Job Information
Scotiabank Senior Financial Analyst in Toronto, Ontario
Senior Financial Analyst
Requisition ID: 202103
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Senior Financial Analyst, Insurance Canada Financial Reporting is a key role in supporting the business unit’s financial reporting needs including satisfying external reporting requirements and day-to-day accounting processes. Reporting to the Senior Manager, Insurance Canada and working closely with the business, the role will assist in meeting all business unit accounting, financial reporting and industry regulatory reporting requirements. Included in this mandate is the processing of expense requisitions, bank & account reconciliations, analysis of actual financial results relative to Plan, and general ledger maintenance. The role will also assist in promoting sound corporate governance is it relates to financial matters.
Is this role right for you? In this role, you will:
Financial Reporting:
Primary responsibility will be with the day-to-day accounting and preparation of monthly / quarterly / annual financial reporting for the Insurance Canada legal entities. This includes ownership of financial results variance analysis (i.e., relative to prior period / Plan). As well, the mandate includes reviewing monthly business line financialreporting and documenting key variances for submission to the Senior Manager Financial Reporting for review.
Processing of expense requisitions - ensuring expenses are valid, accurate and properly approved prior to payment being made.
Responsible for reviewing monthly staff expense report for compliance with bank policies and performing the related accounting and payables activities.
Processing journal entries to reflect expense accruals or other routine month-end reporting.
Performing bank and/or other reconciliations including following up and addressing reconciling items.
Preparation of monthly accruals, prepaid and tax provisions for all legal entities.
Monthly, quarterly, annually filing of GST/HST, Income tax and, other provincial filings as required.
The preparation of internal and external financial statements for legal entities.
Preparing ad hoc reports for business analysis.
Analysis of financial results and monthly operating expense reports and documenting commentary for key variances.
Reviewing the accuracy of cheque coding and accrual of general ledger journals/adjusting entries.
Performing monthly/quarterly forecasting and annual planning process.
Compliance/Regulatory reporting:
Responsible for supporting all Insurance Canada Finance regulatory and compliance activities.
Preparation of all quarterly and annual regulatory reporting required for Insurance Canada legal entities.
Complete all other industry fillings.
Support Bank-wide compliance activities eRCM and related-party.
PeopleSoft General Ledger Functionality:
Maintainingthe integrity of the PeopleSoft general ledger used by Insurance Canada Finance for reporting purposes. Responsibilitiesinclude:
Testing updates to the ledger accounts, account roll-up structures, and systems reports for changes made in the Bank's ledger that impact the Insurance Canada operations.
Testing of the annual income statement close process.
Uploading of business line expenses to PeopleSoft.
Finance Advice & Counsel:
Champions a customer focused culture to deepen client relationships & leverage broader Bank relationships, systems, and knowledge. Responds to requests from the business unit for finance advice and support.
Participates in any key projects and initiatives undertaken by the Insurance Canada Finance team as part of the departments financial reporting, subsidiary governance and regulatory/compliance activities.
Leadership:
Liaise with various groups within Insurance Canada and the Bank to resolve various queries and accounting issues.
Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
Actively pursues effective and efficient operations of Insurance Canada Finance in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Champions a high-performance environment and contributes to an inclusive work environment.
Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
Post-secondary education (i.e., university degree or diploma) in Accounting/Finance is required.
Preferred if CPA/accounting designation is being pursued.
The individual will require 3-5 years’ experience in the field of reporting for a financial institution.
Highly organized with a demonstrated ability to exercise sound judgment under time pressure. This includes the ability to work quickly and accurately for sustained periods of time juggling multiple priorities.
Strong interpersonal skills and the ability to work effectively and diplomatically with those outside of Global Insurance Finance (i.e., build good relationships with key internal stakeholders).
Good analytical/database skills, advanced Excel / financial reporting tools skills, and good written / communication skills.
Demonstrated willingness and ability to learn and obtain proficiency on all required General ledgers (Smartstream, PeopleSoft and EGL), Databases and reporting tools including for example OBI, PEAK and Smartview.
What’s in it for you?
An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
Your career matters! You will have access to career development and progression opportunities.
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Location(s): Canada : Ontario : Toronto
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.
