Purpose of the Role:    

• Maintains the regulatory requirements central repository (RCM library), by interrogating sources (online and other) for new / amended regulatory requirements and periodically reviewing the links to online sources and updating the contacts register of regional regulators and other authorities, including developing and updating guidelines and procedures, updating the library and maintenance of related records, to ensure that the repository is kept current, and the Bank is aware of all applicable regulatory obligations and to build and maintain key relationships with regulators for the effective execution of the regulatory compliance programme.
• Assesses the impact of identified regulatory requirements and performs risk assessments to determine overall exposure and adequacy of controls, to ensure regulatory compliance risks are identified and aligned to the correct business units and internal controls.
• Maps new and amended regulatory requirements against non-AML Compliance owned policies in conjunction with the programme managers, monitoring and reporting on the state of compliance against requirements across all oversight functions and assists in the development and delivery of job aids and other training material to employees, to ensure that internal processes and controls are developed / updated to meet regulatory obligations and to ensure that documentation is up to date and socialized with impacted staff. 
• Communicates regulatory updates to impacted businesses and supports stakeholders through the gap analysis process, escalating gaps, to facilitate updates to and the development of key controls, including policies that maintain the Bank’s compliance with its regulatory obligations.
• Maintains RCM and other control streams for Compliance, which includes initiating and addressing questions concerning the periodic assessments against changes in regulatory requirements, to ensure the Compliance controls are designed and operating effectively to inform the Chief Compliance Officer’s (CCO’s) assertion processes.
• Participates in the risk assessment of the Bank’s regulatory requirements and periodic reviews of business units and governance and functional group policies, to ensure risk ratings are kept current and any control tests developed or amended accordingly.
• Compiles RCM reports and dashboards for submission to stakeholders (CCO, CIBC, management, and boards) and provides input for the RCM control quarterly assertion for Compliance, reviewing the results of Oversight Function Control assessments to feed the CCO’s reporting, to ensure that the CCO can opine on the overall adherence to, design and effectiveness of RCM controls, satisfy regulatory requirements.

• Knowledge of regulatory requirements in relation to one or more of the following banking, financial services, human resources, and other legislative requirements impacting the Bank’s operations within the Caribbean would be an advantage.
• Knowledge of the operational and controls elements in the banking environment.

• 2- 3 years’ experience in a banking environment
• University degree in law, banking, or related field 
• Experience designing and assessing controls in a financial services or auditing environment.
• Experience in banking legal, regulatory or compliance environment is an asset.
• Experience in delivering quality work in a fast-paced environment.
• Good administrative, analytical, and business support experience

Position reports to:  Senior Manager, Regulatory Compliance Management

Category: Risk Management

Function: Compliance

Expiry Date: 27-1-2025