Senior Compliance Officer

Description

Major Responsibilities

Responsible for leading and executing specific components of the regulatory compliance program.

In particular:

Regulatory Compliance Program Leadership

• Take ownership of assigned regulatory programs including Privacy, Consumer Protection, FATCA/CRS, or other designated areas
• Lead the development and implementation of compliance policies, procedures and frameworks for assigned areas
• Serve as the subject matter expert for assigned regulatory areas, providing authoritative guidance to business units and leadership
• Monitor regulatory developments and proactively assess impact on Alterna's operations
• Lead regulatory change initiatives and working groups for assigned areas
• Provide regular updates and reports to the Manager, Regulatory Compliance on program status and emerging risks

Risk Assessment and Control Testing

• Design and execute comprehensive risk-based monitoring and control testing plans
• Conduct advanced risk assessments of business processes, products and services
• Lead complex compliance audits and testing initiatives across multiple business units
• Analyze testing results, identify trends and root causes, and develop actionable recommendations
• Evaluate the adequacy and effectiveness of compliance controls throughout the organization
• Oversee the breach management process for assigned areas and ensure appropriate escalation

Policy Development and Implementation

• Draft and revise compliance policies, procedures and frameworks for assigned regulatory areas
• Collaborate with Legal Counsel, Internal Audit and business partners to ensure policy effectiveness
• Lead the implementation of new regulatory requirements across business processes
• Ensure policies remain current with regulatory changes and industry best practices
• Support the approval process for policies requiring senior officer or board approval

Training and Advisory Support

• Develop training content and materials for assigned regulatory areas
• Deliver compliance training to staff, management and business partners
• Provide expert guidance and consultation to business units on compliance matters
• Act as a key resource for team leaders, branch managers and department leaders on complex compliance questions
• Mentor and provide technical guidance to Compliance Officers

Reporting and Documentation

• Prepare comprehensive reports on compliance program effectiveness for management and board committees
• Maintain detailed documentation of all compliance activities, testing results and remediation efforts
• Ensure accurate and timely completion of regulatory filings for assigned areas
• Develop executive-level presentations on compliance status and key issues
• Maintain organized electronic record keeping systems and control logs

Qualifications

• University degree in Business, Law, Economics or related discipline – or equivalent work experience
• 7 years of banking / financial services (or related) experience
• 5 years experience in a similar role
• Experience leading compliance projects or initiatives
• Knowledge or completion of risk management related courses/certifications (e.g., CAMS, CIPP/C, or related) is considered an asset
• Audit or business analysis certifications considered an asset

Knowledge / Skills

• Strong working knowledge and understanding of regulations affecting credit unions and banks
• Solid knowledge of Regulatory Compliance Management framework components and linkages
• Specialized knowledge in at least one key regulatory area (Privacy, Consumer Protection, FATCA/CRS, etc.)
• Understanding of risk assessment methodologies and control frameworks
• Strong knowledge of banking processes, products and controls
• Advanced proficiency with Excel for report development and data analysis
• Proficiency with Outlook, Word, PowerPoint and compliance management systems

About Alterna Savings

Alterna Savings and Credit Union Limited (Alterna) has delivered The Good in Banking ® for over 115 years creating financial services that transform lives for the better, all while giving back to our community. Alterna is made up of Alterna Savings and Credit Union Limited and its wholly owned subsidiary,a Bank.

Alterna is the first full-service, member-owned cooperative financial institution outside…