It has been a bustling year globally at Custody & Trustee Bank (CTB) with Assets Under Custody surging by over 60%. This remarkable growth posed recruitment challenges for CTB’s EMEA Head Office in Dublin, necessitating the onboarding of over 300 new employees in the past six months. Not all of these recruits possessed the desired level of experience, placing significant demands on the Learning & Development (L&D) team, which you oversee.

Your specific responsibilities include overseeing the Transfer Agency (TA) Department at CTB EMEA, and due to the large influx of new hires, you have taken a very hands-on approach. This involved compiling presentations and training modules for the newcomers. While much of the training was conducted by a trusted external contractor, certain areas were identified for internal delivery. Leveraging your compliance background, you have been tasked with preparing a briefing note on a specific topic and subsequently delivering an overview to the incoming TA group.

Furthermore, the group has been introduced to the concept of calculating multiple lot Contingency Deferred Sales Charges (CDSC). You have been requested to work through an example and provide detailed feedback on each step of the calculation process.