Job Description

Wealthsimple is on a mission to help everyone achieve financial freedom, no matter who they are or how much they have. Using smart technology, Wealthsimple takes financial services that are often confusing, opaque and expensive and makes them simple, transparent, and low-cost.

Our team is reimagining what it means to manage your money. Smart, high-performing team members will challenge you to learn and grow every day. We value great work and great ideas - not ego. We\'re looking for talented people who love a fast-paced environment, and want to ship often and make an impact with groundbreaking ideas.

We\'re a remote-first team and output is more important than face time, so where you choose to work is up to you - as long as you have internet access, you can work from anywhere in Canada. Be a part of our Canadian success story and help shape the financial future of millions - join us!

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At Wealthsimple, we are building products for a diverse world and we need a diverse team to do that successfully. We strongly encourage applications from everyone regardless of race, religion, colour, national origin, gender, sexual orientation, age, marital status, or disability status. Wealthsimple provides an accessible candidate experience. If you need any accommodations or adjustments throughout the interview process and beyond, please let us know.

Reporting to Wealthsimple\'s Director, Compliance & Risk, the Sr. Manager, Payments Compliance will be responsible for supporting Wealthsimple\'s expansion into new payments products and related growth initiatives.

In this role, you will be responsible for:

• Developing and implementing a regulatory monitoring and testing program
• Leading control validation engagements end-to-end, including scoping, design of the overall testing methodology and detailed testing procedures, execution of control testing, and audit reporting
• Identifying and assessing the design and operating effectiveness of current processes and controls and identifying weaknesses and/or gaps
• Communicating applicable risks, costs, progress, and results to all relevant internal and external stakeholders
• Constructively challenging deficiency action plans as needed and provide on-going monitoring over the completion of those plans
• Managing and coordinating external/regulatory audits and drafting the related response
• Managing any audit findings and ensuring deficiencies are addressed as communicated and on time
• Developing and fostering relationships with stakeholders for the purpose of creating an integrated risk framework and enhancing control effectiveness
• Understanding how Wealthsimple\'s risk appetite and risk culture should be considered in day-to-day activities and decisions
• Ensuring the adequacy, adherence to, and effectiveness of day-to-day controls meet obligations with respect to operational risk, regulatory compliance risk, and conduct risk
• Keeping current on regulatory changes and landscape, best practices, and cutting-edge developments in the payments industry
• Supporting other duties and special project work as assigned

• 4+years regulatory/compliance experience in a heavily regulated environment and/or regulator/government department
• A solid understanding of risk management and governance principles and familiarity with the process and controls that govern these activities
• Deep knowledge of federal and provincial legislation in relation to credit/prepaid cards, consumer lending, consumer protection, etc.
• Deep knowledge of quality assurance and control testing processes
• Experience dealing with regulators such as OSFI, FINTRAC, CDIC, FCAC and Bank of Canada
• Deep understanding of the overall regulatory risk and control environment
• Progressive and relevant work experience within the financial industry involving internal/external audit and risk management
• Strong attention to detail and documentation skills
• Advanced analytical, research, and investigative skills (e.g. researching laws/regulations
• Ability to understand and distill complex content into a clear and concise narrative and communicate it with audiences at all levels
• Appropriately assess risk/reward relationships when making decisions
• Ability to take ownership and lead projects with a proactive (reactive, when appropriate) approach and able to independently drive initiatives to conclusions
• Ability to perform well in a high pressure, time-sensitive environment
• Effective leadership qualities and motivated self-starter

• Knowledge and understanding of payment networks such as, Amex, Mastercard, Visa and Interac
• Knowledge of the Retail Payments Activity Act/Regulations
• Knowledge in payments innovation including future technologies such as real-time payments rails, open banking, etc.

Wealthsimple