Title: Income Coordinator - 40 King Street W. Toronto, ON

Requisition ID: 14111
Join the Global Community of Scotiabankers to help customers become better off.
Job Summary
The Income Coordinator is responsible for reviewing all Foreign Corp Action elections for validity and accuracy, as well as checking the accuracy of all Notifications prior to publishing.  In addition, the individual will be responsible for all Brazil processing on positions held at Itau. This includes income payments and Corp Action processing, including working with the custodian, traders and counterparties to conclude elections effectively.
This role is also responsible for assisting with the accumulation of all relevant information and processing for Mandatory Distribution and Optional Income Foreign Corp Actions.
The incumbent responds to inquiries from other departments in the Bank such as Product Control, Reconciliation, retail branches and internal departments and ensures that all his/her duties are performed in manner consistent with Scotiabank’s standard and procedures.

Key Accountabilities

Ensures that accurate and timely processing of Corp Action Elections, Notification Publishing, and Brazil Processing:

• Review and authorize custodian/depository elections within the specified time frames
• Review and authorize Optional Income Notifications in Word and Mandatory Notifications in XSP
• Assist the Foreign Corp Action Senior Accounting Officer (as required) in reconciling client holdings with custodian positions and interpreting the terms of Corp Action Events.
• Respond to fluctuating volumes and maintaining a high degree of accuracy 
• Review Foreign Corp Action reports (as required) from both external and internal sources, BNP, Citi, CEDEL, BLOOMSBERG, etc. and take the necessary action required.
• Review Brazilian market income and Corp Action events upon receipt and take appropriate action.
• Prepare and distribute Itau Brazil Corp action notices by email as required.
• Post Brazilian cash Income on the day it is received.
• Post Brazilian Corp Action securities as soon as an accurate reconciliation is available.
  Ensures that the payments of cash and securities are reconciled and instructions are acted upon
  

• Review for discrepancies between ADP/BFS and custodians and investigating
• Reconcile payments with all Depositories Banks and control accounts.
  Provides 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 accounts on a daily basis
• Reconcile securities and credit balances and provide detailed backup on outstanding items
• Train and cross-train other department staff members
• Provide support on other desks within the department as required by holiday schedules, volumes and projects.
  Responding to inquiries from other departments and branches globally and providing customer service in accordance with Scotiabank’s policies and procedures.
  

• Liaise with various departments, depositories and external contacts to resolve a variety of problems
• Review, approve and release Wire payments on Webpost, BNP, Citi, CEDEL & Clearstream as required.
  Functional Competencies
  
  

• Good knowledge of Security Operations and the Income Processing Department procedures especially those that relate to Corporate Actions, security settlements, cash dividend/interest/claims and the processing of related tax documents as well as those of the departments that relate to the dividends area - Clearing, Reconciliations and Reorg.
• Excellent knowledge of the operational procedures and regulations of most foreign markets and CDS, TSX, DTC, BNP, BONY,CEDEL, Citibank, Euroclear, Itau, transfer agents and other financial institutions with whom the department interacts on claims, payments and processing of Corp Actions and dividend entitlements.
• Complete knowledge of Dividend/Interest and associated Tax issues as they relate to the payment, processing and reporting Canadian, US and “foreign income, i.e. NRT, eligibility, due bill activity, record/ex/payable date implications, and different tax treatments etc.
• Excellent verbal and written communication skills.
• Ability to respond to fluctuation volumes within tight timeframes and maintain a high degree of accuracy.
• Good operational knowledge of ADP/BFS system and related interfacing software such as DIVSY, XSP, ONDemand, AS400, Global1, etc.
• Good knowledge of Microsoft Excel and Word.
• Understanding the risks involve in Corporate Actions
• Strong industry background and knowledge of security operations in order to assist in the training of new personnel and lend support to co-workers when advice and/or instruction is required

Educational Requirements

• Post-Secondary Education
• Corporate Actions experience
• 1-2 years background in the securities area of a Dealer/Broker or Financial Institution. with Income Processing knowledge
• Hands on Accounting experience

Location(s):  Canada : Ontario : Toronto
As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.