Canadian Western Bank
Job title:
Senior Analyst, Regulatory Compliance (FATCA & CRS)
Company
Canadian Western Bank
Job description
At , we strive to build value for the people who choose us every day: our people, our clients and our investors. We do this by holding true to the values that guide us. We put people first and build relationships with intention. We seek out and embrace new ideas, knowing that better is always possible. We believe that how we do things is as important as what we do. And we harness the power of inclusion. Our culture is who we are and how we show up – as individuals and as a team – to accomplish our strategy.
Roles Specifications
Everyday flexibility. Hybrid work environments. On-site requirements. Collaborative connections.
Location: Edmonton, Corporate Office
Put a new spin on your banking career
The overwhelming majority of our employees say CWB is a Great Place to Work®
We’re different from the big banks in the way we engage our employees – caring, responsive, and armed with an obsession for growing talent. Our reputation is powered by a people first culture that ensures our employees be and feel heard, promotes inclusivity and diverse viewpoints, and inspires collaboration and innovation.
Our employees love CWB. You’ll love it here too.
The Opportunity
The Senior Analyst, Regulatory Compliance – FATCA & CRS, will oversee FATCA and CRS reporting within Regulatory Compliance, with oversight responsibility in the specific areas of Income Tax Act compliance per U.S. Foreign Account Tax Compliance Act (FATCA) agreement rules and international Common Reporting Standards (CRS) compliance, as well as other compliance reporting responsibilities as assigned. We are looking for a candidate that has Second Line accountability for effective enforcement of enterprise standards and protocols in such specifically assigned areas, to be followed by the First Line business support teams and Second Line compliance teams. The position requires excellent knowledge of applicable regulatory requirements, policies, and procedures, and the ability to analyze legislation, regulation and guidance as translated into practical direction and advice.
Areas of Focus
CWB’s FATCA/CRS Compliance Program
Establish, execute, and maintain the FATCA-CRS protocols, procedures and processes by which regulatory reporting related status information is directly requested, received, tracked, and handled in Regulatory Compliance from Bank personal.
Act as the knowledge expert and key lead for Bank banking centres regarding FATCA-CRS monitoring and reporting requirements and any escalated matters across all Bank clients, including onboarding and due diligence follow-up of identified accounts.
Act as the knowledge expert and key contact for CWB, regarding the development, execution and maintenance of CWB-specific FATCA-CRS protocols, procedures and processes, including both Second Line compliance teams as well as First Line operational teams (e.g., Operations, Information Services) for personal and business clients as applicable.
In both the external and internal contexts, provide knowledgeable, well-informed, and practical direction, advice, and support, in a timely and client service focused manner. This role will be regularly called upon to interpret and analyse the application of FATCA/CRS requirements to specific client matters, as part of escalated decision-making support to team analysts. When support matters are escalated to this role with enterprise level implications for cross-Group compliance, the Senior Manager will typically be engaged.
Oversee and manage the appropriate CWB-specific preparation, validation and reporting of FATCA-CRS information, for personal and or business clients as applicable, within the prescribed formats and deadlines to minimize the risk of consequences including regulatory action, reputational damage, client complaints and civil litigation. This includes covering team execution support duties as and when team capacity requires.
Act independently, arrive at conclusions and/or recommendations based on the exercise of good judgement.
Maintenance and Review of Enterprise FATCA/CRS Program
Act as the primary Second Line knowledge expert on CWB’s FATCA-CRS monitoring and reporting requirements, for personal and or business clients as applicable, and as required by the Senior Manager, provide guidance to First Line business units internally across the enterprise in support of their development and maintenance of FATCA & CRS operational policies and procedures.
Develop and maintain Second Line policy protocols, procedures and processes in support of CWB’s FATCA-CRS program compliance, as applicable to the identification and due diligence review of personal and or business accounts as well as the identification and reporting of reportable persons. Support the Senior Manager’s development and maintenance of enterprise-wide FATCA-CRS compliance standards.
Maintain Second Line oversight of applicable standards and protocols and their coverage of all CWB-specific business aspects through ongoing, independent monitoring of and research into the various complex sources of FATCA-CRS regulatory requirements and guidance, as well as their application within industry, developing updated or new protocols and procedures in coordination with appropriate other Second and First Line stakeholders when changing circumstances warrant.
Establish and maintain CWB-specific FATCA-CRS tools and processes for electronic tracking of relevant customer and account level information, and document filing and record retention, including effective challenge of First Line information support where appropriate to ensure the accuracy and completeness of regulatory reporting. This includes leading Second Line support to FATCA-CRS tool and process enhancement at CWB as applicable.
Assist with the management of regulatory compliance risk and control assessments, and control effectiveness testing, of FATCA & CRS and other assigned compliance areas in accordance with Regulatory Compliance Risk Management (RCRM) standards.
Continually monitor for, develop and implement opportunities for improvement of internal programs, processes, and tools, engaging other internal stakeholder support as appropriate, to achieve organizational goals and to ensure adherence to external regulatory requirements (e.g., CRA, OSFI, FINTRAC, etc.).
Ensure that the confidentiality of CWB and its customers is maintained by routinely securing all documentation during non-business hours and to be aware of and adhere to employee personal and business conduct policy.
Demonstrated Experience
Education
Undergraduate university degree or similar post-secondary education in a related field
Accounting and or risk management related designation preferred.
Professional Experience
At least 5-7 years of related experience, preferably within the banking industry including a minimum 4 years of proven experience in a similar compliance or risk management area.
Exposure to regulatory compliance, risk management, quality assurance and related areas.
Experience supporting regulatory matters, regulatory change initiatives and regulatory examinations would be beneficial.
Experience monitoring adherence to policies and procedures.
Supervisory experience and a strategic thinker.
Personal Competencies
Effective organizational, project and time management skills with the ability to prioritize, support and anticipate the needs of the department and deliver on concurrent deliverables and projects with competing priorities
Knowledge of regulatory requirements relating to FATCA-CRS compliance would be an asset.
Knowledge of regulatory and compliance practices, procedures and principles applicable to the banking industry in Canada.
Strong oral and written communication skills, with ability to provide clear and sound advice on practical, cost-effective solutions to complex issues.
Strong ability to understand, analyze and interpret regulatory requirements.
Demonstrated comfort with information technology, particularly the effective utilization of data analytics and related technology-driven processes in support of risk and controls monitoring of CRA reporting.
Excellent analytical and problem-solving skills.
Ability to support and develop an effective compliance team through communication and coaching support.
Advanced interpersonal skills necessary to work across functional boundaries and levels of the organization, involving various First Line business areas and Second Line support functions.
Experience dealing with management at all levels, including the capacity to explain risk management exposure from identified results and findings in the language of business
Why work with us?
Your success is our obsession! And our benefits back it up.
Wellness matters. We offer an award-winning benefits package that includes hybrid work environments, everyday flexibility, company-funded health coverage, health care spending account, a flexible wellness program & generous time-away options to unplug, rest & recover. Bring your whole self to work. Inclusion is a journey requiring practice & experience to result in a powerful outcome. Your perspective matters & voice will be heard. Find community within the CWB family in our employee represented groups. Career development. We commit to our employees’ development and help them reach their professional goals with organization wide coaching services, mentorship, education support & training programs. Strategic career design is an investment in our core asset – our people. Innovation. Learn. Grow. Enhance. At CWB, we play to win. When we fail, we fail forward. Recognition. Peer-to-peer recognition programs for “in the moment” and monumental wins. Community giving. Make a difference. Drive economic prosperity in your community. Get involved. Volunteer. Fundraise. All with CWB support. ESG & sustainability focused. Be proud of where you spend, work & invest. Financial rewards. Base salary & pay for performance incentives. Retirement investment strategy. You can’t work forever! So, we’ve got you covered. Company ownership. No greater sense of motivation & empowerment than being an owner.
Find your at
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As an equitable employer, CWB Financial Group is committed to providing a safe and where a diverse workforce thrives. You are welcomed and encouraged to bring your whole self to work. Dignity, respect and equality are non-negotiables. If you require during any part of the recruitment or selection process, please reach out.
Closing Date:
- Position closes at 12:01am on the close date identified below. 01/26/2024
Expected salary
Location
Edmonton, AB
Job date
Mon, 08 Jan 2024 08:08:55 GMT
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