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Start Date 9/24/2013
Title Investment and Estate Specialist
Summary Under broad managerial direction, and in the capacity of subject matter expert, this position provides guidance and support to both internal and external clients, working to establish mutually beneficial relationships to both enhance BlueShore Financial’s product and service offerings and to ensure industry compliance. This position is responsible for seeking out innovative solutions and implementing process improvements to minimize administration at the branch level and to enhance the client experience. In its risk management capacity, this position is responsible for both identifying risk and potential risk and ensuring compliance to internal and regulatory requirements. As part of a cross-functional team, this position is required to achieve and maintain a high level of cross-functional knowledge; ongoing learning and development is required.

Description Registered Plan Services

• Keeps abreast of legislative changes and ensures compliance and timely communication; including developing and updating of policies, procedures and forms on the intranet

• Establishes mutually beneficial relationships with government agencies, suppliers, peer groups etc. to facilitate the exchange of business information, ideas and support. Keeps current on market trends and new products and services being offered

• Identifies and documents system issues, requirements and enhancements; meets with developers, performs testing and ensures system is year-end ready

• Processes routine and complex transactions including incoming and outgoing plan transfers, transfers upon marriage breakdown, RRSP to RRIF conversions, creating and updating of RRIF payment schedules etc.

• Audits new plan openings, transactions, beneficiary changes and maintenance activities

• Opens RESP and RDSP plans, performs plan maintenance and issues client statements. Processes RESP and RDSP transactions including contributions, withdrawals, transfers and investment purchases

• Ensures completion of year-end and start-of-year fulfillments including RRIF payments, verification of new minimums, maximums and scheduled payments and issuance of annual RRIF notices

• Reconciles and remits weekly and monthly withholding taxes

• For registered and non-registered accounts, performs year-end verifications, issues and files tax slip information, processes amendment, cancellations and rejected transactions and works with CRA to resolve issues

• Files plan registrations and plan amendments

•Processes group and staff RRSP contributions and pre-authorized contribution requests

Mutual Fund Processing, Compliance and related activities

• Keeps abreast of legislative, industry and dealer announced changes and, if applicable, ensuring timely communication

• Works with internal departments to provide input and support for various credit union initiatives

• Prepares scheduled monthly, quarterly and annual CAM compliance and operational communications such as the Monthly Rep Change Report, BCM Quarterly Report and Annual Compliance Reminder

• Compiles various reports for internal use including Assets under Management and Commission reports and Error and Adjustment Log

• Coordinates such activities as dealer audits, annual registration and E&O insurance renewals and fee administration

• Facilitates MFIS, BCM and BAO registration activities including new registrations, transfers, reporting of material changes and terminations

• Responds to inquiries and requests from CAM Provincial Compliance Officer

• Conducts daily review SupervisionEnsight, performs Hold and Return mail audit, CRM new plan audit and reviews leverage trade activity and trust account and GIC reconciliations

• Processes CAM mutual fund transactions and adjustments, PAC and EFT set-up, cancellation and changes, client re-assignments, KYC updates and CAM GIC processing

• Processes CSI GIC purchases and redemptions, daily Deposit Blotter transactions, trust account reconciliation, interest remittance and delivery of Corporate Actions

Estate Services

• Keeps abreast of legislative changes and ensuring compliance and timely communication including; development and updating of policies, procedures and forms on the intranet

• Establishes and maintains a network of estate resource specialists and, where necessary, providing guidance and/or assistance for resolution

• Identifies and confirms ownership of account holdings with BlueShore Financial and/or affiliates

• Performs account maintenance and ensures all appropriate controls are in place to mitigate risk including: cancelling cards, updating account ownership, restricting access to accounts etc.

• Reviews and prepares account records including interest paid and accrued and account balances as of the date of death

• Prepares letters of direction to personal representatives and responds to inquiries from lawyers

• Determines payment of invoices without court documents, if appropriate i.e. funeral expenses, probate fees

• Determines and ensuring the proper estate documents have been received prior to releasing funds

• Settles accounts including registered plans

• Logs activities and communications in CRM and routinely following up on pending activities

Self-Directed Services

• Keeps abreast of legislative changes and ensuring compliance. Creates and updates forms and agreements used to facilitate self-directed business

• Opens plans, performs plan maintenance and responding to routine and complex inquiries from clients and potential clients pertaining to accounts and plan offering

• Funds mortgages, sets up and processes mortgage payments, chargebacks, renewals, modifications, payouts and discharges

• Assists in the onboarding of new Mortgage Investment Corporation products

• Reconciles trust account and performs various audit functions

• Processes routine and complex plan transactions including contributions, redemptions, transfers, GIC purchases, RRIF payments and RRSP to RRIF conversions

•Facilitates purchases of Mortgage Investment Corporation shares, posts cash and reinvested dividends and processing redemptions and re-registrations

• Calculates and processes annual administration fees

• Reconciles and remits tax files, issues tax slips and files plan registrations

• Issuing monthly and quarterly statements

Deposit Agency Services

• Handles inquiries from potential agents, assists in the vetting and approval of applications and setting up of new agents

• Handles agent inquiries regarding rate, rate guarantees and inquires related to accounts, clients and product offering

• Audits new account documents and opens accounts

• Processes term setups and issues term confirmations

• Processes term renewals and payouts, issues cheques for maturity and/ or interest payments

• Performs account and plan maintenance including address changes, beneficiary changes and change to payment instructions

• Processes registered plan transactions including contributions, T2033’s incoming and outgoing, RRIF payments and RRSP to RRIF conversions

• Processes estate payouts

• Prepares monthly agent holdings reports

• Prepares monthly commission cheques and invoices and clawbacks on early redemptions

• Keeps abreast of regulatory requirements and ensuring forms, agreements, guides etc. are compliant

• Ensures agents have fulfilled their annual compliance requirements including providing proof of AML course completion and that E&O insurance is in force

Skills • Communication (verbal/written)
• Training and coaching
• Interpersonal
• Proficient computer skills
• Administration
• Organizational
• Interpersonal
• Time management

Knowledge • 4-6 years in the financial services industry
• Solid understanding of registered plans and regulations pertaining to registered plans and taxation
• Solid understanding of mutual funds and mutual fund compliance
• High School or equivalent plus post-secondary courses – business, accounting, computers, etc.
• Solid understanding of various computer applications including Microsoft Office, Microsoft Excel, Snagit and Front Page

Attributes • Self-awareness
• Commitment to Client Intimacy
• Team Oriented
• Self-managed
• Continuous Learner
• Attention to detail
• Decision maker
• Problem solver
• Resourceful/Inquisitive
• Positive Outlook
• Trustworthy

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