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The Corporate Actions Manager, manages the Corporate Actions processing unit and is responsible for ensuring:
*Corporate action information received from depositories, custodians and other sources is accurately interpreted and distributed to internal and external clients within hard deadlines.
*A high degree of processing accuracy, efficiency, and management control is maintained
*The high degree of risk inherent in corporate actions processing is identified, understood, and controlled so that financial losses due to misinterpretation of information or processing error are minimized.
*A high quality of customer service is provided.
1. Ensure operational efficiency of the Corporate Actions unit is maintained at a high level in accordance with approved policies and procedures by:
*Organizing, prioritizing and supervising transaction volumes and workloads and deploying staffing resources as required
*Ensuring information pertaining to mandatory and voluntary corporate actions received from various sources (Securities Depositories / Transfer Agents / custodians etc.) is accurately interpreted and clearly documented in a condensed notification and released timely to internal and external clients
*Monitoring work in progress to ensure client instructions are received and processed accurately, within required time frames.
*Checking / authorizing transactions as required based on related risk and complexity.
*Identifying and pursuing opportunities to improve processing efficiency and / or reduce risk.
2. Ensure risk inherent in corporate actions processing is understood, identified, and controlled through the maintenance of effective procedures & management controls including:
*Ensuring control accounts and aged transfer reports are reviewed daily and out of balance amounts resolved timely.
*Regularly reviewing and challenging existing procedures and control to ensure effectiveness.
3. Ensure a high degree of customer service is provided to internal clients by:
*Establishing and maintaining a high degree of processing accuracy within the team
*Ensuring client inquiries are responded to in a prompt, professional manner.
*Participation in Wealth Management Branch Admin conferences to establish open lines of communication between front /mid and back office, so problems can be quickly understood and addressed.
*Act as subject matter expert in consultation with internal clients with respect to corporate actions.
4.Manage and develop staff by:
*Setting goals and performance expectations and providing ongoing performance feedback and, as needed counsel, coaching or training;
*Supporting the Performance Management Program including preparation of performance appraisals and applying Performance Improvement Practices, as required
*Ensuring the ongoing training of staff on related operating procedures, systems and market conventions
*Minimum 10 years experience in the industry
*Expert knowledge of industry standards and related procedures dictated by Securities Depositories (CDS, DTC) Transfer Agents, and Custodians (BNP, Clearstream, Citi, Euroclear) etc.) for corporate actions, and class action processing and a strong knowledge of legal terminology specific to corporate actions.
*Expert knowledge of Bank policies and procedures related to corporate actions and a sound understanding of other aspect of Securities Operations, especially Income Processing, Tax reporting, Trading, Contracts, Settlement and Clearing , all of which can interact with, impact, or be impacted by corporate action processing.
*Strong knowledge of systems related to corporate actions processing; including: Broadridge , Dataphile, CDS/Arrow, DTCC, BNP, Clearstream, Citi, Euroclear , Bloomberg and Anvil.
*Strong organizational skills including the ability to effectively prioritize, delegate, and multi-task. in a fast paced, deadline driven, high-risk environment
*Strong analytical skills in order to effectively manage situations not covered by documented policies and procedures and to identify, assess, and react to financial risks associated with corporate actions.
*Strong PC skills (MS software packages, web tools, etc) and good technical skills necessary to understand and effectively utilize service providers processing applications.
*Demonstrated ability to work under considerable pressure which is regularly encountered due to stringent processing deadlines, unexpected volumes, and risk of significant financial loss related to processing errors.
*Strong reconciliation skills to assist with complex reconciliation breaks
*Comprehensive understanding of the tax consequences and other details/terminology relevant to Corporate Actions
*University Degree or Equivalent Experience.
*Very familiar with corporate actions
*Open minded and flexible to remain objective when presented with different ideas and able to adapt within a changing environment, and shifting priorities, as required.
*Overtime is required.
Scotiabank is an equal opportunity employer and welcomes applications from all interested parties. We thank you for your interest, however, only those candidates selected for an interview will be contacted. No agencies please.
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