Job Description

Join a Challenger


Being a traditional bank just isn\xe2\x80\x99t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what\xe2\x80\x99s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you\xe2\x80\x99re not afraid of taking on big challenges and redefining the future, you belong with us. You\xe2\x80\x99ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing!) family. Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada\'s Challenger Bank\xe2\x84\xa2, and have been around for more than 50 years. Equitable Bank\'s wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people\'s lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World\'s Best Banks 2023, 2022, and 2021 lists.


Purpose of the Job

This position will play a key role in the identification, assessment, management, monitoring and reporting of the Bank\xe2\x80\x99s Regulatory Compliance Program on an enterprise-wide basis, focused on ensuring alignment with OSFI E-13 guidance. The role will primarily be responsible for conducting testing activities on controls related to the Bank Act , Anti-Money Laundering/Anti-Terrorist Financing, Privacy, Consumer Provisions, Whistleblower, FATCA, and CASL.

This position reports to the Director, Regulatory Compliance.

Main Activities:

• Regulatory Compliance Management(RCM)

• Support the Director, Regulatory Compliance with the development, implementation and maintenance of enterprise-wide compliance related policies and procedures for the general operation of the RCM Program and its related activities to enable Management and employees to comply with regulatoryrequirements,andtomanagetheBank\xe2\x80\x99sregulatory,reputationalandotheroperationalrisks.
• Subject matter expert on the issues management function within the Bank\xe2\x80\x99s RCM Tool (Resolver), this includes adding, maintaining and closing regulatory compliance issues.
• Direct, facilitate and advise all business units on the annual testing schedule
• Advise business units in the assessment and management of compliance and associated risks in the design, development and implementation of standards, control and certification processes and programs specific to their businesses.
• Manage the adherence to, and adequacy and effectiveness of regulatory compliance controls (including inherent and residual risk ratings), and advise the business units in the development of additional controls on an as needed basis. Analyze findings, make recommendations and communicate them to various levels of management, as appropriate. Prepare formal written reports, as required, and track any issues to full resolution. Complete and maintain adequate work papers to support findings.
• Remain current on compliance related issues, developments, trends, practices and risks to the Bank and provide sound recommendations for action.
• Support the Director, Regulatory Compliance in leading or participating in strategic initiatives and projects where Compliance support is required. Provide advice and guidance to business stakeholders on compliance matters and requirements, as needed.
• Regularly review and/or draft internal policies and procedures relating to issues management. This will include, but is not limited to, the development and maintenance of Testing procedures, templates and communications
• Work closely with Internal Audit and external regulators during regulatory compliance reviews and examinations
• Maintain collaborative working relationships with other second and third line of defense Bank partners in order to foster the development of a compliance culture.
• DevelopcommunicationtoolstoensureongoingawarenessoftheRCMTesting

• 
  Reporting
• Support the Director, Regulatory Compliance with drafting Board and Management reporting related to issues management and compliance testing results
• Report to the Director, Regulatory Compliance on the adherence to, and adequacy and effectiveness of controls over regulatory risk. Ensure that reports provide thorough and concise information for management, as necessary.
• Collect, analyze and report on relevant metrics, e.g., RCM gaps and Internal Audit findings. Track and report on related gaps and status.

• 
  Monitoring and Testing
• Monitor adherence to the RCM Program by planning, developing, implementing and conducting consistent enterprise-wide compliance testing and monitoring.
• Manage the adherence to, and adequacy and effectiveness of regulatory compliance controls (including inherent and residual risk ratings), and advise the business units in the development of additional controls.
• Analyze findings, make recommendations and communicate them to various levels of management, as appropriate.
• Prepare reports, as required, and track any issues to full resolution. Complete and maintain adequate work papers to support findings.
• Develop and facilitate an effective and ongoing RCM monitoring and testing program which captures all areas of regulatory risk impacting the Bank.
• Develop communication tools to ensure ongoing awareness of the RCM Program and requirements thereunder including the communication of issues to internal stakeholders.
• Tracking and managing identified issues or gaps to resolution and updating all required policies and procedures accordingly.
• Support the department to ensure compliance issues/concerns are being appropriately evaluated, investigated, reported and resolved.

Knowledge/Skill Requirements:

• Preferably an undergraduate or graduate degree in business, finance, law or related field/professional certification or minimum of 5 years work-related experience in a federally regulated financial institution.
• Working knowledge of allies of the business and functional departments within a bank.
• Specialized knowledge and experience should include regulatory compliance, policies and procedures development, risk management disciplines and best practices.
• Knowledge of regulatory legislation including but not limited to the Bank Act,ProceedsofCrime,Privacy,federalconsumerprotectionlaws,regulationsandbestpractices.
• Previous experience in Compliance testing or Audit
• Excellent listening, written and verbal communication skills in order to influence a wide range of internal audiences and interact with all levels of management.
• Strong judgment, a practical approach and commitment to achieving excellence in regulatory compliance management.
• Abilitytodevelopandmaintainstrongrelationshipswithinternalandexternalcontacts.
• Effective problem-solving capabilities.
• Excellent organizational skills and the ability to work independently, perform under pressure within tight time constraints.
• Working knowledge of Microsoft Office(Word, Excel and PowerPoint).

What we offer [For full-time permanent roles]

\\uD83D\\uDCB0 Competitive discretionary bonus
\xe2\x9c\xa8 Market leading RRSP match program
\\uD83E\\uDE7A Medical, dental, vision, life, and disability benefits
\\uD83D\\uDCDD Employee Share Purchase Plan
\\uD83D\\uDC76\\uD83C\\uDFFD Maternity/Parental top-up while you care for your little one
\\uD83C\\uDFDD Generous vacation policy, personal days and even a moving day
\\uD83D\\uDDA5 Virtual events to connect with your fellow colleagues
\\uD83C\\uDF93 Annual professional development allowance and a comprehensive Career Development program
\\uD83D\\uDC9B A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience


The incumbent will be working hybrid and in office time will be spent working from Equitable Bank\xe2\x80\x99s additional office space located at 351 King Street East, Toronto, ON.

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone\xe2\x80\x99s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.


We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.

We can\xe2\x80\x99t wait to get to know you!