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 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 5 million members. Together we have over $100 billion in 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 (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.
Purpose of the Job
Under the general direction of the Director, Legal Services, Personal Banking, the successful candidate will work independently within the Legal Department, providing a wide range of services to the business units, including advising on new product introductions and corporate initiatives and assisting with customer and regulatory issues.
The successful candidate will be involved in handling a significant work load, inclusive of inquiries and assignments from different departments, as well as on legal matters arising from various statutory and regulatory changes.
Senior Counsel will preserve the Bank’s reputation for integrity and work with the departments to protect the organization from sanctions with policies and procedures that meet regulatory requirements. The department strives to maintain cooperative relationships with all internal departments, governmental policy makers, and regulatory and self-regulatory agencies that govern the Bank’s businesses.
-
Research legal issues of substantial complexity, as well as federal and provincial legislation to evaluate implications on the Bank – primarily as it relates to the Bank’s retail product offering (deposits (GICs, HISAs, etc.), payments, BIN sponsorship, mortgages, lines of credit, etc.)
-
Draft updates, amendments and new agreements/documents as they relate to the Bank’s customer-facing documents.
-
Provide legal analysis and advice on complex issues
- Draft and negotiate key legal documents
-
Provide timely and accurate responses to questions from various departments to facilitate transactions within short timeframes
- Contribute to achievement of corporate goals by ensuring compliance with legal and regulatory requirements
-
Identify the importance and urgency of issues, and evaluate the legal risks the Bank is exposed to in order to permit these risks to be brought forward to management and reflected in the Bank’s strategic and tactical plans
-
Review and advise on developing legal trends and their implications on the Bank and recommend courses of action in the best interest of the Bank
- Stay abreast of changes that impact the business, including with regard to: (i) federal and provincial legislation, (ii) case law, (iii) public company developments (TSX staff notices/amendments, corporate governance commentary/recommendations), (iv) CBA initiatives, and (v) other regulatory developments
-
Interact with various departments within the Bank in connection with advice and legal documentary requirements
-
Provide ‘sign off’ on behalf of Legal Department for certain projects
-
Reduce expense of outsourcing legal work
Primary Responsibilities:
60% General Legal Advice/Support:-
Provide pragmatic and timely legal advice on a variety of day-to-day issues
-
Prepare, review and negotiate company contracts, requests for proposals and other legal documentation
-
Ensure contracts contain requisite protections and meet regulatory requirements
-
Provide legal support to the following business units: Single Family Residential, Digital Banking, Payments and Analytics, CSV Lines of Credit, Deposit Services, Marketing, Fraud, Customer Experience, Small Business Banking
-
Assist in the review and preparation of public company disclosures
-
Review and advise on consumer facing and B2B marketing communications
-
Develop precedents for business initiatives to streamline internal processes and minimize reliance on external counsel
-
Help manage the Bank’s overall legal risk position by ensuring that contracts reflect best practice and legal requirements
-
Conduct legal research and undertake special projects as required
-
Assist in the investigation and resolution of internal audit findings
-
Work effectively with external counsel, as needed, to provide valued legal services to the Bank in a cost-controlled manner
40% Corporate Transactions/Corporate Initiatives:-
Advise on legal requirements applicable to new products
-
Review, draft and comment on documentation and processes relating to corporate transactions/initiatives
-
Support business units in achieving targets relating to new corporate initiatives
-
Draft documentation, and amend existing documentation, to support changes in processes and/or enhancements by business managers
- Provide legal support to Corporate Development relating to product updates and new initiatives
-
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
- 5+ years of post-call experience
-
Strong knowledge of financial services/banking law
-
Working knowledge of consumer provisions and other legislation impacting the regulatory landscape
-
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
-
Professional and courteous manner
-
Ability to collaborate with all internal and external groups
-
Excellent interpersonal and communication skills both written and oral
- Strong prioritization skills
- Proficient computer skills
-
Highly organized and autonomous
- Team player
- Problem solving capability and critical thinking
- Discretion with confidential issues and material
- Proactive, will to take initiative to effect improvements
What we offer [For full-time permanent roles]
\uD83D\uDCB0 Competitive discretionary bonus
✨ Market leading RRSP match program
\uD83E\uDE7A Medical, dental, vision, life, and disability benefits
\uD83D\uDCDD Employee Share Purchase Plan
\uD83D\uDC76\uD83C\uDFFD Maternity/Parental top-up while you care for your little one
\uD83C\uDFDD Generous vacation policy, personal days and even a moving day
\uD83D\uDDA5 Virtual events to connect with your fellow colleagues
\uD83C\uDF93 Annual professional development allowance and a comprehensive Career Development program
\uD83D\uDC9B 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!
