Trust Accountant
Permanent
30 Adelaide Str, East
Toronto, Ontario, M5C 3G9
Canada
Imagine yourself at IFDS
Come experience a community like no other at International Financial Data Services (IFDS). We offer work opportunities driven by a passion for creating market leading financial solutions, and a culture that nurtures collaboration, accountability, diversity & inclusion, and continuous learning. We’ll provide you with opportunities to develop your career. From ongoing training and development programs to experiences working with our global financial services partners, you’ll be able to realize your full potential.
Who we are
With its global headquarters in Toronto, Canada, International Financial Data Services (IFDS) is a world-leading provider of outsourcing and technology solutions to the financial services industry. IFDS services over 240 financial organizations around the world, providing solutions to a wide range of global asset managers, wealth managers, banks, and insurance companies. With employees and partners located throughout Canada, Europe, and Asia-Pacific, the IFDS enterprise supports more than 17 million accounts with AUA of approximately CAD $4 trillion. IFDS Canada, Ireland, and Luxembourg are 50/50 joint ventures between Boston-based State Street Corporation, one of the world’s leading providers of financial services to institutional investors, and Connecticut-based SS&C Technologies, a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries.
Job overview
IFDS Trust Accountants are responsible for overseeing trust accounts, with multiple clients, and ensuring that all accounting processes related to trusts are completed in accordance with statutory requirements.
What you will do
- Review and reconcile cash activities in the trust and commission bank accounts on a daily basis by balancing incoming and outgoing cash transactions processed
- Reconciles commissions, dividend transactions, trailer fees, distributions on weekly, monthly, quarterly and annually basis.
- Co-ordinate with internal Operations team; external Fund Accounting and Custodian teams to reconcile and execute estimates on daily basis at specific times
- Calculate, reconciles and prepares reporting files to Fund Custodian and Fund Companies
- Prepare and initiate mail and/or wire payments, cheques on daily basis.
- Co-ordinate and liaise via email and/or phone with internal Operations groups, Client Service Managers, external financial institutions, custodians, broker/dealers, and Fund Companies to exchange information and resolve issues on daily basis
- Analyze reports with discrepancies; research and resolve
- Use automated systems to enter cash, transfer and other transactions
- Ensure funding is received by Custodian timely, ensure no overdraft in Trust Accounts for 81-102 Clients
- Maintains appropriate files, records and reports as required
- Support internal and external Audit – provide samples and detailed explanations to Auditors
- Good working knowledge of general accounting principles (specifically reconciliation, debit and credit posting)
- Solid PC software (Windows, MS Excel and Word) skills
- Analytical, organizational and problem solving skills
- Detail-oriented and work in a fast paced environment
- Excellent communications skills (written and verbal) required in interaction with custodian, financial institutions, Fund Companies and internal groups
- Ability to multi-task – adjust to multiple demands, shifting priorities, and ongoing change
- Take a logical approach to analyzing problems. Systematically research information and explore alternatives to solve problems
- Strong organizational skills
- Prioritization – ability to prioritize and reorganize workflow in order to accomplish multiple tasks within specified timeframe and deadlines
- Relationship builder – constructs, maintains, nourishes relationships with all stakeholders and creates an environment to sustain high motivation within team
- Proactive in acquiring information to develop new skills to improve job performance. Grasps new material quickly and easily, and applies new information, concepts and procedures in a constructive manner
What we require
- Knowledge of the mutual fund industry and the administrative back-office Customer satisfaction orientation
- Customer satisfaction orientation
- Tact and diplomacy required in interfacing with clients and highly sensitive issues
- Knowledge of National Instruments 81-102 governing mutual funds
- One year or more work experience in a business environment
Working Conditions
- Monday to Friday, 8:30am to 5:00pm / 9:00am – 5:30pm
- Must be flexible and able to work overtime from time to time.
- Currently IFDS employees are working from home, however applicants must be flexible and adaptable to return to the office in a Hybrid model (remote & onsite) once the company determines it is safe to do so. Employee working hours consist of various shifts. Hours of operation are from 8:00 am-8:30 pm Mon-Fri. Overtime may be required based on business needs.
AODA Statement
IFDS Canada encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.
