Requisition ID: 95804Join the Global Community of Scotiabankers to help customers become better off.
Analyst, Corporate Actions – Maternity leave contract
Why work for Scotiabank?
Scotiabank is among the largest banks in the world and the most international bank in Canada. We are powered by our 97,000 high-performing teammates who make a real difference across the globe as a leading provider of advice, products, digital experiences, and financial services. Together with our Digital Factories around the world, we are dedicated to helping our 25 million customers become better-off.
This is a place where youll get to learn and develop your skills, while being recognized for your hard work. At Scotiabank, were passionate about bringing our whole selves to work, allowing us to create inclusive work environments for everyone to enjoy. Say hello to a career at Scotiabank!Global Banking and Markets
Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.
Position
The Corporate Actions Analyst contributes to the overall success of the Corporate Actions department by meeting the established Service Level Agreements while adhering to Bank security, operational and compliance procedures and policies. In this position you will be accountable for processing Corporate Actions, researching ad-hoc requests and answering inquiries from the various business lines the department supports. The Corporate Actions Analyst knows and understands the various complexities pertaining to Corporate Actions such as its tax consequences and reporting requirements and provisions the knowledge through their daily interactions to foster a relationship of mutual trust and confidence with the various business lines and other team members
Accountabilities
Provide support to the various business lines including BNS Group Treasury (proprietary investments), Scotia Capital Inc (CMG, GEF etc), Wealth Management (including Scotia McLeod, ITRADE, Scotiatrust, SSI, SCI), BNS Custody Services, Prime Services and various International Subsidiaries by:
Ensuring all pertinent details of an Offer are relayed in a timely manner
Establishing time frames within which the firm must work in order to ensure the correct processing and execution of clients instructions (offer date and time, trading cut-offs, CDS/DTC deposit dates, record dates etc.); Determining residency restrictions for tenders as well as defining eligible points of tender; Identifying details not always clearly indicated in material published by the Offeror (deemed dividends, tax treatment);
Securing instructions from the various business lines on/before expiry by ensuring instructions are processed or passed for execution
Coordinating, compiling and executing time sensitive instructions on physical conversions, warrants exercise etc.
Observing irregularities with security positions/instructions (pulling positions back from Tri-Party Repo/Pledge) to ensure clients instructions can be executed
Ensuring accuracy of all bookings processed to clients accounts
Responding to all inquiries with relations to bulletin publication, Proxy, dividends/interests, mandatory and voluntary corporate action processing.
Ensure that the product involved is balanced during the life of the Corporate Action and that client requests can be accommodated by:
Checking for breaks within the ADP system and investigating any outages in a timely manner;
Ensuring settlement of all owing positions
Sending or securing liabilities to/from other institutions and ensuring that they acknowledge receipt in appropriate manner and agree to make the payment we request in the currency we request.
Balancing both physical and depository positions;
Determining for each offer, if there is an advantage to hold securities at any particular depository (because of default currency, extended response deadline, etc) and advising settlements to adjust positions to the optimal location;
Advising accounts with short positions of their potential liability;
Becoming familiar with the special Trading & Settlement rules for the offer that would affect tendering on the last days of a Corporate Action
Increase client satisfaction and loyalty to enable business growth through service excellence by:
Delivering the desired client experience by consistently adhering to the Service Level Agreements during all interactions
Establishing confidence and knowledge by ensuring answers to inquiries are thoroughly researched and accurate
Demonstrating respect, flexibility and expertise in every interaction through resolving customer concerns and/or escalating as appropriate
Acquiring and maintaining a thorough knowledge of the various functional areas of the Corporate Actions, Settlements and Income Department which includes automated and non-automated systems, functions and products as well as building effective working relationships across the various teams and business lines
Providing training/cross-training as necessary Requirements
Detailed knowledge of Security Operations in general and of the Corporate Actions department and those departments which interact with the Corporate Actions area – Clearing, Settlements, Dividends, Reconciliations, Transfers, Trading, Contracts, Cash & Liquidity, Syndication and Proxies.
Understanding of the functions of various Scotia business units we service and their particular needs, including Lending & Inventory, Scotia Capital Markets, Corporate Banking, Investment Banking and Prime Brokerage.
Excellent knowledge of the operational procedures and conventions of the various depositories/transfer agents the area interacts with – CDS, DTC, Clearstream, HSBC, BNP Paribas, Citibank and various transfer agents, law firms and companies.
Strong organizational skills and the ability to effectively work with others as a team.
Appreciation of risk with relation to foreign exchange where it is an issue.
Fundamental awareness of market risk and exposure associated with the desk and reorg product.
Knowledge of Escrow protocols and the flexibility & knowledge to deal with Private companies.
Ability to respond to fluctuating volumes within predefined timeframes, maintaining a high degree of accuracy due to the high-risk nature of processing voluntary corporate actions.
Good operating knowledge of the ADP system in general, a detailed knowledge of the ADP REOR system and good PC skills (Word, Excel, Access Database) Internet, Email, Bloomberg, CDS system, DTC, GLOSS etc.
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.
Post-Secondary education with a focus in business or finance is an asset.
Minimum of two years Corporate Action experience required. Industry background and knowledge of security operations. Sound knowledge of Corporate Action processing (Mandatory & Voluntary), stock borrows/ loans transactions and liabilities, Income processing and various market entitlements compensations (Trade date vs settlement date market).
Location(s): Canada : Ontario : Toronto
As Canada’s International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Banks six guiding sales practice principles to ensure they act with honesty and integrity.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.