Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing!) family. Overall 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
We are seeking a detail-oriented and proactive Anti-Money Laundering (AML) Due Diligence Analyst to join our growing AML operations team. In this role, you will be responsible for conducting thorough due diligence reviews of clients at on-boarding to ensure compliance with internal AML requirements. You will play a crucial part in identifying potential money laundering risks, escalating suspicious activity, and supporting the company's efforts to maintain a strong anti-money laundering (AML) program.
The ideal candidate will have a strong understanding of AML regulations, excellent analytical skills, and the ability to make sound decisions in a fast-paced and dynamic environment.
The Core Responsibilities!
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Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD): Conduct CDD and EDD on clients and transactions to assess the risk of money laundering or other financial crimes. Perform open-source search checks, analyze customer information including documentation, and verify sources of funds as necessary.
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Risk Assessment: Evaluate and categorize clients based on risk factors, such as geographical location, industry, and customer profile according to internal risk scoring methodology and guidance. Maintain up-to-date records of risk assessments and adjust them as necessary.
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Escalate Suspicious Activity: Review and analyze money laundering, terrorist financing and sanctions evasion red flags and potential suspicious activity that may require further investigation by the AML Compliance team.
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Regulatory Compliance: Stay current with evolving AML regulations and industry best practices. Ensure that the company’s AML due diligence procedures and controls comply with internal AML requirements.
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Reporting and Documentation: Maintain comprehensive records of all due diligence activities, client interactions, and investigative reports. Prepare reports and provide recommendations for internal audits and regulatory inspections.
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Collaboration: Work closely with other departments, such as legal, operations, and risk management, to ensure a cohesive approach to anti-money laundering efforts. Provide guidance and training to staff on AML procedures and policies.
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Continuous Improvement:
- Contribute to the enhancement of the AML compliance program by identifying inefficiencies and recommending improvements to policies, procedures, and systems.
Let's Talk About You!
- Bachelor’s degree in Finance, Accounting, Business, Criminal Justice, or a related field. AML or compliance certifications (e.g., ACAMS, ICA, or similar) are a plus.
- At least 2 years of experience in an AML compliance or due diligence role, preferably within the financial services industry (banking, insurance, fintech, etc.).
- Working knowledge of regulatory requirements for AML/ATF and sanction risk, industry best practices and/or organizational goals for AML/ATF typologies(essential).
- Excellent analytical and investigative skills, with the ability to assess complex data and identify risks.
- Strong attention to detail and accuracy in documentation and reporting.
- Ability to work independently and manage multiple priorities under pressure.
- Proficient in the use of AML software and databases.
- Strong written and verbal communication skills, with the ability to clearly articulate findings and recommendations.
- Advanced Excel skills specifically ability to create macros and v-lookups.
- Ability to organise and compile data to produce metric reports.
- Strong organizational skills, demonstrates ability to prioritize assignments, projects and multi-task within restricted time constraints.
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 fellow 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 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!
