Senior Manager, Financial Planning & Analysis (Global Wealth Management Finance)

Job Responsibility:

Requisition ID: 224976 Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Senior Manager, Financial Planning & Analysis supports the strategic direction, leadership and oversight for finance matters for Global Wealth Management (GWM) 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 processes, controls and reporting of data for Global Wealth Management. As a key partner to the overall GWM Finance management team the Senior Manager, Financial Planning & Analysis is responsible for providing in-depth financial analysis to support the Wealth Management Profit Plan, Forecasts and Actuals for ongoing P&L and profitability reviews.

This includes; 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 leadership role is expected to act as a lead and subject matter expert on executive reporting and expense management initiatives, including cross-training business line finance teams to enhance the overall capabilities for Global Wealth Management Finance.

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

Leadership:

• Lead and drive a customer focused culture to deepen relationships and leverage broader Bank relationships, systems, knowledge and contribute to an inclusive work environment.
• Independently prioritize and drive cross-functional initiatives
• 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 operational improvements embedded in Finance processes. Identify and implement continuous improvement opportunities to streamline end-to-end processes, enhancing business partner and employee experiences.
• 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.

Own and drive the reporting activities for GWM Finance (FP&A Activities):

• Lead the Global Wealth Management (GWM) consolidation process for Forecasting and annual Plan across multiple business groups within GWM. Including;
  • Executive Reporting for Global Wealth Management Finance, including Monthly and Quarterly Management reporting, Quarterly Bluebook, Monthly Forecast and Annual Profit Plan binders
  • Lead coordinating the high level and detail Forecast and Business Planning processes for each segment
  • Review business assumptions and assess for reasonability when comparing with forecasts and plan to ensure reasonable and appropriate
• Drive analysis and insights on expense streams, including IT&S project costs (SIP), preparation and timely completion of monthly forecasts and month end results reporting/analysis
• Drive analysis of monthly expense results, including analyzing functional activity and consulting with leaders and business partners, and preparing insightful commentary on results and variances
• Preparation of various monthly reports and dashboard leveraging tools such as Power BI platform
• Work collaboratively with other finance team members to ensure financial results are aligned with business strategy
• Regular and ad hoc analysis of expense line items and categories, deep dive analysis and preparation of various reports to GWM business partners / teams
• Maintain high level of accuracy and challenge variances

Support the Bank Strategy and GWM Strategy:

• Serve as the main point of contact to the GWM finance partners and Enterprise FP&A teams, providing business context, guidance and oversight
• Manage and balance multiple business unit and senior leadership requirements to meet deadlines and goals in a fast-paced, and sometimes ambiguous environment
• Review monthly consolidated results and monthly / quarterly financial reporting package prepared by the finance teams including year to date results and variance analysis. Challenge where appropriate
• Hold monthly review meetings with finance leaders and business leaders to review the financial information
• Review allocations within GWM and also from the Bank's corporate function team on an ongoing basis for appropriateness
• Draft and own concise financial commentary on expenses Review the commentary with senior leaders in GWM Finance and business teams
  • Point out trends, risk and opportunities
  • Always be forwarded looking in discussions
• Improve quality and timing of information reported
• Provide leadership, coaching and direction to the team on day-to-day operations

Strategic Support and Stakeholder Engagement:

• Support the implementation of strategies such as expense transparency and oversight
• Identify and capture opportunities based on analysis and deep understanding of the wealth business
• Drive monthly and quarterly discussions with finance partners on expense optimization opportunities
• Maintain strong internal controls and ensure audit readiness across all financial functions.
• 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
• Strong executive reporting skillset, with the ability to translate large sets of data into a summarized view for executive consumption a must-have
• Strong expense management background, with expertise in deep diving into expense categories to understand underlying drivers
• Experience in working with Hyperion, OBI or similar financial applications preferred, including building ad-hoc queries and reconciliations back to control totals
• 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 management/accounting methods and practices including product profitability, ROEE measurement techniques.
• 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 through the use of 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.

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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. 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.