Summary  

The position provides direct support to the Securitization Asset Backed Commercial Paper business line. This includes Transaction management and Invoicing, Cash management, Commercial Paper Issuance and Conduit Accounting. The position is highly interactive with the Securitization Front Office Funding and Transaction teams.

Key Responsibilities

The Main responsibility is to control and guarantee the accuracy and timeliness of the Securitization data in the systems and be    accountable for the information.

• Cash Management - Main point of coordination for Cash Funding and Cash Management pertaining to all Securitization transactions daily for 2 Securitization Special Purpose Vehicles. Monitor USD and CAD cash accounts for all incoming and outgoing cash as well as monitor communication for transaction documents, emails and reports. Prepare transaction documentation and wires for execution. Obtain necessary signoff after system reconciliation. Follow up where necessary to ensure the accounts are fully funded. Adhere to strict cut-off times to alert front office and management of any issues. Ensure invoice payments are received timely. Process activity into systems and manual accounting entries where necessary. Prepare and provide transaction invoice for accounting processing into systems.

• Daily Processing - Input Loan funding and Commercial Paper/Structured Commercial Paper and FX activity into systems and manual tracking spreadsheet – update SOFR rates and reconcile systems - Confirm interest payments with the Issuing and paying agent for monthly Structured Commercial Paper

• Transaction Processing - Responsible for New and Restructured transaction updates across multiple systems - Commitments, Transaction fees etc

• Reconciliations - Perform various daily reconciliation’s and investigate reconciliation breaks. Perform mapping needed in order to reconcile across systems. Responsible to reconcile positions daily and follow-up with Front Office if there are any issues. End of day reporting to management of all positions for Cash and Commercial Paper. Additional reconciliation investigation duties in relation to accounting process.

• Commercial Paper and FX processing - Validate Commercial Paper trades in the Issuing and Paying Agent system. Resolve any discrepancies with the funding desk and Dealers and perform release of Commercial Paper trades. Generate various IPA reports and reconcile to the internal system, perform daily balancing of activities between all systems. Calculate and Verify foreign exchange settlements. Report Cost of funding for transactions based on specific requests and keep track of rates for invoice and reporting purposes.

Additional and Backup responsibilities:

• Prepare transaction invoices. Ensure invoicing processes are comprehensive and validated against system information
• Additional ad hoc reporting daily and Monthly

Bachelor's degree

• Prepare and provide transaction detail and reports to finance on a monthly basis.

• Contribute to the annual audit

• Ensure the department controls and procedures are followed to support the business and reduce operational risk

• Maintain updated operational procedures

• Identify areas for improvement and efficiencies to streamline processes

• Participate in System enhancement projects. User specifications review required

• UAT -User testing participation and testing output will be required to be validated, coordination and planning with IT project team.

• Collaborate with various teams to support the launch of new products.

• Participate in Disaster Recovery testing of department systems and processes

Management and Reporting

Reporting to the Head of Securitization Middle Office

Key Internal contacts

Securitization Transaction team
Securitization Funding desk - Commercial paper FX
Project Management teams - IT support teams
Commercial Banking Operations
Finance Department
 

Key External contacts

Securitization Transaction agents
Commercial Paper Issuing and Paying agent - IPA
 
 

SPECIAL ROLE REQUIREMENTS: 

•       Loan administration - Cash Management and Accounting knowledge

•       Client service orientated

•       Strong communication skills

•       Fast paced environment

•       Organization and time management skills

•       Detail orientated

•       Works well individually and as part of a team

•       2- 4 years of relevant experience 

•       Bachelor’s degree

•       Strong knowledge of Excel required

Essential

• Loan administration
• Cash Management
• Client Service
• Strong communication skills
• Fast paced environment
• Organization and time management skills
• Detail orientated
• Works well individually and as part of a team
• Microsoft Excel Expert

Desirable

• Fund Accounting experience a plus
• Middle Office experience a plus