Director, Legal, Personal Banking - Toronto, Canada - EQ Bank | Equitable Bank

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 370,000 people acrossCanadathrough Equitable Bank,Canada'sChallenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions acrossCanadathat serve more than 5 million members. Together we have over$100 billionin combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform ( ) has been named the top Schedule I Bank inCanadaon the Forbes World's Best Banks 2023, 2022, and 2021 lists.

Purpose of the Job The Director, Legal, Personal Banking (Lending and Wealth) is principally responsible for providing legal support and advice to the Personal Banking operations of the business with a primary focus on personal lending and wealth products (including but not limited to mortgages, reverse mortgages, insurance lending and deposit services). The incumbent will work independently within the Legal Department, providing a wide range of services to the business units, including advising on new product development, corporate initiatives and consumer and regulatory issues. The incumbent will interact regularly with senior management and will provide advice that will help the Bank achieve its goals and impact the overall strategic direction of the Bank. Moreover they are responsible for proactively promulgating policies and otherwise advancing practices that reduce legal risk in the areas they are principally responsible for and are likewise responsible for identifying other programs or functional areas that may be implicated as new legal strategies or practices are identified.

The Director, Legal, Personal Banking (Lending and Wealth) will be involved in handling a significant workload, inclusive of inquiries and assignments from a number of departments, as well as on legal matters arising from various statutory and regulatory changes and changes to the competitive landscape. The incumbent will make significant decisions on behalf of the Legal team and will be accountable for legal matters relating to the Bank's Personal Banking functions as it relates to personal lending and wealth. The incumbent will preserve the Bank's reputation for integrity and work to protect the organization from sanctions and reputational risk. In this role, they will play a critical part in developing policies, procedures and documentation that meet regulatory requirements and protect the interests of the Bank. The incumbent will strive to maintain cooperative relationships with all internal departments, policy makers, industry associations and regulatory and self-regulatory agencies that govern the Bank's businesses.

• Serve as the Legal Team's point of contact for the Bank's retail banking operations: Single Family Residential lending (mortgages, reverse mortgages, lines of credit, mortgage services), Insurance Lending Solutions (CSV lines of credit, immediate financings arrangements), Deposit Services, Sales and Marketing
• Provide practical and strategic legal advice to various stakeholders on a range of legal issues, with a focus on regulatory compliance, consumer protection and personal banking products, services and operations
• Interpret and ensure compliance with legal requirements and internal policies and procedures (for example, amendments to the Bank Act or applicable consumer protection legislation)
• Review and provide support for all consumer-facing marketing materials of the Bank
• Assist the Bank's wealth channels in partnership and referral initiatives
• Review, revise and advise on internal policies and procedures
• Prepare, review and negotiate company contracts, requests for proposals and other legal documentation
• Ensure contracts contain requisite protections and meet regulatory requirements
• Assist in the preparation of public company disclosures (press releases, CD&A, etc.)
• Review and advise on consumer-facing communications (marketing materials, servicing and renewal documents, etc.)
• Prepare, review and advise on B2B communications, including agreements with brokers and insurance partners/advisors and B2B marketing materials
• Advise on internal and external compensation arrangements, including the review of agreements and volume-based documents and communications
• Develop precedents for business initiatives to streamline internal processes and minimize reliance on external counsel
• Assist in managing the Bank's overall legal risk position by proactively identifying legal risks, ensuring continued compliance with legal requirements and an appreciation for legal best practice, and communicating risk and mitigation strategies to various stakeholders
• Conduct legal research and undertake special projects, as required
• Assist in the investigation and resolution of internal audit findings
• Work closely with members of the compliance team in the identification, communication and resolution of quasi legal-compliance concerns
• Work effectively with external counsel to provide valued legal services to the Bank in a costcontrolled manner
• Work with, and eventually manage/oversee and mentor other junior members of the department

• Advise on legal requirements applicable to new products and product updates in the Personal Banking portfolio
• Review, draft and comment on documentation and processes relating to corporate transactions/initiatives
• Support business units in achieving targets relating to new corporate initiatives
• Actively participate in the development of new products to ensure legal soundness with a sensitivity to the needs of the business
• Advise on creative solutions to legal and regulatory requirements, where required to advance the goals and mandates of the business
• Draft documentation, and amend existing documentation, to support changes in processes and/or enhancements by business managers
• Provide legal support to Corporate Development or other departments relating to product updates and new initiatives
• Drafting/Amending and where necessary negotiating agreements with key service providers relating to product offerings

• Degree from recognized Canadian University
• Graduate of a recognized law school (LLB or JD)
• Called to the Ontario Bar
• Member in good standing of the Law Society of Upper Canada or other provincial equivalents
• 8+ years of post-call experience
• Strong knowledge of financial services/banking law (retail banking experience would be an asset)
• Strong knowledge of consumer provisions and other legislation impacting the regulatory landscape (the Bank Act and its regulations, securities legislation, federal and provincial laws relating to financial institutions or real estate, Payments Canada rules, tax legislation, CASL, etc.)
• High-level of familiarity with the relevant regulatory bodies (i.e. OSFI, FCAC, CDIC, FINTRAC, OSC)
• Master's level education (MBA or LLM for example) would be an asset
• Proficiency in French would be an asset

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, personal days and even a moving day

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