Counsel, Personal Banking (12 Month Contract)

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. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll 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™, 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
Under the general direction of the Senior Counsel, Personal Banking, the successful candidate will work independently within the Legal Department, providing a wide range of services to the business units, including advising on new product introductions and corporate initiatives, negotiating third party contracts, and assisting with customer and regulatory issues.
The successful candidate will be involved in handling a significant work load, inclusive of inquiries and assignments from different departments, as well as on legal matters arising from various statutory and regulatory changes.
Incumbent will preserve the Bank’s reputation for integrity and work with the departments to protect the organization from sanctions with policies and procedures that meet regulatory requirements. The department strives to maintain cooperative relationships with all internal departments, governmental policy makers, and regulatory and self-regulatory agencies that govern the Bank’s businesses.
The Work

• Research legal issues of substantial complexity, as well as federal and provincial legislation to evaluate implications on the Bank – primarily as it relates to the Bank’s retail product offering (deposits (GICs, HISAs, etc.), payments, BIN sponsorship, mortgages, lines of credit, etc.)
• Manage and facilitate the negotiation and legal review of commercial agreements with key service providers and ensuring internal compliance with procurement procedures
• Provide ‘sign off’ on behalf of Legal Department for certain projects
• Interact with various departments within the Bank in connection with advice and legal documentary requirements
• Advise on creative solutions to legal and regulatory requirements, where required to advance the goals and mandates of the business units
• Help manage the Bank’s overall legal risk position by ensuring that contracts reflect best practice and legal requirements
• Prepare, review and negotiate company contracts, requests for proposals and other legal documentation
• Work effectively with external counsel, as needed, to provide valued legal services to the Bank in a cost-controlled manner
• Draft and negotiate key legal documents
• Provide timely and accurate responses to questions from various departments to facilitate transactions within short timeframes
• Review and advise on developing legal trends and their implications on the Bank and recommend courses of action in the best interest of the Bank
• Provide legal analysis and advice on complex issues
• Provide legal support to Corporate Development relating to product updates and new initiatives
• Contribute to achievement of corporate goals by ensuring compliance with legal and regulatory requirements
• Provide legal support to the following business units: Single Family Residential, Digital Banking, Payments and Analytics, CSV Lines of Credit, Deposit Services, Marketing, Fraud, Customer Experience, Small Business Banking
• Draft documentation, and amend existing documentation, to support changes in processes and/or enhancements by business managers
• Interpret and ensure compliance with legal requirements and internal policies and procedures and review, revise and advise on internal policies and procedures, as required
• 2. 40% Corporate Transactions/Corporate Initiatives:
• Develop precedents for business initiatives to streamline internal processes and minimize reliance on external counsel
• Provide pragmatic and timely legal advice on a variety of day-to-day issues
• Ensure contracts contain requisite protections and meet regulatory requirements
• Identify the importance and urgency of issues, and evaluate the legal risks the Bank is exposed to in order to permit these risks to be brought forward to management and reflected in the Bank’s strategic and tactical plans
• Stay abreast of changes that impact the business, including with regard to: (i) federal and provincial legislation, (ii) case law, (iii) public company developments (TSX staff notices/amendments, corporate governance commentary/recommendations), (iv) CBA initiatives, and (v) other regulatory developments
• Support business units in achieving targets relating to new corporate initiatives
• Review and advise on consumer facing and B2B marketing communications
• Review, draft and comment on documentation and processes relating to corporate transactions/initiatives
• Conduct legal research and undertake special projects as required
• Advise on legal requirements applicable to new products and actively participate in the development of new products to ensure legal soundness with a sensitivity to the needs of the business
• Assist in the investigation and resolution of internal audit findings
• 1. 60% General Legal Advice/Support:
• Reduce expense of outsourcing legal work
• Draft updates, amendments and new agreements/documents as they relate to the Bank’s customer-facing documents.
• Assist in the review and preparation of public company disclosures

Let's Talk About You!

• Familiarity with the relevant regulatory bodies (e.g., OSFI, FCAC, CDIC, FINTRAC, OSC)
• Ability to collaborate with all internal and external groups
• Graduate of a recognized law school (LLB or JD)
• Professional and courteous manner
• Highly organized and autonomous
• Strong knowledge of financial services/banking law
• Excellent interpersonal and communication skills both written and oral
• Called to the Ontario Bar/Member in good standing of the Law Society of Upper Canada
• Proficient computer skills
• Proficiency in French would be an asset
• Team player
• Problem solving capability and critical thinking
• Discretion with confidential issues and material
• Strong prioritization skills
• Proactive, willing to take initiative to effect improvements
• Degree from recognized Canadian University
• Master’s level education (MBA or LLM for example) would be an asset
• Working knowledge of consumer provisions and other legislation impacting the regulatory landscape
• 5+ years of post-call experience

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, personal days and even a moving day
🖥 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
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s 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’s 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’t wait to get to know you!