Vice President& Compliance (CAMLO & Privacy Officer)

Why DUCA?

We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.

We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™.

DUCA (www.duca.com) is distinguished for the following:

• Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
• Competitive rates.
• Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
• Profit sharing among Members.
• Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7
• A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with DUCA means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.

Vice President, Compliance (CAMLO & Privacy Officer)

DUCA is looking for a Vice President, Compliance (CAMLO & Privacy Officer) to join our growing team!

Job Purpose & Summary

The VP Compliance (CAMLO & Privacy Officer) leads DUCA and its applicable subsidiaries’ compliance team and activities including anti-money laundering and anti-terrorist financing (AML/ATF), privacy, and complaints, and provides a second line of defense oversight for organization-wide legislative and regulatory compliance. This position establishes and oversees a compliance oversight framework which enables the identification, assessment, monitoring, testing and reporting of adherence to applicable regulatory and legislative requirements across all departments. As the Chief Anti-Money Laundering Officer (CAMLO) and Privacy Officer for the organization and applicable subsidiaries, this role ensures compliance with regulatory agencies including but not limited to FINTRAC and FSRA. This role supports the CEO (as appropriate), Chief Risk Officer, and other functions in compliance related interactions with regulators, auditors, Members, and other stakeholders.

The VP Compliance (CAMLO & Privacy Officer) works with the Executive Leadership Team (ELT), business units, and other departments to ensure the Credit Union and applicable subsidiaries have an adequate system of internal controls that operate efficiently and promote compliance with all applicable laws and regulations across the entire enterprise. This role drafts regular compliance reports for the Chief Risk Officer, and/or senior management, and the Board (or its delegate) and advises of emerging compliance issues while assessing the adequacy of controls and processes established by the business to mitigate risk.

Key Accountabilities & Duties

• Lead by example: consistently demonstrate DUCA’s values of “Bringing out the best in others”, “Doing what’s right even when it’s difficult”, and “Making what’s possible happen”
• Inspire, lead, coach and develop a team of top talent creating a culture that fosters engagement, passion, and enthusiasm for the organization’s vision, mission, and values
• Establish and oversee the organization and subsidiaries compliance framework, including the development and maintenance of policies, standards and methodologies that support independent compliance oversight, monitoring, testing, and reporting across the organization
• Maintain enterprise-level visibility of applicable regulatory and legislative requirements and confirm that appropriate first line ownership, impact assessments, and action plans are in place ensuring alignment with applicable laws, regulations, and internal risk appetite
• Oversee key compliance functions including anti-money laundering / anti-terrorist financing regulatory compliance and investigations, client and employee privacy compliance and investigations, training, and a wide range of regulatory and legislative compliance
• Act as the primary point of contact with regulatory agencies, external auditors, and other key stakeholders for compliance issues; evaluate effectiveness of quality assurance and controls and provide recommendations for enhancement
• Proactively evaluate business processes and procedures to identify compliance risks through development of risk assessments and oversight of consistent policies, procedures and internal controls aligned with risk appetite
• Investigate and respond to compliance risk issues; assess and recommend actions and monitor remediation progress to relevant business groups
• Oversee and develop the compliance team; design and organize the function to enable organization to meet its compliance and regulatory requirements in an efficient and effective fashion; set and execute strategic, tactical, and operational objectives; enhance quality assurance
• Develop and implement appropriate testing methodologies designed to ensure compliance with all applicable laws and regulations. Evaluate new laws and regulations that may impact the Credit Union and its subsidiaries.
• Provide compliance oversight and input into organization wide projects and initiatives reviewing business interpretations and approaches to application of compliance requirements, relative to such areas as: new products, new vendors, new channels of delivery, process development, development of controls and monitoring, changes in law or regulations.
• Act as the primary lead on Internal Audit exams, external audit reviews, including bi-annual reviews, and FINTRAC regulatory examinations. Coordinate and work closely with regulatory agencies during all examinations, providing a point of contact for information and explanation of AML/ATF compliance, policy, and procedures throughout the Credit Union and its subsidiaries. Maintain strong, professional relationships with regulatory agencies, in particular FINTRAC. Evaluate existing key controls and the control environment to enable effective compliance; identify and implement improvements.
• Respond to alleged violations of laws, rules, regulations, policies, and procedures with remediation action plans for the three lines of defense and oversee the ongoing monitoring and reporting of action plan progress. Monitor non-compliance and escalate any issues where non-compliance is not addressed.
• Prepare responses to the findings identified in the reviews and examinations and monitor and challenge remedial action activities with relevant business leads to resolve gaps identified in audits and regulatory examinations, in keeping with three lines of defense.
• As requested, attend senior leadership team meetings to report on compliance related topics.
• Interact with and support DUCA Member-facing employees to enhance awareness and understanding of compliance requirements and best practices
• Oversee privacy related regulatory, investigation, and reporting activities
• Oversee Common Reporting Standards reporting and tax-related regulatory and investigation matters
• Oversee Member complaints and regulatory enquiry responses and follow-up
• Maintain high standards of ethics and integrity; adhere to DUCA’s Code of Conduct and any associated legal, compliance, or information security requirements.

Occupational Experience & Education Requirements

• University degree in Business, Finance, Law, or other related field
• 10+ years’ experience leading a complex compliance function in financial services
• 5+ years’ experience at a senior management level accountable for growing and developing teams in a compliance or legal environment
• CAMS and CIPP/c designations considered an asset
• Knowledge of the Credit Union and Caisses Populaires Act and applicable legislation and regulations; prior interactions with FINTRAC an asset
• Strong knowledge of applicable federal, provincial, and self-regulatory / best practice legislation and regulations relative to anti-money laundering, anti-terrorist financing, privacy, and Common Reporting Standards reporting matters

Knowledge, Skills & Attributes

• Proven strategy development and implementation skills
• Ability to build effective rapport and credibility with constituents
• A respected authority able to represent DUCA in front of regulators, legislators, and other key constituents and partner effectively with third parties, regulatory bodies, and others, as appropriate
• Highly developed communication and presentation skills
• Ability to distil complex information set into key points for select audiences
• Critical thinking, problem-solving, and decision-making skills, with the ability to analyze complex information to identify the key issue/action and drive resolution.
• Member focus with ability to communicate appropriately with clients on compliance and legal matters
• Strong leadership, coaching, and employee development skills
• Ability to identify gaps, recommend solutions, and implement changes across the organization in a culture positive manner
• High level of integrity, ethics and professionalism; proven ability to maintain sensitive and highly confidential information

Working Conditions

• Normal office environment

Department: Risk Management

Primary Location: Corporate Office

Employment Status: Full-time

Hours per Week: 38

Number of Existing Vacancies: 1

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Our hiring process includes AI screening for keywords and minimum qualifications. Talent Acquisition Partners review all results.

Qualified applicants are encouraged to submit their application. Applications must include a resume.

We thank all applicants but only those considered for an interview will be contacted.