drjobs Senior Director Legal - Commercial Banking

Senior Director Legal - Commercial Banking

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1 Vacancy
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Job Location drjobs

Toronto - Canada

Monthly Salary drjobs

Not Disclosed

drjobs

Salary Not Disclosed

Vacancy

1 Vacancy

Job Description

Join a Challenger

Being a traditional bank just isnt 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 whats possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If youre not afraid of taking on big challenges and redefining the future you belong with us. Youll 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 670000 people acrossCanadathrough Equitable BankCanadasChallenger Bank and have been around for more than 50 years. Equitable Banks whollyowned subsidiary Concentra Bank supports credit unions acrossCanadathat serve more than six million members. Together we have over$125 billionin combined assets under management and administration with a clear mandate to drive change in Canadian banking to enrich peoples lives. Our customers have named our EQ Bank digital platform one of the top banks in Canada on the Forbes Worlds Best Banks list since 2021.


The Work

The Senior Director Legal Commercial Banking is principally responsible for providing effective legal support and advice to the commercial banking operations of the business (commercial lending and transactional activities). The incumbent will provide a wide range of services to the business units with a particular focus on commercial banking and corporate initiatives. 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 their areas they are principally accountable for and are likewise expected to identify other programs or functional areas that may be implicated as new legal strategies or practices are identified.
The Senior Director Legal Commercial Banking 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 Banks Commercial Banking functions.
The incumbent will preserve the Banks 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 selfregulatory agencies that govern the Banks businesses.

75 Commercial Lending Transactions

    • Serve as the Legal Teams main point of contact for the Banks commercial banking operations: Commercial loan funding specialized finance syndications special loans/defaults loan securitization and portfolio management.
    • Coordinate and lead the provision of practical and strategic legal advice to various stakeholders on a range of legal issues arising with respect to new originations and active loan facilities with a focus on compliance with Bank standard and mitigation of legal and operational risk.
    • Work closely with members of commercial management to interpret and ensure compliance with legal requirements and internal policies and procedures.
    • Lead all drafting requisitions and the general provision of legal input pertaining to the commercial materials of the Bank including all security and loan documentation.
    • Using a businessoriented approach review and advise on negotiations with partner financial institutions respecting interlender arrangements and capital markets.
    • Review revise and advise on internal policies and procedures as required.
    • Prepare review and negotiate company contracts requests for proposals and other legal documentation.
    • Ensure agreements contain requisite protections and meet the Banks operational and regulatory requirements.
    • Manage the Banks overall legal risk position by proactively identifying legal risks ensuring continued compliance with legal requirements and an appreciation for best legal practice and market standard and communicating risk and mitigation strategies to various stakeholders.
    • Conduct legal research and undertake special projects as required.
    • Work closely with commercial management in the investigation and resolution of internal audit findings.
    • Initiate and lead the development of precedents for business initiatives to streamline internal processes and minimize reliance on external counsel.
    • Work effectively with external counsel to provide valued legal services to the Bank in a costcontrolled manner.
    • Manage oversee delegate and mentor other junior members of the department which may include close oversight of their ongoing workload.
    • Take leadership over the management and oversight of certain legal resources subscriptions and licenses available to the Legal team.

25 Commercial Projects/Corporate Initiatives

    • Serve as the Legal Teams main point of contact for the Banks corporate and commercial lending initiatives by working closely with commercial capital markets and project management teams.
    • Work closely with senior management to advise on legal requirements applicable to new commercial lending projects and product updates.
    • Using a businessoriented approach manage and lead business units in achieving targets relating to new corporate and transactional initiatives including advising on legality market standard and operational concerns relating to the project.
    • Mindfully review draft and comment on documentation and processes relating to corporate transactions/initiatives.
    • Advise on creative solutions to legal and regulatory requirements where required to advance the goals and mandates of the business.
    • Actively take a primary role in the development of new initiatives to ensure legal soundness with a sensitivity to the needs of the business.
    • Draft documentation and amend existing documentation to support changes in processes and/or enhancements by business managers.
    • Manage the provision of legal support to capital markets relating to product updates and new initiatives.
    • Drafting/Amending and where necessary when negotiating agreements with key service providers relating to product offerings.
    • Work with and eventually manage/oversee and mentor other junior members of the department.
    • Work closely with members of the compliance team in the identification communication and resolution of quasi legalcompliance concerns.
    • Work effectively with external counsel to provide valued legal services to the Bank in a costcontrolled manner.
    • Assist in the investigation and resolution of internal audit findings.

Lets Talk About You!

    • 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 Ontario or other provincial equivalents.
    • 15 years of postcall experience.
    • Strong knowledge of financial services/banking law.
    • Substantial experience in a mentorship or managerial role with multiple direct reports.
    • Experience working in corporate/commercial banking is an asset.
    • High level of familiarity with the relevant regulatory bodies (i.e. OSFI FCAC CDIC FINTRAC OSC).
    • Masters 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 willing to take initiative to effect improvements.
What we offer For fulltime permanent roles
Competitive discretionary bonus
Market leading RRSP match program
Medical dental vision life and disability benefits
Employee Share Purchase Plan
Maternity/Parental topup while you care for your little one
Generous vacation policy and personal days
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

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyones 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 barrierfree 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 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 cant wait to get to know you!

Required Experience:

Exec

Employment Type

Full-Time

Company Industry

About Company

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