Central Administration Clerk
Reporting to the Central Administration Supervisor, the Central Administration Clerk is responsible for completing the administrative and processing functions related to member loans, mortgages, deposits, and registered plans. The incumbent ensures all documentation and related transactions are accurate, complete, and compliant with established policies, procedures, and regulatory requirements prior to filing and processing. The Central Administration Clerk supports branch operations by providing timely and efficient back-office services, allowing frontline staff to focus on member service and relationship building. The role is accountable for meeting established service standards, maintaining operational accuracy, and operating within approved decision-making authorities.
This role provides valuable experience in the processes and documentation that support member loans, mortgages, deposits, and registered plans. The knowledge gained in this role helps build a strong foundation for future opportunities in lending and other member service roles.
The incumbent will identify opportunities to support member needs and refer them to the appropriate Financial Services Officer, while maintaining a primary focus on accuracy, compliance, and turnaround times.
Key Responsibilities
The clerk's core work falls into six groups. They combine the duties of both source roles, with the overlaps removed.
- 1. Loan file quality assurance
- Review booked loans and mortgages every day to check that data entry is complete and accurate. Find exceptions and work with the originating FSO to fix them, so credit files are compliant before filing.
- Complete the daily, weekly and monthly operational reports assigned to Central Administration
- Track open exceptions to close-out and report recurring errors to the Supervisor so they can be dealt with through coaching or process fixes.
- Ensure disbursed amounts are within secured and unsecured Credit Union and individual limits?
- Lending and mortgage administration
- Prepare mortgage instructions for lawyers. Work with lawyers/paralegals so files close on time.
- Reconcile the monthly PPSA invoice to GL. Discharge PPSA as applicable.
- Calculate and process mortgage broker commissions.
- Process and balance payments on syndicated loans. Allocate each payment to the participating credit unions according to their shares, remit the participants' portions, and reconcile the syndication accounts to GL.
- Insurance and collateral administration
- Track home and auto insurance on secured loans and follow up with relationship manager on any coverage that lapses or expires.
- Keep CUMIS creditor life and disability insurance records up to date, including commissions distributed to relationship managers. (HR processes via payroll).
- Keep default insurance records (CMHC/Sagen) up to date.
- Deposit and registered plan administration
- Update the core banking system when interest rates change. Open, change and close service numbers.
- Prepare month-end and year-end registered plan reports, including withholding tax remittances, contracts, maturities and retentions, for Supervisor review. Follow up on variances and errors.
- Check T4RSP and T4RIF slips for accuracy and completeness.
- Prepare the annual Contract Liability/Reconciliation and Certificate of Compliance reports for the Supervisor to review and submit to Concentra Trust.
- Handle the estate files of deceased members who hold registered plans, on time, including tax slips and submissions to CRA.
- Branch and team support
- Act as the back-office contact for branch staff. Answer their inquiries within the agreed service standards.
- Help put policy and procedure changes into practice. Keep desk procedures current.
- Do general admin work: correspondence, data entry, report checks and records management.
- Complete required annual training, including on registered plan rules, AML/ATF and privacy.
- Take part in credit union promotions and member and community events.
- Other duties as assigned.
- Clearing
Clearing is a full-time assignment held by one Central Administration Clerk. Other clerks are cross trained to cover it.
- Work daily clearing exceptions, returned and rejected items, NSF items and stop payments.
- Place and release hold as per policy and within clerk limits.
- Reconcile daily clearing settlement and work out-of-balance items.
- Work the Central 1 non-posted and reject reports (112-1, 113-1, 113-2) and the overdraft report (306-2).
- Escalate items above clerk limits, disputed holds, and settlement that will not balance to the Supervisor.
The Ideal Candidate
Education and experience
- High school diploma. Post-secondary courses in business administration, finance or accounting are an asset.
- At least 2 years of related experience in a financial institution, ideally in lending administration, deposit operations or registered plans.
- Credit union sector or CSI courses (e.g., registered plans, lending, AML) are an asset, or must be completed within the first year.
Knowledge
- Loan and mortgage documentation, security registration (PPSA) and the mortgage closing process
- Registered plan rules (RRSP, RRIF, TFSA, FHSA) and how tax slips are reported
- Credit union products, services and policies
- AML/ATF obligations, privacy obligations and how to escalate unusual activity
- Basic financial accounting, reconciliation and calculations such as penalties, rate blends and interest
Skills
- Very high accuracy and attention to detail on large volumes of files
- Clear, professional writing, and phone skills suited to outreach and difficult conversations (collections, fraud holds)
- Analytical judgment: can apply a decision matrix consistently and recognize when to escalate
- Proficient with Microsoft Office (Word, Excel, Outlook) and the core banking system; willing to learn Power BI
Competencies
- Member service focus, even without face-to-face contact
- Listening, understanding and responding
- Results orientation and ownership of work through to close-out
- Teamwork and cooperation with branches and Central Administration colleagues
- Planning, organizing and prioritizing to meet deadlines in peak periods
- Integrity and discretion with confidential member information
Compensation:
This is a full-time position covered under the Collective Agreement between Sydney Credit Union Limited and United Steelworkers, Local 1064 and remuneration will be in accordance with Clerk pay scale.
This position will be primarily based out of the Sydney River branch however, as with all positions at Sydney Credit Union, this role could be expected to work in any of our locations.
