Senior Business Conduct Compliance Examiner: Job Description

As a self-regulatory organization, the Canadian Investment Regulatory Organization (CIRO) takes its responsibility of setting high-quality regulatory and investment industry standards seriously, while protecting investors and supporting healthy capital markets in Canada.

In Business Conduct Compliance (BCC), CIRO takes great pride in what they do. By joining their dynamic and collaborative team of industry professionals, you will have the opportunity through the examination process to make a difference for investors and the capital markets.

This article delves into the details of the Senior Business Conduct Compliance Examiner position at CIRO, outlining the responsibilities, skills, and benefits associated with this crucial role.

Position Overview

• Position Title: Senior Business Conduct Compliance Examiner
• Department: Business Conduct Compliance
• Location: Toronto (Hybrid)
• Status: Regular Full-time

As a key member of an examination team, the Sr BCC Examiner conducts field reviews of sales and business conduct activities of Dealer Member firm head office and business locations. You will interpret and apply CIRO Dealer Member Rules to the evolving business models of firms.

Core Responsibilities

The Senior Business Conduct Compliance Examiner plays a vital role in ensuring compliance with regulatory requirements and maintaining the integrity of the Canadian capital markets. The core responsibilities of the role include:

• Execute examinations of firms to assess the effectiveness of their compliance programs and ensure successful completion of fieldwork within agreed budgeted hours and timeline addressing Manager review notes promptly to maintain examination quality and efficiency
• Conduct walkthroughs with the examination team to understand procedures and workflows, document processes and evaluate compliance with regulatory requirements
• Lead discussions with senior management, compliance teams, and supervisors to ensure transparent communication regarding examination progress and regulatory expectations
• Clearly document deficiencies and communicate findings to firms, collaborating with Managers to compile comprehensive examination reports, ensuring that findings are well-supported.
• Review firm remediation plans for compliance with regulatory requirements
• Monitor developments in regulatory requirements, industry trends, and best practices, keep examination procedures and compliance efforts aligned with evolving regulatory expectations
• Contribute to departmental initiatives aimed at enhancing the efficiency, effectiveness, and relevance of the examination program
• Collaborate with colleagues to identify and implement improvements to departmental practices and methodologies
• Assess risks associated with new products or business lines, tailoring examination procedures to address compliance with regulatory requirements
• Train BCC Examiners by instructing them in the field on examination procedures, closely supervising their work and providing assessments of their progress to BCC Managers
• Monitor developments in regulatory requirements, industry trends, and best practices
• Keep examination procedures and compliance efforts aligned with evolving regulatory expectations

Key Skills and Competencies

To be successful in this role, candidates should possess the following skills and competencies:

Must-haves

• General Undergraduate degree
• A minimum of 4 years' experience in compliance, audit or supervisory function with a Dealer Member, or other related employment with a securities regulatory organization
• Canadian Securities Course (CSC) and Conduct and Practices Handbook Course (CPH)

Nice to Haves

• Chartered Professional Accountant (CPA) designation with auditing experience
• Knowledge and interest in crypto currencies and crypto trading platforms
• Ability to quickly understand the risks associated with new business lines or products and to formulate practical examination procedures to address them
• Ability to professionally and effectively communicate both verbally and in writing
• Attention to detail and ability to exercise sound judgement
• Ability to work independently in a team-oriented environment
• Ability to multi-task, adhered to timelines and work under pressure in different environments
• Ability to travel
• Derivatives Fundamental Course (DFC), Branch Managers' Examination Course (BME), Chief Compliance Officers Qualifying Examination (CCO), Investment Dealer Supervisors Course (IDSC) and Investment Dealer Compliance Course (IDCC) are considered assets

Compensation and Benefits

CIRO offers a comprehensive compensation and benefits package to its employees, including:

• Competitive base salary in alignment with market
• Performance based bonus
• Hybrid work environment
• Employer paid Health Benefits and Spending Account that offer flexibility to meet your individual or family needs as of day one.
• Defined Contribution Pension Plan with company matching that starts on your first day of employment.
• Paid flex days and sick days
• Vacation days
• Maternity Leave Of Absence /Paternity Leave Of Absence top up
• Paid continuous learning and continuing development including designations.

Why CIRO?

CIRO's mission is to promote healthy capital markets by regulating fairly and effectively so that investors are protected and confident investing in their futures. As regulators, they understand that they are all investors, and therefore a career with them is a purposeful career: protecting our future.

Life at CIRO is purpose and performance- driven. They foster an inclusive culture where teamwork, a forward-thinking attitude, and integrity are at the core of everything they do. This creates an environment where employees thrive, grow, and are empowered to learn and contribute their best. Joining CIRO means becoming part of a dynamic and transparent organization that values accountability and is committed to maintaining the highest standards of regulatory oversight in the financial industry.

CIRO is an equal opportunity employer and is committed to providing employment accommodation in accordance with the Ontario Human Rights Code and the Accessibility for Ontarians with Disabilities Act, 2005 (AODA). CIRO will provide accommodation to job applicants with disabilities throughout the recruitment process.

Additional Opportunities at CIRO

CIRO also seeks candidates for the position of Business Conduct Compliance Examiner. The core responsibilities of this position include:

• Gather information to assess a Dealer Member’s business activities to determine the scope of the review and the areas of principal risk, in consultation with the lead examiner
• Assess the risk of assigned examination areas and follow procedures to ensure that examination objectives are achieved and conclusions are adequately supported
• Interact with senior management, supervisory and compliance staff of a Dealer Member to evaluate the effectiveness of the firm’s controls
• Draft examination findings in consultation with the lead examiner and assist in the preparation of the examination report that is written in plain language
• Actively contribute to team discussion, openly sharing experiences and ideas to improve examination practices and departmental goals

The must-have skills and competencies for this position include:

• Undergraduate degree
• The following courses are required: Canadian Securities Course, and Examination based on the Conduct and Practices Handbook for Securities Industry Professionals
• Total of 3 years in a compliance, audit or supervisory function with a Dealer Member, or 3 years other related employment with a securities regulatory organization
• Knowledge of securities and mutual funds industry, CIRO Dealer Members and their activities
• Ability to quickly understand the risks associated with new business lines or products and to formulate practical examination procedures to address them
• Effective written and oral communication skills
• Attention to detail and ability to exercise sound judgement
• Professional presentation and manner
• Ability to work independently in a team-oriented environment.
• Ability to multi-task, adhere to timelines and work under pressure in different environments
• Interest in ongoing learning and professional development in a compliance capacity
• Motivated to make a difference
• Ability to travel

Sr Membership Intake Examiner (Business Conduct Compliance)

CIRO is also seeking a Sr Membership Intake Examiner to analyze and verify Dealer Member applications and transactions.

Core Responsibilities:

• Perform subject matter expert review, analysis, and recommendation of assigned Dealer Member transactions from an MI-BCC perspective, working in consultation with the relevant stakeholders within MI and within the impacted Compliance teams, as appropriate.
• Perform the role as File Lead for assigned Dealer Member transactions. This entails being the main point of contact for the Dealer Member with respect to the overall transaction. The File Lead is also responsible for driving the file to full completion, ensuring all relevant internal reviews and milestones are completed within the required timelines.
• Ensure complete tracking and documentation of the MI-BCC analysis of a Dealer Member transaction for the purpose of oversight and internal/external reporting.
• Assist in the maintenance of the written procedures for the MI-BCC analysis of Dealer Member transactions.
• Contribute to process improvement in relation to MI's processing of Dealer Member transactions.
• Effective verbal and/or written communications with Dealer Members and applicants, which includes the effective communication of complex matters in a clear, concise, and complete manner to ensure the Members' understanding and responsiveness.
• Complete assigned training and continuing education to develop and maintain the appropriate expertise on new business models and products associated with Dealer Member transactions.
• Represent Membership Intake effectively in meetings with internal and external stakeholders, which include the C-suite at Dealer Members and applicants, external counsel for Dealer Members, and CIRO senior management.

Key Skills and Competencies:

• Undergraduate degree
• A minimum of 5 years' experience in a compliance, audit or supervisory function with a Dealer Member, securities regulator or self-regulatory organization
• Comprehensive understanding of CIRO's business conduct requirements for Dealer Members.
• Experience in and strong knowledge of regulatory processes and requirements
• Successful completion of the Canadian Securities Course and Conduct & Practices handbook.
• Experience in and strong knowledge of regulatory processes and requirements
• In-depth expertise in Business Conduct Compliance.
• Strong ability to meet tight deadlines, adept at multi-tasking amidst competing priorities, and agile in approach to tasks
• Strong understanding of CIRO Rules and Canadian securities laws
• Ability to detect, analyze, and evaluate complex deviations, deficiencies, and non-compliance with generally accounting principles and IFRS, internal control objectives, rules, and policies
• Strong problem-solving and critical-thinking skills to address complex issues
• Ability to effectively communicate complex matters both orally and in writing

CIRO is a pan-Canadian organization that oversees all investment dealers and trading activity in marketplaces across Canada. This position requires the ability to communicate with employees in CIRO regional offices and other CIRO stakeholders across Canada.

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