Associate, Compliance

About the role

In this position, you will play a crucial role in protecting the interests of clients within the wealth management industry. Your primary responsibility will be to ensure that the financial advice provided is not only tailored to meet client needs but also complies with relevant regulatory standards. By maintaining the integrity of client relationships, you will help uphold compliance with Canadian securities regulations, contributing to the overall trust and reliability of Wealthsimple's services.

Key facts

What you'll do

• Oversee and evaluate the activities of Portfolio Managers, Associate Portfolio Managers, and sales personnel to ensure that their recommendations align with client suitability and product knowledge standards.
• Review financial plans for thoroughness, compliance with regulations, and alignment with client objectives, ensuring all information is accurate and properly disclosed.
• Administer the firm's sales conduct review program, which includes both scheduled and risk-based assessments of client files, identifying potential issues, and facilitating their resolution.
• Conduct quality assurance checks on client onboarding and updating processes to ensure that Know Your Client (KYC) information is both accurate and well-documented.
• Monitor for any conflicts of interest that may arise from various activities, ensuring appropriate disclosure and management in collaboration with legal teams.
• Identify opportunities to enhance conduct review processes and documentation, leveraging technology to improve the efficiency of supervision.
• Collaborate with other team members to develop and implement best practices in compliance monitoring and reporting.
• Maintain up-to-date knowledge of industry regulations and compliance trends to ensure adherence to evolving standards.

Requirements

• A minimum of 3-5 years of experience in compliance or supervisory roles within a CIRO-regulated investment dealer or portfolio management firm, with direct oversight of Portfolio Managers.
• In-depth knowledge of NI 31-103, CIRO IDPC Rules, and Canada's Client-Focused Reforms, particularly in relation to KYC, KYP, suitability, and managing conflicts of interest.
• Familiarity with key financial planning concepts, including retirement planning, tax-efficient investing, and estate planning, and how they relate to regulatory suitability requirements.
• Successful completion of the CIRO Canadian Investment Regulatory Exam and Supervisor Examination, or prior completion of the Canadian Securities Course, Conduct and Practices Handbook (CPH), and Investment Dealers Supervisors Course (IDSC), with eligibility for supervisor registration.
• Strong analytical skills to assess client files, trade records, or financial plans quickly, identifying inconsistencies and escalating issues as necessary.
• Ability to handle challenging findings while upholding regulatory standards and maintaining professional relationships with business stakeholders.
• A proactive approach to leveraging technology and AI to automate tasks such as flagging exceptions, tracking KYC cycles, and generating compliance reports.

Nice to have

• Possession of a CFP, PFP, or equivalent designation.
• Completion of, or a strong interest in pursuing, the Chartered Investment Manager Designation (CIM®).
• Previous experience working with compliance software and AI tools for automation.

Skills & tools

• Proficiency in compliance software and tools.
• Familiarity with AI technologies for process automation and efficiency enhancement.

Practical notes

• Wealthsimple offers a comprehensive benefits package that includes top-tier health and life insurance, a long-term group savings plan with employer matching, 20 vacation days, 4 wellness days, and unlimited sick/mental health days.
• Employees have the flexibility to work outside of Canada for up to 90 days each year.
• The company actively supports various employee resource groups, including Rainbow (2SLGBTQ), Women of WS, and Black at WS, fostering an inclusive workplace culture.
• Wealthsimple operates as a hybrid team, with over 1,500 employees distributed across North America.
• The hiring process incorporates AI tools to assist with application reviews; however, all final hiring decisions are made by human evaluators.
• Accommodations for individuals with accessibility needs during the interview process are available upon request, ensuring an equitable hiring experience for all candidates.