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Title: Manager, Income Plans and Estates

Requisition ID: 276359
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Manager, Income Plans and Estates is responsible for managing a specialized processing unit within the Client Services Department of Global Wealth management (GWM) Account Maintenance Financial. They are accountable for various processes and procedures relating to the Scotia Capital Inc. and Scotiatrust business lines operation of registered accounts including Registered Retirement Income Plans, Registered Retirement Savings Plans, Registered Education Savings Plans and Tax-Free Savings Accounts. The incumbent will focus on ensuring that the various accountabilities are processed to the highest standard, as per regulatory requirements under the Income Tax Act (overseen by Canada Revenue Agency), QI (Qualified Intermediary for the United States Internal Revenue Service), and regulations of other governing bodies.

The incumbent will work with management of GWM operations to interpret new legislation and operationalize the required changes to mitigate risk for the bank. The incumbent will require initiative and leadership skills to coordinate with various stakeholders, including other GWM operations teams, retail business management, Legal Counsel, Taxation, and others as required.

Is this role right for you? In this role you will:

- Ensure direct report’s work is performed at the highest standards, ensuring completion of work for general registered product administrators and well as specialized desks including Estates and other projects.
- Be well-versed in all aspects of registered products administration regulations, tax rates,



locked-in plan administration, as well as specialty knowledge of estate processes to oversee staff performing such functions.
- Manage escalation issues brought forth by the business lines and other partners to analyze & resolve problem items related to client impact and processes.
- Manage staff resources (vacation schedules, illnesses, etc.) to ensure coverage.
- Work with HR, as well as outside staffing firms, to hire staff when needed.
- Review pending estates to determine those accounts for which further action is required & determine which accounts require a mailing if upcoming to end of the exempt period
- Write correspondence to be mailed to executors on such accounts and manage the mail merge project for these accounts.
- Review for accuracy the "past-exempt" income calculations compiled by the estates team and work with Taxation Dept. to complete the annual T3 Trust tax filings as required & manage notices of assessments and tax charges levied by Canada Revenue Agency (CRA) on such tax filings.
- Oversee completion of the tax reporting for the estates disbursed during the calendar year for the annual tax reporting to executors and CRA.
- Manage "problem" estate disbursement issues to assess business risks and bring to Sr.



Manager's attention as needed & work with Legal Counsel team contacts as required on such issues to receive legal advice on challenging estate disbursements.
- Assess requirements for Income Plans as per new legislation, develop processes and procedures, & develop new forms to accommodate new legislation & work with business line contacts to inform sales staff of such new legislation and changes through general communication avenues.
- Work with Operations Support staff and Broadridge and other Broadridge client firms to develop changes to the Broadridge PLAN system impacting lncome Plans by current legislation as required & develop and/or review new specifications for system changes; test and review reports on Broadridge/system changes, and review output with Management for sign-off.
- Perform annual review of Broadridge test for year-end Income Plan evaluations, identify problems/discrepancies, & work with Broadridge to correct and re-test for sign-off.
- Review or provide Income Plan rate table changes to Broadridge annually for year-end lncome Plan evaluations & review for accuracy and sign-off
- Review various system reports to ensure plan accounts are set up as required and payments are issued to satisfy regulatory requirements and client requests.
- Sundry duties as assigned.

Do you have the skills that will enable you to succeed in this role? – We’d love to work with you if you have:

- Business education and/or investment industry experience
- Expert knowledge of Registered Products and the Federal, Provincial and Industry rules which govern them, with particular emphasis on the Income Tax Act to analyze various annual amendments and their effects on current and future departmental operations
- Well-rounded knowledge of the Brok

📌 Manager, Income Plans and Estates (Toronto)
🏢 Scotiabank
📍 Toronto