Title:  Manager, Regulatory Reporting (Quality Assurance & Governance), Global Finance

Requisition ID: 252351 

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

The role: 

The Regulatory Reporting team manages and oversees financial regulatory reporting for the Bank and assigned subsidiaries.  This includes: governance of the process, including monitoring all Bank compliance with filing requirements; change and project management for new or enhanced returns; relationship management with regulators [e.g. Office of the Superintendent of Financial Institutions, Bank of Canada, the Autorité des marchés financiers,Statistics Canada, Provincial Regulators, Securities and Exchange Commission,  the Depository Trust and Clearing Corporation, US Federal Reserve, and Canada Deposit Insurance Corporation], completion of returns on time (monthly, fiscal quarterly, calendar quarterly, semi-annually, annually, and ad-hoc filings to regulators) , performance of variance analysis, response of regulatory inquiries, internal information providers, participation in Canadian bankers Association meetings and etc.   

Reporting to the Senior Manager, Regulatory Reporting, the incumbent will perform quality assurance reviews on key deliverables, operational processes, and controls, providing recommendations on best practices and identifying opportunities to enhance efficiency and reporting quality. The role will also support various regulatory and compliance related requests as needed and assist in executing key deliverables under the Regulatory Reporting Target Operating Model (RRTOM).

The manager will conduct analytical reviews of regulatory returns against published financial statements and regulatory requirements and provide robust end to end second level reviews, including deep dive assessments of high risk regulatory filings. In addition, the incumbent will identify process and data quality improvement opportunities and drive ongoing efficiencies and enhancements to manual processes supporting high risk submissions.

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

• Quality Assurance Review

• • Perform quality assurance (QA) reviews on reporting deliverables.  Ensure adherence to regulatory and accounting guidelines, and internal procedures; and that methodology, and thresholds are consistently applied.

  • Run the monthly and quarterly attestation process. 

  • Perform deep dive testing on prioritized regulatory returns, assessing data accuracy, identifying calculation or assumption gaps, and recommending opportunities for process or control improvements. 

  • Identify opportunities to improve processes and drive efficiencies, as well as enhancing internal controls.  Provide guidance/support to team members and oversee the execution of related initiatives.

  • Produce high quality, audit ready documentation of QA observations, including test plans, traceability matrices, evidence packages, and sign off records, while providing support for internal and external audits. 

• Regulatory Reporting Target Operating Model (RRTOM)

• • Work with the Global Finance Regulatory Risk & Governance team on key deliverables related to the RRTOM Principles: (1) strategy, governance and organization; (2) policies; (3) processes; (4) data; (5) people; (6) technology; and (7) performance management within the regulatory reporting team.  

  • Assist the Sr. Manager, Regulatory Reporting to monitor the processes and procedures established in key RRTOM policies and procedures, such as Issue Management, Change Management, Performance Management, Inventory Management, etc. 

  • Participate and/or provide guidance/support to team members to carry out RRTOM initiatives and complete deliverables in a timely and accurate manner. 

• Internal Control 

• • Ensure documentation is prepared and updated regularly for financial and regulatory reporting processes. On an ongoing basis, ensure processes are reviewed regularly and enhanced where required and that controls are adequate, efficient, and function as intended. Complete audit deliverables accurately and on schedule.

  • Partner with Technology and Data Governance teams to strengthen controls and automated solutions.

• KPI Reporting

• • Complete and submit monthly KPI reporting to governance team or other groups upon request.

  • Monitor the Deliverable Master List/BOT Scorecard to ensure timely submission of reports.

  • Contribute to the development of KPI on QA monitoring for management.

• Other Projects, Regulatory/Compliance Initiatives

• • Champion to run the Compliance Risk and Control Assessment process.  Maintain and update the Open Pages and Regulatory Compliance Management tools.  

  • Participate in other projects/initiatives impacting financial and regulatory filings, 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: 

• Accounting designation (CPA or equivalent preferred but not required), with a minimum of 4 years of experience in a regulatory or financial reporting role, or in financial audit. Experience within a financial institution is considered an asset.

• Bachelor’s degree with specialization in accounting or finance required.

• Strong analytical, conceptual, problem solving and organizational skills.

• Ability to manage conflicting requirements, manage priorities, time and resources appropriately. A multitasking individual is required to be able to cope with a diverse range of issues.

• Good team building skills, working with diverse groups to resolve issues and identify efficiencies.

• Solid communication skills (written & oral) and interpersonal skills with a strong ability to establish relationships with internal stakeholders, including senior management and external regulators.

• Ability to work in fast-paced environment and develop strong relationship with key business partners across the bank such as Regulatory Risk Governance, Internal Audit and Compliance. 

• Strong PC skills with emphasis on Excel, Power BI, PowerPoint and Word.

• Sound knowledge of the Bank’s reporting systems such as OBI/EGL, Axiom and Power BI.

• Good understanding of risks and controls in the production environment (around systems, manual inputs, and working files), ensuring implementation of changes, on-going maintenance and strengthening of the control environment.

• Preferred attributes include attention to details, independent, flexible, curious, proactive, and a self-starter.

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.

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.