Manager, Wealth Management - Finance

Socket.dev; Toronto; On-site; CAD 110,000 - 170,000; Full time

Job summary

Scotiabank is seeking a Manager, Wealth Management Finance to oversee financial analysis and reporting for the Private Banking Business Line within Canadian Wealth Management. You will ensure timely analysis of monthly/quarterly results, forecasts, and annual profit plans, while collaborating on incentive compensation plans related to Private Banking.

You will coordinate finance reporting, perform variance analyses, support strategic forecasting, and develop financial models for new initiatives

Qualifications

• Strong knowledge of accounting, financial, and management reporting and budgeting rules and principles.
• Advanced proficiency in Excel (including complex formulas and functions), PowerPoint, and Word.
• Experience with database management (e.g., Access) is an asset.

Responsibilities

• Coordinate the development and preparation of finance reports for the Canadian Wealth Management Business Line (Scotia McLeod).
• Monitor results against performance metrics and key business indicators.
• Conduct monthly revenue and net interest income variance analysis.
• Manage Revenue and NII models with monthly/quarterly updates.
• Provide KPI reporting and commentary for Finance reporting to executives.
• Run strategic planning, forecasting, and annual profit plan activities.
• Develop and maintain financial models for new initiatives.
• Perform monthly reconciliation of sub-GL to EGL/INEA and review metrics in Hyperion/Anaplan.
• Prepare ad-hoc reporting and resolve finance-related issues.

Skills

Excel proficiency

Financial reporting

Variance analysis

Budgeting

Communication skills

Project management

Tools

Excel

PowerPoint

Word

Oracle BI

PeopleSoft

Access

Job description

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

Purpose

The Manager, Wealth Management Finance oversees financial analysis and reporting functions for the Private Banking Business Line within the Canadian Wealth Management segment of Global Wealth Management. In this role, the incumbent ensures the integrity and timely analysis of monthly/quarterly results, quarterly forecasts, and annual profit plans for submission to Wealth Management & Finance.Additionally, the Manager collaborates with the business on various complex incentive compensation plans related to Private Banking.

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

Financial Reporting and Analysis:

• Coordinate the development and preparation of finance reports for the Canadian Wealth Management Business Line (Scotia McLeod).
• Monitor results against performance measurement criteria and key business metrics, including:

• Conduct monthly revenue and NII variance analysis.
• Manage the Revenue and Net Interest Income models by updating monthly/quarterly actuals for various products, FTP rate, and NII/margin analysis.
• Various sales, Fees and net interest income (NII), volume expense, and profit and loss (P&L) reporting and analysis.
• Provide various Scotia McLeod key performance indicator (KPI) reporting and analysis.

Commentary and Reporting:

• Provide monthly and quarterly commentary on financial and metric information as required for Canadian Wealth Management Finance reporting.
• Report metrics to external agencies for performance benchmarking.

Strategic Forecasting and Planning:

• Run the Strategic & Annual Profit Plan, Stress Test Scenarios, and monthly forecasts, including:

• Update planning/forecasting models
• Prepare and distribute annual budget packages for stakeholders.
• Assist business lines in completing their budget packages.
• Monitor and upload budgets/forecasts onto respective systems.
• Prepare consolidated analytics for review and approval by the Director of Finance and other executives.
• Analyze variance to plan and previous forecasts, updating the model for NII numbers.

Financial Modeling for Initiatives:

• Develop, maintain, and update financial models supporting new initiatives and projects proposed by Business Line Heads.
• Analyze the financial impact of new initiatives through scenario modeling.
• Provide recommendations to Senior Management.

Reconciliation:

• Perform monthly reconciliation of the sub-GL to EGL/INEA for the business line.
• Work with center team / business leads to review Hyperion / Anaplan metrics / data.

Ad-Hoc Reporting and Issue Resolution:

• Prepare ad-hoc reporting and analysis as required.
• Provide resolution for finance-related issues and support key stakeholders.

Additional Duties:

• Perform other assigned duties.

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:

• Strong knowledge of accounting, financial, and management reporting and budgeting rules and principles.
• Advanced proficiency in Excel (including complex formulas and functions), PowerPoint, and Word.
• Experience with database management (e.g., Access) is an asset.
• Strategic problem-solving skills, identifying issues and recommending viable solutions.
• Accountability for providing excellent service and promptly resolving customer problems in a professional manner.
• Skills to efficiently manage multiple priorities to ensure timely delivery while maintaining strong attention to detail.
• Proactive, independent work attitude.
• Possesses strong organizational skills and effective problem-solving abilities.
• Demonstrates excellent verbal and written communication skills, as well as strong communication, presentation, and interpersonal skills for effective interaction with senior management and team members.
• Advanced analytical skills.
• Ability to assist other department members and the organization to meet objectives.
• Familiarity with Oracle Business Intelligence (OBI) and PeopleSoft.
• Ability to interact effectively with all levels of management.
• Strong prioritization skills for managing rigorous deadlines and processes.
• Systematic approach to planning and problem-solving.
• Experience in handling complex issues and exercising sound judgment.
• Adaptability and effective collaboration with various individuals or groups.
• Strong leadership skills for team development.

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 our 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.

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.