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 800,000 customers 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 $142 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.
Purpose of the role
This is a contract role covering a maternity leave. The Administrator is responsible for a variety of functions within the Deposit Operations group that include Compliance review and assessment, problem resolution, customer, credit union and broker communication, data input and quality assurance.
35% - Documentation Verification and Processing:
- Ensure all required documentation received from Concentra Trust, account officers, client, credit union or broker has been received in good order.
- Input details accurately into the banking system.
- Ensure verification/peer review is performed accurately and on a timely basis
- Processing may include:
- Applications/new deposits or subsequent contributions
- Search the banking system for existing CIF record or create a new CIF record.
- For new applications/deposits, subsequent contributions or transfers-in, confirm receipt of the funds and the accuracy of the investment terms such as interest rate, term, issue and maturity dates etc., resolving discrepancies or recommending exceptions where and when appropriate.
- Redemption requests
- Maturity/renewal instructions
- Transfer requests
- Estate transfers, re-registrations and/or redemptions, tax slip requirements
- Pre-Authorized Deposits (PAD's)
- Broker commission reports and payments
- CANNEX electronic purchase and reconciliation files
- Foreign exchange transactions
- Interest rate changes
- Cash management services to full service commercial clients
- Regular scheduled reporting tasks
- CIF maintenance
- Promptly responding to client and agent inquiries received via telephone, e-mail, portal or fax
- Providing quality Customer Service
- Ensure customer satisfaction; must be well versed in product knowledge and features as well as policies and procedures.
- Be an educational resource for clients and credit union on EQB's regulatory, policy and product requirements.
- Resolving any issues that may arise and escalating as needed.
- Responsible to review investment documentation to ensure compliance with our obligations under:
- The Proceeds of Crime (Money Laundering) and Terrorist Financing Act & Regulations
- Deposit Type Instruments Regulations (DTIR)
- Pension and Registered Plan (RESP, RDSP, RRSP, RRIF, TFSA and FHSA) Regulations
- Familiar with all our compliance obligations to identify deficiencies & resolve them prior to accepting any new deposit and escalating matters when required. These include individual application specific criteria.
- Ensure deposit accounts are administered in accordance with legislation and internal policies and procedures while adhering to service standards for accuracy and timeliness.
Ensuring all keying is processed accurately and is free of errors or deficiencies.
All regulatory requirements are met, and documentation has been correctly scanned and recorded.
Documentation that is not compliant must be followed up with broker, credit union agent or clients in a prompt and timely manner.
Keep detailed records of non-compliant documentation and report if necessary.
10% Reporting and Reconciliation:
On a daily or periodic basis as required, administrators must balance and reconcile proof suspense or cash in CUC, identifying outstanding items that need to be followed up with the reconciliation department.
Any unbalanced items must be thoroughly investigated by referring to documentation or instructions received.
Communicate with the reconciliation department regarding any reconciling items.
Interacts with the management and staff of the Deposit Operations department as well as other internal bank departments (Treasury, Accounting & Finance, Reconciliation, IT, Audit and Risk as required. External contacts include service providers, brokers, credit unions and direct clients.
Assist in training and supporting staff on product knowledge, review of documentation and processing transactions to internal banking system in compliance with policies, legislative requirements and internal procedures.
- Normal office environment
Job Complexities / Thinking Challenges
Addressing and resolving issues that may arise during documentation verification, processing, or customer service, and escalating matters when necessary.
Managing multiple responsibilities, including documentation verification, customer service, compliance review, quality assurance, and reporting, requires effective multitasking and time management skills.
Effectively communicating with clients, credit unions, brokers, and internal departments, both in writing and orally, to ensure clarity and understanding
*** Salary will be based on experience
*** This posting is for an existing vacancy
*** Artificial Intelligence (AI) tools may be used as part of the applicant screening process. However, all final hiring decisions will be made by the hiring team to ensure a fair and thorough assessment.
What we offer [For full-time permanent roles]
\uD83D\uDCB0 Competitive discretionary bonus
✨ Market leading RRSP match program
\uD83E\uDE7A Medical, dental, vision, life, and disability benefits
\uD83D\uDCDD Employee Share Purchase Plan
\uD83D\uDC76\uD83C\uDFFD Maternity/Parental top-up while you care for your little one
\uD83C\uDFDD Generous vacation policy and personal days
\uD83D\uDDA5 Virtual events to connect with your fellow colleagues
\uD83C\uDF93 Professional development and comprehensive Career Development program
\uD83D\uDC9B 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 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!
