Senior Advisor, Trust Services

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.

This role sits within Laurentian Bank Securities, a subsidairies of Laurentian Bank.

Reporting to the Vice president, Operations, Trustee Services the incumbent contributes to the development and maintenance of sound, effective trustee services as representative of trust services for the various trust entities of Laurentian Bank (Trust La Laurentienne, BLC Trust and B2B Trustco).

Responsabilities

• Senior Advisor for all activities offered and supported through the Laurentian trust entities: bare trustee activities, individual/direct clients and strategic deposit activities.
• Responsible for day-to-day operations of Registered Plans Bare Trustee Services including the strategy and implementation of new and revised agency and fee agreements, audit documentation, new business, fees, and department projects.
• Responsible for the registration and delegated administration of various Trust Products, such as Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), Tax-Free Savings Accounts (TFSAs), Registered Education Savings Plans (RESPs), First Home Savings Accounts (FHSAs), Locked-in Retirement Accounts (LIRAs), Life Income Funds (LIFs), Deferred Profit-Sharing Plans (DPSPs), Individual Pension Plans (IPPs).
• Provide advice and act in matters with a significant impact on trustee activities
• Initiate and provide leadership of complex initiatives with impact on Agents.
• Set up and maintain specimen plans and filing with pension commissions across Canada in English and French.
• Submit specimen plan amendments, amalgamations, and closures to CRA & RQ as needed.
• Maintain, and renew agency agreements with Agents for Bare Trustee Services.
• Make timely decisions on discretionary matters in accordance with established risk appetite, and in collaboration with the vice-president.
• Work collaboratively with various internal and external stakeholders, including but not limited to legal, business lines, operations, project management, etc. acting as a trust specialist
• Assist in the implementation of operational and regulatory risk guidelines, where required.
• Research and resolve any matters requiring opinions, policy and/or interpretations related to tax law specific to registered plans.
• Responsible to stay current on product, industry, investment tax and legislative developments and communicating changes which impact Registered Plans to Agents through timely news bulletins.
• Prepare, maintain, and collect compliance certificates from Agents in accordance with the terms of the Agency Agreements.
• Accountable to ensure that all Bare Trustee accounts are administered in accordance with the terms of governing documents, relevant legislation, client needs, company policy and business line objectives.
• Responsible for reputational and financial risks associated with delegated activities to Agents.
• Provide support to Agents with Registered Plan inquiries when requested (e.g., third party demands, excess contributions, qualified investments, acceptable beneficiary designations, estate settlement and reporting, forms required under special conditions for unlocking locked-in plans, related tax filings).
• Participate in the preparation of training needed for Agents and development of maintained Registered Plans Reference Material for Agents.
• Handle requests from regulatory authorities (e.g., OSFI, CRA, Revenue Quebec, pension commissions).
• Responsible for handling communications for related internal or external audits and accountable with Vice president, to maintain an audit rating of satisfactory or better.
• Update policies, procedures and training programs based on regulatory changes, system modifications, internal decisions, etc.
• Analyze complex issues which may impact the various business lines.
• Take part in the preparation of accountability reports for submission to various internal and regulatory bodies.
• Promote ongoing process improvement to ensure operational efficiency.
• Take part in industry committees as a representative of the trustees, when necessary.
• Responsible to ensure the collection of Agent’s year end tax filing.
• Responsible to oversee the invoicing and fee collection for Bare Trustee Services.
• Complete any special projects as assigned from time to time.

Qualifications

• University degree or equivalent in law, finance, or administration.
• At least 8 years of experience working in Bare Trustee Services.
• Advanced knowledge in registered plan documentation requirements.
• Ability to communicate advanced or specific technical matters to clients.
• Knowledge/experience of registered plans and related Income Tax Act provisions.
• Knowledge/experience of locked-in plan administration.
• Proficient in Microsoft Word and Excel.
• Bilingual is an asset (French and English).
• Completion of Canadian Securities Course is an asset.
• Self-starter, with the ability to undertake complex tasks/projects/analysis with minimal supervision.
• Highly developed communication, relationship, and personnel skills, projecting a professional image to clients, service partners and external business associates.
• Strong oral/written communication skills.
• Strong organizational skills and ability to prioritize.
• Flexible and responsive to client needs.
• Ability to adapt quickly to change in a fast-paced environment, with a strong focus on solutions.
• Ability to work under pressure.

What Laurentian Bank has to offer you

The total compensation offered by Laurentian Bank encompasses a comprehensive range of benefits, highlighting our commitment to the well-being and success of our employees.

Here are some of the key points of our offering:

• The actual annual base salary offered will take into account internal equity, skills, and experience among other factors.
• Total compensation: Earn a comprehensive compensation package that includes annual reviews and performance-based bonuses.
• Work model: We prioritize a hybrid work model based on business needs.
• Stock purchase plan: Become not just an employee, but a Laurentian Bank shareholder. Employer matching takes your investment even further.
• Time off: In addition to paid vacation, we provide floating days and leave options to accommodate the diverse needs of our employees. Plus, as an extra perk, you also get a paid day off to celebrate your birthday.
• Health and wellness: Take care of your health and well-being with access to healthcare professionals, our Employee and Family Assistance Program (EFAP), and a Stress Management and Well-Being Program.
• Group insurance and pension: We offer a competitive insurance program based on your family’s needs and a defined contribution pension plan to help prepare for your future.
• Financial benefits: As a Laurentian Bank employee, you’re also the best ambassador for our products and services. Take advantage of employee-only offers on a wide range of products. Enjoy exclusive deals and preferred rates on products and services including insurance, hotels, train tickets, spas and many more.

We are committed to creating a fulfilling professional environment where your skills are valued, and your well-being is a priority. Join us for a rewarding career at Laurentian Bank.

Inclusion and Accessibility

At Laurentian Bank, we believe everyone belongs. We are committed to fostering an inclusive work environment that reflects the diversity of our customers and our communities and where everyone feels like they belong and can thrive. To this end, we encourage applications from individuals from equity-deserving groups, including Indigenous persons, racialized and persons with disabilities, marginalized genders and the 2SLGBTQIA+ community.

We strive to offer a flexible and accessible work experience that is inclusive of everyone. If at any time you need an accommodation, please let us know.

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