Senior Manager, Canadian Wealth Management Finance

Requisition ID: 273329 

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

Please Note - Over-time required at peak periods, such as quarter-ends and annual planning season.

Purpose

The Senior Manager, Wealth Management Finance manages the financial analysis and reporting functions for Private Banking Business Line of Canadian Wealth Management segment of Global Wealth Management. Specifically, the incumbent is accountable for the integrity and comprehensive timely analysis of the monthly/quarterly results, quarterly forecasts, and annual profit plan for submission to Wealth Management & Finance. The incumbent is also responsible for the working together with the business on various complex incentive compensation plans related to Private Banking.

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

Direct and manage annual Profit Plan and quarterly forecast processes for Private Banking Business line:

• Ensure timely submission of Annual Profit Plan including analysis of all major revenue and expense categories, variance and scenario analysis.
• Maintain/enhance the planning tools distributed to the Businesses for capturing detailed submissions and the analysis of all major revenue and expense categories.
• Recommend and develop financial models and set target levels and/or strategic benchmarks to Wealth Management business heads and management.
• Prepare monthly, quarterly, whole year revenue and expense forecasts for submission to Wealth Management and Finance.
• Prepare the annual 3 (5) Year Strategic Plan and the related stress testing scenarios.

Direct and manage the monthly, quarterly, and annual financial management reporting, maintaining effective control in place and ensuring timely and accurate information being reported to Finance & GWM Management:

• Coordinate the preparation of the monthly business line operating results, business line metrics & performance reports.
• Coordinate the monthly preparation & submission of expense & revenue accruals where necessary.
• Complete financial results, key measures, and commentary.
• Coordinate the completion of Investor Economics surveys along with other market surveys as required.
• Complete Quarterly Management Report (QMR) along with various Revenue & Expense reporting, variance analysis, and commentary for submission to Finance & GWM Senior Management.
• Act as an advisor to the business heads of GWM/CWM as well as provide support and act as a liaison with Finance as required.
• Work with the CWM business heads to provide/create product/customer profitability analytics in support of strategic business decisions.  This requires the design and development of financial models to be used in the assessment of changes in business strategies and new initiatives.
• Define the required changes and/or implement continuous improvement with regards to various systems and databases used to facilitate the required reporting.  These include the PeopleSoft, EGL, MS Access Databases; and numerous Excel spreadsheets.  Also, the incumbent is responsible for improving the reporting/planning processes by identifying opportunities for systems enhancements, specifically through the reduction on the dependence of complex spreadsheets.
• Advise and support Private Banking and Finance leadership on product pricing and profitability
• Work with partners across bank functions on other topics related to Private banking business (HR, Finance, Legal, Risk etc) – PB Loan loss provisions, Risk Weighted assets, Funding Gap, Product profitability.

Together with Private Banking, participate in the calculation and administration of complex variable compensation plans for the business:

• Work with PB Management to ensure timeliness of completion and accuracy of data
• Ensure the compensation calculations are accurate & reasonable
• Coordinate with HR payments of the compensation amounts
• Provide back testing results to the cross-functional team for major changes to the plans

Provide strong leadership by:

• Ensuring expectations including accountabilities, objectives and goals are effectively negotiated, communicated and monitored for direct report(s)
• Ensuring employee development plans are in place and completing performance reviews for all direct report(s)
• Ensuring there is fair and equitable treatment of employees in keeping with the bank’s guidelines and principles
• Ensuring that performance/conduct issues are effectively dealt with through proper and prompt documentation/discussion, escalating when appropriate
• Creating and encouraging open lines of communication for all staff and that they are aware of the Chain of Communication
• Designing, establishing and maintaining an organizational structure and staffing strategy to effectively accomplish the department’s goals and objectives.

Perform other duties 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 (CMA, CGA or CA) or MBA and/or 5 years related work experience is required.

• Ability to provide strong analysis and recommendations to Senior Management relating to the business lines’ performance.
• Knowledge of wealth and banking products would be an asset.
• In-depth knowledge of BNS planning & reporting processes.
• In-depth knowledge of product profitability principles based on FTP methodology.
• Ability to grasp new concepts quickly.
• Excellent analytical skills.
• Ability to analyze and interpret financial and operational information.
• Ability to sustain a deep knowledge of the business lines strategy, operations, policies and procedures.
• Good interpersonal skills are important as the incumbent must be able to work with various levels of Bank staff and excellent verbal and written communication skills are required.
• Ability to work independently, and as a key partner with business heads.
• Be a self-starter, well organized with strong problem-solving skills and the ability to multi-task and meet tight deadlines.
• Advanced technical skills (Excel, Access, Word, PowerPoint, etc.).

What’s in it for you?

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• Internal development to support your growth and enhance your skills.
• An organization committed to making a difference in our communities - for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

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.