Compliance Analyst- 12 month Contract
Munich Re
Toronto, ON
The Enterprise Risk Management team is looking for a Compliance Analyst to work on their team for a 12 month contract in the Toronto office.

Toronto , Canada

Reporting to the Director, Privacy & Compliance, the Compliance Analyst will support and assist with the following:

The local Regulatory Compliance Management (RCM) framework
Identification and communication of legal and regulatory compliance changes with respect to the Canadian Branch (OSFI, AMF, FSRA, BaFin)
The local Internal Control System (ICS) including regular reviews of local Risk Control Assessments (RCAs) and reporting to Integrated Risk Management (IRM) at home office
Cooperation with the Regional Compliance Manager (RCM) (Princeton) as part of the North American Compliance Hub
Cooperation with Group Compliance & Legal (GCL) at home office
OSFI correspondence and responsibilities
Your job

Local Regulatory Compliance Management (RCM) Framework & Solvency II Group Compliance
Maintain the local RCM as described in OSFI Guideline E-13
Design and implement local policies and procedures to strengthen regulatory reporting and the operational control environment including effective testing of local policies to ensure compliance
Research and communicate industry compliance trends and regulatory guideline changes (OSFI Guidelines, PIPEDA, etc.,)
Screen Financial Sanctions as described in OSFI Guideline B-8, and assess inherent risks as well as the design of system controls to capture the necessary information and the analysis of any findings.
Ensure that outsourcing of business activities, functions and processes are managed, monitored and commensurate with the materiality of the arrangements as described in OSFI Guideline B-10
Updates to Compliance Plan, Compliance Policies and Compliance Management System.
Communicate quarterly compliance reporting to GCL
Support oversight of privacy and legal requirements for Innovation initiatives
Support Risk Management on various projects and regular reporting (e.g. OpRisk, Risk Dashboard).
Support reviews of new agreements, contracts and liaise with external legal counsel to ensure compliance
Assist with anti-money laundering and anti-terrorist financing reviews of High Net Worth (HNW) clients for Montreal office
Partner with other teams to deliver key accountabilities (e.g. financial sanctions screening, cloud computing).
Support privacy initiatives internally (e.g. data protection projects, Business Continuity Management (BCM), tabletop exercises, trainings)
Internal Control System (ICS) Maintenance & Support
Coordinate RCA workshops as part of annual ICS cycle
Complete ICS deliverables and required submissions to IRM
Participate in Global Life ICS Group representing Canada Life Branch
Provide ideas for best practices among the international group
Support ICS Manager at US Life Operations to ensure consistencies between Canadian and US Life Operations
Monitor the operational control environment and RCAs through reviews and walkthrough procedures.
Provide feedback to ITSC ICS assessments prior to approval by Chief Risk Officer
Internal & External Audit Relationship Management
Support local departments with respect to audits and reviews by Internal and External audit during planning, fieldwork, findings, analysis and the response to the audit findings report
Your profile

A Bachelor’s degree in Accounting, Technology or other related fields
2 years’ of relevant experience in compliance and/or risk management
Experience in the financial services, banking or insurance industry would be a considered a huge asset
Business acumen coupled with strong interpersonal and influencing skills
Demonstrated ability to understand, interpret, and apply regulatory and legislative guidelines
Superior communication skills (including documentation and formal presentations)
Project management skills with superior attention to detail and accuracy
Advanced problem solving, multi-tasking and organizational skills
About us

Munich Re, Canada is committed to providing a superior level of service to our clients through our expertise, global resources, and financial strength. Our expert actuaries, underwriters, claims, and administration professionals have the skills and knowledge to provide our clients with innovative reinsurance solutions tailored to their business. It is our ability to listen to our clients and respond flexibly to their needs that makes us a partner in innovation and Canada’s reinsurer of choice. The Munich Re Group is one of the world’s leading risk carriers and stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. With over 50 locations, more than 5,000 clients and over 42,000 employees throughout the world, we apply a range of disciplines to provide solutions to make tomorrow’s world insurable.

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