PURPOSE • Reports to the Chief Compliance Officer of RMFI and in the absence of the CCO, is responsible for overall compliance oversight to the RMFI (10,000 mutual fund representatives, 2,500 financial planners). • Ensures that key compliance functions effectively and efficiently manage regulatory and business risks, for example Trade Surveillance, back office operations and Branch Reviews. • Manages all aspects of internal and external audits (e.g. MFDA Sales Compliance Reviews). • Provides expert compliance advice to senior business leaders and various operational units supporting the distribution of mutual funds and offering of financial planning services through Company Royal Bank distribution channels • Evaluates new/amended regulatory requirements for the mutual fund dealer and leads the development and implementation of sustainable compliance practices that consider the strategic direction of Company Royal Bank, and/or advises business partners on how to meet those requirements. PRIMARY RESPONSIBILITIES • Accountable for trade surveillance ensuring RMFI’s adherence to regulatory requirements, and that regulatory and business risks related to this function are effectively managed. This includes: • Responsible for managing/supervising the trade surveillance team (3). • Responsible for ensuring that trade surveillance procedures consider not only the minimum requirements of MFDA Policy 2, but also mitigate business risks in an effective and efficient manner. • Responsible for providing meaningful, accurate and timely reporting to management and compliance. • Manage key relationship and liaise with other business partners (e.g. Investment and Retirement Planning). This requires the ability to educate, impact and motivate others to meet often tight timelines and strict/prescriptive regulatory requirements. This includes: • Liaising with stakeholders to provide expert advice/support in the area of compliance through expert knowledge of the business and regulatory requirements, keeping current on all issues and recommending solutions that consider business practices/risks. • Representing compliance on various groups/committees (both internal and external to Company) involved in the development of new business strategies and initiatives. This person is expected to make judgement calls and make decisions. • Responsible for all aspects of audits conducted by regulators and by Company, as well as Risk and Control Monitoring reviews (RCM) conducted on behalf of RMFI to meet MFDA regulatory requirements. This includes: • Managing relationships with regulators and Company partners. • Ensuring the ICR program is effective, and considers MFDA Policy 5 requirements as well as business risks • Ensuring that meaningful reporting is provided to management and compliance to assess risks, and where risks are noted solutions are identified. • Oversee all aspects of RMFI operations, such as MFRP, Dealer Services, and systems that RMFI relies on, such as RBIS, Sales Platform, etc.) • Other responsibilities include: • Providing strong risk management support for the organization by independently leading special initiatives/projects including the identification and resolution of compliance deficiencies, as required. • Accountable for the new product approval process, ensuring compliance with MFDA requirements and managing business risks. • Accountable for marketing approvals conducted by the National Office Manager, ensuring compliance with securities and MFDA requirements. • Assisting the Chief Compliance Officer in other duties, as required JOB SPECIFICATIONS • University Degree in business, finance, economics or other related discipline (prefer - Professional Designation such as LLB, MBA, CA/CFA) • Expert and specialized knowledge of the securities industry - Minimum 10 years of relevant experience related to mutual fund dealer activities (banking practices/environment is an asset.) • Canadian Securities Course and Partners, Directors and Officers Qualifying Exam • Financial Planning designation/accreditation (preferable) • Demonstrated analytical thinking and problem solving skills • Strong organizational skills • Strategic mindset • Demonstrated leadership skills • Excellent interpersonal skills and ability to impact and influence • Excellent communication skills, written and verbal • PC skills, Word, Excel and Power Point AUTHORITIES, IMPACT, RISK • Has the authority to develop and recommend policies and procedures to minimize risk to Company and make decisions related to new products, IT development, etc. • Recommendations/decisions often have significant impacts on branch staff, operations and management. • Part of the enterprise compliance function (Global Compliance) • This role manages regulatory and reputational risk KEY RELATIONSHIPS • RMFI National Office Compliance Staff • RMFI Regional Compliance Officers • Company Departments: • MFD and Company FP, • Company GAM, • Operations Engineering and MFRP, • Sales Support, • Legal, • Internal Audit, • etc. • Company business leaders • Mutual Fund Dealers Association • LI-SE1 Diversity and Equal Opportunity Employment: Company is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, national origin, age, disability, protected veterans status or any other legally-protected factors. Join Our Talent Community Want to be in-the-know about great career opportunities at Company? It's easy! Join our Talent Community and get the inside scoop on jobs, career paths, recruitment events, and more!