Junior Operations Analyst – Capital Markets

Junior Operations Analyst – Capital Markets 
Location Address: Toronto once Restrictions lifted – First 3 months required to be onsite for Training purposes
Contract Duration: 6 months (Possibility for extension or Convert to FTE)
Number of Positions: 1
Schedule Hours: 9am – 5pm

Story Behind the Need
Project: TMX Post Trade Modernization
The Canadian Depository for Securities (CDS) is making extensive changes to its internal application infrastructure in an effort to modernize its service offerings. This technology upgrade will result in significant impact for all Canadian banks/brokers that utilize CDS for Clearing, Settlement, Depository, Corporate Actions and Risk functions. As a major participant of CDS, our client will engage in an end-to-end change assessment to analyze current processes, reports, and integration points with TMX utilized by Operations functions. In addition to this assessment, the bank will participate in a comprehensive industry testing cycle to ensure all impacted operational groups are prepared for any functional changes and have successfully tested all modifications to current processes and platforms.
This posting is for a temporary resource to join the GWO Asset Services team and support day to day tasks and functions as per attached job description

Reason for request: Workload

Candidate Value Proposition
The successful candidate will not only have the opportunity to gain valuable experience at a top 5 Canadian bank, but also get exposure to a number of functions within capital markets. This a long term assignment that has an opportunity for extension with good performance.

Typical Day in Role
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 pertaining to failed trades (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, CITI, BLOOMSBERG, Global 1 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 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 SCUSA’s policies and procedures.
– Liaise with various departments, depositories and external contacts to resolve a variety of problems

Must Have Skills / Requirements
1) 2+ years of experience with Security Operations and Income Processing procedures especially those that relate to the processing of cash dividends, interest, splits and distributions
2) 2+ years of experience operational procedures and regulations of Clearstream 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
3) 2+ years of experience on the Broadridge (ADP) platform
4) 2+ years of experience / 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

Nice to Have Skills
1) Customer service consistent with Scotia Service Standards and Complaint Resolution Procedures. Participate and/or assist in training/cross-training as required by management
2) Series 99 Certification

Soft Skills:
– Effective communication skills both verbal and written. Ability to read, analyse and interpret for a wide audience very complex legal forms, documents and materials.
– 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.
– Self-starter that actively engages issues seeking resolution, ability to meet dynamic changes on prioritization
– Fast, adaptable learner who can hit the ground running
– Ability to work well under pressure while demonstrating strong professionalism
-Strong investigation, prioritization, and organization skills
– Candidate must have an open mind when it comes to approach, and be able to assess each situation separately

Degrees or certifications:
– Bachelor's degree in a technical field such as computer science, computer engineering or related field required
– Certifications? Series 99 Certification is preferred

Candidate Review & Selection
– 1 Round – manager wants to move as quickly as possible