Administrator, Registered Plans Deposit Operations
Saskatoon / Toronto
CB - RESP Administration – CB - RESP Administration /
Full Time /
Hybrid
Join a Challenger
Being a traditional bank just isn’t our thing, so we challenge ourselves to get creative in providing innovative banking solutions for Canadians.
How do we get there? With a talented team of inquisitive and agile challengers that break through the status quo. So, if you’re passionate about redefining the future of banking—while having fun—this could be your next big opportunity.
Our company continues to grow, and today 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 Administrator is responsible for a variety of functions within the Deposit Operations group that include Compliance review and assessment, problem resolution, customer, credit union and broker communication, data input and quality assurance.
The Core Responsibilities!
- 35% - Documentation Verification and Processing:
- Ensure all required documentation received from Concentra Trust, account officers, client, credit union or broker has been received in good order.
- Input details accurately into the banking system.
- Ensure verification/peer review is performed accurately and on a timely basis
- Processing may include:
- Applications/new deposits or subsequent contributions
- Search the banking system for existing CIF record or create a new CIF record.
- For new applications/deposits, subsequent contributions or transfers-in, confirm receipt of the funds and the accuracy of the investment terms such as interest rate, term, issue and maturity dates etc., resolving discrepancies or recommending exceptions where and when appropriate.
- Redemption requests
- Maturity/renewal instructions
- Transfer requests
- Estate transfers, re-registrations and/or redemptions, tax slip requirements
- Pre-Authorized Deposits (PAD's)
- Broker commission reports and payments
- CANNEX electronic purchase and reconciliation files
- Foreign exchange transactions
- Interest rate changes
- Cash management services to full service commercial clients
- Regular scheduled reporting tasks
- CIF maintenance
- Promptly responding to client and agent inquiries received via telephone, e-mail, portal or fax
- Providing quality Customer Service
- Ensure customer satisfaction; must be well versed in product knowledge and features as well as policies and procedures.
- Be an educational resource for clients and credit union on EQB's regulatory, policy and product requirements.
- Resolving any issues that may arise and escalating as needed.
- Responsible to review investment documentation to ensure compliance with our obligations under:
- The Proceeds of Crime (Money Laundering) and Terrorist Financing Act & Regulations
- Deposit Type Instruments Regulations (DTIR)
- Pension and Registered Plan (RESP, RDSP, RRSP, RRIF, TFSA and FHSA) Regulations
- Familiar with all our compliance obligations to identify deficiencies & resolve them prior to accepting any new deposit and escalating matters when required. These include individual application specific criteria.
- Ensure deposit accounts are administered in accordance with legislation and internal policies and procedures while adhering to service standards for accuracy and timeliness.
- Ensuring all keying is processed accurately and is free of errors or deficiencies.
- All regulatory requirements are met, and documentation has been correctly scanned and recorded.
- Documentation that is not compliant must be followed up with broker, credit union agent or clients in a prompt and timely manner.
- Keep detailed records of non-compliant documentation and report if necessary.
- Transfers/re-registrations are also reviewed for accuracy and completeness.
- On a daily or periodic basis as required, administrators must balance and reconcile proof suspense or cash in CUC, identifying outstanding items that need to be followed up with the reconciliation department.
- Any unbalanced items must be thoroughly investigated by referring to documentation or instructions received.
- Communicate with the reconciliation department regarding any reconciling items.
25% - Customer Service:
20% - Compliance
10% - Quality Assurance:
10% Reporting and Reconciliation:
Let's Talk About You!
- Minimum 2 years’ experience in financial industry
- Post-secondary education
- Office Administration experience
- Strong interpersonal and communication skills – written and oral
- Superior attention to detail and strong organizational skills
- Self-motivated with the ability to work with little or no supervision
- Ability to work independently as well as within in a group/team environment
- Strong Customer Service orientation
- Ability to easily build rapport and foster positive relationships with both customers and team members
- Strong active listening skills with the ability to engage with the customer
- Professional and courteous telephone manner
- Able to perform well in a high volume, high intensity environment and multi-task
- Familiarity with MS Office (MS Outlook, MS Word & MS Excel)
- knowledge of company policies, procedures and regulatory obligations related to depositing products.
- Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment.
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. 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!
