Title:  Chief Financial Officer, Global Insurance Finance

Requisition ID: 236132

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Lead the global insurance finance team for the bank, developing and implementing strategic plans to optimize financial performance. The CFO oversees the Global Insurance Finance for all bank ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures.

 Is this role right for you? In this role, you will: 

Financial Reporting 

• Oversee and coordinate with business the planning, forecasting and management reporting processes for the Global Insurance operations.
• Responsibilities include implementing specific reporting aspects of projects resulting from expected growth in the business line.
• Responsible for the financial reporting integrity for the Bank’s insurance subsidiaries to meet all regulatory and shareholder’s requirements (i.e., audited financial statements, quarterly / annual OSFI filings, tax reporting and various industry financial submissions).
• Oversee the research and development of accounting policies and procedures for the Bank’s insurance entities in accordance with International Financial Reporting Standards.
• Recommend format, coordinate, and review financial reporting to the respective Boards of Directors for the Bank’s Canadian insurance entities.  The position carries the title of CFO & Treasurer for the 4 legal entities.

Finance Advice & Counsel

• Provide ongoing support, financial insights / advice / counsel for development activities (i.e., products, business lines, and distribution channels) to ensure successful implementation of the Global Insurance strategy.
• Activities involve the review & financial assessment of business cases / initiatives and offering suggestions to enhance any related financial returns via structural changes to the initiative.
• Responsibilities include developing and implementing appropriate accounting policies and procedures (International Financial Reporting Standards), financial statement reporting, and management reporting.
• Participation in insurance M&A activities, due diligence and integration.  
• The position will be responsible for researching, recommending, and implementing accounting policies, purchase accounting and fair value determinations for both internal and external financial reporting.

Leadership

• Provide strong leadership to motivate both individual and team performance to achieve high professional standards.
• Recruit, develop, retain and advance high quality talent and implement an effective succession plan for the Global Insurance Finance area.
• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• The individual is also an active member of the Global Insurance Senior Management team.  Responsibilities under this mandate include:
• Participate in monitoring the financial and general health of the business including oversight and governance.
• Demonstrate leadership for the overall Global insurance operations.
• Contributes in a positive manner to Global Insurance’s overall strategic growth.
• Serves as a Global Insurance representative at various Bank and industry / regulatory project implementation teams.

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:

• Highly organized with a demonstrated abitliy to exercise sound judgment and make prompt, well-reasoned decisions in a rapidly changing, complex business environment and under time pressure.  This includes the ability to work quickly and accurately for sustained periods of time juggling multiple priorities.
• Demonstrated experience in managing people and processes with 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 and external stakeholders).
• The individual is expected to coach members of the Global Insurance Finance team such that eventually, they become self-sufficient in providing certain finance deliverables.
• Excellent written and communication skills.
• Bachelor's degree in Finance, Accounting, or a related field; advanced degrees and professional certifications (e.g., CPA, CFA) are preferred.
• Excellent leadership, strategic thinking, and communication skills; proficiency in financial analysis and risk management.
• The individual will require 10 – 15 years’ progressive experience in the field of reporting for a financial institution, preferably within the life insurance industry.
• Actuarial and IFRS 17 experience

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You'll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• Your career matters!  You will have access to career development and progression opportunities.

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, please click here. 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.