Senior Financial Analyst, Insurance Canada Financial Reporting

Scotiabank; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading financial institution in Toronto is looking for a Senior Financial Analyst in Insurance Canada Financial Reporting. This role involves managing daily accounting processes and preparing financial results for subsidiaries. Ideal candidates have a background in Accounting/Finance and 3-5 years of experience in financial reporting. The company offers a competitive rewards package and values diversity in its workplace.

Benefits

Performance bonus

Employee Share Ownership Program

Health Benefits from day one

Qualifications

• 3-5 years’ experience in reporting for a financial institution.
• Ability to exercise sound judgment under time pressure.
• Willingness to learn General ledgers and reporting tools.

Responsibilities

• Process expense requisitions ensuring accuracy before payment.
• Prepare internal and external financial statements.
• Assist with management reporting and monthly forecasting.

Skills

Highly organized

Strong interpersonal skills

Good analytical/database skills

Advanced Excel skills

Understanding of Canadian accounting principles

Analytical skills

Education

Post-secondary education in Accounting/Finance

CPA/accounting designation (preferred)

Tools

PeopleSoft

SmartBuy

Job description

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

The Senior Financial Analyst, Insurance Canada Financial Reporting is key to maintaining the business unit’s day-to-day accounting process and supporting external reporting requirements. Reporting to the Senior Manager, Insurance Canada Financial Reporting and working closely with the business, the role will perform day-to-day accounting and legal entity financial reporting for 2 entities used by Insurance Canada to transact business.

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

Primary responsibility will be with day-to-day accounting and monthly preparation / analysis of financial results for 2 Insurance Canadian Scotiabank subsidiary legal entities.

Responsibilities include:

• Processing of expense requisitions - ensuring expenses are valid, accurate and properly approved prior to payment being made.
• Responsible for reviewing monthly staff expense report for compliance with bank policies and performing the related accounting and payables activities.
• Processing journal entries to reflect expense accruals or other routine month-end reporting.
• Performing bank and/or other reconciliations including following up and addressing reconciling items.
• Analysis of financial results and monthly operating expense reports and documenting commentary for key variances.
• Ensuring all taxes (GST/HST, Income tax etc.) are paid on a timely basis and properly accounted for, and preparation of the annual tax return filings.
• Maintaining the records retention system for Insurance Canada Finance in accordance with Bank policy.
• Supporting the accounts payable process including responding to requests from Business unit staff and vendors as necessary.
• Preparing internal and external financial statements.
• Performing monthly/quarterly forecasting and annual planning process.

Management Reporting

• Responsible for assisting Senior Manager, Management Reporting in the preparation of Monthly Insurance Dashboard.
• Identify and action enhancements to the monthly Insurance Dashboard.

PeopleSoft General Ledger Functionality

Assist with maintaining the integrity of the PeopleSoft general ledger used by Insurance Canada Finance for reporting purposes. Responsibilities include:

• Assisting with the testing for updates to the ledger accounts, account roll-up structures, and systems reports for those changes made in the Bank's ledger that impact the Insurance Canada operations.
• Assisting with the testing of the annual income statement close process.
• Assisting with the upload of business line expenses to PeopleSoft.

Leadership

• Liaise with various groups within Insurance Canada and the Bank to resolve various queries and accounting issues.
• Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Actively pursues effective and efficient operations of Insurance Canada Finance 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.
• Champions a high-performance environment and contributes to an inclusive work environment.

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

• Post-secondary education (i.e., university degree or diploma) in Accounting/Finance is required.
• Preferred if CPA/accounting designation is being pursued.
• The individual will require 3-5 years’ experience in the field of reporting for a financial institution, preferably within the insurance industry.
• Highly organized with a demonstrated ability to exercise sound judgment under time pressure.
• Strong interpersonal skills and the ability to work effectively and diplomatically with those outside of Global Insurance Finance.
• Good analytical/database skills, advanced Excel / financial reporting tools skills, and good written communication skills.
• Demonstrated willingness and ability to learn and obtain proficiency on all required General ledgers (PeopleSoft and EGL), Databases and reporting tools including for example OBI.
• An awareness of Canadian accounting principles, financial reporting, Canadian statutory reporting – all as they relate to the insurance industry.
• A good understanding of Bank expense policies.
• Analytical skills to sift through complex policy material, understand their implications, and provide viable management reporting.
• An understanding of corporate governance and an appreciation for maintaining a strong financial reporting internal control environment.
• A strong working knowledge of a general ledger system – preferable PeopleSoft and payable system SmartBuy.

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.

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.