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Title:  Manager, Financial Planning & Analysis, and Expense Oversight




Requisition ID: 178703

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


The Manager is a senior-level role and is a key partner in supporting Scotia Global Asset Management (SGAM) within Global Wealth Management.  The role is responsible for financial planning and analysis, including compensation expense oversight and governance, modeling, financial reporting for SGAM, providing financial insight to the business lines partners (internal and external views).
The role reports to the Senior Manager and works in close partnership with the business leaders, and other business partners on reporting, analysis, and continuously looking for opportunities for process optimization.  The role is required to demonstrate strong leadership skills to drive adoption of new financial planning (budgeting and forecasting) processes and procedures within Scotia Global Asset Management Finance 

Key Accountabilities

1.    Reporting - Preparation of monthly and quarterly business line results for the business

Lead and be responsible for the monthly, quarterly and annual financial management reporting, maintaining effective controls and ensuring that timely and accurate information is reported to Senior Management
•    Closing Journal Entries and Trial Balance Process
o    Assist in the preparation of monthly journal entries and supporting entries for business line allocations, as needed
o    Oversight and review of monthly journal entries/ results
•    Prepare monthly/quarterly reporting and analysis package and report on monthly & YTD actual business results relative to plan/forecast/previous year activity.
•    Prepare monthly/quarterly dashboard for senior management, and monthly departmental expense report for department heads.
•    Complete quarterly Blue Book, Business Line, Quarterly Overview, and Revenue & Expense Variance analysis and commentary for submission to Senior Management.    
•    Ownership of timely collection of financial and non-financial data from business and support groups. 
•    Consolidation of brand level results and provide relevant commentary for Asset Management. 
•    Complete analytical review to:
o    Ensure completeness and reasonability of forecast, and provide viable solutions to issues raised.
o    Understand the relevant performance of Asset Management business plan vs actuals. 
•    Presentation and communication of monthly/quarterly results to business heads.
•    Establish and maintain systems to efficiently manage the reporting process.


2.    Forecasting and Annual Profit Plan

Lead and proactively manage the forecasting and annual profit planning process for the business. 
•    Timely and accurate preparation of forecast and budgets relating to business units and support groups.
•    Working closely with the business units, prepare quarterly, whole-year revenue and expense forecasts for submission to Senior Management.
o    Ownership of timely collection of financial and non-financial data from business lines. 
•    Complete analytical review to:
o    Ensure completeness and reasonability of forecast, provide viable solutions to issues raised.
o    Understand the relevant performance of the business to base forecast. 
•    Ensure accuracy and completeness of information – profit plan, quarterly update, and full-year forecast.  For forecasting purposes, recommend financial models and inputs, set appropriate drivers or strategic benchmarks.
•    Ensure timely submission of annual profit plan, including analysis of all major revenue and expense categories.
•    Coordinate the completion and review of the departmental expense budgets with Department Heads.
•    Complete profit plan analysis and presentation deck to senior management team. 


3.    Business Partnership and Compensation Support
•    Variable compensation plan oversight, governance and modeling.
•    Be a subject matter expert on the components of the compensation plans and ensure they are adhered to.
•    Perform ongoing data integrity inspections and reconciliations to confirm the validity and credibility of the data used in compensation models and other SGAM reporting.
•    Manage, prioritize and negotiate timelines for various ad-hoc requests as required, including requests for data, change requests, reporting and modeling.
•    Develop/ Improve detailed driver-based excel models to aid in the monthly expense and forecasting process.
•    Responsible for the monthly stock-based compensation entries, including forecasting and planning of vesting schedules. 
•    For external third-party sub-advisors, responsible for calculating the settlement of fees and payment of invoices.
•    Responsible for the accurate and timely delivery of monthly and quarterly performance incentive measures for key business partners, including accountability for calculating, reporting, and forecasting of various incentive compensation plans.
•    Respond in a timely manner to support inquiries from the business partners.
•    Provide Management monthly reporting and commentary for expense variances related to compensation.


4.    Expense Management, Oversight and Governance
•    Reporting: Actively support Asset Management Finance team with the monthly & quarterly financial reporting & analysis.  Such as (not limited to):
o    Prepare month-end and quarter-end financial results.
o    Ensure accuracy and completeness of financial results. 
o    Complete variance analysis to understand significant transactions, and drivers for variance.


5.    Special Projects:
•    Responsible for providing financial insight on strategic initiatives pertaining to the introduction of new products, compensation programs and processes designed to increase the profitability or efficiency of management practices.  Incumbent is expected to provide:
o    Creative input, in-depth analysis and innovative thinking  
o    Understanding of business drivers and key success factors
o    Design of complex financial models and conceptual scenarios
o    Crafting and presenting recommendations to various levels of Senior Management
o    Creating financial metrics and analytics with a view to maximizing long-term profitability.

•    Design, develop and maintain profitability models and management reports for the business unit, to drive and support decision-making for Management.
•    Business Insights and Analytics: periodically prepare insightful analysis on financial information and trends to support management reporting 


Other Responsibilities:
Provides resolution to Finance request for information on financial and management reports, revenue, and expense analysis and any other finance-related inquiries. Also, assist in various ad-hoc reporting for Senior Management.


Functional Competencies

•    University degree specializing in Finance/Accounting.
•    A professional accounting designation (CPA, CGA or CMA), or MBA would be an asset
•    Minimum of 2 continuous years of work experience is required.
•    Strong technical skills, and knowledge of Microsoft Office Suite (Excel, Access, PowerPoint etc.).
•    High level of accuracy and keen eye for detail.
•    Strong collaboration and communication skills. Ability to communicate results and recommendations to management in a clear and concise manner.
•    Independent initiative and highly motivated team player.
•    Exceptional organizational skills to prioritize, manage and implement a variety of competing initiatives on a concurrent or staggered basis.
•    An analytical mindset and investigative abilities.
•    Experience working with large data sets, manipulating data, and/or databases.
• Results-driven individual with high level of curiosity and ability to dive into details without losing sight of the big picture.
•    Excellent financial analysis skills combine with a strong foundation in performance measurement criteria, to deliver sound financial recommendations.
•    Experience building financial models and or process improvements.
•    Strong knowledge of the securities and financial services industry (ie investment funds industry) an asset.



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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