Compliance specialist Jobs in Toronto, ON

About Futurpreneur Canada

Futurpreneur is a national non-profit organization that empowers young, diverse entrepreneurs, ages 18-39 to start, buy or grow their businesses in Canada, by providing loans with mentorship and resources.

Founded in 1996, we have helped more than 20,000 young entrepreneurs, promoting entrepreneurship among Canadian youth as a critical pillar for diversifying the economy, generating employment opportunities, and fostering a sustainable future.

Futurpreneur is a founding member of the G20 Young Entrepreneurs’ Alliance, the Canadian member of Youth Business International and the Canadian host of Global Entrepreneurship Week (GEW).

Our Purpose (why we exist): To drive inclusive Canadian prosperity by fostering the success of young entrepreneurs

Our Mission (what we do every day to achieve our purpose):To empower diverse entrepreneurs ages 18-39 by providing loans with mentorship and resources to help them start and buy businesses that contribute to sustainable and inclusive economic prosperity, in their communities and across Canada.

Our Values (how we work – our core principles & commitments): We are mission-driven, collegial & collaborative, diverse & inclusive, and accountable & transparent.
As a Compliance Specialist, you will ensure the accurate, timely preparation and completion of files for disbursement, ensuring all conditions are met as required and that the file is compliance complete when provided to the Loans team. You will contribute to the continuous compliance with Risk and Compliance Policy and must satisfy the requirements of the Futurpreneur annual external audit and audits from other funders, including the requirements of audits by the Business Development Bank of Canada (BDC).

Reporting to the Manager, National Credit Compliance, you will also act to safeguard the interests of Futurpreneur and BDC to ensure we support only eligible entrepreneurs and applications, and to satisfy all applicable aspects of the Risk Policy relative to disbursements, documentation, and satisfy all compliance elements of the BDC Co-lending Agreement.

This existing permanent part-time position (22.5 hours per week) is based in Toronto, ON. The incumbent will work on a hybrid work model, requiring a minimum of 1 day in-office per week.

What you will do:

Compliance Processes, Transactional

• Review all conditions set by National Credit Adjudication (“NCA”) for approved customers and enter into the CRM database for tracking
• Ensure any missing information or gaps in approved file information are outlined to key stakeholders for resolution
• Review responses and documents received from internal stakeholders relating to conditions; profile to NCA where indicated for NCA sign off on satisfaction of conditions, update CRM database to show documented progression regarding the satisfaction of conditions
• Communicate effectively with other stakeholders and advising in a timely manner - within Service Level Agreements (SLA) as established - of any compliance condition related issue
• Identify and document exceptions or substitutions for approval conditions, and follow required process
• Process files for disbursement in our CRM database once all outstanding loan conditions have been satisfied
• Meet Compliance SLAs as provided
• Ensure conditions are reviewed daily and notation of compliance review are entered on the same day in the CRM database
• Complete BDC checklists and forward to BDC when complete & correct, compliant with BDC requirements (i.e. checklist documents received and correct, ID verification completed, minimum investment satisfied)
• Ensure core documents are correct and compliant, i.e. banking information for disbursement, Loan Agreement and Promissory Note, Business and other ownership confirmation, ID documents, BDC financing application form, other condition documents
• Support other Compliance team members as required, regarding the daily processing of file conditions and file processing on disbursement days
• Contributing to cross functional team meetings as required
• Other data entry as required

Compliance to Policy

• Adhere to the Futurpreneur and BDC co-lending agreement checklist requirements
• Ensure all co-funded files comply with the Futurpreneur and BDC co-lending agreement KYC (Know your Customer) requirements pertaining to all checklist criteria, including ID verification methods and requirements
• Ensure parties to our application are compliant when compared to ownership documents as per Futurpreneur requirement and BDC co-lending Agreement.
• Adhere to Futurpreneur ID documents and verification process (only for Futurpreneur files)
• Ensure any Credit Risk Matrix exceptions are documented for sign off with one up approval (CEO) is on file
• Complete outstanding NCA conditions, with appropriate NCA approval on file
• Undertake Compliance approval of outstanding conditions without NCA approval where it pertains to a condition not requiring NCA interpretation- i.e. Business Registration, Completion of Ment2b
• Carry out the final verification of core eligibility such as age eligibility, Canadian Citizen or Permanent Resident, etc.
• Continuously seek efficiencies via innovation and process improvements; and improve SLA’s
• Assist with the resolution of Post disbursement conditions
• Ensure data in our CRM Database is up to date regarding Compliance activities
• Ensure credit scores (ERS, BNI) entered into the CRM database for Accelerator files

Requirements

• Relevant experience may include education with a focus on credit analysis/compliance, or equivalent hands-on career experience
• A minimum of 2 years of prior experience in a credit analysis/compliance role in a Financial Services environment
• Strong written and verbal communication skills
• A track record of meeting deliverables; self-motivated, dependable and accountable
• Strong attention to detail
• Working knowledge of Microsoft Office (Word, Excel, and Outlook) with strong computer literacy abilities with systems and programs (CRM software)
• Ability to multi-task and prioritize to meet deadlines, ensuring SLA’s are met
• Proven organization, time management skills
• Ability to work with different teams and stakeholders
• Bilingualism in both French & English (spoken & written) is an asset
• Demonstrated ability to work effectively under pressure in a dynamic environment
• Alignment with Futurpreneur’s values and commitment to the mission/purpose of the organization
• Be a role model for Futurpreneur’s organizational culture by creating a positive impact at every touchpoint with people

Benefits

HOW