Senior Financial Analyst, Insurance Canada Financial Reporting

Requisition ID: 236561

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 units 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. Included in this mandate is the processing of expense requisitions bank & account reconciliations analysis of actual financial results relative to Plan and general ledger maintenance. The role will also assist in promoting sound corporate governance is it relates to financial matters.

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

Financial Reporting

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 Banks 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

• Liase with various groups within Insurance Canada and the Bank to resolve various queries and accounting issues.
• Understands how the Banks 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 Scotiabanks 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 - Wed 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. This includes the ability to work quickly and accurately for sustained periods of time juggling multiple priorities.
• Strong interpersonal skills and the ability to work effectively and diplomatically with those outside of Global Insurance Finance (i.e. build good relationships with key internal stakeholders).
• 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.

Whats 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.

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.