Blue Cross Life Insurance Company of Canada is a federally licensed company that distributes its products through a network of Blue Cross Plans. The Company provides a complete offering of life and disability income insurance products that supplement and enhance the portfolio of health products distributed by its Shareholder Blue Cross Plans.
As Chief Compliance Officer, Chief Anti-Money Laundering Officer, and Chief Privacy Officer, the incumbent will be responsible for overseeing the design, implementation and maintenance of the Company’s Regulatory Compliance Management (RCM), Anti-Money Laundering (AML/ATF), and Privacy programs.
The Chief Compliance Officer (CCO) will work within an Enterprise Risk Management framework to provide independent oversight of compliance with laws and regulations. This includes assessing the adequacy and effectiveness of policies, procedures in line with regulatory requirements.
The CCO will be a key member of the Senior Management team, reporting to the Chief Risk Officer.
As Corporate Secretary, the incumbent will ensure the integrity of the governance framework and serve as the focal point of communication with the Board, Senior Management and Shareholders.
As Director of Operational Risk, the incumbent will provide technical risk expertise, project management leadership & guidance, and effective input and challenge over the operational risk program design and execution, while supporting a continuous improvement, high performance culture. In doing so, the incumbent will need to effectively partner with stakeholders in the Distributors.
- Maintaining and administering Blue Cross Life’s Regulatory Compliance Management System (RCMS).
- Ensuring corporate and regional staff is aware of applicable regulatory requirements and implementing training activities as needed.
- Interacting with regional compliance representatives on market conduct and provincial regulatory issues of Blue Cross Life. Includes leading the BCL Market Conduct Committee on a quarterly basis.
- Providing detailed compliance reports and updates to Senior Management and the Board of Directors or its committees.
- Ensuring appropriate implementation of complaints handling policy, monitoring consumer complaints and coordinating with Blue Cross Life’s regional contacts. Fulfilling duties of Complaints Officer.
- Developing and maintaining anti-money laundering compliance regime, and ensuring Blue Cross Life’s regions receive appropriate training regarding anti-money laundering and related reporting requirements. Responsible for the timely filing of monthly anti-terrorist reports to OSFI. Fulfilling the duties of Chief Anti-Money Laundering Officer.
- Fulfilling duties of Chief Privacy Officer – interfacing with the Offices of the Privacy Commissioner, monitoring ongoing privacy related issues in collaboration with regional privacy contacts and ensuring appropriate controls in place with respect to new guidelines or directives from Privacy Commissioners. Includes leading and chairing the BCL Privacy Committee on a quarterly basis.
- Reviewing and monitoring the Blue Cross Life agent sponsorship applications and agent sponsorship renewal of licenses in all applicable jurisdictions. Monitoring and maintaining sponsored agent registry and interfacing with provincial regulators regarding sponsorships and termination of sponsorships.
- Updating by-laws as required and ensuring timely filing of all corporate license renewals for Blue Cross Life.
- Attending Board and Committee meetings, preparing meeting notices, agendas, and minutes and providing guidance on procedural matters, resolutions, motions.
- Ensuring timely communication with Directors and Shareholders regarding meeting notices, agendas, materials, proxies, conflicts of interest.
- Reviewing and ensuring timely filing of corporate returns, OSFI filings required by the corporate secretary and updating securities register as required.
- Along with the Chief Risk Officer, the incumbent is a key resource in successfully finalizing the project leading to the full operationalization of the Operational Risk Management Framework, including but not limited to; operational risk event reporting & analysis, risk and control self-assessments, key risk indicators and the integration of these tools into our enterprise risk management framework in support of progress towards compliance with OSFI’s E-21 guidance.
- Ensuring that the efficiency and effectiveness of the operational risk second line assurance and challenge functions are continually enhanced.
- A degree in business or related discipline, risk-related qualification or equivalent experience
- Professional Designation or Advanced Degree (e.g. LLB, MBA, CPA, etc) considered an asset.
- Current and in-depth experience in the implementation and maintenance of the Regulatory Compliance Management framework in a Canadian, Federally Regulated Financial Institution
- 10+ years of Canadian Financial Services experience.
- Demonstrated knowledge of the Canadian Regulatory environment, applicable laws, regulations, industry best practices, and practical application of controls.
- Highly developed and demonstrated analytical skills, with attention to detail
- Proven ability to transform overarching objectives into an executable plan and demonstrating a proven ability to build sound, repeatable processes.
- Able to effectively engage and communicate clearly with business partners, regulators, and Board of Directors
Language Skills: Bilingualism is considered an asset