Director, Operational and Fraud Risk Management Full Time

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.

The Work

The Director Operational and Fraud Risk oversees the 2nd line management of operational risk, fraud risk, change mgmt. risk and fiduciary risk across the Bank. Responsible to design, implement, provide training and awareness of these various programs and its related methodologies, systems, tools, and processes for ongoing evaluation of across the Bank. Provides independent oversight and challenge of the effectiveness of the Bank’s operational risk, fraud, change and fiduciary risk management practices and monitors adherence to the Risk Appetite Framework. Prepares consolidated quarterly committee reporting outlining both inherent and residual risks across all Non-Financial Risks within the department.

Risk Governance & Oversight

• Design and implement operational risk policies, guidelines and standards and a measurement methodology which is aligned with regulatory expectations and the Bank’s overall elected and targeted level of risk measurement maturity.
• Ensure the periodic and timely review of operational, fraud, change mgmt., and fiduciary risk related policies, management guidelines, risk frameworks, risk appetite, processes and controls as business and regulatory conditions may require.
• Provide insights and recommendations in strategy development of the future growth and maturity of the Bank.
• Oversee and integrate related risks such as culture risk, integrity and security, climate risk, or other regulations as required.
• Ensure common methodologies and frameworks are built and used across risk and compliance.

Operational Risk Management

• Guide the Risk and Control Self-Assessment (RCSA) process for all significant business activities and lines of business, assessing and challenging the inherent and residual risk.
• Develop and implement Key Risk Indicator (KRI) frameworks, measures and reporting tools in collaboration with business. Evaluating results against risk appetite framework to identify potential actions or changes.
• Own the New Initiative Risk Assessment (NIRA)process and the New Initiative Approval Process (NIAP) for new initiatives to properly assess and mitigate high inherent risks and ensure residual risks are acceptable and within the Bank’s risk tolerance levels.
• Ensure the development, administration and maintenance of the Bank’s Governance, Risk Management and Compliance (GRC) tool (Resolver) continues to meet the requirements of an Operational Risk Management program.
• Develop and deliver training supporting the various programs for team and Bank employees.

Climate Risk Oversight

• Provide oversight over climate-related risk management programs and activities throughout the Bank.

Fraud Risk Management and Oversight

• Build a 2nd line Fraud Risk Management Program to adequately assess, measure, monitor and report fraud risk across all Lines of Business and products within Equitable Bank.
• Train and educate first line on fraud risk and controls required to identify, measure and report fraud risk.

Fiduciary Risk

• Ensure trust businesses have appropriate controls in place to ensure effective risk mgmt. and adherence to all EQB policies and expectations related to Non-Financial risks.

Business Advisory

• Provide operational risk advice to business units to enhance the management of operational risk, including advising on risk mitigation strategies.
• Influence peers to collaborate in an integrated risk management approach.

Risk Reporting

• Review and provide monthly/quarterly/ad-hoc risk reporting on results of programs for Senior Management, and the Board as required.

Let’s Talk About You!

• Successful completion of a university degree with Finance or Accounting major complimented with 5-7 years of progressive risk management, audit experience, or first line risk management experience (OSFI 1B LOD), preferably in the financial industry.
• Experience in 2nd line Fraud Risk and Operational Risk management.
• A professional internal audit designation (CIA, CIDA) and/or a professional accounting designation (CA, CMA, CGA); or an equivalent combination of education and experience
• Advanced knowledge of risk management, compliance matters, corporate governance, regulatory/legal issues, and business planning strategies.
• Excellent analytical and quantitative skills and problem-solving abilities.
• Superior written and verbal communication skills coupled with meeting facilitation abilities and superior presentation skills.
• Effective organizational, project, and time management in order to efficiently deliver concurrent projects with competing priorities.
• Experienced in audit or sampling techniques and regulatory/legal requirements of financial institutions.
• Developing/maintaining knowledge and awareness of the financial industry, risk management practices and regulatory and/or policy changes.
• Project management skills: financial/budget management, scheduling, and resource management.
• Ability to lead and motivate the operational risk team to achieve tactical and strategic goals, even when only “dotted line” reporting lines exist.
• Excellent stakeholder management skills.
• High level of personal integrity, as well as the ability to professionally handle confidential matters and show an appropriate level of judgment and maturity.
• High degree of initiative, dependability, and ability to work with little supervision while being resilient to change.
• Communication: Complex e.g., external meetings, writing proposals, drafting speeches, negotiating terms, providing technical guidance to external audience.

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

🎓 Professional development and 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!