Manager, Compliance Audit & Testing

Position Title: Manager, Compliance Audit & Testing
Reports To: Chief Compliance Officer Vice President
Department:  Legal and Compliance
Term: Permanent Full Time

Work Arrangements: This is a hybrid role. You will work in our office in Waterloo, ON a minimum of two (2) assigned, consecutive days every other week, plus a fifth (5th) assigned day per month. You are welcome to work from the office more than the minimum requirement and there may be some roles that are required to work in our office more than the minimum requirement.


The Opportunity: Equitable is growing! The Manager, Compliance Audit & Testing is accountable for the development, management and execution of the organization's external distribution audit program and the internal regulatory compliance testing program across all lines of business, including Corporate.  This role also provides regulatory compliance advice as a subject matter expert to ensure that Equitable is compliant with legislation, regulation, industry guidelines and Equitable policies while supporting the diverse needs of our business and distribution partners. This role performs the direct management of analyst(s) executing audit and testing activities.

Now is an exciting time to join one of the Waterloo Area’s Top Employer for 2025 and Southwestern Ontario’s Top Employers for 2024!


What you will be doing:

Distribution Audit:

• Managing and executing the distribution firm monitoring program, including ongoing risk assessment.
• Performing distribution firm and other external partner field reviews/audits.
• Performing advisor practice reviews.
• Leading analyst(s) in the execution of audit activities.
• Reviewing and issuing audit reports to distribution firms and other external partners.
• Tracking findings and monitoring the implementation of recommendations.
• Preparing and delivering reports to the Distribution Monitoring Committee and Senior Management.
• Identifying and escalating any key risks or trends in the sales activities of the sales force.
• Providing compliance advice and direction on escalated and complex issues.
• Assisting in the investigation of advisors, distribution firms and other external partners.
• Providing training sessions as required/needed by Head Office, field staff and/or distribution firms.
• Reviewing legislation, identifying requirements and issues, and auditing for adequate execution of these requirements.  This includes:

• • • Analyzing the detailed requirements and providing advice.
    • Determine and advising on necessary controls to update or amend operational procedures.
      
      

Regulatory Compliance Testing:

• Implementing, overseeing, executing and monitoring the corporate compliance testing program. 
• Assessing and recommending the elements for annual testing activities.
• Performing compliance testing and issuing the applicable reports to Senior Management.
• Providing compliance advice and direction on escalated and complex issues.
• Leading analyst(s) in the execution of testing activities.
• Tracking of testing results and implementation of recommendations by the applicable business units.
• Reviewing legislation, identifying requirements and issues, and testing for adequate implementation of these requirements.  This includes:

• • • Analyzing the detailed requirements and providing advice.
    • Determine and advising on necessary controls to update or amend operational procedures.

Market conduct oversight:

• Reviewing and providing guidance regarding advisors, distribution firms and other external partners investigations.

What you will bring:

• A minimum of 5 years of progressive insurance industry experience with demonstrated experience in the Individual life, Individual health, Savings and Retirement and Group lines of business.
• Post secondary education which may include a Professional Accounting Designation (CPA or equivalent) with demonstrated audit experience of not less than 5 years.
• Direct experience in regulatory compliance management, including strong knowledge of and experience in relevant issues, laws, regulations, and guidelines affecting compliance in the life insurance industry.
• Strong business acumen across Individual, Savings & Retirement, Group and Corporate, to determine and communicate how regulatory requirements impact the company.
• Excellent interpersonal and communication skills in order to impact and influence change across a variety of business functions.
• Ability to function as a mentor to the team in assessing and resolving both internal business and external distribution partner inquiries.
• Excellent knowledge of insurance products, key regulators, and regulatory requirements applicable to products offered.
• Advanced written and oral communication skills. Ability to communicate with all levels of the organization.
• Superior analytical, organizational, negotiation, documentation, presentation and critical thinking skills.
• Ability to work independently as well as in a team with excellent time management skills, the ability to remain calm and flexible under tight timelines, exercise judgment in a changing environment and prioritize competing demands.
• Ability to function as a back-up to other members of the Compliance team.
• Industry accreditations considered an asset.
  
  
  

What’s in it for you:

• A healthy work-life balance with employee wellness top of mind 
• Annual bonus program, annual vacation allowance, and company-paid benefits program  
• An additional paid volunteer day each year so you can spend time giving back to the community 
• Immediate enrollment in the company’s pension program with employer matching 
• Employee resource groups that support an inclusive work environment 
• Tuition support and specialized program assistance  
• An onsite full-service cafeteria with a variety of daily options 
• Discounts on company products and services, and access to exclusive employee perks  
• Regular EQ Together events focused on company togetherness and collaboration

As part of the recruitment/offer process you will be required to:

• Provide two professional references (minimum one supervisor and above)