Trade Reconciliation Representative

Trade Reconciliation Representative

Scotiabank | Ottawa, ON, H2B, CA

Posted 20 days ago

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Requisition ID: 148042

We are committed to investing in our employees and helping you continue your career at Scotiabank.

Additionally, the Trade Reconciliation Representative is responsible for both the settlement and reconciliation of trade, position, and cash transactions for the organization’s discretionary and non-discretionary lines of business while adhering to set Service Level Agreement (SLA) timeframes.

Finally, the incumbent will also support the composition, validation, and execution of non-registered tax slips as part of the larger tax delivery program ensuring that the various accountabilities are processed to the highest standard as per regulatory requirements under the Income Tax Act (overseen by Canada Revenue Agency) and various provincial acts.

Duties & Responsibilities:

  • Reconcile all client positions, manage exception reporting, and execute daily trade settlement for both nominee and discretionary accounts
  • Reconcile all institutional error, suspense and house accounts
  • Identify, research and remediate all settlement exception items as required
  • Produce, reconcile and file applicable non-registered tax slips accurately and within defined regulatory timelines for MD Management Ltd., MD Private Trust, and MD Private Investment Counsel
  • Prepare and calculate manual tax receipts and slips if required
  • Perform routine data integrity audits to ensure accurate and complete tax reporting and perform data clean up as required
  • Review and process select non-registered transactions (charitable donations, book cost adjustments, SERP deposits, etc.) as required
  • Ensure associated policy and procedure documents are reviewed regularly and updated as required
  • Investigate and support non-registered inquiries and/or escalations
  • Develop and maintain a variety of communication channels among all internal stakeholders regarding the status of tax production activities and timelines
  • Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions
  • Actively pursueeffective and efficient operation of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework)
  • Sundry duties as assigned
  • Administer and reconcile financial plan exception reports for proprietary and TPF mutual funds
  • Monitor client overdrafts notify key stakeholders
  • Monitoring incoming files via Fund-Serve for TPF companies
  • Reconciliation of daily trades to sub-ledgers for equity, and fixed income products (reconciling RPM to NBCN for all daily positions)
  • Complete formal monthly regulatory NBCN reconciliation of client position
  • Perform daily pool settlement for MD PIC
  • Reconcile client interest positions and calculations for MD PIM
  • Monthly reconciliations of bulk holdings for MD PIM/ MDPT/ SERP accounts
  • Reconcile daily “cash” reports for PIM/PT/SERP (this is a daily reconciliation of both money and securities to client position)
  • Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Actively pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.

Education & Experience:

  • University degree or College diploma, preferably with a financial, tax, and/or accounting background;
  • 2 years’ experience in the Financial Services industry with an understanding of the rules related to non-registered investments and applicable tax-related issues;
  • Thorough understanding of all accounting and administrative policies and procedures as related to client transactions;
  • Experience with customer relationships management tool
  • Completion of the Canadian Securities Course, STEP and/or CSI Taxation Courses are an asset
  • Bilingualism (French/English) is an asset.

Competency Requirements:

  • Accuracy & Thoroughness – Keeps an organized work environment and shows concern for accuracy/quality.
  • Analytical Thinking – Show an ability to use logic and critical thinking to analyze situations and determine the appropriate course of action
  • Communications – Interacts with people openly and directly. Clearly communicates in a tailored manner to the required audience/situation.
  • Customer Focus – Clear focus on customer service including correcting problems correctly.
  • Decision Making – Makes routine decisions as needed.
  • Efficiency – Shows general concern for efficiency.
  • Team Focus – Expresses positive expectations and shares information.
  • Ability to manage multiple tasks, priorities and projects
  • Must be self-starter and independent task oriented, to work with minimum supervisor based on guidance from management.
  • Familiarity with regulatory/compliance aspects of tax reporting and security management
  • Excellent communication (both verbal and written) and interpersonal skills.
  • Demonstrated initiative, resourcefulness and flexibility
  • Sound capacity to assess, develop and monitor complex business processes

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.

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MD Financial Management includes MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited.