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Corporate Action & Entitlements Operations Analyst

Toronto, , Canada

Job Description:

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.  In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market. 

Description

We are looking for an Operations Analyst to join our Asset Servicing team. The Asset Servicing group provides the following:

  • Timely notifications of corporate actions, entitlements and proxy notices

  • Tax reporting for clients to both CRA and IRS

  • Reconciliation of events and claiming (payables and receivables)

Reporting to the Assistant Vice President of Asset Servicing, the Operations Analyst will need to understand and analyze entitlements, corporate actions, and CRA and IRS tax processing flows. The successful candidate will have responsibility for the daily/monthly reconciliations required by the Bank of America Merrill Lynch guidelines.

Responsibilities

  • Follow CRA and IRS timely remittances guidelines and payment schedules

  • Tax filing and reporting to CRA and IRS

  • Balance and analyze all cash securities from entitlement events, posted to all general ledger accounts

  • Reconcile all Asset Servicing general ledger accounts (daily/monthly)

  • Understand and submit all swift messages

  • Pay or reject claims using CDS and/or manual claims processing

  • Process TSX special trading dividend/interest rules

  • Prepare wire payments or set-up in CDS associated with dividend/interest claims (payables and receivables)

  • Group wire payments per custody business lines

  • Review failing trades for impacts on dividend/Interest claims

  • Assist with special projects

Qualifications

Two to three years of related financial services experience that includes:

  • Knowledge of CRA and IRS rules and regulations

  • Understanding of equity dividend and bond interest record/payable dates and failing trades over record dates

  • Exposure to claiming (receivables/payables)

  • Familiarity with settlement functions

  • Demonstrated organization and time management skills within a fast-paced environment

  • Ability to meet firm deadlines

  • IBM knowledge of Entitlement system, Stock Record and Bookkeeping as asset

  • CDS/SEDAR knowledge (Event function)

  • Proficiency in Excel

  • Strong problem solving skills

  • Excellent communication and interpersonal skills

Additional Qualifications

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions

  • Excels in working among diverse viewpoints to determine the best path forward

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner

  • Commitment to challenging the status quo and promoting positive change

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

What Bank of America Offers

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

Bank of America is an Equal Opportunity Employer.

Bank of America encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.

Job Band:

H6

Shift: 

Hours Per Week:

37.5

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.  In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market. 

Description

We are looking for an Operations Analyst to join our Asset Servicing team. The Asset Servicing group provides the following:

  • Timely notifications of corporate actions, entitlements and proxy notices

  • Tax reporting for clients to both CRA and IRS

  • Reconciliation of events and claiming (payables and receivables)

Reporting to the Assistant Vice President of Asset Servicing, the Operations Analyst will need to understand and analyze entitlements, corporate actions, and CRA and IRS tax processing flows. The successful candidate will have responsibility for the daily/monthly reconciliations required by the Bank of America Merrill Lynch guidelines.

Responsibilities

  • Follow CRA and IRS timely remittances guidelines and payment schedules

  • Tax filing and reporting to CRA and IRS

  • Balance and analyze all cash securities from entitlement events, posted to all general ledger accounts

  • Reconcile all Asset Servicing general ledger accounts (daily/monthly)

  • Understand and submit all swift messages

  • Pay or reject claims using CDS and/or manual claims processing

  • Process TSX special trading dividend/interest rules

  • Prepare wire payments or set-up in CDS associated with dividend/interest claims (payables and receivables)

  • Group wire payments per custody business lines

  • Review failing trades for impacts on dividend/Interest claims

  • Assist with special projects

Qualifications

Two to three years of related financial services experience that includes:

  • Knowledge of CRA and IRS rules and regulations

  • Understanding of equity dividend and bond interest record/payable dates and failing trades over record dates

  • Exposure to claiming (receivables/payables)

  • Familiarity with settlement functions

  • Demonstrated organization and time management skills within a fast-paced environment

  • Ability to meet firm deadlines

  • IBM knowledge of Entitlement system, Stock Record and Bookkeeping as asset

  • CDS/SEDAR knowledge (Event function)

  • Proficiency in Excel

  • Strong problem solving skills

  • Excellent communication and interpersonal skills

Additional Qualifications

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions

  • Excels in working among diverse viewpoints to determine the best path forward

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner

  • Commitment to challenging the status quo and promoting positive change

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

What Bank of America Offers

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

Bank of America is an Equal Opportunity Employer.

Bank of America encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.

Learn more about this role

Full time

JR-21020457

Band: H6

Manages People:

Manager:

Talent Acquisition Contact:

Larisa McLaughlin

Referral Bonus:

0

Street Address

Primary Location:
181 BAY ST, Toronto, M5J 2V8