Chief Compliance Officer, Cwb Wealth

At CWB, 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.

Role Specifications

Everyday Flexibility. Hybrid Work Environments. On-site Requirements. Collaborative Connections.

CWB is a bank built for business owners.

Canadian Western Bank (CWB) is the only full-service bank in Canada with a strategic focus to meet the unique financial needs of businesses and their owners. Our teams take a relationship-based approach to deliver a uniquely proactive client experience through highly personalized service, specialized expertise, customized solutions, and faster response times. We provide full-service business and personal banking, nation-wide specialized financing in targeted industries, comprehensive wealth management offerings, and trust services.

Our highly engaged teams operate within a client-centric, collaborative, and change-ready culture, with a core focus to achieve our vision to become the best full-service bank for business owners in Canada as we continue to transform our capabilities, united as one.

About CWB Wealth Management

As part of CWB Financial Group, CWB Wealth Management is a private wealth advisory leader in Canada, that specializes in meeting the complex needs of the high-net-worth sector. With more than 200 wealth professionals across Canada, we hold over $8 billion in assets under management and administration and provide advisory services on over $2 billion of Indigenous Services assets.

The opportunity

Reporting to CWB’s Chief Compliance Risk Officer (CCRO), the Chief Compliance Officer (CCO) will be responsible for compliance at CWB Wealth Management. They will have multi-faceted compliance leadership exposure in an ASC regulated environment, seated within an OSFI-regulated parent organization.

The CCO will provide direct day-to-day support and strategic leadership to the compliance team at CWB Wealth, including establishing and maintaining appropriate policies, procedures, and systems to ensure the Firm adheres with applicable regulatory requirements and securities legislation.

Areas of focus

Oversee CWB Wealth Compliance

• Oversee and administer the compliance program for CWB Wealth Management Ltd. registered in the category of Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer.
• Lead and oversee daily supervision of account opening and updates.
• Oversee both prospectus and continuous disclosure requirements for each of the mutual funds managed by the Firm and private fund documentation to ensure the Firm is meeting obligations under applicable laws.
• Lead or support the investigation of identified control weaknesses and instances of non-compliance and monitor for timely and effective issue remediation.
• Lead trade supervision and monitoring of trading and portfolio management.
• Act as a knowledge resource to client facing team to ensure products and services are delivered in compliant manner.
• Lead oversight activities to ensure adherence to Know Your Client (KYC), Know Your Product (KYP), and suitability.
• Conduct ongoing assessments of conflicts of interests and their impact to clients.
• Oversee the independent monitoring and testing of regulatory framework controls within CWB Wealth, to identify any control weakness; provide guidance or recommendation for remediation.
• Participate in current and new product review activities and ensure client-facing employees have the appropriate training.
• Ensure all regulatory filings are on time and accurate, including Form 1, fund financial documents and other applicable filings to avoid fines, sanctions or suspension of licensing.

Drive Strategic Planning & Maintenance of Oversight Program

• Lead the evolution of an integrated compliance and supervision framework that meets all regulatory and legislative requirements and identifies and prevents violations of regulatory requirements by the firm, employees and clients through risk assessments and supervision.
• Consult on the development and execution of the technology roadmap for CWB Wealth, evaluating business practices to ensure activities are compliant.
• Ensure adequacy of policies and procedures as prescribed by Securities regulators, including training and educating employees, Directors and executive management on understanding regulatory measures and compliance to fulfill their respective obligations.
• Review business opportunities from a compliance perspective, including new products, services, location/markets and technology changes. Balance business development decisions with compliance considerations.
• Responsible for the supervision of all activities that are directed towards compliance with applicable regulatory bodies and legislation; maintain regulatory approval/registration as CCO.
• Reports any material non-compliance to the UDP. Provides an annual CCO report to the Board of Directors.
• Partner with Regulatory Compliance and other enterprise risk management functions to ensure that compliance and risk strategies are aligned with and supportive of enterprise-wide frameworks.
• Effectively manage relationships with external regulatory bodies including the Alberta Securities Commission (ASC), including support to all regulatory audits and timely remediation of compliance issues identified.
• Provide recurring and ad-hoc reporting to senior leadership, executive Board members and other collaborators as required.

Provide Overall Leadership Support with Compliance Function

• Provide responsive, positive and constructive leadership coaching, mentorship, direction and development assignments to strengthen the depth and breadth of expertise within the team.
• Supervision of registered individuals including oversight of registration and jurisdiction categories.
• Contribute to various CWB Financial Group and CWB Wealth committees as assigned.
• Partner with key collaborators to ensure effective employee experience, including an assessment of registration education and proficiencies.
• Maintain a trusted environment where Wealth Management employees can report risk and compliance issues and concerns.
• Cross-support a leadership culture that is inclusive and change ready, including providing coverage, support and advice in collaboration with colleagues.

Successful incumbent

With thorough knowledge of regulatory compliance practices, the CCO is a naturally inquisitive and change-ready leader who values the opportunity to strategically build the compliance function, working closely with the CWB’s CCRO and the President & CEO of CWB Wealth Management.

The successful candidate will be decisive and results-oriented with a high level of emotional intelligence and intellectual curiosity. They’re equipped to drive a dedicated, open and modern organizational culture and maintain high standards of skill, care and diligence in their professional activities.

Core Knowledge Requirements

• Solid understanding of investment fund compliance as set out in NI45-106 and NI81-101-107.
• Relevant CSI courses required by securities commission to be registered as a Chief Compliance Officer and Supervisor: CCO, PDO, BCO, BMC, CSC, CPH and relevant continuing education courses.
• University degree in a related field of finance or economics.
• Strong knowledge of securities industry’s regulatory compliance practices, procedures and principles applicable to Securities legislation and regulation (i.e., NI31-103 CP Part 11, Division 1).
• Currently registered as a CCO for IFM, EMD and PM.

Demonstrated Experience

• Ability to influence diverse collaborators and decision-makers with different operational responsibilities and incentives; ability to build and maintain contacts with regulators and peers at other financial institutions.
• 10+ years of relevant securities industry and professional experience within a financial institution, including senior compliance and risk management roles and experience dealing with regulators.
• Strong analytical capability and the ability to comprehend sophisticated business and regulatory situations; an ability to handle a multitude of tasks simultaneously and to thrive, with grace and humour, under pressure.
• A deep commitment to promoting and supporting an equitable, diverse and inclusive organization; a strong ability to support and promote a visible commitment to a culture of compliance, integrity and ethical values.
• Strong political savvy to establish credibility, and partner and collaborate with, and influence stakeholders to extract time and resource commitments, with and without authority, across the organization.
• Demonstrated understanding of fundamental securities and regulatory and industry knowledge.

Invest in your career with CWB. Apply today.

As an equitable employer, CWB Financial Group is committed to providing a safe and inclusive environment 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 accommodation 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.

07/7/2023