Operation Officer – Lead

Job Description

Typical Day in Role:

• Incumbents are expected to reply within set timeframes with replies consistent to firm policies and/or legislative rules. Incumbent’s main focus will be on the RESP product but may be called upon to provide assistance with other products offered.

• Set up Income Plans (RIF/LIF/LRIF) payment profiles and process payments for income accounts as required; ensure accuracy of tax rates, including special situation rates (eg: over minimum amounts taxable at full-year rate for systematic plans)

• Review and process “unlocking” transactions: various provinces and the federal government have introduced legislation allowing clients access to certain locked-in funds. Incumbents must review required government and firm documents submitted prior to processing such withdrawals. The incumbent must ensure calculation as to the withdrawals (e.g.: only certain amounts based on transfer transactions may be allowed). Failure to ensure the accuracy of the processing could result in liability to the Bank for locked-in “pension funds” incorrectly “unlocked”.

• Review and process special withdrawals/transfers/transactions: refunds of excess contributions, marriage breakdown transfers, money adjustments, internal transfers, home buyer’s and lifelong learning withdrawals, bankruptcies and CCPCs (Canadian Controlled Private Corps); review all documentation provided by the field on such transactions prior to completion of the transactions.

Must Have Skills:

• 8+ years of Operations experience

• Prior experience with Income Plan Payments

• Experience communicating with Stakeholders

• Prior FI experience

Nice to Have Skills

• Familiarity with registered products offered (RRSP, RRIF, RESP, RLIF, LIRA, TFSA, etc).

• Experience with processing special withdrawals/transfers/transactions