Requisition ID: 233216

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

Reporting to the Director, Canadian Wealth Management Finance, The Senior Manager manages the financial analysis and reporting functions for Private Investment Counsel (PIC) and Scotiatrust Business Lines 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.  They will also responsible for the operationalization and administration of various complex incentive compensation plans related to the above business lines.

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

• Direct and manage annual Profit Plan and quarterly forecast processes for Private Investment Counsel (PIC) and Scotiatrust:
  • Ensure timely submission of Annual Profit Plan for both PIC & Scotiatrust including analysis of all major revenue and expense categories.
  • Maintain/enhance the planning tools distributed to the Businesses for capturing detailed submissions and the analysis of all major revenue and expense categories.
  • Recommend financial models and set target levels and/or strategic benchmarks to Wealth Management business heads and management.
  • Prepare quarterly, whole year revenue and expense forecasts for submission to Wealth Management and Finance.
  • Prepare the annual 3 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 Blue Book 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 changes required 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.  As well, 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.

• Manage the calculation and administration of complex variable compensation plans for PIC:
  • Work with PIC Management to ensure accuracy of source data.
  • Ensure the compensation plans are implemented as designed.
  • Direct and manage team members in the calculation of the compensation amounts.
  • Put forward the Finance position to cross functional team when it comes to creating new or altering any aspect of these plans.
  • 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.

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You'll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• 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.