Director, Fund Accounting


Location: Toronto, ON, M5C 2V9
Employee Type: full time
Experience: 10 - 15 years
Education: Bachelor degree
Travel Required: none


A Wealth of Opportunity awaits you

You will have the opportunity to…

  • Be responsible for leading a team that oversees daily fund valuation of the organization’s two brands of mutual fund products.
  • Ensure procedures and controls are in place to safeguard fund assets and the organization.
  • Deal with various internal departments and external auditors.

Key Responsibilities:

  • Ensure the preparation of daily net asset value per unit for each series, under tight timeframes, with high degree of accuracy given the implications of errors to financial loss and customer impact, the major tasks include the following:
    • Completeness and accuracy of security trading activity;
    • Valuation of the underlying securities;
    • Capturing/recognizing income including dividends, interest, capital gains, foreign exchange,
    • Capital restructuring, and daily capital stock changes;
    • Flow of funds to and from the individual Funds for purchases and redemptions and accompanying capital stock activity;
    • Oversight of reconciliation with the custodians;
    • Oversight of the Trust Accounting and Business Process Solutions departments of Dynamic Funds;
    • Oversight of calculation of performance fees for specific eligible funds;
    • Application of fair market valuation factors for those markets closed in advance of North American markets.

    • Coordination of the reporting to unitholders, CRA, regulators’ including:
      • Participate in the coordination of the Financial Statements and the financial data contained in the Management Report of Fund Performance (MRFP);
      • Participation in the coordination of the annual audit of the Financial Statements and MRFP for each of the Funds and review of semi-annual the Semi-annual Financial Statements and MRFP for each of the Funds by the Funds external auditors;
      • Incorporate all regulatory changes (OSC) and accounting changes as required by GAAP (CICA) into the financial statements;
      • Coordination of the annual T3 tax returns and calculations of distribution factors for each of the Funds;
      • Coordination of the necessary financial data for inclusion in the Funds Annual Simplified Prospectus and Annual Information Form;
      • Any other information required by the regulators.
    • Leading in the implementation of the new fund accounting system, Dimension by SimCorp. The new system is scheduled for implementation during 2014 for both Dynamic Funds and Scotia Funds. This role will participate in the coordination of user acceptance testing, training of employees, and the conversion to the new platform for all of the funds.
    • Leading in the implementation of IFRS for both the Dynamic Funds and Scotia Fund families. IFRS is effective for both of these fund families in 2014. There is significant preparation and conversion work required to be completed during calendar 2014. This role will be pivitol to the successful implementation of these new accounting standards for mutual funds.
    • Coordinate all system enhancements required of the legacy and new Mutual Fund accounting systems to ensure the Mutual funds meet their regulatory requirements, businesses needs, minimizes risks and maximizes the efficiency of the area.This will entail preparing needs assessment, development, testing strategy and the implementation of the enhancement.The incumbent will need to become involved in bank wide projects with implications to the daily operations of the Funds.
    • Coordinate all Product developments/enhancements from a Mutual Fund Accounting perspective. This entails working and coordinating with various areas with such initiatives as new Fund/Class launches, Fund mergers, portfolio re-balancing and new Investment Advisors implementations. It is the role of the incumbent to ensure that the infrastructure is in place from an accounting perspective to support these initiatives.
    • Responsible for the documentation and enactment of the Business Continuity Plans.The functional responsibility has been deemed critical and must be in operation within 4 hours of enactment.

    Skills and Experience:

    • University degree majoring in Business and an Accounting Designation;
    • Minimum 10 years experience at a senior level within Mutual Fund industry;
    • In-depth knowledge as it relates to Canadian Generally Accepted Accounting Principles;
    • Advanced knowledge of the Fund Accounting software;
    • Expert in the pricing of all domestic and foreign securities instruments; including equities, bonds, derivatives, mortgages;
    • Strong understanding of the regulatory environment governing Mutual Funds;
    • Strong analytical and operation skills;
    • Strong understanding as to the functionality of the Transfer Agency system;
    • Ability to manage complex relationships.

    Addressing your financial needs as well as your overall health and well-being are top priorities at the Scotiabank Group.

    We are committed to offering a competitive Total Rewards package.




    Dynamic Funds
    1 Adelaide Street East, 28th Floor

    Toronto, M5C 2V9