Deposit Operations Jobs in Ontario (NOW HIRING)

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The Vice President of Money Transfer and Deposits leads the strategic and day-to-day management of commercial banking payment and deposit operations, ensuring exceptional client service, regulatory compliance, operational efficiency, and risk management across domestic and international payment channels. This role drives process improvements, overseas change initiatives, and develops high-performing teams to support business growth, operational resilience, and service excellence.

Client Experience- Responsibilities include:

• Champion an exceptional client experience by partnering with other business functions and divisions to deliver efficient, scalable, and client-centric solutions.
• Act as the senior escalation authority for complex operational, compliance, and service-related matters, driving effecting resolution, mitigating risk, and ensuring seamless client and stakeholder experience.

Supervisory and Reporting- Responsibilities include:

• Provide leadership and oversight for the day to day operations of the Payment and Deposit Operations, ensuring the efficient, accurate, and controlled execution of domestic and international payment and deposit processing activities.
• Serve as the business lead for regulatory compliance across payment and deposit operations, maintaining expertise in SWIFT, FINTRAC, Payments Canada, OSFI, Canada Revenue Agency (CRA), and Bank of Canada requirements and ensuring adherence to all applicable regulations and industry standards.
• Lead the identification, assessment, and remediation of operational, regulatory, and control-related issues arising from audits, compliance reviews, policy changes, and Head Office directives driving a culture of continuous improvement and accountability.
• Develop, maintain, and regularly update procedures to ensure compliance with regulatory requirements, internal policies, and operational systems and processes.
• Ensure the accuracy, completeness, and timely submission of all Head Office and regulatory reports, maintaining strong governance and regulatory compliance practices.
• Direct and oversee the implementation of regulatory, policy, process, and system changes, evaluating business impacts, allocating resources, and ensuring successful execution of strategic initiatives that enhance operational effectiveness and mitigate risk.
• Act as the senior point of accountability for audit and regulatory engagements, ensuring timely responses, effective remediation of findings, and sustainable control enhancements.
• Establish and monitor key operational, service, risk, and productivity metrics to support executive decision-making, capacity planning, performance management, and proactive risk oversight.
• Oversee the development, testing, and ongoing maintenance of Business Continuity and Operational Resilience programs to ensure preparedness and compliance with regulatory, regional, and Head Office requirements.

Process Improvement and Projects - Responsibilities include:

• Provide oversight for establishing requirements, UAT testing, implementation, and optimization of systems supporting Payments and Deposits Operations, ensuring effective delivery of business and regulatory change initiatives.
• Drive a culture of continuous improvement by proactively identifying operational risks and process gaps, conducting root cause analysis, and implementing sustainable solutions that enhance controls, efficiency, and service delivery.
• Assess the operational impact of regulatory, business, and technology changes, and lead the development and execution of strategic enhancement initiatives that improve scalability, productivity, and operational performance.

Coaching/Team Development - Responsibilities include:

• Provide leadership and direction to managers and their teams, fostering a high-performance culture focused on operational excellence, accountability, collaboration, and client service.
• Lead workforce planning initiatives to ensure appropriate organizational structure, staffing capacity, and resource allocation to support current business needs and future growth objectives.
• Attract, develop, and retain top talent through effective recruitment, coaching, mentoring, succession planning, and performance management practices. Promote a culture of continuous learning and professional development.
• Ensure effective people management practices, including performance reviews, objective setting, talent development, succession planning, training compliance, and adherence to organizational policies and governance requirements.
• Promote open communication and employee engagement through regular meetings, team forums, and one-on-one discussions that support alignment, collaboration, and organizational effectiveness.
• Provide leadership support and operational oversight across broader Banking Operations functions, including Treasury and Loan Administration (TLA), ensuring continuity of management and alignment of business objectives.

Technical Skills

• Advanced knowledge of deposits and domestic and international payment systems and processes, including cheque clearing, SWIFT, AFT, Large Value and Low Value payment systems.
• Expert understanding of payment industry standards and messaging formats, including ISO 20022, SWIFT, Fedwire, and CHIPS.
• Strong knowledge of the regulatory and compliance frameworks governing payments and deposits, including FINTRAC, OSFI, Bank of Canada, CRA and Payments Canada requirements.

Education

• Bachelor's degree or equivalent work experience

The job description and related application pertains to an opportunity with either MUFG Bank, Ltd., Canada Branch ("MUFG Bank Canada") or MUFG Securities (Canada), Ltd. ("MUFG Securities Canada"). The job description relates to the general nature, scope, quantity and quality of work contemplated for the position. Other duties and responsibilities not specifically described may be assigned from time to time, consistent with knowledge, skills and abilities of the incumbent. The receipt of an application by either MUFG Bank Canada or MUFG Securities Canada, as applicable, does not imply or guarantee employment.Each of MUFG Bank Canada and MUFG Securities Canada is an equal opportunity employer.As a federally regulated entity, MUFG Bank Canada is required to comply with applicable laws which prohibit discrimination based on protected grounds and which require accommodation to individuals in accordance with the requirements outlined in the Canadian Human Rights Act and the Canada Labour Code. Where MUFG Bank Canada obtains information relating to protected grounds under the Canadian Human Rights Act as part of the application process, it does so to monitor and otherwise evaluate its own compliance with such legislation and associated regulatory requirements; MUFG Bank Canada does not use such information for decision making purposes relating to the position contemplated in this application.As a provincially regulated entity, MUFG Securities Canada is required to comply with applicable laws which prohibit discrimination based on protected grounds and which require accommodation to individuals in accordance with the requirements outlined in the Human Rights Code (Ontario) and the Employment Standards Act (Ontario). Where MUFG Securities Canada obtains information relating to protected grounds under the Human Rights Code (Ontario) as part of the application process, it does so to monitor and otherwise evaluate its own compliance with such legislation and associated regulatory requirements; MUFG Securities Canada does not use such information for decision making purposes relating to the position contemplated in this application.