Finance Audit and Controls Manager

Monday, October 28, 2024

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.

POSITION SUMMARY

The role will ensure Finance and Treasury risk management, compliance and control responsibilities are executed in accordance with the Bank’s risk management, and compliance governance and oversight mandates. The role will reside within the Finance and Treasury functions and will be responsible for promoting a culture of compliance and risk awareness through collaborative engagement with risk owners, Risk Management, and Compliance.

MAJOR ELEMENTS OF THE ROLE

Primary Responsibilities

• Promote risk awareness in Finance and Treasury Business Units
• Managing and reporting on operational risks in Finance and Treasury including accounting operations, internal and external reporting, and regulatory reporting
• Implementation and documentation of internal controls, enhancing control descriptions, identification of control weaknesses and assisting in the remediation of deficiencies.
• Perform quality assurance testing of adherence to enterprise-level requirements and business unit specific operating procedures
• Perform testing on key controls and deliver timely reporting on New Initiative Risk Assessments (NIRA’s) to help ensure an effective and efficient internal control environment within Finance.
• Collaborate and work closely with risk and compliance teams and other internal and external stakeholders on all elements of the risk and compliance management program.
• Act as the primary liaison with Risk and Compliance.

Finance Risk Assessment and Compliance

• Assist in the development of Finance standard operating procedures.
• Maintain, review, and update the repository of Finance policies, standards, operating procedures, and guidelines.
• Ensure compliance with relevant financial regulations, accounting standards, and internal controls.
• Ensure risk is being managed effectively while maintaining a customer and performance-oriented culture.
• Review risk and compliance risk assessment reports for accuracy and completeness
• Retain record of risk assessments, including documentation of any application of professional judgement
• Monitor, coordinate and facilitate annual and trigger-based risk assessments across Finance and Treasury to ensure timely completion.
• Provide ongoing support to investigate and mitigate internal audit recommendations and assist in remediation of audit gaps including any regulatory risks identified.
• Identify risk trends and emerging risks across Finance and Treasury. Inform management and risk and compliance teams of the risk exposure.
• Collaborate with risk and compliance teams on all elements of HomeEquity Bank’s risk and compliance management program.
• Support risk and compliance teams with third party risk management and vendor governance including onboarding, financial risk assessment, monitoring, and reporting.
• Work closely and collaboratively with other risk oversight functions as well as internal and external auditors.
• Manage and coordinate response to risk, compliance, internal audit, regulatory examinations or third-party independent reviews on behalf of management.
• Recommend policy, procedure and control enhancements as required to address current and emerging risks

Controls Management, Testing and Reporting

• Perform quality testing of Finance and Treasury processes and internal controls.
• Develop action plans to address identified issues and control gaps.
• Implement action plans to remediate control gaps and monitor and report on progress.
• Facilitate control assessments and liaise with compliance and risk to share control assessment findings.
• Develop and maintain quality assurance testing plans and share testing plans, methodology and results with risk, compliance, and internal audit.
• Maintain record of quality assurance testing working papers and relevant reporting
• Regularly consult management and review risk, compliance, and internal audit testing results to determine appropriate updates to the quality assurance testing plan.
• Monitor status of action plans, report analysis, provide updates, and escalate key issues and incidents to management, risk, compliance, and internal audit.
• Validate issues and the associated issues severity ratings.
• Prepare documentation evidencing the closure of issues and sustainability.
• Perform root cause analysis on issues to identify risk themes and trends.
• Execute and report on existing and New Initiative Risk Assessments (NIRA) within Finance and Treasury
• Monitor and report on Key Risk Indicators (KRIs)
• Manage and report on identified gaps and compliance issues.
• Monitor and report changes to the business profile and inform management, risk and compliance of changes.

SKILLS AND EXPERIENCE REQUIRED

Qualifications and Technical Expertise

• Professional Designation, CPA (Certified Public Accountant)
• Bachelor’s degree in finance, accounting, business administration, or a related field.
• Experience in risk management or internal audit or regulatory compliance in the finance and accounting domain.
• Treasury and capital markets experience would be an asset.
• Strong understanding of risk management, internal controls, and audit methodologies.
• In-depth knowledge of accounting principles and accounting best practices.

Attributes

• Strong analytical and problem-solving skills.
• Audit and controls mindset
• Excellent attention to detail and accuracy, with a high level of integrity and ethical standards.
• Excellent communication, interpersonal and writing skills, with the ability to collaborate effectively with multiple stakeholders at all levels.
• Ability to manage multiple priorities and meet deadlines in a dynamic work environment.

WHY WORK AT HOMEEQUITY BANK?

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.