Chief Financial Claims Officer

4 days ago


Toronto, Ontario, Canada Scotiabank Full time

As a key member of the Scotiabank team, you will play a crucial role in supporting the overall success of the Claims Management Team. Your responsibilities will include facilitating dividend claims, sending claim letters to concerned parties, and processing payments via various methods.

Key Responsibilities:
  • Facilitate Dividend Claims: Ensure all regional Scotia entities are updated with accurate information regarding dividend claims.
  • Manage Correspondence: Send Foreign & Domestic Claim letters to concerned counter parties and settle North American and global claims receivables and payables.
  • Update Reconciliation Files: Utilize the Claim Dividend Spreadsheet from upstream dividend distribution teams to update Reconciliation files.
  • Process Payments: Monitor incoming payments and process necessary journals in designated control accounts using payment methods such as CDS, DTC, BNP, HSBC, Citibank, BESS, etc.
  • Reconcile Account Activity: Regularly review and monitor account activity in the Money Line Balance to ensure accuracy and timely updates.
  • CDS Elections: Process CDS elections and collaborate with traders to resolve any discrepancies.
  • Trade Setup and Confirmation: Set up and confirm CDS trades and investigate failed trades to minimize delays.
  • FX Processing: Process FX for DTC allocation to ensure smooth transactions.
  • P&L Gain/Loss Reporting: Prepare P&L gain/loss reports for Traders and write-offs for Management while processing journals.
  • Back-Sheet Download: Perform daily downloads of back-sheet data to stay up-to-date.
  • Email Monitoring: Monitor Generic emails related to Scotia claim, dividend claim, and ISS foreign email inquiries and respond promptly and professionally.
  • Tax Reclaim Procedures: Inform front office (traders) about withholding tax issues, confirm tax reclaim procedures, and fees from depository.
  • Control Accounts Review: Conduct daily reviews of control accounts to identify outstanding items and provide clear narration on why they are outstanding and steps required to clear.
  • Tax Reclaim Notification: Notify the tax group to process tax reclaim and/or IRS payment as well as QSL for year-end tax reporting.
  • CORP Actions Release: Release and settle relevant corporate action events/tickets in GLOSS system.
  • Fund Depots: Ensure depots are funded with appropriate currencies before releasing events in GLOSS.
  • Counter Party Relationship Maintenance: Develop and maintain strong relationships with counter parties by confirming and paying/receiving dividend claims.
  • Trade Desk Collaboration: Foster collaboration with the trade desk to confirm trades, investigate discrepancies, and verify booking percentages.
  • Book Entries: Process book entries into Broadridge ADP to internal control accounts reflecting payments/allocation.

Requirements:

  • Corporate Actions and Entitlement Processing Knowledge: Possess knowledge of corporate actions and entitlement processing principles.
  • Trading Regulations: Familiarity with trading regulations specific to various markets.
  • SWIFT Payment Knowledge: Understanding of SWIFT payment systems and processes.

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