Director, Risk and Compliance

The Director Risk and Compliance heads the Credit Unions risk oversight function and ensures that the Credit Unions business and strategic execution aligns with the Board approved risk appetite and risk management frameworks policies practices and procedures through its independent oversight as the second line of defense. This role leads the operations of the risk and compliance functions for the Credit Union by ensuring that risks are identified measured controlled monitored and reported relative to alignment with Enterprise Risk Management practices Board determined risk appetite and meeting all regulatory risk requirements and expectations. Oversees the development and implementation of managing risk policies.

Differentiating Accountabilities:

1. Leadership responsibilities
   • Provides leadership to the Risk & Compliance team.
   • Proactively coaches to support the personal growth and development of direct reports including coaching and performance management career planning and develop a highly engaged diverse and capable team to execute departmental plans/strategies and build strong relationships with others/members.
   • Works with the CEO the Audit and Risk Committee of the Board the Board of Directors and the Senior Leadership team (SLT) to establish policies standards and limits that align with PenFinancials Board-approved risk appetite and monitors and reports on existing and emerging risks and compliance within this risk appetite.

1. Compliance
   • Serves as Chief Anti-Money Laundering Officer (CAMLO) and point of contact for FINTRAC.
   • Develops and maintains Board-approved AML policies that meet changing regulatory requirements.
   • Co-ordinates fulfilment of data required in the course of periodic reviews by FSRA and FINTRAC.
   • Supports the preparation completion and reporting of action plans in response to regulatory audit results.

1. Enterprise risk management.
   • Owns the Enterprise Risk Management Framework which sets the direction for how the Credit Union will manage enterprise risk.
   • Manages major risks (Strategic Credit Financial Operational Governance and Compliance) through the following:
     1. Risk Identification and Assessment: Recognizes and understands existing risks risks that may arise from new or evolving business initiatives and emerging risks from the changing environment.
     2. Risk Measurement: Assesses the likelihood and potential impact of risks and ensures accurate and timely reporting of risks. This includes both quantitative and qualitative measures as well as stress testing.
     3. Risk Control: Controls risk through processes policies guidelines procedures control limits and delegated authorities which reflect PenFinancials risk appetite and risk tolerances.
     4. Risk Monitoring and Reporting: Monitors risk levels against the Credit Unions risk appetite and reports risk levels to the SLT Audit & Risk Committee and the Board.
   • Tracks risks beyond tolerance and uncovers emerging risks and industry trends.
   • Maintains and ensures compliance with the model risk management framework.  
   • Meets all regulatory risk requirements and expectations.
   • Ensures all action plans for risks beyond tolerance are executed in a timely fashion.
   • Oversees the risk review process and identifies key KRIs and risk controls.
   • Support the CEO and Audit Committee with all internal controls as it pertains to industry best practice risk management.
   • Serves as a member of the Enterprise Risk Management Committee (ERMCO).
   • Serves as a non-voting member of the Management Credit Committee but holds veto power over credit adjudications.
   • Works with risk owners across organization to update risk conditions and ERM model inputs.

1. Capital liquidity and regulatory planning.
   • Serves as a member of the Asset-Liability Committee (ALCO).
   • Maintains updates and operationalizes regulatory-mandated recovery planning process and related documents.

1. Internal Audit
   • Serves as secondary administrative liaison with internal audit provider after the CEO
   • Co-ordinates distribution of internal audit reports and collection of responses from management for inclusion in appropriate Board meeting packages.
   • Creates maintains and reports on a log of action items arising from significant findings identified in any internal external or regulatory audit.
   • Recommends opportunities for improvements in policies and procedures to the appropriate owner for consideration.

Perform other assigned responsibilities.

Qualifications :

• • University degree or equivalent experience in a business/finance environment
  • Chartered Professional Accountant (CPA Designation) or Financial Risk Manager (FRM) designation preferred
  • 10 years of business-related experience in financial services preferably banking
  • 7 years of accounting/finance experience in a leadership role
  • 7 years of risk management/compliance experience in a leadership role with a deep understanding of liquidity capital credit and operational risk
  • Experience in enterprise risk management risk appetite risk methodologies and capital models.
  • Experience interacting with regulators the Board CEO and Senior Management
  • Expert knowledge of and experience with best practices in operational risk management and governance frameworks methodologies and processes
  • Strong leader with motivational skills to influence change
  • Strong relationship management skills and the ability to effectively partner with vendors industry associations and other key stakeholders
  • Strong critical thinking analytical and problem-solving skills with the ability to break down complex situations into manageable parts in a systematic manner
  • Experience in regulatory requirements with the ability to stay current with rapidly evolving regulatory guidance and industry best practices

Salary will be determined based on skills experience education and other qualifications relevant to this position

Additional Information :

To learn more visit  we welcome all applications only those who are selected for an interview will be contacted.

Accessibility accommodations will be made for job candidates upon request.

Remote Work :

No

Employment Type :

Full-time