Registered Product Administrator is answerable for knowledge of the diverse tactics and processes regarding the operation of registered training financial savings, tax unfastened financial savings, registered retirement financial savings, registered retirement earnings plans, and locked-in plans across all enterprise traces serviced, for transactions asked by way of the sector. The incumbent needs to attend to ensure that the various accountabilities are processed to the highest trendy as per regulatory necessities under the profits tax act (overseen through Canada revenue enterprise) and various provincial acts.
The focal point of the placement consists of communications with the serviced business strains (scotiamcleod, itrade, and scotiatrust) front-workplace body of workers concerning consumer transactions for registered plans. Such communications could encompass answering questions related to legislation and governing regulations for all styles of registered plans offered at those businesses. As well, inquiries encompass the ones related to techniques and tactics for transactions, which includes accurate bureaucracy to finish. Incumbents are required to adhere to set carrier level agreement (sla) timeframes.
The incumbent is required to review transaction requests and any accompanying documentation to make sure accuracy and completeness prior to the incumbent processing stated objects.
1. Overview and procedure transactions in resp accounts (i. E. Payments, contribution modifications, swaps, and so on.) and preservation of national records.
2. Review forms remitted to technique request;
ensure calculations are accurate as to kind of requests and allowable inside set governmental limits.
3. Monthly and annual submitting for offers and different incentives from the Canada training financial savings software, the Quebec education savings incentive (qesi) and government incentive applications as required.
4. Analyze, solve problem objects: for trouble problems introduced to the incumbent’s interest from the sector, the incumbent ought to examine the problem, recommend quality answers and take action on corrections as agreed to through the supervisor. If required increase troubles/proposed solutions to their control for similarly evaluate or moves. The response is predicted inside set time frames
5. set up earnings plans (rif/lif/lrif) charge profiles and technique payments for rif bills as required;
make sure accuracy of tax costs, inclusive of the unique state of affairs quotes (eg:
over minimum amounts taxable at the full-year rate for systematic plans)
review and method “unlocking” transactions:
diverse provinces and the federal authorities have brought regulation allowing clients to get admission to certain locked-in price ranges. Incumbents have to evaluate required government and firm documents submitted previous to processing such withdrawals. The incumbent should make a certain calculation as to the withdrawals (eg:
only positive quantities primarily based on switch transactions may be allowed). Failure to make sure the accuracy of processing ought to result in legal responsibility to the financial institution for locked-in “pension price range” incorrectly “unlocked”. Evaluation and technique special withdrawals/transfers/transactions:
refunds of extra contributions, marriage breakdown transfers, cash modifications, internal transfers, domestic purchaser’s and lifelong mastering withdrawals, bankruptcies and ccpcs (Canadian controlled non-public corps);
overview all documentation furnished with the aid of the sphere on such transactions previous to the final touch of the transactions. Failure to make sure transactions comply with all applicable guidelines and forms required may want to position the bank in a position of financial liability and reputational chance. Issue duplicate and amended tax receipts for contributions or transfers as requested by the sphere. Evaluate and set up pre-authorized contribution (%) applications;
make sure timeliness of set-America and correction/amendments which impact clients’ debts.
Overview exception/non-exception reports as assigned to ensure that transactions processed adhere to scotia capital and scotiatrust processes as well as for CRA/ESDC (for resp debts) guidelines and guidelines;
sundry responsibilities as assigned. Practical abilities
The incumbent will be required to have the following competencies:
- Ability to manage multiple tasks, priorities and projects
- Must be self-starter and independent task oriented, to work with minimum supervisor based on guidance from senior management.
- Familiarity with regulatory/compliance aspects of registered retirement programs in particular but not limited to rules pertaining to the Canada Education Savings Grant, Canada Learning Bond, Enhanced Canada Education Savings Grant and Provincial Grants
- Strategic and analytical attributes.
- Excellent communication (both verbal and written) and interpersonal skills;
- Business education and/or investment industry experience.
- Accuracy &
Thoroughness – Keeps anorganized work environment and shows concern for accuracy/quality.
- Analytical Thinking – Breaks down problems.
- Communications – Interacts with people openly and directly. Clearly communicates in a tailored manner to the required audience/situation.
- Customer Focus – Clear focus on customer service including correcting problems correctly.
- Decision Making – Makes routine decisions as needed.
- Efficiency – Shows general concern for efficiency.
- Team Focus – Expresses positive expectations and shares information.
Minimum Post-secondary education or equivalent work experience.
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 Bank’s 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.