Location Address: Toronto once Covid Restrictions
Contract Duration: 10 months (Possibility for extension or Convert to FTE)
Story Behind the Need:
Project: Seeking a Senior Audit Manager to focus on building and sustaining Internal Audit’s coverage of Consumer Protection Laws including more broadly Market Conduct Obligations and provide independent assurance and monitoring of the Bank’s implementation of Canada’s Financial Consumer Protection Framework (CFCPF) Bill C-86, and opine on the design and operating effectiveness of internal controls to address regulatory expectations.
Candidate Value Proposition:
– Opportunity to have visibility and participation in a large, significant regulatory change for the Canadian banking industry – one of the largest regulatory changes Canadian banking has seen
– This area has a lot of regulatory scrutiny and is an emerging risk area for all financial institutions
Typical Day in Role:
– Execute audits of the Canadian Financial Consumer Protection Framework (Bill C-86) program implementation (effective June 2022) impacting people, processes, data and technology across the Canadian Bank including the oversight of the 2nd line Compliance function.
– Participates in the audit coverage build for regulatory obligations associated to Consumer Protection and assists to develop consistent approach/ minimum standards for regulatory compliance audits to be executed by business and function audit teams to enable Audit to assess the state of Regulatory Compliance risk on an ongoing basis
– Identifies and communicates key areas of risk, weaknesses in program implementation and issues to applicable stakeholders (including executive levels of management).
– Maintains a thorough understanding of compliance risks and processes as it relates to the oversight and monitoring of Consumer Protection. This includes keeping abreast of key industry developments, regulatory changes, and identifies key systemic issues (arising from audits globally) and internal changes that will impact the annual audit plan and/or quarterly Audit Committee reporting
– Liaises with /Business Audit teams to ensure consistency in audit coverage and execution.
– Maintains relationships with Canadian Banking leading the Program Implementation, Global Compliance and audit teams (Country/Business audit teams)
– Candidate would be on compliance audit team working closely with other audit teams on a specific project focused on monitoring and auditing the progressive over the progress of bill C-86
Candidate Requirements/Must Have Skills:
1) 7-10 years of experience in Audit, including Controls – emphasis on execution of test cases and identifying risks
2) 5+ years of experience in retail business lines
3) 5+ years of experience and understanding of conduct risk and complaints management
Nice to Have:
1) 7+ years of Consumer Protection experience – exposure to consumer protection legislation
4) Experience within Canadian Banking is preferred
– Daily communication with external candidates
– Self-starter that actively engages issues seeking resolution, ability to meet dynamic changes on prioritization
– Ability to manage assigned tasks and expectations without direct instruction or oversight
– Fast, adaptable learner who can hit the ground running
– Ability to work well under pressure while demonstrating strong professionalism
-Strong investigation, prioritization, and organization skills
– Candidate must have an open mind when it comes to approach, and be able to assess each situation separately
– Must be able to collaborate closely with a team at times, while also being capable of holding themselves accountable to meet individual deadlines without hand holding
Degrees or certifications:
– Bachelor's degree in a technical field such as computer science, computer engineering or related field required