Title:  Manager, Accounting Control (Finance)

Requisition ID: 251133 

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

The Role

The Manager performs monitoring, analysis, reconciliations, reporting and accounting for Global Banking and Markets (GBM), Group Treasury (GT), bank’s dealer (SCI) businesses in the Subsidiaries in Canada and USA. 

The Product Control Department is the Profit & Loss (P&L) control group providing support to Scotiabank GBM and GT businesses.  Product Control is responsible for P&L reporting, P&L and risk attribution and analysis, valuation, and independent price verification (IPV), reconciliation of reported P&L to Front Office estimates and to the general ledger, the substantiation of balance sheet accounts, issue identification and resolution, and the maintenance of business performance and control MIS.

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

• Exemplifies a customer focused culture within the team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
• Maintain the core accounting control functions within Product Control Department:
  • Review the monthly Balance Sheet Substantiation packages submitted by the P&L Control Units with Product Control. Identify and communicate gaps to the preparer & reviewer.
  • Reconciliations and Reporting between Ledgers and Suspense account balances monitoring.
• Perform reconciliation and accounting adjustments for GBM & GT bond’s outright & financing trades in Impact system. Maintain the accounting module and coordinate/communicate changes as required.
• Monthly netting of long/short bonds and equities positions calculation and recording of same in the bank’s ledger system for GBM transits.
• Monthly netting and recording of collateral to the present value of derivative transactions that are centrally cleared with CME, ICE & LCH).
  • Responsible for the following key control for the bank’s dealer (Scotia Capital Inc.) in Toronto:
  • Preparation, analysis and review of the balance sheet inventory (bonds & equities positions). Provide additional information for regulatory & statutory reporting on the afore-mentioned products to the banks and SCI’s regulatory reporting groups.
• Perform monthly and quarterly reconciliation of internal Repos/Reverse Repos, Securities Borrowing/Lending and Derivative mark to market at an all-bank level.
• Maintain the accounting matrix for derivative products in Peak XV.
• Ensure EGL adjustment entries resulting from the Cash Certification process performed in GWO-Operations Control is recorded in bank’s ledger system.
• Ensure that the implementation of the Product Control model satisfies the requirements and expectations of Internal and External Audit.
• Performs process and reporting automation using Citizen Led Automation tools.
• Provide backup to other staff in the team during period of absence or intensive workload at month or quarter-end
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which the team pursues effective and efficient operations of their respective areas 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.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and managing succession and development planning for the team.

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

• Prior in the financial services industry.
• 3-5 years in a Product Control function.
• Degree in Mathematics, Statistics, Computer Science, Financial Mathematics, Financial Engineering in combination with business / accounting is preferred.
• Detailed knowledge of Product Control, Operations and Finance framework.
• A solid understanding of Bank accounting policies, trading policies, market practice, regulatory requirements and the inherent risks associated with all of capital market products.
• Knowledge of the accounting methods, processes, and tools for maintaining the books of the organization and preparing financial statements and reports.
• Demonstrated in-depth experience managing enterprise-wide accounting function.
• Strong communication skills and the ability to interact with Product Control and Finance staff.

What’s in it for you?

• • A rewarding career path with diverse opportunities for professional development
  • An organization committed to making a difference in our communities – for you and our customers.
  • A competitive rewards program including bonus, flexible vacation, personal and sick days, and comprehensive benefits that start on your first day. 
  • Diversity, Equity, Inclusion & Allyship - We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and are embraced through bias-free practices and inclusive values across Scotiabank. We embrace diversity and provide opportunities for all employees to learn, grow & participate through our various Employee Resource Groups (ERGs) that span across diverse gender identities, ethnicity, race, age, ability & veterans.
  • Accessibility and Workplace Accommodations - We value the unique skills and experiences every individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. Scotiabank continues to locate, remove and prevent barriers so that we can build a diverse and inclusive environment while meeting accessibility requirements. 

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.