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Title:  Sr. Assistant Manager- Financial Reconciliation




Requisition ID: 134229

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


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 but not limited to performing, reviewing and monitoring the GLRAS (General Ledger Reconciliation Adjustment System, which is a Bank-developed application) reconciliation process assigned, reviewing and monitoring the Compensating Control Processes assigned, providing support to other reconciliation process (IBAICA) per request. 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 could be the back up for the other team members in the team when they are in absence. 

The incumbent works closely with GFT and EDRS team to facilitate the development and enhancement of GLRAS system and other in house system. 

Key Accountabilities:

  • Performing, reviewing and supervising the GLRAS reconciliation processes assigned to ensure the reconciliations could be completed with good quality timely. This is a monthly task which includes performing reconciliation of the EGL account balances to the source balance from CDS (Certified Data Sources) and adjustments, assisting the team members to gather adjustments templates from different units of the bank, review and approve the adjustments uploaded, and providing the reports to the downstream users of the bank. 
    • Perform, review and supervise the GLRAS reconciliation processes assigned, provide support to identify and investigate the outstanding above threshold variances, provide support for the problem solving when there is complex issues  
    • Review, validate and approve GLRAS adjustments, provide support to prepare the GLRAS adjustments 
    • Review GLRAS reconciliation summaries assigned in details to ensure the accuracy of the work 
    • Escalate significant reconciliation issues to the Senior Manager and/or higher on a timely basis
    • Act as the backup to the team during the other team member’s absence 
  • Monitoring, Reviewing and supervising Compensating Reconciliations for LIQ and ALM as per the Interim Process for Decentralized Reconciliations Standard. This includes: 
    • Taking the leading role of the compensating control reconciliation assigned, ensure the team to complete the reconciliation timely, ensure to compare Risk Group reconciliation data against EGL to determine coverage and accuracy against approved thresholds
    • Ensure the team would Identify above threshold variances and follow up with applicable Risk Group(s) for explanation
    • Work on the projects for GLRAS on boarding initiatives for the Compensating Control Processes
    • Act as the backup to the team during the team member’s absence
  • Provide support/backup to other reconciliations (IBA/ICA Reconciliation) within Financial Reconciliation team upon request.  
  • Take the leading role to meet the audit requests timely and accurately.  
  • Perform other duties/ad hoc projects as assigned 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
  • The incumbent should have Post undergraduate degree, Preferably in Business.
  • Working towards a recognized accounting designation (CPA,CA, etc) or CFA is 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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