HR Risk & Compliance Manager - RFA Bank of Canada

HR Risk & Compliance Manager - RFA Bank of Canada

HR Risk & Compliance Manager

Date: December 11, 2024

Location: ON

Company: RFA Bank of Canada

Job Type: Permanent

About RFA

Founded in 1996, RFA (Realty Financial Advisors) is a leading Canadian-owned real estate firm. Through RFA Bank of Canada and RFA Mortgage Corporation, RFA offers mortgage brokers a complete range of Prime and Alternative mortgage solutions.

RFA Bank of Canada, a division of RFA (Realty Financial Advisors), is a federally regulated Schedule I Bank. Our goal is to be a long-term leader in the residential lending market by offering more than just competitive rates and compensation. At RFA Bank of Canada, we focus on delivering a unique value proposition in the Alternative mortgage space, committed to innovation and exceptional service to meet a diverse range of borrower needs.

The Opportunity

We’re looking to fill an HR Risk & Compliance Manager position at RFA Bank of Canada! This individual will The Human Resource Compliance and Risk Manager is responsible for ensuring the organization adheres to Canadian labor laws and regulations, manages HR-related risks, and oversees vendor management to support organizational objectives. This role involves developing and implementing policies, conducting audits, and ensuring HR is compliant.

Core Responsibilities

As an HR Risk & Compliance Manager, you will:

Core Responsibilities:

• Identify opportunities for process improvements and drive initiatives that enhance efficiency, accuracy, and compliance across HR Operations.
• Promote best practices and standards within the HR department, ensuring we consistently meet and exceed regulatory and internal audit requirements.
• Stay ahead of industry trends and emerging best practices, bringing innovative solutions to HR processes and controls.
• Managing and reporting on operational risk in HR including payroll and compensation operations, internal and external reporting, and regulatory reporting.
• Implementation and documentation of HR internal controls, enhancing control descriptions, identification of control weaknesses and assisting in the remediation of deficiencies.
• Perform testing on key controls and deliver timely reporting on Key Risk Indicators (KRI) and Operational Risk Events (ORE) to help ensure an effective and efficient internal control environment within HR.
• Oversee the creation, evaluation, testing, and revision of HR standard operating procedures.
• Manage, assess, and refresh the collection of HR policies, standards, and guidelines.
• Ensure adherence to applicable financial industry regulations, HR standards, and internal controls in all HR operations.
• Effectively manage HR-related risks while fostering a customer-focused and performance-driven culture.
• Evaluate risk and compliance assessment reports for thoroughness and accuracy.
• Maintain records of risk assessments, documenting any use of professional judgment.
• Organize and facilitate annual and event-triggered risk assessments within HR to ensure they are completed on time.
• Provide continuous support in investigating and addressing internal audit and regulatory risks and opportunities.
• Identify risk patterns and emerging risks within HR, informing management and compliance teams about potential exposures.
• Collaborate with risk and compliance teams on all aspects of RFA Bank of Canadas risk and compliance management framework.
• Work with Risk and Compliance teams on third-party risk management and vendor oversight, including onboarding, risk assessments, monitoring, and reporting.
• Collaborate closely with other risk oversight functions, as well as internal and external auditors.
• Coordinate responses to risks, compliance issues, internal audits, regulatory reviews, or third-party evaluations on behalf of management.
• Suggest enhancements to policies, procedures, and controls as needed to address existing and emerging risks.

Controls Management, Testing and Reporting

• Conduct quality testing on HR processes and internal controls.
• Create action plans to address identified issues and control deficiencies.
• Execute action plans to remediate control deficiencies while monitoring and reporting on progress.
• Facilitate control evaluations and collaborate with compliance and risk teams to communicate assessment findings.
• Develop and maintain quality assurance testing plans, sharing methodologies and results with risk, compliance, and internal audit.
• Conduct quality assurance testing to ensure compliance with enterprise-level requirements and specific business unit operating procedures.
• Keep a record of quality assurance testing documentation and relevant reports.
• Regularly consult with management and review findings from risk, compliance, and internal audit testing to update the quality assurance testing plan as needed.
• Track the status of action plans, analyze reports, provide updates, and escalate significant issues to management, risk, compliance, and internal audit.
• Confirm issues and their severity ratings.
• Prepare documentation to demonstrate issue resolution and sustainability.
• Conduct root cause analyses on issues to identify risk patterns and trends.
• Execute and report on existing and New Initiative Risk Assessments (NIRA) within HR.
• Monitor and report on Key Risk Indicators (KRIs).
• Manage and report on identified compliance gaps and issues.
• Monitor and report changes in the business, informing management, risk, and compliance teams of these changes.

HR Information and Insights

• Establish and monitor key HR performance metrics essential for enhancing business insights and improving decision-making.
• Investigate best practices and promote the use of advanced HR analytics tools and predictive models.
• Lead initiatives to ensure data integrity and address information gaps through thorough data validation and high-quality standards.
• Identify opportunities to optimize processes and utilize technology, such as workflow enhancements, to streamline administration.

What You’ll Need to Succeed

• Bachelor’s degree in human resources, Business Administration, or related field
• Professional certification (e.g., CHRP, CHRL) is an asset.
• Proven experience in HR compliance, risk management, and vendor management.
• Strong knowledge of Canadian labor laws and regulations.
• Experience in HR reporting and HR operations.
• Proven experience in audit, compliance or controls management
• Proficiency in HR software or other HRIS platforms
• In-depth knowledge of HR principles, and best practices.
• Strong understanding of risk management, internal controls, and audit methodologies.

What Sets You Apart

• Excellent communication, problem-solving, and organizational skills.
• Strong analytical and problem-solving skills,
• Excellent attention to detail and accuracy, with a high level of integrity and ethical standards.
• Commitment to maintaining confidentiality and integrity in all HR practices
• Ability to manage multiple priorities and meet deadlines in a dynamic work environment.

Our Values and What We Offer at RFA

At RFA, we live by our core values. These values guide our daily actions and shape our work culture:

• Accountability: You take ownership of your work & its consequences. You always consider risk & make informed decisions.
• Selflessness: You share info & teach others. You’re able to put your ego aside & understand that the best idea wins.
• Inclusivity: You value differing viewpoints & experiences. You understand how this can drive growth & innovation.
• Innovation: You seek opportunity & embrace change. You see tech as a way to enhance productivity & drive profitability.
• Courage: You make tough decisions in our best interest. You see opportunity when faced with challenge or adversity.
• Impact: You value results & your contributions. You rise to the occasion and never settle for sub-par.
• Performance: You embody a competitive spirit, desire to win and strive for executional excellence.

Along with a strong work culture, RFA offers a comprehensive benefits package, including :

• Vision Care
• RRSP Match
• Health & Wellness Spend
• Vacation & Personal Days
• Hybrid working environment

Ready to take the next step?

If this opportunity excites you and aligns with your skills and aspirations, we’d love to hear about how you can contribute to our team at RFA.

Accessibility

Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.