability to understand and interpret mortgage contracts (Loan agreement, Disclosure Statement, Standard Charge terms etc.)
- Knowledge of the FCACs Financial Consumer Protection Framework and associated guidelines
- Effective communicator; Exceptional written and oral communication skills
- Strong judgment and ability to effectively process information and draw meaningful/persuasive conclusions
- Excellent analytical skills with the ability to assess complex compliance issues and develop practical solutions
- Self-motivated and a self-starter; Able to work independently and as part of a team having a “hands on” approach as well as appreciate diversity of thought and opinions
- Demonstrated ability to manage multiple complex engagements simultaneously
- Ability to adapt to rapidly changing business needs and priorities
- Hybrid office environment, 3 days per week in office
WHY WORK AT HOMEEQUITY BANK?
HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
A Dynamic Culture – With People at the Centre
We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.
Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.
Celebrating Great Work and People
We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.
From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.
Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.
The Perks
HomeEquity Bank offers a competitive total rewards package that includes:
- Extended health and dental benefits
- Employee & Family Assistance Program
- Employer-Matched Group Retirement Savings Plan
- Employee Share Investment Plan
- Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
- Employee corporate discount for GoodLife Fitness
Stay in the Know
Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:
- 200 Bay St., Toronto, ON M5J 2J1, Canada
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