Senior Manager, Aml Governance

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 Manager, AML Governance, plays a leadership role in the Compliance department while also contributing specific subject matter expertise on Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) and Compliance related matters. This position primarily assists the Deputy CAMLO in the on-going management and the oversight of Equitable Bank’s enterprise-wide AML/ATF program.

This position assists the Deputy CAMLO in ensuring AML/ATF related policy and procedures are maintained and current to support a comprehensive and effective Regulatory Compliance Management regime within the Bank, assists Senior Management and employees to comply with legislation and regulations, and to manage reputational and other operational risks. The environment is often fast-paced and requires the effective time management of multiple tasks and projects.

Core parts of the role would be:

• Manages the development, amendment and continuous improvement of the Compliance department’s policies and procedures.
• Promotes a positive work environment that fosters collaboration, innovation, and synergies
• Attends and participates in CBA meetings as delegated and provides update to Director, AML on key developments.
• Governance
• Monitors regulatory and internal changes to recommend updates in monitoring and testing activities.
• Supports the Director, AML in the implementation, oversight and management of an effective AML/ATF program, and the reporting of same to Senior Management and/or the Board
• Provides arm’s length oversight with respect to AML Operations’ monitoring and testing activities to ensure internal controls and procedures are operating effectively.
• Remains up to date with sanctions, FATF publications, and general developments in the AML/ATF landscape
• General
• Assesses and escalates to Director, AML significant AML/ATF policy and procedural gaps and issues across all lines of business and provides recommendation for remediation
• Empowers staff with resources and tools to be successful in the role
• Proactively monitors and analyzes emerging and new AML/ATF legislation and compliance related issues, developments, trends and risks to the Bank and provides sound recommendations for action to the Director, AML
• Supports the Director, AML in reviewing significant new initiatives and changes to products and services, policies, processes and systems to determine whether compliance related risks have been adequately addressed and suggests controls and procedures to ensure effectively manage risk and compliance
• Plays a leadership and advisory role in providing guidance, regulatory interpretation, training and other assistance on appropriate standards and business practices to support the business lines in managing their AML/ATF activities
• Supports the Director, AML in managing the development and maintenance of enterprise-wide AML/ATF related policies and programs to effectively manage ML/TF risks and comply with regulatory expectations and industry standards
• Act as a point of escalation for the AML Operations team and the BUs for AML/ATF related inquiries/exceptions relating to regulatory interpretation or the Bank’s AML/ATF program while ensuring compliance with applicable laws, regulations, guidelines, and established procedures
• Monitors regulatory and internal changes to recommend updates in policies and procedures enterprise wide and to provide regularly updates to Director, AML and AML department.
• Proactively manages remediation of any audit findings from regulators or Internal Audit department
• Leads a team of Compliance Officers and establishes a two-way working relationship with direct report(s) to solicit their views on the working environment, potential changes affecting their work and continuous improvement opportunities.
• Regularly develops, updates and delivers specialized AML/ATF training at enterprise and business unit level and manages the maintenance of enterprise-wide AML/ATF employee training program, assessment and certification processes to effectively manage ML/TF risks and gaps and comply with regulatory expectations and industry standards
• Participates in various internal/external workshops/seminars/conferences to remain current in the AML/ATF landscape (e.g., maintain CAMS certification).
• Builds and sustains a team that is capable of monitoring and testing 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 developmentplans
• Policies and Procedures
• 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.
• Advisory and Training
• Supports the Director, AML in the development and implementation of programs for the identification, quantification and management of regulatory compliance risk on an enterprise-wide basis
• Proactively recommends strategies to improve or update existing AML/ATF controls or create new controls to ensure the effective management of ML/TF risk.

Lets talk about you!

• Strong time management skills
• Direct exposure in managing AML/ATF and sanction regulatory compliance, risk management disciplines and best practices
• 7+ years’ proven Canadian experience gained through work experience in the financial services industry, including experience in AML/ATF systems and controls
• Demonstrated leadership skills with the ability to set strong examples for staff
• A university degree, preferably in Business, Law or Accounting
• Lending or retail banking experience considered an asset
• Managerial experience for a minimum of 4 years
• Ability to successfully handle multiple competing priorities
• CAMS certified or to be certified within 12 months of start date
• Proficient knowledge of Microsoft Office (Word, Excel and PowerPoint) and internet/web navigation
• Knowledge of French an asset
• Excellent analytical, risk assessment and research skills
• Excellent written and verbal communication skills, including strong public speaking and presentation skills, as well as the ability to develop and maintain strong relationships with internal and external contacts
• Subject matter expertise of AML/ATF legislation, related regulations and guidelines

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!