Requisition ID: 196701

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

This role contributes to the overall success of the Asset Servicing team within the GWO Middle Office in the UK & Globally ensuring specific individual goals, plans, initiatives are executed / achieved in line with the team’s business strategies and objectives.  Ensures all activities conducted are in compliance with governing regulations, internal policies, and procedures.

The incumbent is responsible for supporting and providing accurate information to Global Prime Services in London and the Prime Services Support Team in Toronto. The incumbent is responsible for acting as the client liaison between Global Prime Services in London and the Prime Services Support team in Toronto. The incumbent is responsible for the processing of various clerical tasks and circulation of wide-ranging information for the benefit of Trading, Settlement and Collateral groups amongst others. Coverage of some supervisory/management task when necessary due to absence.

Is this role right for you? In this role, you will:

• Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Contributes to a high-performance environment and fosters an inclusive work environment, supporting the vison/values/business strategy for the team.
• Actively pursue effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions, and conduct risk.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Ensure any potential issues are escalated immediately to your line Manager.
• Monitor mailboxes and reply to queries promptly and professionally.
• Maintain a strong relationship with counterparties.
• Maintain strong relationships with the trading desks, operations teams, and all support groups.
• Continually look to improve departmental procedures to provide more accurate or detailed information as well as cost and or time saving enhancements.
• Provide primary coverage of all Income (coupon) & redemption processing.
• Facilitate dividend claims booked across all entities for EMEA markets.
• Foreign & Domestic Claims - settle all claims, receivables, and payables with all counterparties.
• Update & reconcile dividend files based on Claim Dividend Spreadsheet information.
• Monitor coupon/redemption payments and process necessary ledger postings/journals to client(s) & designated control account(s). Process external payments to clients/counterparties using required payments system (GDMS, CDS, DTC, BNP, HSBC, Citibank)
• Prepare P&L gain/loss report for Traders, write offs for Management and process required internal journals.
• Inform front office traders of any withholding tax issues, confirm tax reclaim procedure and fees from depository.
• Daily review of control account/nostro breaks to ensure outstanding items are cleared and if not, provide narration as to why its outstanding and steps required to clear.
• Process book entries into Broadridge ADP to internal control accounts to reflect payments/allocations.
• Daily review of all cash breaks ensuring all are investigated and narrated in line with reconciliation best practices.
• Daily review of all depot breaks ensuring all are investigated and narrated in line with reconciliation best practices.
• Provide secondary coverage of Optional Dividend & Mandatory Corporate Action event processing.
• Daily interpretation of notification of Corporate Acton Events.
• Reconcile books and records on multiple internal systems and depositories.
• Monitor, calculate and process daily payments, and clear any post-paydate breaks.
• Liaise with external SBL counterparties & internal Ops teams (Settlements, MO, Collateral) & trading desks on optional dividend election and payment processing to mitigate risk on all events.

Do you have the skills that will enable you to succeed in this role? – We’d love to work with you if you have:

• Detailed knowledge of Security Operations in general and of the Corporate Actions and Income/Coupon/Redemption process, and any departments which interact with these areas – Settlements & Clearing, Reconciliations, FI & Equity Trading, Cash Funding
• Understanding of the functions of various Scotia business units we service and their needs, Especially Securities Lending & Inventory and GEF including Prime Brokerage and Swaps, and Fixed Income
• Good knowledge of Equity & Fixed Income securities and the issues that arise in connection with holding such securities.
• Strong analytical skills to effectively manage situations not covered by documented policies and procedures and to identify, assess, and react to financial risks associated with entitlements.
• Fundamental awareness of market risk, settlement risk and exposure associated with the desk and “reorg” Product.
• Strong organizational skills and the ability to effectively articulate and instruct a team when necessary.
• Excellent knowledge of the operational procedures and regulations of BNP, CITI, Euroclear, the transfer agents and other financial institutions with whom the department interacts on claims, payments, and processing of dividend entitlements.
• Thorough knowledge of securities industry procedures and conventions in domestic and foreign markets.
• Comprehensive knowledge of Dividend / Interest and associated Tax issues as they relate to the processing of payments and the movement of securities in the European markets i.e., WHT, Stamp Duty etc.
• Effective communication skills both verbal and written. Ability to read, analyze and interpret for a wide audience complex legal forms, documents and materials.
• Strong industry background and knowledge of security operations to assist in the training of new personnel and lend support to Traders and teammates when advice and/or instruction are required.
• Ability to manage caseload and respond to fluctuation volumes within tight timeframes and maintain a high degree of accuracy.
• Good operating knowledge of the Gloss Broadridge system
• Good knowledge of Microsoft Excel.

Location(s):  England : Greater London : London 

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.