Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. The Manager, RESP and Regulatory is responsible for managing a specialized processing unit within the Client Services Department of Global Wealth Management (GWM) Account Maintenance Financial. This role is accountable for various processes and procedures relating to the Scotia Capital Inc. and Scotiatrust business lines operation of registered accounts (i.e. Registered Retirement Savings Plans, Registered Retirement Income Plans, Registered Education Savings Plans, Tax Free Savings Accounts, etc.) The Manager 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), the Employment and Social Development Canada (ESDC), various provincial acts, QI (Qualified Intermediary for the United States Internal Revenue Service) and Canada Deposit Insurance Corporation (CDIC).

The incumbent will be expected to work with management of GWM operations to interpret current legislation and operationalize the required changes to mitigate risk for the bank. This role requires 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 the timely processing of RESP withdrawal requests, including Educational Assistance Payment, Capital Withdrawals & other client requests as allowed under the rules of the various jurisdictions

Review and address retail inquiries within the set Service Level Agreement (SLA) timelines





Issue the Daily Settlement request ensuring all assets under Scotiatrust are segregated in a separate account and not comingled with the rest of the funds held under Scotia Capital Inc.

Ensure that the end-to-end monthly filing procedure with ESDC is processed and sent by Broadridge in application for the Canada Education Savings Grant, Canada Learning Bond, and other provincial incentive funds

Ensure the successful mailing of Educational Assistance Payment (EAP) letters

Ensure the thorough review of reports/files issued by the governing bodies (i.e. ESDC, RQ) in reply to our filing to identify any issues or areas of concern

Ensure the thorough review of reports issued by Broadridge to act on them accordingly

Ensure completion of the monthly review of the previous month’s non-resident accounts, and preparation of the CA-LOB/W-8Ben-E forms to be signed by the Trustee (Scotiatrust) within 5 business days of the previous month-end.

Ensure on-going communications with the ScotiaMcLeod, Scotia Direct Investing, and Scotiatrust (C191) retail contacts to update relevant non-resident accounts as to their tax treatment for US source income.

Ensure that funds and securities are balanced and reconciled in the assigned control accounts.

Coordinate the publication of RESP account statement messages in reference to grant refusal

Ensure the successful filing of T3Trust,



T3GR and other tax filings attributed to Non-Qualified investments held in registered accounts.

Ensure the end-to-end RESP filing with Revenu Quebec (RQ) is processed and sent by Broadridge in application for the Quebec Education Savings Incentive (QESI).

Ensure the accuracy of the annual filing to Scotiabank finance department for CDIC coverage for registered product cash balances held at Scotia Capital and Scotiatrust (191)

Ensure all Registered Plan application forms, declaration of trust documents, relevant addenda, and other applicable forms comply with business rules and required federal and provincial legislation.

Work with the Forms Unit and other business partners to maintain forms in the appropriate online locations and work with business partners on any account opening system updates as required.

Review and update the department’s published information where applicable and work with appropriate departments to maintain updated Registered Product information on Wealthnet.

Become familiar with the departmental policies and procedures to accurately respond to the field’s inquiries.

Design and implement ongoing system and product training for both department staff and the client user group, ScotiaMcLeod, iTrade and Scotia Private Client Group by updating Wealthnet as well as holding regular conference calls and other communiques by the department for use throughout the company.

Manage the short- and long-term goals of the department by ensuring the team understand and implement the objectives and motivate them to provide the best service possible in a cost-effective manner.

Prepare and review, with the Sr. Manager, the team performance appraisals and salary assessments.

📌 Manager, RESP and Regulatory (Canada)
🏢 Scotiabank
📍 Canada