Senior Director, AML Transformation
Apply NowCompany: Disability Solutions
Location: Toronto, ON C6A
Description:
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
Reporting to the VP, Chief Anti Money Laundering Officer ("CAMLO"), the Senior Director, AML Transformation will play a critical role in leading, designing, and implementing strategic initiatives aimed at enhancing and evolving the bank's Anti-Money Laundering ("AML") framework.
The Senior Director, AML Transformation will be responsible for developing and leading the AML risk culture and technology transformation strategy. You will collaborate with key stakeholders across the bank to drive compliance with AML regulations, optimize processes, integrate new technologies, and ensure the bank's operations are agile, future-focused, and aligned with leading industry practices.
The successful candidate will have deep expertise in AML, regulatory requirements, and transformation initiatives across business and technology within the financial services industry, coupled with a proven track record for managing large-scale projects and change management efforts.
AML Strategy & Transformation Leadership:
Project Management & Stakeholder Collaboration:
Technology & Innovation Integration:
Change Management:
Reporting & Performance Measurement:
Let's Talk About You!
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
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank's additional office space located at 351 King Street East, Toronto, ON.
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!
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
Reporting to the VP, Chief Anti Money Laundering Officer ("CAMLO"), the Senior Director, AML Transformation will play a critical role in leading, designing, and implementing strategic initiatives aimed at enhancing and evolving the bank's Anti-Money Laundering ("AML") framework.
The Senior Director, AML Transformation will be responsible for developing and leading the AML risk culture and technology transformation strategy. You will collaborate with key stakeholders across the bank to drive compliance with AML regulations, optimize processes, integrate new technologies, and ensure the bank's operations are agile, future-focused, and aligned with leading industry practices.
The successful candidate will have deep expertise in AML, regulatory requirements, and transformation initiatives across business and technology within the financial services industry, coupled with a proven track record for managing large-scale projects and change management efforts.
AML Strategy & Transformation Leadership:
- Lead and manage the transformation of the AML function and strategies, ensuring alignment with evolving regulatory requirements and emerging financial crime threats.
- Develop and execute transformation roadmaps that drive efficiency, improve controls, and reduce risks across AML processes.
- Collaborate with senior leadership and key stakeholders to define AML strategy, priorities, and goals, including enhancing governance structures.
- Oversee and represent AML Compliance in strategic initiatives impacting AML compliance.
- Manage large, complex strategic programs with significant impact on business or product viability.
- Review, design, and execute improvements to internal processes and compliance program requirements, including transaction monitoring rule development and interpretation.
- Prepare budgets and financial reports, and report on the health and overall program efforts with sound metrics and analytics.
- Facilitate Steering Committee and/or Executive Committee level program team status meetings.
- Manage relationships with third-party vendors and coordinate independent testing requests for information/documentation.
- Monitor activities to minimize the company's exposure to risk and ensure adherence to company and legal standards.
- Demonstrates the ability to apply practical solutions to complex problems, ensuring efficient and effective outcomes.
Project Management & Stakeholder Collaboration:
- Lead cross-functional teams through large-scale AML transformation initiatives, including system implementations, process redesigns, and technology integrations.
- Manage project timelines, budgets, and resources to ensure delivery of key transformation milestones.
- Build and maintain strong relationships with internal stakeholders, including Legal, Compliance, IT, and Business Units, to facilitate smooth transformation efforts and ensure alignment across the organization.
Technology & Innovation Integration:
- Drive the adoption of new AML technologies, such as transaction monitoring, artificial intelligence, and machine learning, to enhance detection capabilities and optimize compliance processes.
- Work closely with IT and technology teams to ensure AML systems and tools are effectively integrated, updated, and maintained.
Change Management:
- Develop and oversee change management plans and strategies related to AML transformation efforts
Reporting & Performance Measurement:
- Develop and maintain key performance indicators (KPIs) and reporting frameworks to monitor and measure the effectiveness of the AML program and transformation efforts.
- Provide senior management with regular updates on the status of transformation initiatives, risks, and emerging trends.
Let's Talk About You!
- Minimum of 10+ years of advanced experience in AML with proven success in leading cross functional teams (including project teams) with internal and external resources preferably within financial services or other regulated industries.
- Comprehensive knowledge of core financial/banking processes and AML operations.
- Knowledge and experience with driving technology and process change in organizations.
- Proven leadership skills, with the ability to inspire and build consensus among diverse teams, maintain integrity, and establish positive relationships with both internal and external partners.
- Demonstrated success in driving organizational and cultural transformation initiatives, fostering high engagement levels, and supporting effective employee development and retention.
- Exceptional written and oral communication skills, with the ability to create compelling presentations and influence stakeholders at all levels.
- Completion of CAMs designation.
- Proven project management and change management skills.
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
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank's additional office space located at 351 King Street East, Toronto, ON.
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!