Scotiabank

Senior Accounting Officer Reorgs

Toronto, Ontario, Canada

POSITION SUMMARY:

Securities Operations is the back-office support unit for Scotia Capital Inc, Scotia McLeod, Scotia McLeod Direct Investing, Group Treasury, Scotia Trust and Scotia Cassels. Securities Operations is seeking a Senior Accounting Officer to join the Securities Operations Reorganizations team. The Senior Accounting Officer administers the multi-faceted specifics associated with effectively expediting voluntary corporate actions for the firm. Timely response to front-office inquiries and instructions are required. Ongoing assessment of current market value versus underlying products is necessary for prioritizing expiries, assessing market risk and providing expected level of customer protection within a deadline oriented environment. The Senior Accounting Officer will be responsible for processing and controlling of all mandatory corporate actions and will ensure that all duties are performed in a manner consistent with Securities Operations standards and procedures.

Key accountabilities for this role:

• Ensuring efficient of retail branches and traders communication of client instructions by compiling client instructions for appropriate flagging of accounts and balancing of the same within the ADP Reorganization system.
• Advising acceptable format for instructions and clarifying ambiguous and/or erroneous instructions
• Securing instructions from Traders or Administrators of firm inventory accounts
• Advising branches on/before expiry on dealing with positions received in ineligible centres to arrange alternate methods of delivery by expiry
• Observing irregularities with security positions
• Ensuring that the product involved is balanced during the life of the offer and that client requests can be accommodated by checking for breaks within the ADP system and investigating outages.
• Ensuring settlement of all owing positions
• Sending or securing liability to/from other institutions and ensuring that they acknowledge receipt in appropriate manner
• Balancing both physical and depository positions
• Advising accounts with short positions of their potential liability
• Ensuring timely presentation of properly documented securities for tender as well as subsequent processing of payments to client accounts by:
o Determining trading rules for the issue at hand
o Monitoring of trading and settlement of/protection on cash trading on expiry date
o Advising management of potential losses to clients
o Advising Cash Management of any excessive cash movements which could affect the firm’s cash position
o Providing beneficial holder breakdown of depositors to ensure collection of correct solicitation fees
o Accurately processing of all proceeds of the offer owing to client accounts
o Co-ordinate mailings of Tax packages with ADP system
o Maintaining accurate records of statistics to measure departmental volumes
o Assisting in the training of new employees and lending support to colleagues when required


QUALIFICATIONS:

• Detailed knowledge of Securities Operations in general and of Reorganizations ideal along with Clearing, Settlements, Dividends, Reconciliations and Trading procedures
• Excellent knowledge of operational procedures and conventions of the various depositores/transfer agents such as CDS, DTC, Merrill Lunch, BoNY, CIBC Mellon, Computershare, etc
• Strong organizational skills and the ability to multi-task and prioritize are requires.
• Ability to respond to fluctuating volumes within predefined timeframes
• Attention to detail and accuracy are required
• Fundamental knowledge of market risk ideal
• Strong computer skills in MS Word and Excel. Knowledge of or experience working with ADP system an asset
• Effective communication skills in both written/verbal English required


EDUCATION AND ACCREDITATIONS:

• Post-Secondary education in Commerce, Finance, Accounting or Business an asset
• Completion of Canadian Securities Course an asset


OTHER INFORMATION:

• Location: King and Bay, Toronto
• Overtime may be required during busy periods



The Scotiabank Group 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.