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Administrator, Deposit Services (Bilingual)

Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada Req #864
Friday, November 22, 2019

Canada's Challenger Bank™

If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.

Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $31 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 employees across the country.

Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.

Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.

Job Title:             Bilingual Deposit Services Administrator                                                

Department:      Deposit Services

Reports To:         Manager, Deposit Services


Purpose of Job:


The Bilingual Deposit Services Administrator is responsible for a variety of functions within the Deposit Services group that include Compliance review and assessment, problem resolution, customer and broker communication, data input and quality assurance.


The Administrator is responsible for performing the role with a high degree of accuracy and with a superb level of customer service and professionalism.


Main Activities


30% - Compliance

  • Responsible to review investment applications to ensure compliance with our obligations under:
    1. Act & Regulations
    2. Deposit Type Instruments Regulations (DTIR)
    3. EQB's Policies on Broker training requirements and standards
    4. OSFI B-8 guidance Deterring and Detecting Money Laundering and Terrorist Financing
  • Incumbent must be familiar with all our compliance obligations to identify deficiencies & resolve them prior to accepting any new deposit and escalating matters when required. These include individual broker compliance, application specific criteria and EQB risk scoring criteria.


20% - Customer Service:

  • Promptly responding to client and agent inquiries received via telephone, e-mail, or fax
  • Providing quality Customer Service for direct/walk in clients
  • Ensure customer satisfaction; must be well versed in product knowledge and features as well as policies and procedures
  • Be an educational resource for brokers on EQB's regulatory, policy and product requirements 
  • Resolving any issues that may arise and escalating as needed


15% - Application Review and Input:

  • Search the banking system for existing account CIF's to review for compliance status & risk scoring value or create a new CIF record.
  • Ensure all required record keeping documentation has all been received in good order
  • Confirm receipt of the funds and the accuracy of the investment terms such as interest rate, term, issue and maturity dates etc., resolving discrepancies or recommending exceptions where and when appropriate
  • Input the investment details accurately into the banking system.


15% Processing:

  • Cashable GIC redemption requests
  • Maturity cheques
  • Bulk cheque runs
  • TFSA transfer requests
  • Estate transfers, re-registrations and/or redemptions
  • Pre-Authorized Deposits (PAD's)
  • Broker commission reports and cheques
  • CANNEX electronic purchase and reconciliation files


10% - Quality Assurance:

  • Ensuring each application is processed accurately and is free of errors or deficiencies
  • All regulatory requirements are met; including AML, DTIR, agent/rep training and testing, the risk score has been properly completed & entered, and application documentation has been correctly scanned and recorded.  
  • Applications that are not compliant must be followed up with agents or clients in a prompt and timely manner
  • Keep detailed records of non-compliant applications and report if necessary
  • Transfers/re-registrations are also reviewed for accuracy and completeness


7% Reporting and Reconciliation:

  • On a daily or periodic basis as required, administrators must balance and reconcile GIC journal entries to the bank statements, identifying outstanding items that need to be followed up with the TD Bank or the accounting department.
  • Any unbalanced items must be thoroughly investigated.  This could include examining the journal entries, deposit slips, back dated items, etc.                                                                     
  • Communicate with the accounting department regarding any reconciling items.
  • Produce bank statements as well as SIT generated reports such as the funding report and updating the cash flow workbook.
  • Produce, review & distribute monthly broker/dealer reconciliation reports.
  • On a daily basis review HISA net settlements on FundSERV.  Compare the figure against SIT generated reports and ensure any required payments to FundSERV are made on time.
  • On a monthly basis, post and balance dividend and trailer fees for our HISA accounts


3% Duties as assigned:

  • Participate in company sponsored training or other educational /safety courses.
  • Filing, scanning or other duties or projects as assigned by management.











Knowledge/Skill Requirements:


  • Bilingual – Fluent in French
  • Minimum 12 months’ experience in front line customer service, preferably in financial or mortgage industry
  • Post-secondary education
  • Office Administration experience
  • Preferred experience with broker referred GIC’s and Mutual Fund Money Market/HISA products
  • Strong interpersonal and communication skills – written and oral
  • Superior attention to detail and strong organizational skills
  • Self-motivated with the ability to work with little or no supervision
  • Ability to work independently as well as within in a group/team environment
  • Strong Customer Service orientation
  • Ability to easily build rapport and foster positive relationships with both customers and team members 
  • Strong active listening skills with the ability to engage with the customer
  • Professional and courteous telephone manner
  • Able to perform well in a high volume, high intensity environment and multi-task
  • Familiarity with MS Office (MS Outlook, MS Word & MS Excel)
  • Staff members must maintain up to date knowledge of company policies, procedures and regulatory obligations related to Equitable Bank's various investment products

Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates.  Accommodations are available on request for candidates taking part in all aspects of the selection process. 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.

Other details

  • Pay Type Salary
  • Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada