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Title:  Senior Manager Insurance Finance, IFRS I7 Consultant

 

 

 

Requisition ID: 148903

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

 

Purpose


Contributes to the overall success of Scotiabank’s global insurance operations by directly supporting the Bank in its IFRS 17 implementation project.  The Senior Manager is a key member of the team involved in delivering on the Banks’ IFRS I7 project goals and detail project plans for Finance workstreams and supporting other operating workstreams in executing on their key deliverables. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.

The Senior Manager, Insurance Finance will be located in Canada and reports to the Insurance Canada Director, Finance.

 

Key Accountabilities 

 

  • Support the design and implementation of operational changes required to key finance function process required to account and report under IFRS 17.  Areas of focus will include but are not limited chart of account/roll-ups, IFRS 17 compliant financial statements, monthly/quarterly close calendar activities and developing reports / reconciliations.
  • Support the design, development, testing and implementation of key IFRS17 tools, reconciliations and reports.  Areas of focus will include reports required to ensure completeness and accuracy of IFRS 17 subledger accounting and reporting.
  • Document process changes resulting from a gap assessment of existing vs new process impacting the month-end close calendar for subsidiary and parent bank financial reporting.  This will need to ensure that key SOX related controls are identified. Support development of any manual controls that need to be modified or updated due to implementation of IFRS 17 subledger.
  • Support work on transition year adjustments with the goal of quantifying, accounting for and developing financial statement disclosures for the transition adjustment by legal entity and for the parent bank. 
  • Provide support in developing IT UAT testing strategy and participate in the execution of the strategy.
  • Provide support for the development of IFRS17 accounting policy choices and identify any operating changes required to implement IFRS 17 policy choices.
  • Provide support to execute transition year parallel accounting and reporting by drafting out close calendar activities during the parallel year.  
  • Prepare IFRS 17 compliant financial statements and related disclosures for each insurance subsidiary including all transition year disclosures.
  • Liaise with key members of the Data, Actuarial and Accounting policy workstreams as required..
  • Support project management and detail project plan execution by providing timely updates on the status of key work initiatives.  
  • Understand and consider the Bank’s risk appetite and risk culture, and conduct all activities in compliance with governing regulations, internal policies and procedures.
  • Actively pursue effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct. 

 

Experience / Education:

 

  • The successful candidate is an accountant with a professional CPA,CA designation.
  • Has 10 plus year of experience in the financial services industry.  Insurance industry experience would be an asset.
  • Has 10 plus years working in Finance functions as a controller.
  • Experience in general ledger administration systems implementation projects would be and asset. 
     

This is a temporary, full time role for 12 months.

 

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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