Vice President, Legal & Compliance

Vice President, Legal & Compliance

DUCA is looking for a Vice President, Legal & Compliance to join our growing team! 

Job Purpose & Summary

Reporting to the Chief Risk Officer, the Vice President, Legal and Compliance will lead DUCA’s compliance team and activities including anti-money laundering and anti-terrorist financing (AML/ATF), privacy, complaints, and organization-wide legislative and regulatory requirements.  Operating as DUCA’s Privacy Officer and Complaints Officer, this position will also oversee compliance investigations and the organization’s vendor risk management framework.

Delivering in-house legal advice and counsel to DUCA on regulatory, compliance, governance, new business initiatives and general business matters, this position will also provide direction and oversee the implementation of requirements and sustainability of controls by various departments related to regulatory and legislative requirements.

Additionally, the Vice President, Legal and Compliance will act as DUCA’s Corporate Secretary and will have significant interaction with the DUCA Board of Directors as well as supporting the CEO (as appropriate), Chief Risk Officer, and other functions in interactions with regulators, auditors, Members, and other stakeholders.

Key Accountabilities & Duties

• Oversee key compliance functions including anti-money laundering / anti-terrorist financing regulatory compliance and investigations, client and employee privacy compliance and investigations, 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; lead best practices and develop quality assurance and controls
• Proactively evaluate business processes and procedures to identify compliance risks; investigate and respond to compliance risk issues; develop and implement recommendations, partnering with the business where necessary, to address gaps
• Oversee and develop the compliance team; design and organize the function to enable DUCA to meet its compliance and regulatory requirements in an efficient and effective fashion; set and execute strategic, tactical, and operational objectives; enhance quality assurance
• Initiate and develop in-house legal expertise to support DUCA Executive Leadership Team (ELT) and Board of Directors on relevant compliance, regulatory, and industry governance matters. Provide legal perspectives on key strategic and business decisions – note that DUCA engages external legal counsel on financing, employment, and other business transactions.
• Oversee vendor risk management process including risk assessment of critical vendors, review of key vendor and partner contracts, and engage in operational risk perspective of vendor relationships
• Act as key interface with Internal Audit for the purpose of compliance audits; evaluate existing key controls and the control environment to enable effective compliance; identify and implement improvements
• Interact with and support DUCA Member-facing employees to enhance awareness and understanding of compliance requirements and best practices
• Act as DUCA’s Corporate Secretary which includes close liaison with the Board Chair, individual Board members, Committee chairs, and DUCA’s ELT. Corporate Secretary functions include coordination of agendas for Board meetings, recording and producing Board and committee minutes, Annual General Meeting support, and management of DUCA’s policies and associated process. The role supports new Board director onboarding and facilitates ongoing training.  Corporate Secretary role will also expand into support for DUCA’s annual general meeting.
• Develop and 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

Occupational Experience & Education Requirements

• University degree in Law. Further legal professional designation preferred
• 7 – 10 years’ experience leading a complex legal and 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
• Experience acting as a Corporate Secretary and Board liaison, with awareness of Board fiduciary oversight complexity
• 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

Working Conditions

• Normal office environment

Department: Risk Management

Primary Location: Corporate Office - 5255 Yonge Street, North York, ON

Employment Status: Full-time

Hours per Week: 38 hours

Job Grade Level: 12

About DUCA

DUCA exists to help people do more, be more and achieve more with their money and their lives. We’re driven by a co-operative philosophy that puts our Members (and Owners) at the centre of every decision we make, gives them a voice in how we’re run, and rewards them for their loyalty by sharing our profits.

At DUCA, we’re dedicated to creating a positive environment where our employees have growth and development opportunities, a healthy work/life balance, opportunities to give back to the community, and a focus on doing what is right for our Members. DUCA offers a competitive total compensation package including base salary, a short-term incentive (bonus) program, a comprehensive benefits program, pension plan, and employee banking benefits.

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

Qualified applicants are encouraged to submit their application. Applications must include both a resume and cover letter.

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