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Title:  Senior Assistant Manager, Financial Reconciliation

 

 

 

Requisition ID: 95307

Join the Global Community of Scotiabankers to help customers become better off.

 

The Financial Reconciliation team is responsible for developing, managing and executing the centralized financial reconciliation process within the Bank.  The Financial Reconciliation process is a critical process in supporting the Bank's RDARR (Risk Data Aggregation & Risk Reporting) compliance for 2016 and onwards.  This team is also responsible for executing the Investment Report (IR) and all-bank IBA ICA reconciliations.

The Sr. Assistant Manager is primarily responsible for reviewing and monitoring the Investment Report (IR)  Reconciliation. The incumbent will also perform monthly financial reconciliation on data between CDS (Certified Data Sources) and EGL for assigned risk domain, and performing the compensating control process for risk groups which have not adopted the GLRAS process.  This role works closely with various Risk Groups and business units to investigate variances identified in the reconciliation process and performs adjustments as required.  The incumbent is also expected to prepare a reporting package to present the certification status of the reconciliation for management's approval.   

The incumbent works closely with IT&S to facilitate the development and enhancement of GLRAS and IR database. 

 
Key Accountabilities:

  • Review and supervise the IR reconciliation process, ensuring completion of IR reconciliation with good quality by the required deadline. This is a monthly task which includes gathering turnaround documents from different units of the bank, loading the securities information into the database, reconciliation of the GL account balances to the Balance Sheet, and providing the investment report to the different department of the bank. 
    • Review and supervise the IR reconciliation process, provide support to identify and investigate the outstanding above threshold variances 
    • Review IR reconciliation summary in details to ensure the accuracy of the work 
    • Escalate significant reconciliation issues to the Manager and/or higher on a timely basis
    • Act as the backup to the team during the team member’s absence 
  • Perform financial reconciliation between CDS (Certified Data Sources) and EGL, using Bank-developed application called GLRAS (General Ledger Reconciliation Adjustment System), which will mainly cover Capital Market GLRAS reconciliation (Quarterly) and Investment Securities GLRAS reconciliation (Monthly) 
    • Identify and investigate above threshold variances with business units
    • Perform manual adjustments for known variances and balancing adjustments for below threshold variances in GLRAS
    • Report on the certification status of the reconciliation for management's approval
    • Escalate significant reconciliation issues to the Manager and/or higher on a timely basis
  • Perform quarterly Compensating Reconciliation for Capital Market as per the Interim Process for Decentralized Reconciliations Standard.  This includes: 
    • Compare Risk Group reconciliation data against EGL to determine coverage and accuracy against approved thresholds
    • Identify above threshold variances and follow up with applicable Risk Group(s) for explanation
    • Report on the certification status of the reconciliation (including paper adjustments) for management's approval
  • Provide support to other reconciliation teams (IBA/ICA, Other GLRAS reconciliations) within FAR upon request.  
  • Assist the audit requests timely and accurately.  
  • Perform other duties as assigned or required by Management

Experience / Education:

  • Ability to gain understanding of the Bank's accounting systems and procedures quickly (EGL,OBI, Essbase/Smartview, GLRAS) 
  • Strong analytical, problem-solving and financial analysis skills; ability to identify issues and find solutions
  • Attention to details; strong time management and highly motivated to produce accurate and complete information under tight deadlines 
  • Flexible in dealing with changing reconciliation process as more risk groups on-board to the GLRAS process 
  • Strong communication skills, as this role works closely with various departments with the Bank 
  • Superior Excel skills including pivot tables, v-lookup etc.; prior accounting reconciliation experience 
  • Sound knowledge of Bank's Product especially Capital Market Products and Investment Securities

 

Location(s):  Canada : Ontario : Toronto 

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.

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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