Manager, AML

EQ Bank | Canada's Challenger Bank; Toronto; On-site; CAD 120,000 - 180,000; Full time

Benefits offered by this job

Competitive discretionary bonus

Market leading RRSP match program

Medical, dental, vision, life, and dis

Employee Share Purchase Plan

Maternity/Parental top-up

Generous vacation policy and personal 

Virtual events to connect with your f

Professional development and Career

Job summary

EQ Bank is seeking a Manager, AML FIU to lead the AML program, overseeing transaction monitoring, name-screening, alert adjudication, and escalation. The role focuses on regulatory compliance and effective risk management within EQ Bank's AML program.

You will manage analysts, coordinate with outsourced partners, and drive SOPs and performance frameworks. The position is hybrid working from EQ Bank’s Toronto office, with collaboration across cross-functional teams to strengthen compliance and

Qualifications

• Five to seven years of AML/ATF experience at a Canadian Financial Institution.
• CAMS certification preferred or enrolled to complete within 6 months.
• Strong understanding of PCMLTFR FINTRAC Guidelines.
• Experience in investigations, name-screening, high-risk customer management and Enhanced Due Diligence.
• Previous people-management experience.

Responsibilities

• Monitor AML/ATF program to ensure compliance with legislative and regulatory requirements.
• Provide guidance on adjudication of alerts from transaction monitoring for effectiveness.
• Advise on adjudication of name-screening alerts against PEPs, sanctions and negative news.
• Manage escalation, quality reviews, and determine reasonable grounds to suspect thresholds.
• Develop and maintain Standard Operating Procedures and job aids for AML operations.
• Develop a Performance Management Framework for quality and timeliness of investigators.
• Manage relationships with outsourced partners and coordinate vendor risk activities.
• Support regulatory governance by reviewing legislation and adjusting processes.
• Keep CAMLO and AML team informed of issues, delays and non-compliance incidents.
• Participate in new product/technology initiatives; supervise analysts in AML FIU.
• Collaborate across initiatives and shift priorities as needed.

Job description

Join a Challenger At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.

We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.

What's kept us moving?

The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.

If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity. We can’t wait to get to know you!

The Work

The Manager, AML FIU is responsible for the implementation of appropriate Anti‑Money Laundering and Anti‑Terrorism Financing (collectively referred to as “AML”) compliance policies and procedures that meet and/or exceed regulatory requirements and industry standards within a dedicated area of the Bank’s AML Program. The Manager, AML is primarily responsible for overseeing the day-to-day operations of the AML program within key areas such as transaction monitoring, name‑screening, reporting of Suspicious Transactions, management of outsourced operational activities and escalations.

What You'll Do!

• Monitor the Bank’s AML/ATF program to ensure compliance with all Legislative and Regulatory requirements.
• Provide support and guidance on adjudication of alerts generated as a result of transaction monitoring of PC Bank’s portfolio on effectiveness of review and relevant money‑laundering/terrorism‑financing indicators.
• Provide support and guidance on adjudication of alerts generated as a result of name‑screening of PC Bank’s portfolio against PEPs, Sanctions and Negative News.
• Manage the escalation process which includes Quality Reviews of investigator notes, determination of suspicious activity and Reasonable Grounds to Suspect thresholds, recommendations to exit the relationship with the customer and other risk considerations.
• Develop and maintain internal Standard Operating Procedures and Job Aids related to operational activities of the AML Program.
• Develop and maintain a Performance Management Framework to manage quality, timeliness and effectiveness of investigators performing daily reviews of alerts and accounts.
• Manage the relationship with outsourced partners, including identifying opportunities for operational effectiveness, monitoring quality results, coordinating of audits and examinations and vendor risk assessments.
• Support the Regulatory Governance framework by periodically reviewing governing legislation and regulations and recommend processes, procedures and oversight tests are amended to mitigate risks as it pertains to AML FIU and operations.
• Keep the CAMLO and the AML team appraised of any issues, system delays, vendor concerns and non‑compliance incidents as part of ongoing conversations.
• Participate in new product and technologies implementation initiatives and projects, as required.
• Directly manage the performance of the analysts within the AML FIU, including supporting of goal and target setting, quality monitoring, career development and learning and training opportunities.
• Collaborate with the AML team on various initiatives that may overlap throughout various projects and processes or when support is needed due to shifting priorities.
• Additional accountabilities as required.

What You Bring!

• Minimum undergraduate degree, preferably in Business, Commerce or equivalent.
• Five to seven years of AML/ATF experience at a Canadian Financial Institution.
• CAMS certified (preferred) or enrolled to be completed within 6 months.
• Must have a Canadian compliance (AML/ATF) background and have a working understanding of the PCMLTFR FINTRAC Guidelines.
• Must have experience in investigations, name‑screening, high‑risk customer management and Enhanced Due Diligence processes in a Canadian Banking Institution.
• Must have experience in quality reviews of AML alerts/cases. An understanding of Financial Services is required, experience with credit cards would be an asset.
• Previous people‑managing experience is required.
• Previous experience working with outsourced partners or vendor management is an asset.
• The ability to assist in interpreting legislation and changes in regulatory requirements and to assist business partners in understanding and applying the required changes.
• Strong communication and interpersonal skills with the ability to foster and develop relationships both internally and externally with regulatory stakeholders.
• A good team player who is also able to work independently in a fast‑paced environment.
• PC skills including MS Office (Word, Excel, Access, PowerPoint) and internet navigation; experience with various name‑screening/transaction monitoring/core banking systems is an asset.
• Motivation and willingness to learn new computer programs/applications as required.
• Strong organization skills.
• Ability to work independently with minimal supervision and ability to work in an agile environment, namely pivot and prioritize work in accordance with department priorities and risks.

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
• Professional development and 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 EQ Bank’s additional office space located at 2200-25 Ontario Street, Toronto, ON.

Equity, Diversity & Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives. We’re equally committed to supporting your growth, both professionally and personally.

We provide a barrier‑free recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI‑enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.

EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.

To learn more, visit eqb.investorroom.com and eqbank.ca.