Job Description

Requisition ID: 143377

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Global Wealth management Operations - Account Maintenance - Financial
This role is hybrid and requires working from our Toronto downtown office 2-3 days per week.
Purpose of Job
The position is accountable for the various processes and procedures relating to the Scotia Capital Inc. and Scotiatrust business lines operation of registered accounts (i.e. Registered Retirement Savings Plans, Registered Retirement Income Plans, Registered Education Savings Plans, Tax Free Savings Accounts, etc.) The incumbant must focus on 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), various provincial acts, QI (Qualified Intermediary for the United States Internal Revenue Service) and CDIC. The incumbent will be expected to work with management of Global Wealth Management (GWM) operations to interpret new legislation and operationalize the required changes to mitigate risk for the bank. This incumbent will require initiative and leadership skills to coordinate with various stakeholders, including other GWM operations teams, retail business management, Legal Counsel, Taxation and others as required.
Major Accountabilities:
Maintain documentation – Registered Plan application forms, declaration of trust documents, and relevant addenda, and other applicable forms – in accordance with required federal and provincial legislation. Work with the Forms Unit and Wealth Management mid-office to maintain the forms on the appropriate Wealthnet locations; and work with mid-office on any account opening system updates (i.e. Wealthone, etc.) as required. (As required) Wealthnet \ WealthLink - Review and update as applicable the departmental intranet sites. Work with appropriate departments to maintain updated Registered Product information on Wealthnet and WealthLink. (As required) Locked-In Plan Review - Review the applicable lock-in legislation by province/federal and set-up and implement any applicable actions required to be taken based on such legislation. (One-time review and annual requirements) Front-facing communication to the field: The above functions will require the incumbent to be responsible for direct contact with the field regarding departmental issues. This will require excellent communication and interpersonal skills, both verbal and written form. The incumbent will also be required to be familiar with the ISS Registered Product department’s policies and procedures (as listed on Wealthnet) to accurately respond to the field’s inquiries. QI – Treaty Statement – Monthly review of the previous month’s non-resident accounts, and preparation of the “Treaty Statement” document to be signed by the Trustee (Scotiatrust) within 5 business days of the previous month-end. On-going communications with the ScotiaMcLeod field, Scotia Direct Investing, and Scotiatrust (C191) to update relevant non-resident accounts as to their tax treatment for US source income. (Monthly) CDIC – Canadian Deposit Insurance Corp. – Prepare and submit annual filing to Scotiabank finance department for CDIC coverage for registered product cash balances held at Scotia Capital and Scotiatrust (191). (Annual in April/May of each year) Standard Operating Procedures (SOP) – Work with Registered Products dept. staff to review current departmental processes and any written/unwritten procedures. Create a written work flow/procedure document for each process/activity that can be used for training and audit purposes. (As required) Projects and On-Going Support: Adhoc queries, TFS - Tax Support, RESP un-resolved transfers; other duties and administrative support as assigned/required.

Functional competencies

The incumbent will be required to have the following competencies:

• Strong management skills and experience leading teams
• 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 senior management.
• Familiarity with regulatory/compliance aspects of registered retirement programs
• Strategic and analytical attributes.
• Excellent communication and interpersonal skills
• Business education and/or investment industry experience

Location(s): Canada : Ontario : Toronto

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. 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.