Job Specifications
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(tm), 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
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.
The Core Responsibilities!
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
25% - Customer Service:
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
20% - Compliance
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
10% - Quality Assurance:
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
Transfers/re-registrations are also reviewed for accuracy and completeness
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
Let's Talk About You!
Minimum 2 years' experience in financial industry
Post-secondary education
Office Administration experience
Strong interpersonal and communication skills - written and oral
Superior attention to detail and strong organizational skills
Self-motivated with the ability to work with little or no supervision
Ability to work independently as well as within in a group/team environment
About the Company
Equitable Bank and its digital platform, EQ Bank, are dedicated to driving change in Canadian banking to enrich people's lives. As Canada's Challenger Bank(tm) and the seventh largest bank by assets, we provide outstanding personal and commercial banking experiences to customers and credit union members across Canada.
Through EQ Bank, our customers have named us one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
Equitable Bank is a proud, wholly owned subsidiary of EQB Inc. (TSX: EQB), a leade...
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