Senior Manager, Fraud Risk Management

EQ Bank | Equitable Bank; Toronto; Hybrid; CAD 100,000 - 130,000; Full time

Job summary

EQ Bank is seeking a Senior Manager Fraud Risk Management to enhance fraud risk management practices. This role involves collaborating with business units and managing fraud risk oversight, supported by a background in finance or economics. Join a team dedicated to innovative banking solutions with a hybrid working model.

Benefits

Competitive discretionary bonus

Market-leading RRSP match program

Medical, dental, vision, life, and disability benefits

Employee Share Purchase Plan

Maternity/Parental top-up benefits

Generous vacation policy and personal days

Annual professional development allowance

Qualifications

• 5-7 years of experience in fraud risk and/or operational risk oversight.
• Ability to lead and motivate, including managing one direct report.
• Certified Fraud Examiner (CFE) designation is an asset.

Responsibilities

• Lead fraud risk monitoring and testing activities.
• Develop and maintain policies for fraud risk management.
• Collaborate with units to strengthen controls against fraud risk.

Skills

Analytical skills

Problem-solving skills

Communication skills

Organizational skills

Education

Undergraduate degree in finance, economics, business administration, or commerce

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 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 Senior Manager Fraud Risk Management supports the development and ongoing execution of a strong fraud risk management program across Equitable Bank and provides independent oversight and effective challenge as the second line of defense to ensure the Bank operates within its established risk appetite.

The Core Responsibilities

• As a member of the Operational Risk Management team, the Senior Manager Fraud Risk Management role supports the advancement of fraud risk management practices across the Bank. A subject matter expert (SME) for fraud risk, this individual will collaborate with business units and senior stakeholders to mitigate fraud risk and align with the Bank’s risk appetite and regulatory expectations.

Fraud Risk Management and Oversight

• Lead the Bank’s second line of defence fraud risk monitoring and testing activities to ensure controls are effective and aligned with the Bank’s risk management framework.
• Develop and maintain policies, procedures, and methodologies for robust fraud risk management.
• Provide oversight to the business through fraud risk assessments, ensuring remediation/action plans are appropriately addressed, monitored, reported, and escalated as necessary.
• Collaborate with business units to strengthen controls and proactively address identified fraud risks.
• Evaluate and challenge Key Risk Indicator (KRI) reporting to validate accuracy and identify trends.
• Conduct investigations and prepare reports for operational risk events.
• Prepare and deliver comprehensive reports on fraud monitoring and testing results to senior management and stakeholders.
• Communicate findings, recommendations, and action plans to ensure resolution of identified issues.
• Maintain detailed documentation and work papers to support testing activities and findings.

Business Advisory

• Serve as a trusted advisor to the business on fraud risk controls and emerging threats.
• Assist with operational risk training programs and awareness initiatives.

Risk Reporting

• Support regularly scheduled and ad-hoc risk reporting and analytics to inform senior management reporting.

Qualifications

• Undergraduate degree in finance, economics, business administration, or commerce.
• 5-7 years of experience in a fraud risk and/or operational risk oversight role in a financial institution.
• Ability to lead and motivate, including managing one direct report.
• Certified Fraud Examiner (CFE) designation and/or Risk Management certification such as Canadian Risk Management (CRM) is an asset.
• Basic knowledge of risk management, compliance, and corporate governance.
• Strong analytical, quantitative, and problem-solving skills with keen attention to detail.
• Excellent written and verbal communication skills, including meeting facilitation and presentation abilities.
• Good organizational, project, and time management skills to handle multiple projects with competing priorities.
• Experience with audit or sampling techniques and understanding of regulatory/legal requirements of financial institutions.
• Developing knowledge of the financial industry, risk management practices, and regulatory/policy changes.

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 benefits
• Generous vacation policy and personal days
• Virtual events to connect colleagues
• Annual professional development allowance and career development programs
• A fulfilling opportunity to join one of the top FinTechs and help create a new banking experience

The incumbent will work in a hybrid model, with in-office time at 2200-25 Ontario Street, Toronto, ON.

Equitable Bank is committed to inclusion. We support diverse perspectives and provide accommodations during the recruitment process. All candidates must pass a criminal background and credit check. Only leading candidates whose skills match the role will be contacted.

We look forward to meeting you!