Manager, AML 1st Line Operations

EQ Bank | Equitable Bank; Toronto; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

Join a leading FinTech as a Manager in AML 1st Line Operations, where you'll oversee compliance with AML/ATF regulations while mentoring a dynamic team. This role requires a strong background in financial services and a commitment to fostering an inclusive work environment.

Benefits

Competitive discretionary bonus

Market leading RRSP match program

Medical, dental, vision, life, and disability benefits

Employee Share Purchase Plan

Generous vacation policy and personal days

Annual professional development allowance

Qualifications

• 5+ years’ experience in financial services, particularly in AML/ATF systems.
• CAMS certification or to be obtained within 12 months.
• Managerial experience for a minimum of 2 years.

Responsibilities

• Lead the AML 1st Line team and manage compliance with AML/ATF regulations.
• Develop and deliver AML training programs.
• Monitor and assess AML/ATF policies and procedures.

Skills

Leadership

Analytical skills

Risk assessment

Communication

Time management

Education

University degree in Business, Law or Accounting

Tools

Microsoft Office

Job description

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 acrossCanadathrough Equitable Bank,Canada'sChallenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions acrossCanadathat serve more than six million members. Together we have over$125 billionin 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 Manager, AML 1st Line Operations plays a leadership role in the AML 1st Line, Digital Banking department while also contributing specific subject matter expertise on Anti-Money Laundering, Anti-Terrorist Financing (AML/ATF), Sanctions, and Compliance related matters. This position primarily assists the Senior Director, AML 1st Line, Digital Bankingin the on-going management and the oversight of Digital Banking’s AML/ATF program.

This position assists the Senior Director, AML 1st Line, Digital Banking in ensuring AML/ATF related policy and procedures are maintained and current to support a comprehensive and effective AML/ATF program for Digital Banking, assists employees to comply with legislation and regulations, conducts monitoring and testing of AML controls for Digital Banking and helps to manage reputational and other operational risks. The environment is often fast-paced and requires the effective time management of multiple tasks and projects.

Advisory and Training

• Acts as a point of escalation for AML 1st Line for AML/ATF related inquiries relating to regulatory interpretation or the Bank’s AML/ATF program while ensuring compliance with applicable laws, regulations, guidelines, and established procedures.
• Support the Senior Director in providing guidance, regulatory interpretation, training and other assistance with appropriate standards and business practices to support Digital Banking in managing its AML/ATF activities.
• Supports the Senior Director in the development and implementation of procedures and training for the identification, quantification and management of regulatory compliance risk for Digital Banking.
• Recommends strategies to improve or update existing AML/ATF controls or create new controls to ensure the effective management of ML/TF risk.
• Creates and independently manages summaries, presentations, statistics, and any other required documentation to effectively report to the Senior Director on the status of AML/ATF program within Digital Banking.
• Proactively monitors and analyzes updates from the AML 2nd Line and provides sound recommendations for action to the Senior Director.
• Provides feedback on the Bank’s annual AML/ATF Risk Assessment as it relates to Digital Banking.
• Proactively manages remediation of any audit findings from AML 2nd Line or Internal Audit department.
• 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).
• 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.

Policies and Procedures

• Supports the Senior Director in managing the development and maintenance of department AML/ATF related policies and programs to effectively manage ML/TF risks and comply with regulatory expectations and industry standards.
• Supports the Senior Director in the implementation, oversight and management of an effective AML/ATF program.
• Monitors regulatory and internal changes to recommend updates in policies and procedures and to provide regular updates to the Senior Director.
• Assesses and escalates to the Senior Director significant AML/ATF policy and procedural gaps and issues across Digital Banking and provides recommendations for remediation.
• Supports the Senior Director in reviewing new initiatives and changes to Digital Banking 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.
• Manages the development, amendment and continuous improvement of the AML 1st Line’s policies and procedures.

General

• Acts as mentor and role model for AML 1st Line team.
• Helps build processes for monitoring and testing ML/TF risks across Digital Banking, delivering and maintaining the performance required for the department, including coaching and the creation and implementation of training.
• Promotes a positive work environment that fosters collaboration, innovation, and synergies.
• Empowers staff/team 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
• 5+ 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 2 years
• Demonstrated leadership skills with the ability to set strong examples for staff
• Direct exposure in managing AML/ATF, sanctions, 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!