Manager, RCM Monitoring & Testing

EQ Bank | Equitable Bank; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading financial institution in Toronto is seeking a Compliance Officer to oversee the Regulatory Compliance Program. The ideal candidate will have extensive knowledge of compliance regulations and a strong background in testing and monitoring controls. The role offers a competitive compensation package along with benefits aimed at fostering a diverse and inclusive workplace.

Benefits

Competitive discretionary bonus

Market leading RRSP match program

Comprehensive medical benefits

Generous vacation policy

Qualifications

• Minimum of 5 years work-related experience in a federally regulated financial institution.
• Working knowledge of compliance policies and procedures.
• Strong judgment and commitment to regulatory compliance management.

Responsibilities

• Conduct regular testing and monitoring routines to assess compliance controls.
• Prepare detailed reports on testing findings and recommendations.
• Track and report on compliance metrics.

Skills

Compliance testing

Excellent communication skills

Regulatory knowledge

Problem-solving skills

Organizational skills

Education

Undergraduate or graduate degree in business, finance, or related field

Tools

Microsoft Office

Job description

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

This position plays a crucial role in identifying, assessing, managing, monitoring, and reporting on the Bank’s Regulatory Compliance Program on an enterprise-wide basis. The focus is on ensuring alignment with OSFI E-13 guidance. The role is primarily responsible for conducting monitoring and testing activities on controls related to the Bank Act, Anti-Money Laundering/Anti-Terrorist Financing, Privacy, Consumer Provisions, Whistleblower, FATCA, and CASL.

Monitoring and Testing

• Conduct regular testing and monitoring routines to assess the effectiveness of compliance controls and identify potential areas of non-compliance within prescribed timelines.
• Analyze data from various sources to identify trends, patterns, and potential risks related to compliance.
• Assist in the development and maintenance of compliance testing and monitoring procedures and protocols.
• Provide support and guidance to the Compliance team and business units on compliance-related matters, including issues management.
• Participate in compliance-related projects and initiatives as required.

Reporting

• Prepare detailed reports on testing and monitoring findings, including recommendations for corrective actions and improvements.
• Support the Director, Regulatory Compliance with drafting Board and Management reporting related to issues management and compliance testing results.
• Report to the Director, Regulatory Compliance on the adherence to, and adequacy and effectiveness of controls over regulatory risk. Ensure that reports provide thorough and concise information for management, as necessary.
• Collect, analyze, and report on relevant metrics, e.g., RCM gaps and Internal Audit findings. Track and report on related gaps and status.

Let's Talk About You!

• Previous experience in Compliance testing or Audit.
• Preferably an undergraduate or graduate degree in business, finance, law, or related field/professional certification or minimum of 5 years work-related experience in a federally regulated financial institution.
• Working knowledge of all lines of the business and functional departments within a bank.
• Specialized knowledge and experience should include regulatory compliance, policies and procedures development, risk management disciplines, and best practices.
• Knowledge of regulatory legislation including but not limited to the Bank Act, Proceeds of Crime, Privacy, federal consumer protection laws, regulations, and best practices.
• Excellent listening, written, and verbal communication skills to influence a wide range of internal audiences and interact with all levels of management.
• Strong judgment, a practical approach, and commitment to achieving excellence in regulatory compliance management.
• Ability to develop and maintain strong relationships with internal and external contacts.
• Effective problem-solving capabilities.
• Excellent organizational skills and the ability to work independently, perform under pressure within tight time constraints.
• Working knowledge of Microsoft Office (Word, Excel, and PowerPoint).

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 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 honor and celebrate everyone’s diverse experiences and perspectives. We support and encourage our staff to grow not just in their career path, but personally as well.

We are committed 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!