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About the Role
The Associate Director, Internal Audit will lead risk assessment, control identification, documentation, testing, findings, and recommendation processes for operational and regulatory audits, with a focus on Anti-Money Laundering/Anti-Terrorist Financing/Sanctions Evasion. The role involves developing and implementing audit coverage for new Bank products and strategic initiatives, requiring specialized knowledge in AML/ATF/SE operations and regulatory requirements for Credit Card, Mortgage, and Deposit products.
Responsibilities
- Independently develops and implements audit coverage for operational and regulatory audits.
- Creates operational and regulatory audit programs for various Bank business units, including personal and commercial mortgages, credit cards lending, Trust and Digital Banking deposits.
- Executes the end-to-end audit engagement process: develops an audit plan, identifies risks, assesses and tests controls, and develops conclusions based on audit testing.
- Drafts audit reports for submission to the Chief Auditor.
- Maintains awareness of applicable AML/ATF/SE regulatory requirements, Bank strategic initiatives, and industry developments to ensure audit work is relevant and value-added.
- Monitors or audits large-scale Bank projects.
- Follows up on and reports the adequacy of management actions to resolve audit findings.
- Reports progress to the Chief Auditor on an ongoing basis.
- Maintains up-to-date knowledge of regulatory expectations and industry developments related to the Bank’s business lines AML/ATF/SE.
- Develops a Risk and Control assessment for each audit engagement to guide audit program development.
- Considers the size and complexity of the Bank when conducting risk assessments and developing audit observations.
- Effectively communicates risks to Senior Management (Internal Audit and Business Unit Management).
- Maintains positive working relationships with Senior Management of business and control functions for effective communication.
- Maintains awareness of Senior Management’s concerns and emerging risks.
- Influences senior management regarding the acceptance of key findings and recommendations.
- Keeps the Chief Auditor informed of the status of key risks or findings.
- Commits to ongoing professional development by completing 40 training hours per year.
- Shares knowledge of areas of expertise with other members of the Internal Audit team for cross-training.
Requirements
- Post-secondary degree is mandatory.
- An Internal Audit designation is an asset.
- 107+ years’ proven experience in a financial institution Internal audit or Risk Management role (senior manager or above).
- Have enrolled or obtained The Certified Anti-Money Laundering Specialist (CAMS) Designation.
- Strong knowledge of operations AML, ATF, SE related to Commercial and Retail Lending and Deposit Taking (including Digital Banking Deposits).
- Strong knowledge of applicable regulatory requirements, including mandatory AML/ATF/SE, and preferred Privacy and Financial Consumer Agency of Canada knowledge.
- Knowledge of data control requirements related to the Basel Advanced Internal Ratings Based Approach (AIRB) is an asset.
- Experience auditing project management controls.
- Proven excellent written and verbal communication skills.
- Ability to communicate with various staff levels across the organization.
- Ability to communicate effectively with influence and impact Senior Management regarding recommendations for identified control issues.
- Excellent organizational, time management, and project management abilities.
- Ability to manage multiple priorities and potentially other staff resources within deadlines.
- Ability to work independently and perform under pressure and within tight time constraints.
- Continues to develop/maintain broad knowledge and awareness of the financial industry, risk management practices, and regulatory and/or policy changes.
- Must successfully complete a criminal background check and credit check.
Skills
- Anti-Money Laundering (AML)
- Anti-Terrorist Financing (ATF)
- Sanctions Evasion (SE)
- Credit Card operations
- Mortgage operations
- Deposit operations
- Risk assessment
- Control identification
- Documentation
- Testing
- Audit reporting
- Project management
- Communication
- Time management
- Organizational skills
Location
- Toronto, ON
Work Type
- Hybrid
Experience Level
- Associate Director
- Senior Manager or above
Education Level
- Post-secondary degree
- Certified Anti-Money Laundering Specialist (CAMS) Designation
Benefits
- Competitive discretionary bonus
- Market leading RRSP match program
- Medical, dental, vision, life, and disability benefits
- Employee Share Purchase Plan
- Maternity/Parental top-up
- Generous vacation policy and personal days
- Virtual events
- Professional development and comprehensive Career Development program
About the Company
- EQ is remaking banking so every Canadian gets ahead, every day.
- Serves nearly 4 million Canadians from coast to coast, offering a wide variety of financial services including banking, lending, trust, and credit union solutions.
- Challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences since 1970.
- EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™.
- EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.
Equal Opportunity
- EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported.
- Believes the organization is stronger and people thrive when honouring and celebrating diverse experiences, identities, and perspectives.
- Committed to supporting employee growth, both professionally and personally.
- Provides a barrier-free recruitment process and work environment.
- Will work with candidates to ensure they can bring their best selves to the process and beyond if accommodations are required.
- Uses AI to help screen, assess, and/or select applicants, with all AI-enabled outputs reviewed and validated by the talent team.