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Title:  Manager, Finance & Accounting - CB Finance

 

 

 

Requisition ID: 171178

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

 

Hiring Details:

  • Department: CB Finance Business Analysis & Expense Management 
  • Business Line: Canadian Banking
  • Reports to: Sr. Manager, Accounting & Financial Operations

 

Job Purpose:

The Manager, Finance and Accounting is responsible for all financial accounting and financial operations processes for Automotive Finance & Indirect Lending including but not limited to various amortization processes, business line revenue and expense allocations, subvented manufacturer lease escrow fund management, review and implementation of GST/HST and PST, and reporting and the implementation and maintenance of new financial processes and controls at Automotive Finance & Indirect Lending (AF&IL) .  The Manager provides financial and accounting advisory support and service to Senior Manager, Pricing & Finance, Directors, Vice-Presidents, and Senior Vice-President, Automotive Finance & Indirect Lending.

 

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

1. Manages the comprehensive financial review, analysis and evaluation of all of manufacturer subvented lease escrow funds to ensure they are in accordance with the contractual agreements between the manufacturer and Scotiabank.  Accountability responsibilities are:

  • Manages the preparation of portfolio information to third party companies (Residual Value Insurance Group, Automotive Lease Guide for the periodic review (quarterly, semi-annually) of estimated escrow fund residual gains/losses
  • Manages the preparation of regular reports to manufacturer clients on all lease escrow fund transactions, including a detailed, lease-level breakdown of all end of term lease proceeds
  • Manages the communication and timely collection/disbursement of all manufacturer lease escrow fund withdrawals/deposits to manufacturer clients
  • Manages the implementation and maintenance of end of term lease escrow fund accounting processes between the Dealer Lease Administration Centre and Canadian Dealer Lease Services Inc.
  • Manages the investigation of disputed manufacturer lease escrow fund withdrawals/deposits

 

2. Manages the preparation of quarterly AF&IL business line allocation percentages to Canadian Banking Finance.  Periodically reviews and revises AF&IL business line allocations for assets, provisions for credit losses, non-interest revenue, economic equity and direct & support expenses in conjunction with Canadian Banking Finance.  Provides variance commentary (quarter-over-quarter, year-over-year, plan vs. actual) and analysis to CBF and AF&IL management.

 

3, Manages the preparation of monthly variable compensation calculations for Prime ASM and IASM based on methodology outlined by the compensation memo. Provides monthly breakdown of compensation payments to HR and sales team for payment and communication to eligible sales team members.

 

4. Manages and reviews general ledger (GL) account and transit hierarchy for Automotive Finance & Indirect Lending (AF&IL) as well as the business rules for GL account and transit assignment to the business line and individual AF&IL products to ensure accurate transit-level and product line reporting. Works with Canadian Banking Finance and EO Finance to open new GL accounts, subaccounts, or transits or to make changes to the mapping of existing GL accounts, subaccounts, or transits to the business line or individual products, if required.

 

5. Manages the implementation and maintenance of financial/accounting operations processes at AF&IL Head Office to ensure accurate financial reporting including but not limited to accrual processes for monthly revenue (commercial floorplan interest revenue, commercial bulk payments) and expenses (lien registration  fees, portal fees, credit report fees, printing and mailing of customer letters) based on materiality thresholds defined by Canadian Banking Finance.  Works with the Manager, Finance to ensure the financial impact of these financial processes are accurately captured in periodic forecasting/planning activities for AF&IL

 

6. Manages the preparation of amortization schedules for rate subvention and volumes bonus payments and reconciliation of amounts in the amortization database to GL balances with monthly amortization and GL reconciliation reports provided to Canadian Banking Finance.  Works with the Manager, Finance to ensure the financial impact of these amortization schedules are accurately captured in periodic forecasting/planning activities for AF&IL.

 

7. Manages the preparation of amortization schedule and GL reconciliation report for lease service fees, obtains concurrence from Canadian Banking Finance on amortization calculations, and liaises with Dealer Lease Administration Centre to process payments to the vendor and ensure the GL accounts for lease service fees are reconciled.  Works with the Manager, Finance to ensure the financial impact of these amortization schedules are accurately captured in periodic forecasting/planning activities for AF&IL.

 

8. Coordinates with Taxation Department to provide insights to the business regarding any changes in GST/HST and PST laws.  Reviews financial calculations of GST/HST and PST on loans based on latest tax laws and provides support in any tax audits. 

 

9. Provides ongoing responsive, professional management accounting advice, recommendations and support to the Senior Manager, Pricing and Finance, Directors, Vice-Presidents, and Senior Vice-President, Automotive Finance & Indirect Lending.  This includes the preparation, presentation, and review of financial information in addressing AF&IL’s financial results for delivery to other departments, and providing resolution of queries, problems or issues of concern of an accounting nature within AF&IL. 

 

10. Contributes to successful team performance in accordance with the Department’s Team Credo.  This encompasses support to other team members, individual contribution to the team and shared responsibility for team attainment of objectives. 

 

11. Other Accountabilities:

  • Ensuring compliance to AML (Anti-Money Laundering) and KYC (Know Your Customer) policy;
  • Ensuring adherence to Information, Security and Policy Privacy Requirements;
  • Occupational Health & Safety Officer, as assigned.

 

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

  • University degree in business, accounting, or finance is required
  • A thorough understanding of financial and management accounting principles, ideally possessing an accounting designation/MBA
  • Database related (MS Access, SQL scripts) work experience is preferred
  • Strong knowledge of the banking industry with demonstrated analytical skills
  • Solid knowledge of Automotive Finance products, with specific knowledge of internal Bank systems (ALS COM, Retail Loan Platform, Flooring & Leasing, On-line Loans) is desirable
  • Working understanding of the Bank’s budgeting and financial reporting processes and standard accounting policies and procedures
  • Working knowledge of and hands-on experience in the database management (MS Access, design and development, SQL statements, complex VB scripts) is preferred.
  • Thorough working knowledge of business related computer software including MS Word, MS Excel, MS PowerPoint
  • Excellent written and verbal communication skills
  • Very strong conceptual, analytical, problem-solving and organisational skills
  • Well-developed consensus-building skills and the ability to work effectively with staff at all levels of the organisation and gain their respect and support. 
  • Dedicated to the highest standards of customer service. 
  • Highly organised to handle a large number of concurrent high priority activities and requests

 

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.

 

#scotiafinancejobs

 

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.


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