Deposit Services Administrator Jobs in Toronto, Canada at Equitable Bank
The Work !
30% – Compliance
Responsible to review investment applications to ensure compliance with our obligations under:
The Proceeds of Crime (Money Laundering) and Terrorist Financing Act & Regulations
CDIC Fast Insurance Determination Regulations
Deposit Type Instruments Regulations (DTIR)
EQB’s Policies on Broker training requirements and standards
OSFI B-8 guidance Deterring and Detecting Money Laundering and Terrorist Financing
Incumbent must be familiar with all our compliance obligations to identify deficiencies & resolve them prior to accepting any new deposit and escalating matters when required. These include individual broker compliance, application specific criteria and EQB risk scoring criteria.
20% – Customer Service:
Promptly responding to client and agent inquiries received via telephone, e-mail, or fax
Providing quality Customer Service for direct/walk in clients
Ensure customer satisfaction; must be well versed in product knowledge and features as well as policies and procedures
Be an educational resource for brokers on EQB’s regulatory, policy and product requirements
Resolving any issues that may arise and escalating as needed
15% – Application Review and Input:
Search the banking system for existing account CIF’s to review for compliance status & risk scoring value or create a new CIF record.
Ensure all required record keeping documentation has all been received in good order
Confirm receipt of the funds and the accuracy of the investment terms such as interest rate, term, issue and maturity dates etc., resolving discrepancies or recommending exceptions where and when appropriate
Input the investment details accurately into the banking system.
15% Processing:
Cashable GIC redemption requests
Maturity cheques
Bulk cheque runs
TFSA transfer requests
Estate transfers, re-registrations and/or redemptions
Pre-Authorized Deposits (PAD’s)
Broker commission reports and cheques
CANNEX electronic purchase and reconciliation files
10% – Quality Assurance:
Ensuring each application is processed accurately and is free of errors or deficiencies
All regulatory requirements are met; including AML, DTIR, agent/rep training and testing, the risk score has been properly completed & entered, and application documentation has been correctly scanned and recorded.
Applications that are not compliant must be followed up with agents or clients in a prompt and timely manner
Keep detailed records of non-compliant applications and report if necessary
Transfers/re-registrations are also reviewed for accuracy and completeness
7% Reporting and Reconciliation:
On a daily or periodic basis as required, administrators must balance and reconcile GIC journal entries to the bank statements, identifying outstanding items that need to be followed up with the TD Bank or the accounting department.
Any unbalanced items must be thoroughly investigated. This could include examining the journal entries, deposit slips, back dated items, etc.
Communicate with the accounting department regarding any reconciling items.
Produce bank statements as well as SIT generated reports such as the funding report and updating the cash flow workbook.
Produce, review & distribute monthly broker/dealer reconciliation reports.
On a daily basis review HISA net settlements on FundSERV. Compare the figure against SIT generated reports and ensure any required payments to FundSERV are made on time.
On a monthly basis, post and balance dividend and trailer fees for our HISA accounts
3% Duties as assigned:
Participate in company sponsored training or other educational /safety courses.
Filing, scanning or other duties or projects as assigned by management.
Let’s Talk About You !
Minimum 12 months’ experience in front line customer service, preferably in financial or mortgage industry
Post-secondary education
Office Administration experience
Preferred experience with broker referred GIC’s and Mutual Fund Money Market/HISA products
Strong interpersonal and communication skills – written and oral
Superior attention to detail and strong organizational skills
Self-motivated with the ability to work with little or no supervision
Ability to work independently as well as within in a group/team…
Title: Deposit Services Administrator
Company: Equitable Bank
Location: Toronto, Canada
Category:
