Eqbank26d ago

Deposit Services Administrator

Toronto,TorontoFull Timemid

OtherAdministrator

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Quick Summary

Requirements Summary

Promptly responding to client and agent inquiries received via telephone, e-mail, or

Technical Tools

OtherAdministrator

Join a Challenger

Being a traditional bank just isn’t our thing, so we challenge ourselves to get creative in providing innovative banking solutions for Canadians.

How do we get there? With a talented team of inquisitive and agile challengers that break through the status quo. So, if you’re passionate about redefining the future of banking—while having fun—this could be your next big opportunity.

Our company continues to grow, and today we serve more than 800,000 customers 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 $142 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 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.

30% - Compliance

Responsible to review investment applications to ensure compliance with our obligations under:

The Proceeds of Crime (Money Laundering) and Terrorist Financing Act & Regulations

CDIC Fast Insurance Determination Regulations

Deposit Type Instruments Regulations (DTIR)

EQB's Policies on Broker training requirements and standards

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.

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