Analyst, Income Processing / Asset Services

Requisition ID: 188871

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Analyst, Income Processing / Asset Services - Toronto, ON

Requisition ID: 188871

“Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.”

Global Banking and Markets

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

What You’ll Do

1 Ensures that accurate and timely processing of all cash dividends/interests/DRIP/Claims/Reorg by:

• collect and research all information associated with dividend and interest payments (record date, payable date, tax status, etc.);
• all claims (USD, CAD, and Foreign) are settled within specified time
• reconcile and process distributions to client accounts accurately on a timely basis
• process Optional Income transactions accurately on a timely basis
• review and process depository elections with specified timeframes
• respond to fluctuating volumes and maintaining a high degree of accuracy
• review reports from both external and internal sources daily DTC, CDS, CLEARSTREAM, BNP, CITI, BLOOMBERG etc and take the necessary action required

2. Ensures that the payments are reconciled and instructions are acted upon

• solve problems of an unusual nature including identifying the cause of the problem and what is required to prevent a recurrence
• take instructions and settle incoming and outgoing claims with other institutions
• claim other institutions for payments resulting from fail trades and lending positions
• review for discrepancies within BFS/ADP system and investigate
• reconcile payments with all Depositories Custodians and control account

3. Provide ongoing assistance to the Department Manager

• provide technical expertise and specialized assistance relative to Income Processing
• follow escalation procedures for any potential losses
• reconcile unclaimed dividend accounts on a daily basis
• reconcile credit balances and provide detailed backup on outstanding amounts
• train and cross-train other department staff members
• provide support on other desks in the department as required by holiday schedules, volumes and projects.

4. Responding to inquiries from other departments and branches globally and providing customer service in accordance with GWO’s policies and procedures.

• Liaise with various departments, depositories and external contacts to resolve a variety of problems

What You’ll Bring

• Good knowledge of Security Operations and Income Processing procedures especially those that relate to the processing of cash dividends, interest, splits and distributions. The processing of all tax related documents, as well as those of the departments that relate to the Income Processing area - settlements, re-org and reconciliation.
• Knowledge of the operational procedures and regulations of Clear Stream, Citi, BNP, DTC,CDS,TSX and of the transfer agents and other financial institutions with whom the department interacts on claims, payments and processing of dividend/interest entitlements, splits and stock distributions.
• Knowledge of Dividends, Interest and associated tax issues as they relate to the payment processing and reporting, Domestic and Foreign i.e. NRT, Source Tax, eligibility, record/ex/payable date implications, and different tax treatments etc.
• Acquire and maintain a thorough knowledge of BFS system in general and detailed knowledge of the DIV-Rewrite system (Broadridge application), Loan One/Global One, Arrow as they relate to income processing.

Work Arrangement: This position is currently a Hybrid role, with the expectation that you will work two days a week in the office. Please note that this is subject to change based on the needs of the business.

Interested?

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That is why we work to grow and diversify talent and engage employees in a performance-oriented culture.

What’s in it for you?

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

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.