Topic of Internship
Scotiabank is Canadaís international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. Scotiabank is dedicated to helping over 21 million customers through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking. With a team of over 86,000 employees and assets of $852 billion (as of January 31, 2015), Scotiabank trades on the Toronto (TSX:BNS) and New York Exchanges (NYSE:BNS).
Summary of Internship
The bankís Trial balances / General Ledger entries were explained to me with an overview as to how they roll up into various reports prepared by the bank and submitted to the Federal Reserve Bank and New York State. Iíve had an over view on the process of some of the Federal and NY State regulatory reports from the Finance team. Also, Iíve had some hands on training in inputting some of the accounting journal entries into the OG system and was explained the importance of keying them correctly. Iíve also had some training inputting invoices into the Accounts payable system so that checks/ACH payments can be made to various vendors/staff. The importance of how this rolls up into the Trial balances was also explained to me.
I have assisted with the preparation of labels and folders that are used for the filing of paid invoices and on a weekly basis, I file these invoices. Also, the filing of checks that are paid is done by me.
Training on Excel, Pivot tables, V-Look Up and sum if functions was also explained to me.
Iíve also had the chance to meet with and observe some of the bankís traders who deal with Precious metal, Foreign exchange and Securities trading transactions.
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