Accounting & Finance | Trust Associate - FT
As a Trust Associate in a Scotia Wealth Management Office, you provide proactive administrative and client service support to a Trust Officer and their account portfolio of varying size and complexity with the day-to-day oversight and account administration for client, beneficiary and Co-Trustee relationships.
While discussions with Co-Trustees, beneficiaries, clients, their advisors and the business community will generally be the responsibility of the Trust Officer, the Trust Associate will frequently deal with external contacts, gather and relay information and is designated as the point of contact in the absence of the Trust Officer.
Is this role right for you? In this role, you will:
- Assist the Trust Officer with providing a best in class, proactive and personalized client experience to high net worth clients and beneficiaries, exemplified by timely and accurate account administration coupled with demonstrated technical expertise, personal integrity and an ability to respond to stated and unstated client needs and concerns.
- Provide effective back-up in the absence of the Trust Officer by demonstrating a detailed knowledge of the accounts and responding to the client and beneficiary needs in a timely manner, referring matters to other resources where appropriate.
- Maintain daily surveillance over cash positions and provide reports for any cash positions that require remedial attention. Create/input accurate and timely accounting entries for payments to third parties realization of assets, fee collection, referring all unusual items for further action as required. Prepare detailed fee calculations in Estate and Trust accounts in accordance with fee agreements or local judicial/industry practice
- Assemble information regarding assets in new accounts (including research into the tax costs) and ensure the preparation of the opening inventory/Record of Trust. Set up client and asset information on the Trust including the creation and maintenance of diaries to provide for such matters as fixed remittances fee processing, investment reviews and statement production.
- Prepare routine correspondence and documentation, including draft documentation in respect of matters that policy requires be submitted to the appropriate internal oversight groups concerning beneficiary/court approval of fees and statements;
- Champion a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Ensure thorough knowledge of, and strict adherence to, the Bank’s Global Sales Practices.
- Actively pursue effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
- Champion a high-performance environment and contributes to an inclusive work environment.
Do you have the skills that will enable you to succeed in this role? We’d love to work with you if you have:
- Proactive with a proven track record of providing a best in class client experience
- Proven aptitude to learn new concepts and readily apply them to day to day tasks
- Strong interpersonal and verbal communication skills
- Strong time management skills and a proven ability to multi-task
- High School Diploma
- Enrolment in Financial Industry courses
- CSC, IFIC, STEP Canada, ICB.
- Working knowledge of asset management and administrative procedures
- Strong PC Skills
- Basic knowledge of Trust Accounting principles
