Account Associate Full-time Job

 Purpose

The Account Associate, Custody Services, provides and delivers proactive administrative and client service support to Account Managers and client portfolios of various size and complexity, servicing wealthy private clients, institutional investors and partners including investment counsellors and consultants, both internal and external to Scotiabank. The Account Associate may support specific Account Managers directly or be part of a Central Unit that supports various functions on behalf of Custody teams and other Scotiatrust branches nationally, performing in compliance with governing regulations, internal policies and procedures.

 

Accountabilities

 

• Assist the Account Manager or Central Team in providing a best in class, proactive and personalized client experience to high net worth clients and partners, exemplified by timely and accurate account administration coupled with demonstrated technical expertise, personal integrity and an ability to respond to stated and unstated client needs and concerns.
• Provide effective back-up in the absence of the Account Manager or Account Associate peers by demonstrating a detailed knowledge of the accounts and/or administrative functions and by responding to the client and partner needs in a timely manner, referring matters to other resources where appropriate.
• Proactively liaise with internal support groups (ie. GWO, SWM-Operations), to investigate and resolve issues, while also collaborating and sharing knowledge with colleagues and partners on processes, policies, and procedures.
• Process new account openings, review and set-up client files in a timely and accurate manner. Assist with the collection and validation of client documentation and AML/KYC materials.
• Process deposits, contributions, withdrawals, trade & forex and other client entries with a high degree of accuracy in accordance with policies, procedures and best practices.
• Monitor account activity and cash positions ensuring adherence to policy and procedure and identify unusual account activity or operational issues to the Manager or Market Lead.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Ensuring thorough knowledge and strict adherence to the Bank’s Global Sales Practices.
• Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls in order to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global handbook and the Guidelines for Business Conduct.
• Champions a high-performance environment and contributes to an inclusive work environment.

 

Dimensions

 

• Operates in one of 3 regional teams in Canada supporting Account Managers or the Custody Services Manager (central team Toronto) in the daily servicing of client custodial accounts.
• Daily interaction with mid-office support areas and with Scotia Wealth partners (i.e. 1832 AM LP, Jarislowsky Fraser, MD Mgmt, Private Banking)
• Independent administration of accounts with authorization to approve payments up to $10k
• Adopts and participates in various service improvement initiatives throughout the year
• Utilizes Scotiatrust’s book of record system, Broadridge/CanTrust, and associated work flow tools
• OSFI-regulated environment with developing knowledge of CRA-regulated registered plans

 

Education / Experience / Other Information

 

• Post-secondary degree or diploma
• Developing experience in financial services industry and focus on securities administration
• Strong end-user computer skills

 

Working Conditions

 

• Work in a standard office-based environment; non-standard hours are a common occurrence.

Scotiabank is one of North America's leading financial institutions, and Canada's most international bank. We provide innovative financial products and services to individuals, small and medium-size businesses, corporations and governments across Canada and around the world.