FIN 4003

Bi-Weekly Activities

Week 7

Student Name: Helaney Wijesooriya

Student ID: C0857269

Date: 22 February 2023

After completing the tasks from the past 6 weeks, please write a paragraph about the importance of
Canadian banks and bank front office employees such as Customer Service Representative and Financial
Advisors. Please name the bank that you want to work for and how you can contribute to the bank
branch.
Importance of Canadian Banks

Canadian banks are one of the major contributors to the Canadian financial system and Canadian
economy. The Canadian banks including big six banks play an important role in the economy in different
ways.

 Canadian Banks provide approximately 4% of GDP of Canada.

 One of largest taxpayers in the economy. ($12.5 billion)
 Provide employment for 280,000 employees. ($30 billion as salaries)
 Paid $22.6 billion as dividends to its shareholders.

Importance of front office workers in a bank

Front office workers like customer services representatives and financial advisors play a major role in a
bank. They are the key people who generates income for the bank. They held more responsibility rather
just executing trades and orders on behalf of the clients. Advisors and representatives use their
expertise knowledge to advise the customers and the clients. Based on their recommendations clients
will acquire the products of the banks. They will personalise and consider each clients profile and
suggest products that suit the customers. These are not only limited to savings but also insurance, tax
strategies and budgeting. They further the evaluate the clients ongoing basis and provide customers
with suitable products generating more revenue for the financial organization.
The Bank preferred by me and how you contribute to the Organization

I would like to work for Royal bank of Canada and the position I would like to acquire is senior fund
accountant. I will be working for investment banking branch of the bank. As a senior fund accountant, I
would be liable of calculating the net asset value of mutual, hedge and private equity funds and ensure
the Net asset values are inline. This will help investment managers to make trading decisions and clients
to get the idea of positions of their investments. I will be responsible of doing correct pricing, capturing
trades, capturing corporate actions, dealing with subscriptions and etc. Most importantly I will be
responsible for accounting and distribution of dividends to unitholders. Further I have to ensure that all
compliance requirements are being met and finally I have to deal with all external parties of the branch
namely, clients, traders, brokers, custodians, trustees, auditors and etc. This role will help the
investment banking branch of the bank where deposits received from customers have been invested
and to ensure best return for the bank.