Associate Director, AML Governance (18-month contract)
Toronto
Compliance – Compliance /
CON-Long /
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 Associate Director, AML Governance, is responsible for the development and execution of the AML/ATF program including coordination and management of regulatory exams, ongoing development of AML policies and procedures, AML advisory services and quality assurance programs. This position supports the Senior Director and Deputy CAMLO in the on-going management and the oversight of Equitable Bank’s enterprise-wide AML/ATF program.
The Associate Director, AML Governance is responsible for ensuring AML/ATF program is tailored to manage the risks of Equitable Bank and its subsidiaries and supports a comprehensive and effective AML/ATF regime within the Bank. Further, the Associate Director supports Senior Management and employees to comply with legislation and regulations, and liaises with FINTRAC on regulatory exams and other ad hoc requests. The environment is fast-paced and requires the effective time management of multiple projects, initiatives and risks.
Governance
- Develop independent oversight program to ensure AML/ATF internal controls and procedures are operating effectively.
- Oversee the development and recommendation of strategies to improve or update existing AML/ATF controls or create new controls to ensure the effective management of ML/TF risk.
- Develop materials based on data-driven insights to effectively report on the status of AML/ATF Compliance to senior management, the Board and regulators.
- Leads the remediation of findings from Internal Audit or the regulator.
- Develop, maintain and implementation programs for the identification, quantification and management of AML/ATF regulatory compliance risk on an enterprise-wide basis.
Policies and Procedures
- Develop and maintain enterprise-wide AML/ATF related policies and programs to effectively manage ML/TF risks and comply with regulatory expectations and industry standards.
- Supports the Senior Director and Deputy CAMLO in the implementation, oversight and management of an effective AML/ATF program, and the reporting of same to Senior Management and/or the Board.
- 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.
- Escalates significant policy and procedural gaps and issues across all lines of business and provides recommendation for remediation.
- Supports Senior Management to evaluate new and changed product, 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.
Advisory and Training
- As subject matter expert, build and maintain good working relationships with senior business unit staff to ensure AML/ATF risks and concerns are understood and appropriate guidance is provided
- Act as a point of escalation for business and AML operations team 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.
- Leads advisory guidance, regulatory interpretation, training and other assistance on appropriate standards and business practices to support the business lines in managing their AML/ATF activities.
- 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.
- Remains up to date with sanctions, FATF publications, and general developments in the AML/ATF landscape.
- Participates in various internal/external workshops/seminars/conferences to remain current in the AML/ATF landscape (e.g., maintain CAMS certification).
- Attends and participates in CBA meetings as delegated and provides update to Director, AML on key developments.
- 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.
General
- Lead 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.
- 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 development plans.
- Promotes a positive work environment that fosters collaboration, innovation, and synergies.
- Empowers staff with resources and tools to be successful in the role.
- Monitors regulatory and internal changes to recommend updates in monitoring and testing activities.
Let's Talk About You!
- A university degree, preferably in Business, Law or Accounting
- 7+ years’ proven Canadian experience gained through work experience in the financial services industry, including experience in AML/ATF systems and controls
- CAMS certified or to be certified within 12 months of start date
- Managerial experience for a minimum of 4 years
- Demonstrated leadership skills with the ability to set strong examples for staff
- 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.
- Lending or retail banking experience considered an asset
- Excellent analytical, risk assessment and research skills
- Ability to successfully handle multiple competing priorities
- Strong time management 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
- Proficient knowledge of Microsoft Office (Word, Excel and PowerPoint) and 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
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 2200-25 Ontario Street, 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!
