Senior Director, Aml/ Deputy Camlo (14 Months 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.
The Work
The Senior Director, Deputy CAMLO, plays a leadership role in the Compliance department and is responsible for promoting a culture of compliance and for assisting in the implementation and oversight of the effectiveness of the enterprise-wide Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) program at Equitable Bank (including EQ Bank and Equitable Trust, collectively “Equitable”) that is consistent and proportional to the Bank’s sixe, nature of operations and risk profile.
The Senior Director, Deputy CAMLO, reports to and assists the Chief Compliance Officer & Chief AML Officer in managing and maintaining policies and programs that support a comprehensive and effective AML/ATF regime within Equitable.
The role will also provide the opportunity to apply critical thinking, analytical and problem solving skills and be relied upon as a key advisor to the first line of defense by providing subject matter expertise and by delivering strategic advice. The incumbent will exercise a significant degree of managerial and technical latitude in the performance of his/her duties.
Core Part Of The Role Would Be To

• Be a strategic partner to all business and functional units providing relevant and updated guidance and advice on all AML/ATF matters including on time-sensitive transactions.
• Review escalated suspicious transactions or other unusual situations that may be indicative of ML/TF and provide guidance on actions to be taken.
• Ensure a robust and integrated control environment from a risk perspective and assists business units in the development, implementation and management of risk and control strategies.
• Develop and monitor metrics and triggers to identify potential AML/ATF concerns or negative trends; oversee investigations and take appropriate actions to mitigate losses and comply with regulatory reporting requirements.
• Oversee and maintain the general operation of Equitable's AML/ATF Compliance Program and its related activities, including establishing effective and efficient controls to identify, assess, manage, mitigate and report money laundering and terrorist financing (ML/TF) risks throughout Equitable.
• Develop, maintain, track and provide ongoing AML/ATF training programs for Senior Management, employees, agents and other persons authorized to act on Equitable's behalf.
• Provide reports to senior management and the Board of Directors, as required, on the status of compliance with AML/ATF regulatory requirements, including the sufficiency and progress on actions undertaken by Senior Management to resolve material identified issues.
• Liaise with industry groups, regulators, law enforcement and internal/external auditors on all AML/ATF related matters.
• As a member of the Compliance leadership team, occasionally perform functions outside the normal scope of the job when needed to support the mandate and objectives of the Chief Compliance Officer.
• Evaluate significant new initiatives, products and changes to products, policies, processes and systems to determine ML/TF risks and ensure that they have been identified appropriately and adequately addressed.
• Provide strong leadership, guidance and direction to a team of AML Managers and Compliance Officers.
• Monitor changes in AML/ATF legislation affecting financial institutions and participate in industry related initiatives to remain abreast of all existing and new laws, and to influence government policy, where appropriate, given his/her knowledge of the Bank’s business lines and control frameworks in order to ensure relevancy and value. Monitor emerging issues, developments, trends and risks to Equitable and provide sound and risk-based recommendations for action.
• Develop and update AML/ATF policies and procedures including the monitoring and testing program as it relates to adherence to policies and procedures.
• Provide active and direct support to resolve outstanding audit and regulatory issues in a timely manner and to respond to ad hoc senior management and regulatory requests.
• Help support a robust risk and compliance culture through education of staff on compliance risk management requirements and ensure adherence to policy including reporting, gap identification and exception identification and approval.

Lets Talk about you!

• Experience in drafting policies and procedures including training.
• Excellent interpersonal skills. Must be able to establish and maintain rapport with customers, internal and external partners, regulators, auditors, management and employees.
• Proven people management and leadership skills and ability to lead directly and by influence with respect to acceptance of key findings and/recommendations related to identified issues.
• Experience working directly with regulators (OSFI, FINTRAC) during regulatory reviews/audits is an asset.
• Ability to translate regulatory requirements into project requirements and to communicate the facets of AML/ATF legislation and guidelines to various stakeholders.
• Direct exposure in managing AML/ATF regulatory compliance, risk management disciplines and best practices, including five (5) or more years of senior level experience in an AML/ATF compliance role gained at a financial institution.
• An excellent understanding of risk assessment methodology, and the ability to effectively understand and translate legislation and regulations into business impacts, compliance elements and regulatory risks.
• University education - preferably in law, finance or relevant advanced degree. Current AML/ATF certification (e.g., CAMS) is an asset.
• Strong analytical and problem-solving skills with demonstrated ability to make appropriate and effective decisions under pressure.
• Excellent written and verbal communication skills with ability to communicate effectively to varied internal as well as external (as and when instructed) audiences in particular as it relates to regulatory requirements and their impacts.
• Transfer/share knowledge of areas of expertise with other members of the Compliance team.
• 12+ years’ proven Canadian AML/ATF experience gained through work experience in the financial services industry or a regulator of the financial services industry, preferably in a Compliance, Legal or Audit role.
• Continue to independently develop and maintain broad knowledge and awareness of the financial industry, risk management practices and regulatory and/or policy changes.
• Actively demonstrate mindful personal behaviour to consistently produce good, ethical outcomes.
• Well organized, detail oriented self-starter, comfortable functioning in a complex environment, managing multiple priorities within deadlines, and able to collaborate with various internal and external stakeholders.
• In-depth, expert knowledge of AML/ATF legislation, related regulations and guidelines and comprehensive understanding of ML/TF issues and current developments/techniques particularly as it relates to online, digital platforms and automation.

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!