Title:  Director & Head, Global Insurance Finance

Requisition ID: 236132

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

Reporing to the Senior Vice President & CFO, Global Wealth Management, the Director & Head, Global Insurance Finance will lead the global insurance finance team for the bank, developing and implementing strategic plans to optimize financial performance. The Director 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:

• Oversee and coordinate with business the planning, forecasting and management reporting processes for the Global Insurance operations.
• Be tasked with implementing specific reporting aspects of projects resulting from expected growth in the business line
• Be 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.
• 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.
• Be involved in the review & financial assessment of business cases / initiatives and offering suggestions to enhance any related financial returns via structural changes to the initiative.
• Be responsibile for developing and implementing appropriate accounting policies and procedures (International Financial Reporting Standards), financial statement reporting, and management reporting.
• Participate in insurance M&A activities, due diligence and integration. 
• Be responsible for researching, recommending, and implementing accounting policies, purchase accounting and fair value determinations for both internal and external financial reporting.
• 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.
• Lead and drive 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.
• Be an active member of the Global Insurance Senior Management team.
• Participate in monitoring the financial and general health of the business including oversight and governance.
• Contribute in a positive manner to Global Insurance’s overall strategic growth.
• Serve 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? We’d love to work with you if you have experience with:

• Bachelor's degree in Finance, Accounting, or a related field; advanced degrees and professional certifications (e.g., CPA, CFA) are preferred.
• 10 – 15 years’ progressive experience in the field of reporting for a financial institution, preferably within the life insurance industry.
• Experience working as an Actuarial
• Significant exposure to International Financial Reporting Standards -- IFRS 17 is preferred.
• Solid understanding of applicable regulatory frameworks, the insurance industry (Creditor, Life/Health, Home/Auto, and Travel), operational platforms and business processes. 
• Specialized knowledge of the accounting principles, financial reporting, statutory reporting, and  corporate income tax – all as they relate to the insurance industry.
• Excellent leadership, strategic thinking, and communication skills; proficiency in financial analysis and risk management.

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.