Deposit Services Administrator

Toronto - Canada

Monthly Salary: Not Disclosed

Posted on: 10 days ago

Vacancies: 1 Vacancy

Job Summary

Join a Challenger

Being a traditional bank just isnt 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 youre passionate about redefining the future of bankingwhile having funthis could be your next big opportunity.

Our company continues to grow and today we serve more than 800000 customers acrossCanadathrough Equitable BankCanadasChallenger Bank and have been around for more than 50 years. Equitable Banks wholly-owned subsidiary Concentra Bank supports credit unions acrossCanadathat serve more than six million members. Together we have over$142 billionin combined assets under management and administration with a clear mandate to drive change in Canadian banking to enrich peoples 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 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.

The Work !

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)
EQBs 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 EQBs 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 CIFs 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 (PADs)
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.

Lets Talk About You !

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 GICs 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 Banks various investment products

What we offer For full-time permanent roles

Competitive discretionary bonus

Market leading RRSP match program

Medical dental vision life and disability benefits

Employee Share Purchase Plan

Maternity/Parental top-up while you care for your little one

Generous vacation policy and personal days

Virtual events to connect with your fellow colleagues

Professional development and comprehensive Career Development program

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 Banks additional office space located at 2200-25 Ontario Street Toronto ON.

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyones diverse experiences and 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 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:

Unclear Seniority

Join a ChallengerBeing a traditional bank just isnt 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 youre passionate abo...