Manager, Fraud Risk Management

Equitable Bank - Toronto, ON (30+ days ago)

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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: Manager, Fraud Risk Management
Department: Risk Policy
Reports To: Director, Fraud Risk Management

Purpose of the Job

Reporting to the Director Fraud Risk Management, the Manager has responsibility for maintaining the integrity of the Single Family fraud management program at Equitable Bank. The incumbent will recommend procedural and system changes to enhance the Bank’s fraud mitigation initiatives, support Bank strategies that align with industry practices and comply with regulatory requirements.

Main Activities:
  • Assist the Director in the establishment and maintenance of anti-fraud policies and procedures in all externally-facing Business Units and work towards their continuous improvement;
  • Working with the regular inflow of applications and through in-depth analysis, develop a comprehensive understanding of existing fraud patterns and be able to identify new trends as they emerge;
  • Work with the Fraud Risk Management (FRM) team to complete the Single Family Residential (SFR) Fraud-Focused Reviews (FFRs) in a timely and accurate manner, selecting files, reviewing results and compiling the report for the Director. Assist in the presentation of the report to Senior Management;
  • Use Sherlock, Cyberquery, Excel and SFR applications to detect, analyze and investigate new fraud trends and organized schemes, particularly those not previously identified by SFR. Prepare reporting on the same for Senior Management;
  • As the Fraud representative on the Broker Framework Committee, ensure brokers are recommended for the watch-list/blacklist as appropriate and in a timely manner, and prepare for weekly meetings by performing thorough analysis on brokers pending review;
  • Providing oversight and subject matter expertise to assist the FRM staff in their daily responsibilities, including the review of Sherlock entries, FFRs and Fraud Mailbox inquiries;
  • Provide subject matter expertise, training and procedural assistance to Business Units in the fulfillment of their fraud-related activities;
  • As a BCPIF IPR, perform inter-bank investigations in a professional manner, accurately recording all inquiries per CBA and Bank requirements;
  • Identify fraud-training opportunities and assist with the completion of training materials, delivering training if required; and
  • Perform record keeping, information analysis and report preparation as required.
Knowledge/Skill Requirements:
  • Post-secondary education preferably in business or finance, or equivalent experience in financial services;
  • Designation in one or more of the following preferred: CFE, CAAMP, CA, CMA, PMI, IA, RMA is preferred;
  • 5+ years in Financial Services Industry with exposure to single family mortgage products and including at least two years working directly in a fraud related function;
  • In-depth knowledge of legislation, regulations, policies and procedures related to mortgage lending including fraud mitigation and anti-money laundering requirements;
  • Sound knowledge of the PIPEDA relating to the collection, use and disclosure of Personally Identifiable Information;
  • Sound knowledge of the Canadian Criminal Code and civil litigation matters relating to Fraud and Obtaining Credit under False Pretenses;
  • Advanced competence in Microsoft Suite including Excel, PowerPoint and Word;
  • Moderate competence in Cyberquery required; Highly developed verbal and written communication skills with the ability to effectively present information to senior management in a clear, concise and professional manner;
  • Strong attention to detail;
  • Ability to manage time and work under strict deadlines;
  • Established organizational skills with the ability to handle multiple competing priorities; and
  • Demonstrated ability to work independently and lead/influence others to achieve goals.
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.