Associate Director, Asset Management

3 weeks ago

Old Toronto, Canada EQ Bank | Equitable Bank Full time
p>Join a Challenger

Being a traditional bank just isn’t 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’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank, 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 six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.

The Work

The Associate Director, AML Enhanced Due Diligence (EDD), is responsible for the development and execution of Bank’s enhanced due diligence program including customer screening, high risk customers, PEPs, Ministerial Directives and sanctions. This position supports the Senior Director, AML and the CAMLO in the ongoing management and the oversight of Equitable Bank’s enterprise-wide AML/ATF program.

This position also assists the Senior Director, AML in ensuring AML/ATF related operations are working effectively to mitigate ML/TF and regulatory compliance risks, and the screening and enhanced due diligence programs are maintained and current to support a comprehensive and effective Regulatory Compliance Management regime within the Bank. The environment is often fast-paced and requires the effective time management of multiple tasks and projects.

  • AML/ATF Program
  • Responsible for the implementation, oversight and management of an effective AML/ATF program with respect to enhanced due diligence and screening activities.
  • Proactively manages the AML department’s client name screening program, and monitoring routines to ensure adherence to established AML/ATF policies and procedures.
  • Continually assesses AML/ATF related activities and the effectiveness of department-level procedures and makes recommendations for improvement to the Senior Director, AML.
  • Monitors and analyzes compliance related issues, trends and risks to the Bank and provides sound recommendations for action to the Senior Director, AML.
  • Accountable for initiating and leading initiatives to streamline processes and introduce new efficiencies to AML/ATF related activities and leveraging technology and automation to achieve results.
  • Ensures staff are trained on due diligence techniques and provides ongoing training to address gap or new developments.
  • Reporting
  • Responsible for development of risk and operational reporting to the Senior Director, Deputy CAMLO and Senior Management related to the EDD function.
  • Creates and independently manages summaries, presentations, statistics, and any other required documentation to effectively report to the Board or regulators on the status of AML/ATF compliance within the Bank.
  • Proactively monitors and analyzes emerging and new AML/ATF legislation and compliance related issues, developments, trends and risks to the Bank.
  • High Risk Program/ De-marketing Program
  • Manages the categorization and monitoring of domestic PEPs and foreign PEPs.
  • Ensures robust monitoring process in place for high-risk clients and provides updates to the Director where required.
  • Manages program for high-risk customers and de-marketed customers.
  • General
  • Acts as a key stakeholder for AML in IT projects, product developments and other technology upgrades.
  • Builds and sustains a team that is capable of monitoring ML/TF risks across the Bank, delivering and maintaining the performance required for the department, including coaching and the creation and implementation of training and development plans.
  • 7-10 years’ proven Canadian experience gained through work experience in the financial services industry, including experience in AML/ATF systems and controls.
  • Direct exposure in managing AML/ATF and sanction regulatory compliance, risk management disciplines and best practices.
  • Subject matter expertise of AML/ATF legislation, related regulations and guidelines particularly as related to sanctions, high risk jurisdictions and PEPs.
  • Lending and retail banking experience considered an asset.
  • Excellent analytical, risk assessment and research skills.
  • Strong time management skills.
  • Proficient knowledge of Microsoft Office (Word, Excel and PowerPoint) including v-lookups, pivot tables, macros, etc.
  • Proficient knowledge of SQL, Power BI and Tableau.
  • Proficient knowledge of internet/web navigation.
  • Knowledge of French an asset.

What we offer [For full-time permanent roles]

Competitive discretionary bonus

Market leading RRSP match program

Medical, dental, vision, life, and disability benefits

Employee Share Purchase Plan

Maternity/Parental top-up while you care for your little one

Generous vacation policy and personal days

Virtual events to connect with your fellow colleagues

Annual professional development allowance and a comprehensive Career Development program

A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

Equitable Bank is deeply committed to inclusion.

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