Associate, Operations, Newport Private Wealth

Business Line: Newport Private Wealth

Hours Per Week: 35 (Full-Time)

Location: 469 King Street West, Toronto, Ontario, M5V 1K4

In Office Requirement: 5 days during training / Hybrid Setting after training period (2-3 days in office)

Job Duration: Full-Time, Permanent

About the Role

We are seeking a team player with excellent interpersonal skills who is interested in financial data and reconciliation. The successful candidate will be a self-starter with a high attention to detail, able to work in a fast-paced environment and dedicated to excellence in data integrity.

What Youll Do

• Financial Data & Reconciliation
  • Weekly book value reconciliation between Newports portfolio management system and the custodian
    • Research and resolve differences for all client security positions
    • Post correcting entries in Harmony or on NBIN systems, as applicable
    • SLA to clear all breaks within 5 days

• • Semi-annual review and reconciliation of tax costs between Newports portfolio management system and the transfer agent, for our client positions in our Newport Funds and limited partnership
  • Investor static data for tax slip production
    • Review all non resident clients to ensure accurate tax residency data in Harmony and to ensure correct Part XIII tax has been deducted throughout the year
    • Ensure all investor addresses and tax identification numbers are accurately maintained
    • Provide data to CWFS in February for production of T3 and T5013 slips

• Cash Management

• • Review daily cash balances report from custodian to identify overdrafts in client & fund accounts, liaise with PM/PA teams to take corrective action. SLA - clear overdrafts within 2 business days
  • Respond to NBIN communication on accounts in overdraft or short asset positions, to ensure positions are flattened. SLA - provide response same day to custodian, with aim to clear short positions within 2 business days

• Client Service Support

• • Circulate account/group audit reports to administration team, monitor to ensure appropriate actions taken and quarterly signoff is received
  • Format and circulate Inactive Accounts reports weekly, monitor to ensure items cleared each week
  • Maintain blended benchmark data for updated IPS
  • Run statement tasks, transfer files to SharePoint for PM/PA review and maintain statement trackers for both prelim and final statement production
  • Investigate and clear flagged client, reporting group, or account set ups that create statement issues
  • Assist with financial data review for resolution of performance-related issues
  • Ensure mail and electronic statements are delivered and/or posted and coordinate with the Marketing and Communications team as needed

What You Bring

• Minimum of 5-10 years of administration/operations experience in wealth management industry, specifically with asset position/book value reconciliation work at a firm wide level.
• Successful completion of the Canadian Securities Course, or willingness to enroll and successfully complete in the first year of employment
• Basic understanding of equity and fixed income markets, securities transaction flows, maintenance of asset cost and tax knowledge of capital gain/loss reporting
• Excellent written and oral communication skills
• High attention to detail, with ability to keep excellent notes for proper audit trails
• Exceptional organization skills, able to manage shifting priorities and competing deadlines
• Proficient in Excel, experience with Harmony and Salesforce CRM and with NBIN custodian platform and systems an asset

Who We Are - Newport Private Wealth

Newport Private Wealth, a subsidiary of NFP Corp, is one of Canadas largest independent wealth management firms. We do things differently. With a focus on delivering excellent client outcomes, we work with some of the wealthiest Canadian families helping to manage their complex wealth management challenges. Newport promotes values of inclusivity, diversity, and equity and this is reflected in our interviewing, hiring and career development practices. Our goal is to create an inclusive and inspiring workplace where everyone can reach their true potential. We thank all applicants for their interest in a career with Newport Private Wealth. We will only communicate with those selected for an interview.

Whats In It For You

• A hybrid environment approach that keeps the best interests of our staff and our clients in mind
• Annual bonus plan for all employees
• Matching RRSP plan of 3% of salary
• Generous benefits plan (dental, health, vision etc

Accommodations are available on request for candidates taking part in all aspects of the selection process.