The Role
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 670,000 people 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 $125 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 Work
Under the general direction of the General Counsel, but directly reporting to the Director, Commercial Banking, the successful candidate will generally work independently within the Legal Department, providing a wide range of services to the business units but with a particular focus on Commercial Banking, 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 workload, 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.
The Core Responsibilities!
- Provide legal analysis, documentation, preparation, negotiation and advice on complex issues with an emphasis on commercial real estate and secured lending in general
- Work with internal stakeholders in providing advice on deal structuring, taking effective security and ensuring the Bank’s interests are protected at all times
- Provide timely and accurate responses to questions from various departments to facilitate transactions within predetermined timeframes
- Contribute to the drafting and negotiation of critical legal agreements
- Facilitate the achievement of corporate goals by ensuring compliance with statutory and regulatory requirements
- Research substantial legal issues, as well as federal and provincial legislation to evaluate implications on the Bank
- Identify (and occasionally proactively identify) the importance and urgency of issues, and evaluate the legal risks the Bank is exposed for the purpose of escalating these risks to management
- Review and advise on developing legal trends (policies/procedures) and their implications on the Bank and recommend courses of action in the best interest of the Bank
- Maintain proximity to applicable industry and market trends in Canadian finance, commercial real estate and project development
- Interact with various departments within the Bank in connection with advice and legal documentary requirements
- Manage the expense of outsourcing legal work and promote efficiencies where possible
- Work in a fast-paced, detail oriented, environment and manage multiple deadlines and priorities
- Work with minimal supervision and exercise excellent judgement on complex, confidential and sensitive decisions
- Provide ‘sign off’ on behalf of Legal Department for certain projects, agreements and initiatives
General Legal Advice/Support (30%)
- 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 regulatory requirements
- Develop precedents for business initiatives to streamline internal processes and minimize reliance on external counsel
- Conduct legal research and undertake special projects, as required
- Help manage the Bank’s overall legal risk position by ensuring that contracts reflect best practice and legal requirements
- Interact with various departments within the Bank in connection with advice and legal documentary requirements
- Act as ‘expert’ and trusted source of knowledge in key areas and deliver training / education sessions to business units
- Provide ‘sign off’ on behalf of Legal Department for certain projects and internal policies
Commercial Lending Transactions (40%)
- Review, draft and comment on documentation and processes relating to new commercial lending transactions
- Work closely with the Bank’s Originations, Credit and Underwriting teams as a key legal resource in the establishment of new commercial real estate loan facilities and related agreements
- Provide legal advice pertaining to the Bank’s active commercial real estate loan facilities by acting as an ongoing legal resource for the Portfolio Management and Special Loans (Defaults) groups
- Utilize a business-oriented approach to support the Commercial Department generally in its negotiation and interpretation of inter-lender arrangements
- Offer business-oriented legal advice relating to syndicated loan facilities, asset based lending and structured financing to Canadian private lenders
- Draft documentation, and amend existing documentation, to support changes in processes and/or enhancements by commercial business managers
- Direct and oversee the management of external counsel, as needed, to ensure cost-effectiveness and high-quality service
Corporate Initiatives and Commercial Projects (30%)
- Act as primary Legal Department representative on the Bank’s new corporate initiatives and commercial projects
- Work with the Commercial Department generally to support launch of new products/initiatives, etc.
- Review, draft and comment on documentation and processes relating to commercial projects and initiatives
- Provide legal support to the procurement and third-party risk management teams in reviewing various contracts for the Bank’s third party vendors and servicers, ensuring compliance with regulatory requirements and Bank policies and procedures
Let's Talk About You!
- Degree from recognized Canadian University
- Graduate of a recognized law school (L.L.B. or J.D.)
- Called to the Ontario Bar/Member in good standing of the Law Society of Ontario
- 4-6 years of post-call experience in private practice or in-house (at preferably, another bank or financial institution)
- Wherewithal in financial services/banking law
- Robust knowledge of commercial real estate law
- Comprehensive experience with commercial lending transactions, which must include real estate financing
- Familiarity with structured finance and asset-based lending transactions
- Familiarity with insolvency law and proceedings
- Experience with CMHC insured loan transactions would be an asset
- Ability to have carriage of multiple transactions at a given time
- 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 stakeholders
- Excellent interpersonal and communication skills both written and oral
- Strong prioritization skills
- Proficient computer skills
- Highly organized and autonomous
- Team player and positive attitude
- Demonstrate reliability and integrity
- Problem solving capability and critical thinking
- High degree of discretion with confidential issues and materials
- Proactive, willing to take initiative to effect improvements
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
🎓 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
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s 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 everyone’s 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 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 beyond. 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.
We can’t wait to get to know you!
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The Company
What We Do
MakeBank on everyday banking: Earn high interest on every dollar Say no to fees No minimum balances Powered by Equitable Bank, a Schedule I Canadian Bank EQB Inc. (formerly Equitable Group Inc.) trades on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C), directly serves over 607,000 Canadians through its wholly owned subsidiary Equitable Bank, Canada's Challenger Bank™, and serves over 200 Canadian credit unions that serve over 6 million of their members with products and services. Equitable Bank has grown to become Canada's 7th largest independent Schedule I bank with over a $119 billion in assets under management and assets under administration, and a clear mandate to drive real change in Canadian banking to enrich people's lives. At Equitable Bank, we are as invested in our employees as we are in our business. That’s why we are consistently recognized as one of Canada's Top Employers – a rating that comes from our 1,800 employees. Equitable Bank’s inclusive, welcoming, and pride-inducing workplace earned it the honour of being recognized as one of the top 50 organizations on the 2023 list of Canada’s Best Workplaces™. Founded over 50 years ago, Equitable Bank provides diversified personal and commercial banking, and through its EQ Bank platform (eqbank.ca), which has been named #1 Bank in Canada for three consecutive years on the Forbes World's Best Banks list for 2021, 2022, and 2023. Equitable Bank website: www.equitablebank.ca EQ Bank website: www.eqbank.ca Specialties Lending, Mortgages, Residential Lending, Commercial Lending, Reverse mortgages, Insurance lending, Equipment leasing , Credit Union, Trust, and Funds Management
