Associate Director, AML Enhanced Due Diligence

at  EQ Bank Equitable Bank

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 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 CORE RESPONSIBILITIES!

• AML/ATF Program
• Responsible for the implementation, oversight and management of an effective AML/ATF program with respect to enhanced due diligence and screening activities.
• Proactively manages the AML department’s client name screening program, and monitoring routines to ensure adherence to established AML/ATF policies and procedures.
• Continually assesses AML/ATF related activities and the effectiveness of department-level procedures and makes recommendations for improvement to the Senior Director, AML.
• Monitors and analyzes compliance related issues, trends and risks to the Bank and provides sound recommendations for action to the Senior Director, AML.
• Accountable for initiating and leading initiatives to streamline processes and introduce new efficiencies to AML/ATF related activities and leveraging technology and automation to achieve results.
• Ensures staff are trained on due diligence techniques and provides ongoing training to address gap or new developments

Reporting

• Responsible for development of risk and operational reporting to the Senior Director, Deputy CAMLO and Senior Management related to the EDD function.
• 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.

• Proactively monitors and analyzes emerging and new AML/ATF legislation and compliance related issues, developments, trends and risks to the Bank.

High Risk Program/ De-marketing Program

• Manages the categorization and monitoring of domestic PEPs and foreign PEPs.
• Ensures robust monitoring process in place for high-risk clients and provides updates to the Director where required.

• Manages program for high-risk customers and de-marketed customers.

General

• Acts as a key stakeholder for AML in IT projects, product developments and other technology upgrades.
• Leads the remediation of any audit findings from regulators or Internal Audit department related to the EDD function.
• Leads enhanced due diligence teams 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 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.

WHAT WE OFFER [FOR FULL-TIME PERMANENT ROLES]

\uD83D\uDCB0 Competitive discretionary bonus
✨ Market leading RRSP match program
\uD83E\uDE7A Medical, dental, vision, life, and disability benefits
\uD83D\uDCDD Employee Share Purchase Plan
\uD83D\uDC76\uD83C\uDFFD Maternity/Parental top-up while you care for your little one
\uD83C\uDFDD Generous vacation policy and personal days
\uD83D\uDDA5 Virtual events to connect with your fellow colleagues
\uD83C\uDF93 Annual professional development allowance and a comprehensive Career Development program
\uD83D\uDC9B 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