Location Address: Toronto, WFH
Contract Duration: 5/3 – 10/29/21 – possibility of extension
Story Behind the Need
Business group: Operational and non-financial risks such as fraud, regulatory risk, change management risk and conduct risk can result in significant direct losses, regulatory fines and reputational damage. The Bank’s risk management framework is predicated on the three-lines-of-defense model, which requires the First Line of Defense to incur and own operational and non-financial risks generated by their business activities.
Project: Client is undertaking a project and is looking to enhance internal controls through this project that will include technology and process enhancements.
Candidate Value Proposition: High visibility project – initiate is a commitment that the division has made to the board. New function that is being built from the ground up. Dealing with First Line and large Capital Markets organizations. Selected candidate will obtain Front Line control experience.
Typical Day in Role:
– Assist in the initial documentation and mapping of key regulatory and non-regulatory controls
– Assist in the maintenance and updates of key controls inventory
– Assist in the development, planning and execution of first line testing program for the periodic testing of key controls to assess their design and operating effectiveness in managing operational risks
– Assist with providing regular reporting to Management of the condition of internal controls in the respective business lines including analyses of root causes of control breakdowns and determines appropriate corrective actions;
– Assist in identifying and addressing underlying causes of control breakdowns or instances where controls are inadequate
– Assist with the maintenance of Issues Tracking Database for the first line testing and provide summary updates to Management
– Assist with the follow-up of open issues identified from the first line testing and ensure recommended corrective actions have been remediated;
– Maintain regular communication with Compliance to determine changes to regulatory rules and understand their impact on various business units, and applicable controls
Candidate Requirements/Must Have Skills:
1) 5 + years – Knowledge of Capital Markets and/or Operation Risk Management role is a Financial Firm Consulting Firm
2) 5+ years – Experience working on Operational Procedures and documentation related to Capital Markets Business Side.
3) In-depth understanding of financial markets, capital markets products and control functions
4) Communication Skills – verbal and written
1) General Testing Experience – similar to what an audit function environment would do (not technical)
2) Good knowledge of Internal Controls
3) Experience with a Regulatory Compliance Management Program
Soft Skills Required:
1) Self-motivated and experience in working on complex projects
2) Dynamic, fast paced office-based environment.
Degrees: Bachelor's degree in business, finance or a related field