Requisition ID: 111590
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose of Job
The Group Registered Products - Group Products Administrator is accountable for knowledge of the various processes and procedures relating to the Scotia McLeod, Scotia iTrade and Scotia Trust PAC and Payroll Business administered by Account Maintenance- Financial. The incumbent must focus on ensuring that the various accountabilities are processed to the highest standard as per departmental procedures and applicable regulatory requirements under the Income Tax Act (overseen by Canada Revenue Agency).
The focus of the position includes communications with Scotia McLeod, Scotia iTrade and Scotia Trust. Such communications would include answering questions related to group PAC/Payroll processing. As well, inquiries include those related to processes and procedures for transactions, including correct forms to complete. Incumbents are required to adhere to set Service Level Agreement (SLA) timeframes.
The incumbent is required to review transaction requests and any accompanying documentations to ensure accuracy and completeness prior to the incumbent processing said items.
1)-Process transactions as below for group payroll plans and PAC's offered by Scotia McLeod, Scotia Trust and Scotia iTrade. Additionally the incumbent processes "standard" payroll groups as assigned. Actions involved in this processing include:
a)-Processing payroll file transmissions from group companies, book commissions to Scotia McLeod advisors and ensure all aspects of the payroll file processing are balanced;
b)-Updating "invalid" accounts, identify entries not passed through the system and amend accordingly;
c)-Correct and amend entries to client accounts where payroll transmissions are not being sent properly, or accounts have been set-up incorrectly in the trading system;
d)-Maintain and reconcile control accounts and prepare reconciliation spreadsheets; balance payroll control accounts for money and stock component of the groups
e)- Set up and maintenance of SIP and SWP events as requested
2)-Front-line field communications on PAC's and Group Plans: each Group Registered Products Payroll Administrator is assigned as the primary contact for specific group plans. Incumbents receive phone calls, emails, written correspondence on inquiries as to rules, process and procedures for the types of plans offered within certain groups (eg: Group RSP, DPSP, TFSA, and Non-registered plans). Incumbent is expected to reply within set timeframes with replies consistent to firm policies and/or applicable legislative rules.
3)-Communication with external/internal parties: Assist, answer and guide sales support staff and external Client Company contacts with various queries including payroll questions, data file formats, data file transmissions, Federal and Provincial Government regulations, etc. as applicable for group plans.
4)-Analyze, resolve problem items: For problem issues brought to the incumbent's attention from the field, the incumbent should analyze problem, propose best solutions and take action on corrections as agreed to by the field. If required raise issues/proposed solutions to the Sr. Assistant Manager or Sr. Manager for further review or actions. Response is expected within set time frames.
5)-The Group Product Administrator is responsible for the processing group withdrawals, accounts restrictions, internal transfers and group PAC transactions in the Group Products dept in accordance with the established service levels, policies and procedures of the Department and in accordance with the requirements of regulatory bodies such as the MFDA and IIROC.
6)-The Group Products Administrator Acts as back up for other Administrators.
7)-Sundry duties as assigned, including special projects for group accounts as required by the department senior manager.
The incumbent will be required to have the following competencies:
• 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 (both verbal and written) 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. 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. Job Segment:
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