Sr. Registered Products Administrator
About the role
- Our client, a Big 5 Bank, is currently seeking a Sr. Registered products administrator to join their team in downtown Toronto! This role is best suited for someone with back office wealth operations experience and can commit to working 5 days a week in downtown Toronto.** Big 5 bank: Sr. registered products administrator
Job Description
The Sr. Registered Products Administrator is accountable for knowledge of the various processes and procedures relating to the operation of Registered Retirement Income Plans, Registered Education Savings, Tax Free Savings, Registered Retirement Savings and Locked-In plans across all business lines serviced, for transactions requested by the field. The incumbent must 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) and various provincial acts. The focus of the position includes communications with the serviced business lines, front-office staff regarding client transactions for registered plans. Such communications would include answering questions related to legislation and governing rules for all types of registered plans offered at those businesses. As well, inquiries include those related to processes and procedures for transactions, including correct forms to complete. Incumbents are required to adhere to set Service Level Agreement (SLA) timeframes. The incumbent is required to review transaction requests and any accompanying documentations to ensure accuracy and completeness prior to the incumbent processing said items.
- Front-line field communications on registered plans: Each Registered Products Administrator is assigned as the primary contact for business line branches. Incumbents receive phone calls, emails, written correspondence on inquiries as to legislation, rules, process and procedures for all types of registered products offered (RRSP,RRIF,RESP, RLIF, LIRA, TFSA, etc). 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. Incumbent must ensure calculation as to the withdrawals (eg: only certain amounts based on transfer transactions may be allowed). Failure to ensure accuracy of 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. Failure to ensure transactions comply with all applicable rules and forms required could put the Bank in a position of financial liability and reputational risk.
- Review and process withdrawals for RESP accounts (i.e. EAP’s, AIP’s, etc.), contribution adjustments, swaps, and maintenance of notional information.
- Review forms remitted to process request; ensure calculations are accurate as to type of requests and allowable within set governmental limits.
- Monthly and annual filing for grants and other incentives from the Canada Education Savings program, the Quebec Education Savings Incentive (QESI) and government incentive programs as required.
- Analyze, resolve problem items: For problem issues brought to the incumbent’s attention from the field, the incumbent should analyze problem, propose best solutions and take action on corrections as agreed to by the field. If required raise issues/proposed solutions to their Assistant Manager or Manager for further review or actions. Response is expected within set time frames
- Issue duplicate and amended tax receipts for contributions or transfers as requested by the field.
- Review and set up pre-authorized contribution (PAC) applications; ensure timeliness of set-ups and correction/amendments which impact clients’ accounts. Review exception/non-exception reports as assigned to ensure that transactions processed adhere to the bank's procedures as well as CRA/HRDSC (for RESP accounts) rules and regulations; Sundry duties as assigned.
Qualifications
- Registered account experience – income accounts RIFS
- Experience with Broadridge system – update accounts for payment updates
- Operational/ back office experience – as much experience as possible (intermediate level)
Worksite Location
Downtown Toronto - Five days a week in office
Duration: 6 month contract to start with opportunity of extension OR conversion to permanent
Pay: $25 - $28/hr
Pay And Benefits
The pay range for this position is $26.00 - $28.00/hr.
Workplace Type
This is a fully onsite position in Toronto,ON.
À propos de TEKsystems et TEKsystems Global Services
Nous sommes un fournisseur de services aux entreprises et de technologies. Nous accélérons la transformation de nos clients. Notre compétence en stratégie, conception, exécution et opérations libère la valeur de l’entreprise par un éventail de solutions. Nous sommes une équipe de 80 000 personnes qui collaborent avec plus de 60 000 clients, notamment 80 % du Fortune 500 en Amérique du Nord, Europe et Asie, qui collaborent avec nous dans le cadre de nos capacités full-stack et notre rythme. Nous sommes des penseurs stratégiques, des collaborateurs pratiques qui aident les clients à exploiter le changement et maîtriser le dynamisme de la technologie. Nous bâtissons le futur en livrant les résultats et en créant un impact positif dans nos communautés mondiales. TEKsystems et TEKsystems Global Services sont des entreprises d’Allegis Group. Découvrez d’autres informations à TEKsystems.com.
About TEKsystems And TEKsystems Global Services
We’re a leading provider of business and technology services. We accelerate business transformation for our customers. Our expertise in strategy, design, execution and operations unlocks business value through a range of solutions. We’re a team of 80,000 strong, working with over 6,000 customers, including 80% of the Fortune 500 across North America, Europe and Asia, who partner with us for our scale, full-stack capabilities and speed. We’re strategic thinkers, hands-on collaborators, helping customers capitalize on change and master the momentum of technology. We’re building tomorrow by delivering business outcomes and making positive impacts in our global communities. TEKsystems and TEKsystems Global Services are Allegis Group companies. Learn more at TEKsystems.com.
The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.
About TEKsystems
We’re TEKsystems. We accelerate business transformation by solving complex technology, business and talent challenges—across the globe. We partner with 80% of the Fortune 500 to create solutions that enable them to capitalize on change. TEKsystems is an Allegis Group company.
Sr. Registered Products Administrator
About the role
- Our client, a Big 5 Bank, is currently seeking a Sr. Registered products administrator to join their team in downtown Toronto! This role is best suited for someone with back office wealth operations experience and can commit to working 5 days a week in downtown Toronto.** Big 5 bank: Sr. registered products administrator
Job Description
The Sr. Registered Products Administrator is accountable for knowledge of the various processes and procedures relating to the operation of Registered Retirement Income Plans, Registered Education Savings, Tax Free Savings, Registered Retirement Savings and Locked-In plans across all business lines serviced, for transactions requested by the field. The incumbent must 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) and various provincial acts. The focus of the position includes communications with the serviced business lines, front-office staff regarding client transactions for registered plans. Such communications would include answering questions related to legislation and governing rules for all types of registered plans offered at those businesses. As well, inquiries include those related to processes and procedures for transactions, including correct forms to complete. Incumbents are required to adhere to set Service Level Agreement (SLA) timeframes. The incumbent is required to review transaction requests and any accompanying documentations to ensure accuracy and completeness prior to the incumbent processing said items.
- Front-line field communications on registered plans: Each Registered Products Administrator is assigned as the primary contact for business line branches. Incumbents receive phone calls, emails, written correspondence on inquiries as to legislation, rules, process and procedures for all types of registered products offered (RRSP,RRIF,RESP, RLIF, LIRA, TFSA, etc). 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. Incumbent must ensure calculation as to the withdrawals (eg: only certain amounts based on transfer transactions may be allowed). Failure to ensure accuracy of 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. Failure to ensure transactions comply with all applicable rules and forms required could put the Bank in a position of financial liability and reputational risk.
- Review and process withdrawals for RESP accounts (i.e. EAP’s, AIP’s, etc.), contribution adjustments, swaps, and maintenance of notional information.
- Review forms remitted to process request; ensure calculations are accurate as to type of requests and allowable within set governmental limits.
- Monthly and annual filing for grants and other incentives from the Canada Education Savings program, the Quebec Education Savings Incentive (QESI) and government incentive programs as required.
- Analyze, resolve problem items: For problem issues brought to the incumbent’s attention from the field, the incumbent should analyze problem, propose best solutions and take action on corrections as agreed to by the field. If required raise issues/proposed solutions to their Assistant Manager or Manager for further review or actions. Response is expected within set time frames
- Issue duplicate and amended tax receipts for contributions or transfers as requested by the field.
- Review and set up pre-authorized contribution (PAC) applications; ensure timeliness of set-ups and correction/amendments which impact clients’ accounts. Review exception/non-exception reports as assigned to ensure that transactions processed adhere to the bank's procedures as well as CRA/HRDSC (for RESP accounts) rules and regulations; Sundry duties as assigned.
Qualifications
- Registered account experience – income accounts RIFS
- Experience with Broadridge system – update accounts for payment updates
- Operational/ back office experience – as much experience as possible (intermediate level)
Worksite Location
Downtown Toronto - Five days a week in office
Duration: 6 month contract to start with opportunity of extension OR conversion to permanent
Pay: $25 - $28/hr
Pay And Benefits
The pay range for this position is $26.00 - $28.00/hr.
Workplace Type
This is a fully onsite position in Toronto,ON.
À propos de TEKsystems et TEKsystems Global Services
Nous sommes un fournisseur de services aux entreprises et de technologies. Nous accélérons la transformation de nos clients. Notre compétence en stratégie, conception, exécution et opérations libère la valeur de l’entreprise par un éventail de solutions. Nous sommes une équipe de 80 000 personnes qui collaborent avec plus de 60 000 clients, notamment 80 % du Fortune 500 en Amérique du Nord, Europe et Asie, qui collaborent avec nous dans le cadre de nos capacités full-stack et notre rythme. Nous sommes des penseurs stratégiques, des collaborateurs pratiques qui aident les clients à exploiter le changement et maîtriser le dynamisme de la technologie. Nous bâtissons le futur en livrant les résultats et en créant un impact positif dans nos communautés mondiales. TEKsystems et TEKsystems Global Services sont des entreprises d’Allegis Group. Découvrez d’autres informations à TEKsystems.com.
About TEKsystems And TEKsystems Global Services
We’re a leading provider of business and technology services. We accelerate business transformation for our customers. Our expertise in strategy, design, execution and operations unlocks business value through a range of solutions. We’re a team of 80,000 strong, working with over 6,000 customers, including 80% of the Fortune 500 across North America, Europe and Asia, who partner with us for our scale, full-stack capabilities and speed. We’re strategic thinkers, hands-on collaborators, helping customers capitalize on change and master the momentum of technology. We’re building tomorrow by delivering business outcomes and making positive impacts in our global communities. TEKsystems and TEKsystems Global Services are Allegis Group companies. Learn more at TEKsystems.com.
The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.
About TEKsystems
We’re TEKsystems. We accelerate business transformation by solving complex technology, business and talent challenges—across the globe. We partner with 80% of the Fortune 500 to create solutions that enable them to capitalize on change. TEKsystems is an Allegis Group company.