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Director, AML

Equitable Bank, Toronto, Ontario, Canada Req #705
Friday, May 3, 2019

Canada's Challenger Bank™

If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.

Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $31 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 employees across the country.

Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.

Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.

Job Title:                             Director, AML

Department:                      Compliance

Reports to:                         V.P., Chief Compliance Officer & Chief Anti-Money Laundering Officer

Purpose of the Job


The Director, AML, plays a leadership role in the Compliance department and is responsible for promoting a culture of compliance and for assisting in the implementation and oversight of the effectiveness of the enterprise-wide Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) program at Equitable Bank (including EQ Bank and Equitable Trust, collectively “Equitable”).


The Director, AML, reports to and assists the Chief Compliance Officer & Chief AML Officer in managing and maintaining policies and programs that support a comprehensive and effective AML/ATF regime within Equitable.


The role will also provide the opportunity to apply critical thinking, analytical and problem solving skills and be relied upon as a key advisor to the first line of defense by providing subject matter expertise and by delivering strategic advice. We are seeking a driven team player who is looking to join a fast-paced, high growth, energetic and forward-thinking Compliance team that is focused on the enablement of Equitable’s business units to meet their business objectives while operating in accordance with applicable regulatory requirements.



Main Activities:


  • Oversee and maintain the general operation of Equitable's AML/ATF Compliance Program and its related activities, including establishing effective and efficient controls to manage money laundering and terrorist financing (ML/TF) risks throughout Equitable.
  • Provide strong leadership, guidance and direction to a team of AML Managers and Compliance Officers.
  • Be a strategic partner to all business and functional units providing relevant and updated guidance and advice on all AML/ATF matters including on time-sensitive transactions.
  • Monitor changes in AML/ATF legislation affecting financial institutions and participate in industry related initiatives to remain abreast of all existing and new laws, and to influence government policy, where appropriate. Monitor emerging issues, developments, trends and risks to Equitable and provide sound and risk-based recommendations for action.
  • Liaise with industry groups, regulators, law enforcement and internal/external auditors on all AML/ATF related matters.
  • Evaluate significant new initiatives, products and changes to products, policies, processes and systems to determine ML/TF risks and ensure that they have been identified appropriately and adequately addressed.
  • Develop and update AML/ATF policies and procedures including the monitoring and testing program as it relates to adherence to policies and procedures.
  • Develop and monitor metrics and triggers to identify potential AML/ATF concerns or negative trends; oversee investigations and take appropriate actions to mitigate losses and comply with regulatory reporting requirements.
  • Review escalated suspicious transactions or other unusual situations that may be indicative of ML/TF and provide guidance on actions to be taken.
  • Develop, maintain, track and provide ongoing AML/ATF training programs for Senior Management, employees, agents and other persons authorized to act on Equitable's behalf.
  • Provide reports to senior management and the Board of Directors, as required, on the status of compliance with AML/ATF regulatory requirements.
  • As a member of Compliance leadership team, occasionally perform functions outside the normal scope of the job when needed to support the mandate and objectives of the Chief Compliance Officer.


Knowledge/Skill Requirements:


  • 10+ years’ Canadian AML/ATF experience gained through work experience in the financial services industry or a regulator of the financial services industry, preferably in a Compliance, Legal or Audit role.
  • University education - preferably in law, finance or relevant advanced degree. Current AML/ATF certification (e.g., CAMS) is an asset.
  • Direct exposure in managing AML/ATF regulatory compliance, risk management disciplines and best practices, including five (5) or more years of senior level experience in an AML/ATF compliance role gained at a financial institution.
  • In-depth knowledge of AML/ATF governing legislation, related regulations and guidelines and comprehensive understanding of ML/TF issues and current developments/techniques particularly as it relates to online, digital platforms and automation.
  • Experience working directly with regulators (OSFI, FINTRAC) during regulatory reviews/audits is an asset.
  • Ability to translate regulatory requirements into project requirements and to communicate the facets of AML/ATF legislation and guidelines to various stakeholders.
  • An excellent understanding of risk assessment methodology, and the ability to effectively understand and translate legislation and regulations into business impacts, compliance elements and regulatory risks.
  • Experience in drafting policies and procedures including training.
  • Proven people management and leadership skills and ability to lead directly and by influence.
  • Well organized, detail oriented self-starter, comfortable functioning in a complex environment and able to collaborate with various internal and external stakeholders.
  • Excellent interpersonal skills. Must be able to establish and maintain rapport with customers, internal and external partners, regulators, auditors, management and employees.
  • Excellent written and verbal communication skills with ability to communicate effectively to varied audiences in particular as it relates to regulatory requirements and their impacts.
  • Strong analytical and problem-solving skills with demonstrated ability to make appropriate and effective decisions under pressure.


Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates.  Accommodations are available on request for candidates taking part in all aspects of the selection process. 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.

Other details

  • Pay Type Salary
  • Equitable Bank, Toronto, Ontario, Canada