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Administrator, Deposit Services

Equitable Bank, Toronto, Ontario, Canada Req #778
Thursday, September 5, 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:             Short-Term Administrator                                                                           

Department:      Deposit Services

Reports To:         Manager Deposit Services           

Duration:             5 months


Purpose of Job


The Deposit Services Administrator is responsible for performing the day-to- day functions required in the processing of the purchases, redemptions, transfers, and maturity payments of GIC’s with a high degree of accuracy along with a high level of customer service to our clients and agents.  Ensuring we are complying with the company’s policies as well and the regulatory requirements including Anti-Money Laundering and Anti-Terrorist Financing, and Deposit Type Instrument Regulations (DTIR).


Main Activities:


PROCESSING: Responsible for daily processing of the department which include (50 %):

  • Processing GIC and TFSA applications received by reconciling the bank deposit slips with our bank statement; inputting them in to the GIC system, and printing confirmations in a timely fashion
  • Process the daily re-registrations/transfers
  • Preparing cheque runs and bulk cheque runs for GIC maturities and cashable redemptions
  • Daily filing of GIC applications, correspondence, consent forms and deposit slips
  • Daily processing of the electronic CANNEX files into the GIC system and ensuring the confirmations are sent to the agents in a timely manner
  • Preparing GIC and TFSA PAD payments bi-weekly ensuring that the TFSA internal payments and scheduled transactions balance investigating any discrepancies  
  • Prepare daily correspondence documents for our agents and clients and ensure they are sent out before the daily deadline using ICS courier
  • Preparing and sending month end reconciliation files and commission files to our various agents



QUALITY ASSURANCE: On a daily basis, all staff members must check each other’s work by closely examining the details of each GIC or TFSA application (40%).  This includes:

  • Ensuring each application is processed accurately and is free of errors
  • All AML requirements are met, including agent/rep AML training and testing completed through the RDBA
  • Each application must be compliant with the DTI regulations
  • Each client must also be assessed and given an AML risk score
  • Applications that are not compliant must be followed up with agents or clients in a reasonable amount of time
  • Keep detailed records of non compliant applications and report if necessary
  • Transfers/re-registrations are also checked for accuracy



CUSTOMER SERVICE: (10% ) Perform a high level of Customer Service by:          

  • Promptly responding to client and agent inquiries via telephone, e-mail, fax, or in person
  • Resolving any issues that may arise and escalating as needed


Knowledge/Skill Requirements:


  • Office Administration Experience
  • Strong interpersonal and communication skills – written and oral
  • Superior attention to detail
  • Strong organizational skills
  • Preferred experience in the GIC Industry
  • High School Diploma (preferred) or equivalent experience
  • Strong Customer Service orientation
  • Proficiency with MS Office (MS Outlook, MS Word & MS Excel)
  • Staff members must maintain up to date knowledge of company policies, procedures and products related to GICs, TFSAs, AML and various regulations
  • Ability to work independently as well as within in a group/team environment
  • Able to perform well in a high volume, high intensity environment
  • Ability to balance multiple priorities simultaneously


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 Hourly
  • Equitable Bank, Toronto, Ontario, Canada