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 $33 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.
Title: Senior Counsel
Reports To: General Counsel, Legal
Purpose of the Job
Under the general direction of the General Counsel, Legal Services, the successful candidate will work independently within the Legal Department, providing a wide range of services to the business units, including advising on new product introductions and corporate initiatives and assisting with customer and regulatory issues.
The successful candidate will be involved in handling a significant work load, inclusive of inquiries and assignments from different departments, as well as on legal matters arising from various statutory and regulatory changes.
Senior Counsel will preserve the Bank’s reputation for integrity and work with the departments to protect the organization from sanctions with policies and procedures that meet regulatory requirements. The department strives to maintain cooperative relationships with all internal departments, governmental policy makers, and regulatory and self-regulatory agencies that govern the Bank’s businesses.
- Research legal issues of substantial complexity, as well as federal and provincial legislation to evaluate implications on the Bank – primarily as it relates to the Bank’s retail product offering (deposits (GICs+HISAs), mortgages, lines of credit, etc.)
- Draft updates, amendments and new agreements/documents as they relate to the Bank’s customer-facing documents.
- Provide legal analysis and advice on complex issues
- Draft and negotiate key legal documents
- Provide timely and accurate responses to questions from various departments to facilitate transactions within short timeframes
- Contribute to achievement of corporate goals by ensuring compliance with legal and regulatory requirements
- Identify the importance and urgency of issues, and evaluate the legal risks the Bank is exposed to in order to permit these risks to be brought forward to management and reflected in the Bank’s strategic and tactical plans
- Review and advise on developing legal trends and their implications on the Bank and recommend courses of action in the best interest of the Bank
- Stay abreast of changes that impact the business, including with regard to: (i) federal and provincial legislation, (ii) case law, (iii) public company developments (TSX staff notices/amendments, corporate governance commentary/recommendations), (iv) CBA initiatives, and (v) other regulatory developments
- Interact with various departments within the Bank in connection with advice and legal documentary requirements
- Provide ‘sign off’ on behalf of Legal Department for certain projects
- Reduce expense of outsourcing legal work
- General Legal Advice/Support:
- Provide pragmatic and timely legal advice on a variety of day-to-day issues
- Prepare, review and negotiate company contracts, requests for proposals and other legal documentation
- Ensure contracts contain requisite protections and meet regulatory requirements
- Provide legal support to the following business units: Single Family Residential, Digital Banking, CSV Lines of Credit, Deposit Services, Marketing
- Assist in the review and preparation of public company disclosures
- Review and advise on consumer facing and B2B marketing communications
- Develop precedents for business initiatives to streamline internal processes and minimize reliance on external counsel
- Help manage the Bank’s overall legal risk position by ensuring that contracts reflect best practice and legal requirements
- Conduct legal research and undertake special projects as required
- Assist in the investigation and resolution of internal audit findings
- Work effectively with external counsel, as needed, to provide valued legal services to the Bank in a cost-controlled manner
- 40% Corporate Transactions/Corporate Initiatives:
- Advise on legal requirements applicable to new products
- Review, draft and comment on documentation and processes relating to corporate transactions/initiatives
- Support business units in achieving targets relating to new corporate initiatives
- Draft documentation, and amend existing documentation, to support changes in processes and/or enhancements by business managers
- Provide legal support to Corporate Development relating to product updates and new initiatives
- 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 Upper Canada
- 5+ years of post-call experience
- Strong knowledge of financial services/banking law
- Working knowledge of consumer provisions and other legislation impacting the regulatory landscape
- Familiarity with the relevant regulatory bodies (i.e. OSFI, FCAC, CDIC, FINTRAC, OSC)
- Master’s 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, will to take initiative to effect improvements
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.
- Pay Type Salary
- Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada