Title:  Senior Manager, Financial Planning & Analysis, Global Asset Management

Requisition ID: 241652

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

We are committed to investing in our employees and helping you continue your career at Scotiabank.

The Senior Manager, Balance Sheet Analysis provides input into the strategic direction, leadership and oversight for financial Balance Sheet and Net Interest Income (NII) matters for Global Wealth Management (GWM) and finance business partners, ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures.

Responsible for defining, managing, directing, delivering, planning and forecasting the overall financial Balance Sheet and NII processes, controls and reporting / forecasting of data for Global Wealth Management.

As a key partner to the overall GWM Finance management team, the Senior Manager, Balance Sheet Analysis is responsible for applying analytics to develop and enhance the financial intelligence capabilities of Wealth Management Finance around planning and forecasting, financial analysis, regulatory changes, financial methodology, and strategic planning. This includes operating as the lead and subject matter expert on Balance Sheet, including performing in-depth financial analysis to support strategic Balance Sheet management and initiatives to improve the Global Wealth Management business line’s profitability.

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

1. Own and drive the reporting & forecasting activities for GWM Finance (FP&A Activities) related to Balance Sheet and Net Interest Income

• Support the Global Wealth Management Quarterly forecast and Annual profit plan processes, with a focus on Balance Sheet
• Provide insightful analysis related to the health and mix of the Global Wealth Management Balance Sheet and Net Interest Income
• Supports the planning, forecasting and reporting for GWM growth and financial metrics across channels by:
  • Working with the Business lines to build annual plans and quarterly/multi-year forecasts for the entire Balance Sheet portfolio, including Wholesale Funding ratios, NIM %, Analysis by Product, Attributed Capital / Value of Capital and Risk Weighted Assets.
  • Assisting in operational and production activities, including support, review and assessment of the reasonability of assumptions/commentary including Balance Sheet & Profitability analysis, Forecasting, Monthly and Group ALCOs, and Enterprise-Wide Stress Testing (EWST)
  • Developing strong fundamental knowledge about various FTP components / methodologies, implement, operationalize and assess continued suitability as well as communicate methodology changes and the resulting impact
  • Supporting the development of portfolio stress-testing scenarios
• Directs financial reviews or initiatives to support strategic priorities and/or improve management processes and standardize methodologies. Implement and maintain constantly evolving performance measurement practices, and reporting.
• Assist in developing financial projections & models to forecast the profitability of the Global Wealth Management business line from a top-down perspective, which will include interpreting financial data across business lines / product areas and incorporating the most recent economic information, in order to provide timely guidance towards achieving the business line’s longer-term financial performance targets
• Maintain an effective system of internal controls over the planning, forecasting and reporting processes for interest profit and ensure that any EUC requirements and SOX controls are addressed
• Leverage digital solutions to seek ways to enhance the Balance Sheet and interest profit planning and forecasting processes by streamlining operational and analytical processes, reducing operational risk, improving the effectiveness, and resolving issues related to data consistency among various systems and processes
• Support ad hoc analysis requests as required
• Actively 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.

2. Strategic Support and Stakeholder Engagement

• Support stakeholder relationship management with key Wealth Management business partners, including Business lines, Product groups, Global Risk Management, Treasury, Capital Management and EO Finance
• Serve as the main point of contact to the GWM finance partners and Enterprise FP&A teams for balance sheet and NII inquiries, providing business context, guidance and oversight
• Develop deep relationships with finance teams and business partners across GWM to understand strategic priorities, support business activity, and help drive financial performance
• Proven ability to work as an effective team leader and key partner; ability to motivate others, build trust with partners and colleagues, and work collaboratively across teams.
• Lead and drive a customer focused culture to deepen relationships and leverage broader Bank relationships, systems, knowledge and contribute to an inclusive work environment.
• Draft and own concise financial commentary on balance sheet and NII, including commentary review with senior leaders in GWM Finance and business teams
  • Point out trends, risk and opportunities
  • Always be forwarded looking in discussions
  • Engagement with internal audit teams, external auditors, and global finance stakeholders to manage and close open requests

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

• MBA and/or Accounting Designation preferred
• Minimum of 10 years directly related experience in a financial area
• Thorough knowledge of Global Wealth Management’s products/services, business lines, financial reports, compliance, performance measurement, planning and analysis, service standards, legal and regulatory requirements.
• Must have comprehensive knowledge of margin analysis, funds transfer pricing and risk management.
• Strong technical skills including strong modelling skills
• Experience in working with Hyperion, OBI or similar financial applications preferred, including building ad-hoc queries and reconciliations back to control totals
• Strong strategic and analytical skills required to develop the vision, goals, strategies, and plans for the Finance Department aligning with the overall Bank strategy.
• Thorough knowledge of all aspects of finance and the ability to continuously and critically analyze the current state for new concepts, insights and opportunities for improvement.
• Strong initiative, forward thinking and creative problem-solving skills with the ability to create or stimulate integrated cross disciplinary strategic solutions.
• Skilled in gaining the organizational commitment and alignment of various stakeholders in GWM with strong interpersonal skills and win-win outcomes.
• Effective negotiation and influencing skills that can be applied across all functional levels and areas within the organization
• Demonstrated leadership skills and relationship management expertise

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.