Responsibility Framework

Challenger Bank Responsibility Pillars

Our purpose is to drive change in Canadian banking to enrich people’s lives by continuously expanding our products and services to address evolving customer needs. Our Responsibilities are built on the following pillars – Climate, Customers, Community, Challengers and Controls, and guides us in living our purpose every day. Our purpose of driving change comes with an implicit pledge to always do what's right for our employees, customers, shareholders, business partners, regulators, and the communities where we do business.













Our business and all stakeholders are dependent on a healthy climate. We consider the following within our climate strategy: emissions, targets, risks, governance, and products and services. We are focused on doing our part to conserve resources and preserve/protect the natural environment



Our Bank would not exist without customers. Since our customers have choices of where to bank, our differentiating purpose is to drive change in banking to enrich people’s lives. We work tirelessly to provide a best-in-class customer experience, and products that serve this purpose


We believe we owe a duty of care to the communities that house our employees, customers, business partners, and shareholders. We consider ourselves an important piece of a wider puzzle and seek to support our communities with positive actions that are meaningful to them


Approximately 1,800 employees of Equitable are Challengers as they deliver our Bank’s purpose. As a matter of principle, structure, strategy, and practice, the Bank seeks to develop, empower, reward, and nurture its Challengers


These are the principles by which we are governed. We run our business with a prudent risk appetite and never waver from ethical behaviour. We have an experienced and diverse group of people leading the charge

We are keenly focused on the role we play in people’s lives. It is important for us to do business in ways that make Canada more sustainable, inclusive, and responsible. By ensuring effective governance structures exist, optimizing our environmental footprint, and supporting social causes, we create value for all stakeholders. We consistently evaluate how each of our five Responsibility pillars lines up with our corporate values, which guides us to live our purpose every day.





Our values








We work collaboratively with our peers, customers, Challengers, and communities to minimize the impact of climate change


We embrace our customers with compassion, celebrate their diversity, and work to ensure our approach helps them to thrive


We pursue opportunities for engagement, celebrate the diversity of our local communities, and serve underbanked groups


We provide our employees with meaningful work and opportunities for advancement and growth


We are led by skilled individuals with diverse backgrounds who use their varied experiences to drive change that delivers value to our stakeholders, while building our inclusive culture




We are intentional: we only promise what we can deliver, and we measure, disclose, and manage what matters for the environment


We deliver value through cost-effective financial solutions, transparency, inclusive communication, and an obsession with privacy


We are committed to justice and reconciliation in all communities across Canada


We treat employees fairly through clear and honest training and development, provide transparency

on roles and expectations, and clearly live our corporate values



We use proven governance frameworks and controls, provide transparent reporting, and manage risk through processes that ensure ethical behaviour



We focus on operational efficiency and zero-waste, empowered

by our branchless, digital-first business model


We believe that all customers are entitled to accessible and flexible banking, accompanied by exceptional service


We work with like-minded community partners who share our values and amplify their missions, while making authentic differences through thoughtful contributions



We listen to our people and make changes, protect employee health and wellness, and strive for

full engagement


We forge Board and management relationships with key stakeholders, and treat our investors like our customers, by developing products and services that do good and enrich Canadians’ lives




We aim to support our customers, communities, employees, suppliers, and regulators as they continue along their decarbonization pathways through a shift to green initiatives, products and services



We offer education, customer-centric product development, and support. We constantly research customer behaviour

and are there when our customers need us to empower them


We support local arts and charitable causes with time, money, and education to enhance their ability to serve key stakeholders and help communities build resiliency


We give our employees responsibility and autonomy by minimizing traditional hierarchies, and opening avenues for them to show value, innovate, develop, and connect over our shared purpose


We deploy governance structures that enable confident decision- making while maintaining checks and balances. We deploy

capital responsibly to customers and businesses who align with our values



We track and assess climate and environmental risks as they emerge, keep a pulse on industry developments, and stay responsive to customer needs resulting from climate- related disasters



We are receptive to customer needs at all times including during periods of economic strife through customer care, and we rely on data and advanced cloud technology to stay responsive


We recognize the changing shape of our communities by addressing the needs of underserved groups, and offering products that keep pace with demographic and psychographic changes


We encourage our employees to challenge the status quo, develop ideas, create solutions, and be prepared to pivot to address opportunity and risk


We have efficient risk, monitoring, and reporting mechanisms that allow us to address challenges

in real-time and focus on new opportunities for effective product development

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