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OTT Financial Group: Chief Compliance Officer

OTT Financial Group

This is a Contract position in Montreal, QC posted May 30, 2021.

Reporting to the CEO of OTT Pay Inc., the Chief Compliance Officer is responsible for ensuring OTT Pay’s business is operated in compliance with all applicable rules and regulations, including AML/ATF laws, FINTRAC Guidelines, and requirements from payment associations/partners, including but not limited to MasterCard, Visa, Interac, UnionPay, WeChat Pay, Alipay, and FCAC., with respect to merchant acquiring, payment processing, digital solutions for money transferring, and other types of payment services.This role ensures the ongoing review, monitoring, and analysis of business activity, advising and recommending new or changes of internal policies and procedures to the Senior Management and board of directors, while staying abreast of related changes on policies, guidelines, and industry practices to ensure that the business meets its compliance obligations.This role shall work in tandem with other members of OTT Group of companies by providing guidance and/or support with respect to compliance programs.Key Duties and ResponsibilitiesOversee and manage the maintenance and improvement of the company’s existing compliance program/AML/ATF program.Develop internal policies and procedures to address all applicable regulatory requirements.Conduct ongoing reviews and risk assessment of the business to ensure it is in compliance with all applicable laws, regulations, guidelines and policies.Keep abreast of all new legislation and regulatory requirements related to the business and incorporate any related updates into internal policies and procedures.Provide advisory support, training, and direction to staff to ensure the business operates effectively in accordance with all requirements.Maintain effective relationship with regulators, external compliance stakeholders/industry entities, and liaise with partners on changes.Perform reviews and analysis to identify risks associated with contractual terms with acquirers, payment product suppliers and ISOs/agents and develop control measures to ensure their activities follow related policies and requirements.Develop and maintain due diligence program to ensure related requirements from regulators, acquiring partners, and Card Brands are met.Ensure accurate reporting and analysis of various internal and external compliance reports, logs or statistics on any fraud, charge back, complaints and manage resolutions and controls to issues or non-compliance instances identified.Manage the coordination of internal and external audits, banking partners, and regulatory reviews impacting the business.Refresh existing compliance training program and continually evolve the design, content and training material relevant to applicable regulatory and compliance requirements.Assess the impact of regulatory developments/changes and act as the subject matter expert by providing sound recommendations and relevant guidance to the Senior Management on emerging compliance issues, trends and potential risks related to business.Attend industry events and participate in other compliance related projects as needed.Perform other duties as requested.QualificationsAt least 8 years’ experience in managing compliance/AML within the financial service industry or the payment service industry.In-depth understanding of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and the required policies and procedures.Demonstrated knowledge of the Canadian Regulatory environment, applicable laws, regulations, industry practices and practical application of controls related to AML/ATF.Extensive compliance experience in the development, implementation and maintenance of compliance program and AML/ATF framework in the financial services sector.Deep understanding of AML/ATF risks, as well as good knowledge in areas of planning, reporting, and development of the compliance and AML/ATF policies and procedures.Solid compliance review experience and proven leadership skills with the ability to advise, manage, coach and motivate staff in a team environment.Strong ability to oversee the ‘big picture’, perform risk assessments and identify issues, and provide directions and make recommendations to manage and control risks.Highly developed and demonstrated analytical and compliance reporting skills.Strong interpersonal and leadership skills with ability to solve problems.Strong organizational and negotiation skills with attention to detail.Excellent communication skills both written and oral.Adaptable, flexible and responsive to changes in a fast-paced environment.Strong computer skills, with proficiency in Word, Excel and Outlook.University degree or equivalent experience.AML designation (CAMS) is mandatory.Legal background and other designation in the financial industry would be an asset