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Assistant Manager – Corporate Actions


This is a Contract position in Ottawa, ON posted July 16, 2021.

Requisition ID: 109575 Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

– CORPORATE ACTIONS PROCESSING ABOUT THE TEAM The Corporate Actions unit is the only such unit in the Bank and is directly responsible for providing related services to BNS Group Treasury, Scotia Capital, Wealth Management BNS Custody Services, and various international subsidiaries.

There is potential for significant ($100,000) financial loss as a result of incorrect interpretation of corporate action material, processing error or delays.

As well, processing errors can have significant client implications as transactions routinely affects thousands of accounts.

PURPOSE You will assist with managing the Voluntary/ Mandatory Corporate Actions processing unit and is responsible for ensuring: A high degree of processing accuracy, efficiency, and management control is maintained; The risks inherent in voluntary/ mandatory corporate actions processing is identified, understood, and controlled so that financial losses due to misinterpretation of information or processing error are avoided; and A high quality of customer service is provided to internal clients including Prime Services, BNS Group Treasury, International Subsidiaries, Scotia Capital Inc, Wealth Management, Scotiatrust, Scotia Private Client Group and BNS Custody Services.

MAJOR ACCOUNTABILITIES Ensure operational efficiency of the Voluntary/ Mandatory Corporate Actions processing unit is maintained at a high level in accordance with approved policies and procedures by: Organizing, prioritizing and supervising transaction volumes and workloads and deploying staffing resources as required; Ensuring information pertaining to mandatory and voluntary corporate actions received from various sources (Securities Depositories / Transfer Agents / Sub-custodians) are accurately interpreted; Monitoring work in progress via various Reorg Expiry Reports, Reorg Calendar to ensure client instructions are received and processed within required time frames; Checking / authorising transactions as required based on related risk and complexity including identifying in-the-money events and taking appropriate action; and Identifying and pursuing opportunities to improve processing efficiency and/ or reduce risk.

Ensure risk inherent in optional corporate actions processing is understood, identified, and controlled through the maintenance of effective procedures & management controls including: Ensuring control accounts and aged transfer reports are reviewed and updated daily and out of balance amounts are resolved; and Regularly reviewing and challenging existing procedures and controls to ensure effectiveness.


Ensure a high degree of customer service is provided to internal clients by: Establishing and maintaining a high degree of processing accuracy; Ensuring client inquiries are responded to in a prompt and professional manner; Participating in Wealth Management Branch Admin conferences to establish open lines of communication between front /mid and back office for problems to be quickly understood and addressed; and Acting as subject matter experts in consultation with internal clients with respect to voluntary/ mandatory corporate actions.


Manage and develop staff by: Setting goals and performance expectations and providing ongoing performance feedback and, as needed counsel, coaching or training; Supporting the Performance Management Program which includes feedback for performance appraisals; Ensuring the ongoing training of staff on related operating procedures, systems and market conventions; and Maintaining an environment that encourages teamwork, interdependence and ethical behavior.

KNOWLEDGE, SKILLS AND COMPETENCIES Securities knowledge gained through financial services background and completion of industry related courses and a Commerce or Business Degree; Knowledge of industry standards and related procedures dictated by Securities Depositories (CDS, DTC) Transfer Agents, and Sub-custodians (BNP, Clearstream, HSBC, Euroclear, etc.) for voluntary/ mandatory corporate actions, and a strong knowledge of legal terminology specific to corporate actions; Knowledge of banking policies and procedures related to voluntary/ mandatory corporate actions and a sound understanding of other aspects of Securities Operations, especially Income Processing, Tax reporting, Trading, Contracts, Settlement and Clearing , all of which can interact with, impact, or be impacted by corporate action processing; Strong knowledge of related processing systems specific to corporate actions processing; including, ADP (REOR, ZRSP, ZCBC/A, DIVSY), CDS, DTCC, BNP, HSBC, Clearstream, Euroclear, Bloomberg; Strong organizational skills including the ability to effectively prioritize, delegate, and multi-task; Good leadership skills necessary for assisting with the management of staff to ensure day to day efficiency and control of corporate actions processing; Strong analytical skills in order to effectively manage situations not covered by documented policies and procedures and to identify, assess, and react to financial risks associated with voluntary/ mandatory corporate actions; Strong PC skills (MS software packages, web tools, etc) and good technical skills necessary to understand and effectively utilize service provider’s processing applications; Demonstrated ability to work under pressure due to stringent processing deadlines, unexpected volumes (emails/ events), and risk of significant financial loss related to processing errors; and Strong verbal and written communication skills.

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.