Work In Tech

PPS and RPAA Regulatory Compliance Intern

At Interac, we design and deliver products and solutions that give Canadians control over their money so they can get more out of life. But that’s not all. Whether we’re leading real-time money movement, driving innovative commerce solutions like open payments for transit systems, or making advancements in new areas like verification and open banking, we are playing a key role in shaping the future of the digital economy in Canada.

Want to make a lasting impact amongst a community of creative thinkers, problem solvers, technical gurus and high-performance application developers? We want to hear from you.

Interac’s risk management team is looking for a passionate individual with a strong interest in Risk Management, Regulatory Compliance, and the payments industry. This internship will give you the opportunity to work, collaborate, and gain valuable hands-on experience with a dynamic team directly contributing to Interac's meeting of regulatory compliance obligations. The payments industry in undergoing massive change, and regulation of the space is ever growing with an eye on safeguarding Canadians and protecting Canadian economic actvity.

As a PPS and RPAA Regulatory Compliance Intern, you will be directly involved in Interac's meeting of PPS and RPAA regulations. You will support design and execution of the Prominent Payment System (PPS) and Retail Payment Activities Act (RPAA) regulatory compliance activities for Interac Corp. You’ll provide risk and regulatory compliance expertise and support to Interac business segments. As a member of the Risk Management team, you’ll work closely/under the guidance of Risk's Regulatory Compliance Leads, in the development and execution of the PPS and RPAA Regulatory Compliance Framework.

Qualities to have:

• Collaboration and working with a team

• Working with limited direction, agile, able to establish priorities needed to meet tight deadlines

• Comprehending regulatory compliance frameworks and Risk standards, and translating them into relevant action

• Analysis and Reporting work

You’ll be responsible for:

• Contributing to strengthening existing processes or introducing new processes required for Interac to comply with Bank of Canada's Prominent Payment System (PPS) desingation obligations.

• Onboarding Interac to comply with obligations of the newly effective Retail Payments Activities Act which governs retail payments supervision activities by the Bank of Canada.

• Gaining insight and knowledge into the Canadian payment ecosystem, Interac’s PPS-designated systems (Interac e-Transfer and Interac IMN (Debit)), which impact millions of Canadians every day.

• Identifying and recommending opportunities for continuous improvement and process efficiency.

• Maintaining and documenting processes; applying relevant business, technology and other enterprise expertise.

• Implementing, managing and promoting an environment of continuous improvement and the adoption of process improvement practices and tools.

• Developing/implementing innovative tools, resources and templates to support process improvements.

• Developing and framing materials/presentations that support senior management in articulating findings and recommendations to key stakeholders.

You bring:

• Solid verbal, written and analytical communication skills. You are able to articulate your thoughts succinctly

• Proven time management and organization skills. You are able to prioritize and manage your time effectively to meet deadlines

• Ability to maintain confidence and work with confidential material

• Comfortable with learning and working effectively either independently or with groups across different functions and levels – you are resourceful and able to adapt to shifting priorities

• Confidence in your ability to communicate detailed information in an impactful way – you’re able to articulate complex problems and recommend solutions

• Understanding that success is in the details. You notice things that others don't. Your critical thinking skills help to inform your decision making

• Relationship-building and strong interpersonal skills with the ability to develop trust and confidence, work effectively and collaborative with individuals across multiple functions and levels.

• A self-starter mindset with a drive for continuous learning and desire to understand what motivates people and how to engage diverse individuals

• Proficiency in the Microsoft Office Suite (Outlook, Word, Power Point, Excel, Power BI, MS Teams) with preference for working knowledge of Excel

• Although not required, you have some familiarity or previous experience with the following:

  • Knowledge of Canadian Payments Industry, trends, transaction data and process flow an asset.

  • Report writing expertise

  • Experience in Risk or Compliance

Interac requires employees to complete a background check that is completed by one of our service providers. We use this service to complete the following checks:

• Canadian criminal record check;
• Public safety verification;
• Canadian ID cross-check;
• 5-year employment verification;
• Education verification; and
• If applicable, Credit Inquiry and Social Media Check

How we work
We know that exceptional people have great ideas and are passionate about their work. Our culture encourages excellence and actively rewards contributions with:

Connection: You’re surrounded by talented people every day who are driven by their passion of a common goal.

Core Values: They define us. Living them helps us be the best at what we do.

Compensation & Benefits: Pay is driven by individual and corporate performance and we provide a multitude of benefits and perks.

Education: To ensure you are the best at what you do we invest in you