Director, Compliance Risk Management

WHO WE ARE      

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.  

OUR VALUES, OUR PASSION

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

• Customer-Focused. Passionate Advocates 
• Courage to Act. Do the Right Thing 
• One Team. One Vision 
• Think Long-Term. Ever-Evolving 
• Be Exceptional. Inspire Greatness

POSITION SUMMARY

Reporting to Vice President & Chief Compliance Officer, this role is responsible for managing, monitoring, and reporting on the operating effectiveness of HomeEquity Bank’s Regulatory Compliance Management (RCM) program and for leading the Compliance Monitoring and Testing Program. This role is important to ensure the bank’s adherence to regulatory requirements, including with OSFI guidelines and will play a critical role in driving compliance consistency, effectiveness, and continuous development across the bank, partnering with business teams and leaders and risk management.

MAJOR ELEMENTS OF THE ROLE

Key accountabilities of this position include:

• Compliance Risk Management Program leadership.
• Manage and maintain the bank’s enterprise-wide compliance risk management framework, ensuring alignment with regulatory expectations and industry best practices.

• Managing and coaching a team in the execution of the Bank’s RCM Program and other compliance activities.

• Manage the execution of the Compliance Monitoring and Testing Program.

• Develop and maintain frameworks, policies, procedures and other regulatory compliance controls to ensure the Bank’s ongoing compliance with applicable laws, regulations, rules and guidelines.

• Develop compliance training material.
• Maintain a working knowledge of applicable regulatory requirements.
• Oversee the status of management corrective actions in response to bank regulatory compliance issues.

• Ensure effective execution of compliance projects by direct reports and oversight team members.
• Provide advice and guidance to business as needed, including support on new initiatives.
• Monitor the Bank’s regulatory environment to identify new and changing laws and regulations applicable to the Bank and working with Bank business partners to ensure the Bank’s continued compliance with regulations.

SKILLS AND EXPERIENCE REQUIRED

Qualifications

• Undergraduate degree in Business, Finance, or a related field preferred. Post-graduate degree or other related designations e.g. CFA, Financial Risk Manager (FRM) an asset.

• 8+ years of professional work experience within a regulated financial institution
• Experience implementing 8d managing Compliance programs.

Attributes

• Superior communication skills (written and oral) with the ability to understand and translate complex technical issues into business impact.
• Strong judgment and ability to effectively process information and draw meaningful/persuasive conclusions.
• Proven ability to build and foster professional relationships and influence others effectively at senior management, peer and staff levels.
• Ability to adapt to rapidly changing business needs and priorities.
• Self-motivated and able to work independently and as part of a team having a “hands on” approach as well as appreciate diversity of thought and opinions.
• Demonstrated ability to manage multiple complex engagements simultaneously, and to prioritize work and efforts of team effectively.

Working Conditions Unique to Job

• Hybrid office environment

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
 

A Dynamic Culture – With People at the Centre  

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023. 
 

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.  
 

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness  

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.