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Futurpreneur Canada is the only national non-profit that provides resources, financing and mentoring to aspiring business owners ages 18 to 39. Since 1996, we have supported over 12,000 young entrepreneurs launch over 10,000 Canadian businesses in every province and territory across the country, 45% of which are women led. Mentoring is at the core of what we do, as we match every entrepreneur that we finance with a business expert from a network of 3,000 volunteer mentors. Futurpreneur is a founding member of the G20 Young Entrepreneurs’ Alliance, the Canadian member of Youth Business International and the Canadian host of Global Entrepreneurship Week.
Here’s the opportunity:
This role ensures the accurate, timely preparation and completion of files for disbursement, ensuring all conditions are met as required and that the file is compliance complete when passed to the Loans team. This role contributes to the continuous compliance with Risk and Compliance Policy, and must satisfy the requirements of the Futurpreneur annual external audit and audits from other funders; including the requirements of audits by the BDC.
This role also acts to safeguard the interests of Futurpreneur and BDC to ensure we support only eligible entrepreneurs and applications, and to satisfy all applicable aspects of Risk Policy relative to disbursements, documentation, and satisfy all compliance elements of the BDC Co-lending Agreement.
What you will do:
- Review all conditions set by NCA for approved customers and enter into the CRM database (Tactus) for tracking
- Ensure any missing information or gaps in approved file information are outlined to key stakeholders for resolution
- Review responses and documents received from internal stakeholders relating to conditions; profile to NCA where indicated for NCA sign off on satisfaction of conditions, update CRM database (Tactus) to show documented progression re the satisfaction of conditions
- Identify and document and exceptions or substitutions for approval conditions, seek documented NCA approval for same
- Process files for disbursement in Tactus once all outstanding loan conditions have been satisfied; file marked compliance complete and flow seamlessly to Loans for disbursement within established SLA’s
- Meet Compliance SLA as measured by: Compliance cut off for resolving conditions received from CRM’s approximates 24 hours
- Ensuring conditions are reviewed daily and notation of compliance review entered same day in Tactus
- Backing up for other Compliance Team members as required, regarding the daily processing of file conditions and file processing on disbursement days
- Contributing to cross functional team meetings as required
- Complete BDC checklists and forward to BDC when complete & correct, compliant with BDC requirements (i.e. checklist documents received and correct, ID verification completed, minimum investment satisfied)
- Ensure core documents are correct and compliant, i.e. banking information for disbursement, Loan Agreement and Promissory Note, Business and other ownership confirmation, ID documents, BDC financing application form, other condition documents.
- Other data entry as required, example: amount of external funding
- Adhere to the FC and BDC co-lending agreement checklist requirements
- Ensure all co-funded files comply with The FC and BDC co-lending agreement KYC (Know your Customer) requirements pertaining to all checklist criteria, including ID verification methods and requirements
- Ownership and “Existence of Entity” verified against business registration and additional documents as required (i.e. Shareholder Agreement) to ensure the existence of the business entity funded per FC and BDC co-lending Agreement requirements. Ensure parties to our application are compliant when compared to ownership documents.
- FC only files (no BDC) adhere to the FC ID documents and verification process
- Credit Risk Matrix exceptions – ensure for any exceptions that documented sign off with one up approval (CFO) is on file
- Completion of outstanding NCA conditions -with appropriate NCA approval on file
- Compliance approval of outstanding conditions without NCA approval may be acceptable where it pertains to a condition not requiring NCA interpretation- i.e. Business Registration, Completion of Ment2b
- Final verification of core eligibility (such as Age eligibility, CDN Citizen or Permanent Resident, etc.)
- Continuously seek efficiencies via innovation and process improvements; and improve SLA’s
- Assist with the resolution of Post disbursement conditions
- Ensuring Data in Tactus is up to date regarding Compliance activities
Business Quality Review
- Ensuring 3rd party external funding amounts are entered in Tactus (as per note entered by NCA)
- Ensuring credit scores (ERS,BNI) entered into Tactus for Accelerator and Growth Accelerator files
- Double checking the core eligibility of all applications (including Industry eligibility), and profiling inconsistencies to NCA
Key Stakeholder support
- Backing up other members of the Compliance Team as required with daily file processing and other duties
- Communicating effectively with other stakeholders and advising in a timely manner (within SLA as established above under TRANSACTIONAL) of any compliance condition related issue (example: if a CRM submits a condition for compliance review, review and respond within SLA)
What you will have:
- Combined post-secondary education and 2 plus years of prior experience in a credit analysis/compliance role in a Financial Services environment
- Strong written and verbal communication skills
- A track record of meeting deliverables; self-motivated, dependable and accountable
- Strong attention to detail
- Ability to multi-task and prioritize to meet deadlines
- Proven organization, time management skills
- Demonstrated ability to work effectively under pressure in a dynamic environment
- Working knowledge of Microsoft Office (Word, Excel, and Outlook)
- Bilingual (French and English) is an asset
What we offer:
Futurpreneur offers you the opportunity to work for an organization with a clear and compelling purpose - helping young entrepreneurs realize their dreams. Respect, teamwork, diversity and inclusion, transparency, empathy, impact, innovation, high performance, recognition and working hard and having fun are important to us!
We offer an attractive compensation package that encompasses a competitive salary, amazing benefits and the opportunity to make an impact in the lives of young entrepreneurs and Canada’s economy.
How to apply:
Qualified candidates are invited to submit their resume, cover letter and salary expectations by October 18, 2019.
Futurpreneur will make available reasonable accommodations for people with disabilities upon request. We thank all candidates for their interest and advise that only those selected for an interview will be contacted.
#LI – MM1
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