---
title: 'Lead, Business System Analyst at EQ Bank | Canada''s Challenger Bank'
canonical: 'https://feeny.ai/job/lead-business-system-analyst-eq-bank-canada-s-challenger-bank-toronto-zwjm8z3r5q5n'
type: 'job'
last_seen: '2026-10-13'
---

# Lead, Business System Analyst at EQ Bank | Canada's Challenger Bank

- **Company:** EQ Bank | Canada's Challenger Bank
- **Location:** Toronto, Canada
- **Employment:** full-time
- **Work type:** hybrid
- **Posted:** 2026-10-06
- **Last confirmed live:** 2026-10-13
- **Apply:** https://jobs.lever.co/eqbank/7dffa530-779e-4b8e-bc1f-ab93b8249d9a

## Job description

Purpose of Job The Lead Business System Analyst (BSA) will facilitate the identification and documentation of detailed user stories (functional requirements), process and system flows and contribute to the overall user experience, technical solution and acceptance criteria for Enterprise Technology and Data strategic projects and programs.  The Lead BSA will be a core member within a cross-functional Pod that is delivers using hybrid-agile methodology and tools.  The Lead BSA Lead will work with stakeholder groups across the Enterprise Technology and Data portfolios, including Finance, Risk, Treasury, Fraud, AML, and multiple Technology teams and suppliers.  EQ Bank uses the latest suite of Atlassian tools (JIRA, Confluence, and add-ons) for capturing epics, user stories, flows, technical design documents, testing, and sprint-based execution.

Main Activities:

- Manage and plan upcoming deliverables and tasks within the project sprint cycles.

- Establish a plan for stakeholder workshops to capture and elaborate detailed user stories, by bundles of Themes and Epics.

- Facilitate workshops to document customer / user needs, process / system flows, and end to end requirements as detailed user stories.  User Stories will include key areas such as happy path experiences, alt/error flows, spec-by-example, acceptance criteria, and business value.

- With cross-functional Pod and external supplier support, decompose user story and experience requirements by supplier.  Establish and maintain traceability from the Bank’s overarching requirements to each supplier.

- Drive and ensure sign-off of BA created artefacts across the Pod team and stakeholders.

- Support cross-functional Pod and to create technical design documents, create acceptance criteria and testing artefacts, and story point estimation (where applicable).

- Support ad hoc business and technical analysis requests to support main activities as required, such as API data maps.

- Support daily stand-ups and project velocity reporting as required (ex: pace of writing & approving detailed user stories).

- Review and support other Business System Analyst team members for work quality and consistency

Knowledge/Skill Requirements:

- Deep understanding of Software Development Life Cycle concepts
- Experience with both waterfall and agile methodologies
- Business domain knowledge in Canadian Online and/or Retail Banking is mandatory
- Good understanding of Canadian Banking legislation, regulations and policies such as Compliance (FCAC) Regulatory (OSFI, CDIC)
- Proven ability to translate credit risk methodologies and regulatory requirements into business, data, and system requirements
- Working knowledge of Python and SQL, with the ability to interpret code artifacts, validate business rules, analyze data flows, and understand model calculations and outputs.
- Experience with credit risk data sourcing, lineage, controls, and governance, ensuring data quality, traceability, and compliance with regulatory and model risk management requirements.
- Strong understanding of credit risk regulatory frameworks and reporting requirements, including IFRS 9 Expected Credit Loss (ECL), OSFI Capital Adequacy Requirements (CAR), and enterprise stress testing frameworks.
- Demonstrated knowledge of credit risk concepts, including Probability of Default (PD), Loss Given Default (LGD), Exposure at Default (EAD), credit risk staging, regulatory capital calculations, and stress testing methodologies.
- Working knowledge of data platforms, data pipelines (ETL/ELT), and enterprise data architecture concepts
- Proficient user of all Microsoft tools; Knowledgeable with Atlassian suite (JIRA & Confluence).
- Post-Secondary education, preferably in Technology related fields
- 8 or more years of experience in delivering technology projects in a Business Analyst capacity or related role

## About EQ Bank | Canada's Challenger Bank

## Company Overview
- **One-liner**: A Canadian challenger bank providing digital-first personal and commercial banking, lending, and asset management through its EQ Bank platform and parent company EQB Inc.
- **Entity Type**: Public (TSX: EQB)
- **Headquarters**: Toronto, Ontario, Canada
- **Founded**: 1970
- **Founders**: Not publicly available

## Core Business
- **Primary industries**: Banking, Financial Services, Digital Banking, Asset Management
- **Target customers**: B2C (Canadian consumers), B2B (small businesses, credit unions, commercial real estate borrowers)
- **Mission / purpose**: “Drive change in Canadian banking to enrich people’s lives” — challenging the status quo to bring more competition and better value to Canadians.

## Products & Services
- **EQ Bank**: Canada’s first all-digital, cloud-based bank offering high-interest savings, registered accounts, GICs, and everyday banking (SaaS-like digital platform)
- **Business Banking**: Recently launched all-digital banking platform for small businesses, offering greater value and a differentiated experience
- **Commercial Banking**: Lending focused on insured multi-unit residential securitization, serving builders and renovators of rental apartment supply
- **Insurance (Equitable Trust/Concentra)**: Home and auto insurance, estate and trust services
- **Asset Management (ACM Advisors)**: Alternative asset management for institutional investors
- **Credit Union Solutions**: Services for nearly 200 Canadian credit unions, serving approximately six million members

## Market Standing
- **Valuation / Market Cap**: Not directly disclosed in provided sources; combined assets under management and administration are $151 billion (company overview) – $138 billion (annual report). Market cap is not publicly available in the provided data.
- **Key Metric**: Annual revenue of $270 million (LinkedIn estimate); public company with SEC/TSX filings.
- **Notable Investors / Partners**: Exclusive financial partner of Loblaw Companies Limited’s PC Optimum™ loyalty program (18+ million members). Recognized as one of Forbes’ World’s Best Banks (2021‑2025) and named top bank in Canada and North America by The Banker (Financial Times, 2025).
- **Growth Signals**: 607,000 EQ Bank customers at end of Q4 2025 (18% YoY increase); directly serves over 779,000 customers; employee count grew to ~1,950 (from ~1,360 on LinkedIn, indicating significant hiring); moved into new national headquarters at EQ Bank Tower in Toronto (May 2025).

## Competitive Advantages
- **First-mover digital advantage**: Canada’s first all-digital bank, built on a proprietary cloud platform that enables rapid product development and fintech collaborations.
- **Challenger brand identity**: Distinct positioning as a “Challenger Bank™” that actively disrupts the big-five bank oligopoly, attracting customers seeking better value.
- **Massive embedded reach**: Exclusive partnership with PC Optimum (18M+ members) gives EQ Bank deep integration into daily Canadian spending.
- **Strong regulatory standing**: Operating as a Schedule I bank (7th largest by assets) with OSFI regulation, providing trust and stability.

## Strategic Focus
- **Open banking leadership**: Advocating for and integrating open banking to give customers control over their financial data and enable better choices.
- **Digital expansion**: Scaling the EQ Bank platform (record customer growth) and recently launching Business Banking to capture small business market.
- **Innovation & efficiency**: Leveraging cloud-native platform to drive best-in-class cost efficiencies and rapidly innovate new products.
- **Talent growth**: Investing in leadership development programs and building a pipeline of future leaders to sustain growth.

## Why Work Here
- **Culture**: Recognized on LinkedIn Top Companies list for workplace growth and career progression (2024) and Canada’s Best Workplaces™ (2023). Emphasizes authenticity, inclusion, and a “Challenger” mindset.
- **Work model**: Hybrid work model with flexible hours, generous vacation, and a “work from away” program.
- **Compensation & benefits**: Comprehensive medical, dental, vision, fertility, and mental health support; company equity via stock matching; retirement savings plan with matching; 12 weeks top-up pay for parental leave.
- **Growth & learning**: Annual learning budget; allowances for home office and wellness; structured internship, co-op, and Leadership Development Program (LDP) offering real responsibility, mentorship, and cross-functional rotations.
- **Wellness**: Employee assistance program, sick days, life and disability insurance.
- **Perks**: New national headquarters at EQ Bank Tower in downtown Toronto.

## Sources
1. [eqbank.ca - Company Overview](https://www.eqbank.ca/about-us/about/company-overview)
2. [eqbank.ca - Careers](https://www.eqbank.ca/about-us/about/careers)
3. [jobs.lever.co/eqbank - Job listings](https://jobs.lever.co/eqbank)
4. [linkedin.com/company/-eqbank - LinkedIn company page](https://linkedin.com/company/-eqbank)
5. [filecache.investorroom.com - EQB 2025 Annual Report](https://filecache.investorroom.com/mr5ircnw_eqbank2/1591/EQB-2025_Annual_Report_Final.pdf)

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