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Senior Consultant in Investment Compliance

Req. #:  13881
Department: Investment Administration
Location: Montreal, QC CA
Job Status: Permanent Full-time
Grade:  08
Category: Accounting, Finance and Taxation
Description:

The primary responsibility of this position is to monitor that managed funds and corporate investments operate within the limits prescribed by their respective investment guidelines, regulations and corporate policies, and as such, to oversee the testing of investment advisor activity to identify potential regulatory and or policy violations.

This position is also responsible to ensure that a systematic approach is applied for investment compliance monitoring for all funds and actively leads efforts to continuously expand or strengthen the department's capabilities to maintain consistent investment compliance processes, to mitigate risk for the firm.  More specifically, the Senior Consultant, Investment Compliance:

  • Monitors investment advisor activity to identify potential regulatory and or policy violations.  To that effect, independently reviews, interprets, and identifies investment restrictions stemming from fund disclosure, client agreements and regulations.  Obtains legal interpretation where necessary and defines compliance terms.  Challenges investment advisor interpretation and translation of investment restrictions into compliance rules.
  • Determines investment compliance monitoring and reporting requirements for Canadian Risk Policies and investment funds.
  • Liaises with the portfolio advisors’ teams to ensure risks posed by the adopted investment approach and the selected fund managers are clearly understood and reported.
  • For new security/instrument types and new external markets, researches profile (characteristics, classification and risks) and analyzes the investment compliance impact.  Proactively raises emerging investment risk issues for which no policy has yet been developed.  Carries out due diligence on complex investments.
  • Works with Product Development to establish and document compliance processes and procedures for new mandates and portfolio advisors. Provides expertise on fund compliance matters related to the design and implementation of new products.  Reviews and comments on updates of documentation related to Standard Life's investment funds, including but not limited to Mutual funds prospectus, Information Folder, SPFIP&G, Trust agreements and Investment Management Agreements.
  • Works with oversight functions Compliance, Internal Audit and Risk Management to ensure conformity on investment compliance matters with relevant regulatory requirements and internal policies.  Assists in providing responses to regulator inquiries, audits and surveys. 
  • Provides support for oversight activities allocated from the Compliance monitoring program; research and interpret new legal and regulatory requirements delegated to Investment Operations (pertinent clauses of the Insurance Company Act, National Instruments, CLHIA Guidelines, Money Laundering, Privacy Acts, PBSA/R). Assess' adequacy of controls in place to support the VP's sign-off.
  • Monitors regulatory authorities (OSFI, AMF, CLHIA and OSC) initiatives and developments, in particular on regulatory and statutory investment compliance matters (insurance products, investment funds, securities and pension legislation). 
  • Coordinates process optimization and supervises development of related computerized tools. Works closely with all stakeholders to continuously develop and enhance processes.
  • Develops procedures for ongoing monitoring and review of the platform.  Supervises monitoring process against investment parameters/ restrictions. 
  • Researchs and provides expertise to management on impact of new regulations on investment compliance function and Investment Operations department. 

REQUIREMENTS

  • Bachelor’s degree in Finance, Accounting or Law (LL.B. or J.D.).
  • Appropriate professional designation (Lawyer, CFA, CA, CMA, CGA) or advanced degree work (Master’s degree).
  • Minimum of 8 years of experience in the financial services industry, preferably with 2-3 years in a position providing investment compliance or regulatory advice, or oversight support in an asset management environment.
  • Previous leadership experience preferred.
  • Ability to research, analyze and interpret legislation and its practical application to investment content.
  • Ability to research and analyze investment strategies.  Detailed investment product knowledge.  Good understanding of a range of derivatives, their uses and their economic and operational impact.  Strong working knowledge of securities across asset classes
  • Literacy in information technology used to carry out responsibilities and in particular, of Microsoft Office (Excel, Word) and investment compliance applications.
  • Excellent knowledge of applicable government and industry regulations.
  • Understanding of the financial services and insurance industries (mutual funds, segregated funds, pension products).
  • Strong numeracy skills.  Capacity to lead very detailed analyses.
  • Understanding of portfolio management, including the management of collateral, preferred. 
  • Bilingualism (English and French, written and spoken).

Standard Life Canada is committed to creating and maintaining an inclusive and accessible workplace. If you are contacted for an interview and require accommodation during the interviewing process please let us know. 

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The personal information gathered on this website is considered strictly confidential and will be used exclusively for recruitment purposes by the Human Resources department at The Standard Life Assurance Company of Canada. Under no circumstances will this information be used for other purposes or forwarded to a third party without the candidate’s authorization.





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