Analyst II, Compliance

The Opportunity

This position will play an important role in assisting with the planning and completion of regulatory compliance reviews and the delivery of high quality, professional, and independent compliance testing. The incumbent will contribute to a strong compliance and risk management culture through collaboration with other first, second and third-line functions to ensure Compliance risks are identified, mitigated, monitored and reported on an ongoing basis.

The incumbent will work closely with key stakeholders throughout the businesses to conduct process and control evaluations as well as identify remediation actions and process improvement opportunities.

The Compliance Department at First National performs a second-line of defense function by overseeing the enterprise-wide compliance program, including managing the regulatory compliance framework, providing regulatory guidance and collaborating with business stakeholders to ensure our business strategies, plans and initiatives are executed and delivered in compliance with governing regulations, internal policies and procedures. This Department is responsible for independently assessing the adequacy, adherence to, and effectiveness of First National's day-to-day Regulatory Compliance Management (RCM) controls, and for providing an opinion to the Executive Management and to the Board on overall compliance with the applicable regulatory requirements enterprise-wide.

• Supporting the implementation of the enterprise-wide compliance regime.
• Conducting risk-based monitoring reviews as part of the Compliance Monitoring Program to assess compliance with regulatory requirements and internal policies.
• Assisting the Compliance Department in implementing compliance processes, policies and procedures.
• Assisting with the update and/or development of policies and procedures for new and/or changed business processes and/or regulations.
• Maintaining an understanding of the business units’ strategies and objectives, products and services, and business processes as well as the underlying infrastructure to identify and manage compliance risk exposures for the business units.
• Supporting the compliance independent testing and monitoring program.
• Documenting test cases and results using tracking tools and approved sampling methodologies.
• Conducting process and control assessments by documenting process maps, assessing risk and control designs.
• Evaluating the design and operation of internal controls on assigned projects within the Compliance Audit universe.
• Working with the Compliance team and the business units to develop appropriate remediation actions to address any identified issues.
• Managing and reporting on the status of control deficiency remediation plans on an ongoing basis.
• Ensuring that the AVP, Compliance is advised of all material information derived from the monitoring and testing program, which will enable the Compliance Manager and Executive Management to provide an opinion on the adequacy of the RCM framework and state of compliance.
• Participating in Vendor Risk Management process.
• Keeping abreast of key compliance and regulatory changes and policy/procedures updates through ongoing completion of education programs and attending internal and external seminars and training sessions.
• Managing or supporting compliance projects and other business initiatives as required.
• Adhere to policies /procedures to ensure AML requirements are met, when applicable.

• Undergraduate degree, equivalent post-secondary education or an acceptable combination of relevant experience, education and/or training.
• 3+ years of relevant experience in conducting compliance reviews/audits, evaluating controls within financial services industry.
• Sound knowledge of compliance testing methodologies and processes.
• Demonstrate ability to understand Canadian laws, regulations, internal controls, policies and procedures.

• Good understanding and knowledge of:
  • Residential, commercial and/or construction lending;
  • Regulatory environment and expectations within the Canadian financial services…