Director, Financial Accounting, Reconciliation and

5 months ago

Toronto, Canada Scotiabank Full time

Requisition ID: 201938

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

Member of the senior management team in the Chief Accountant’s group and is responsible for directing the following:

- Lead the Specialized Accounting team to perform centralized accounting and processing services for EO Finance Entity 1 in People Soft General Ledger.
- Review and approve accounting journal entries
- Lead Governance and execution of Intercompany reconciliation process
- Lead the reconciliation team to perform monthly centralized financial reconciliation process of Asset classes (GLRAS), Reconciliation of intercompany and interbranch financial transactions and reconciliation of Investment Report (IR) database for the Bank.
- Track and collaborate with stakeholders to investigate and remediate data issues relating to all reconciliation processes. Escalate material, long-outstanding issues to or Senior Management, as required.
- Lead the Specialized Accounting team to perform centralized accounting and processing services for EO Finance Entity 1 in People Draft General Ledger.
- Review and approve accounting journal entries
- Oversee the Bank’s legal entity accounting and prepare the annual deconsolidated financial statements
- Monitor retained earnings, profit close out processes (PCO), and suspense accounts pertaining to branches
- Responsible for certain financial statement notes disclosures
- Participate in other projects/duties as assigned by Management

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

- Lead Intercompany Reconciliation to drive consistent practices for an effective control environment to provide reasonable assurance over the accuracy, completeness and reliability of financial and regulatory reporting including timely escalation of intercompany mismatches/ differences requiring correction.
- Responsible for overseeing the centralized financial data reconciliation process:

- This includes providing CDS certification based on reconciliation results, and escalating significant reconciliation issues to Financial Reconciliation Steering Committee on a timely basis
- Monthly compensating control process for Risk Groups, as per the Interim Process for Decentralized Reconciliations Standard
- Monitor and report all-bank reconciliation coverage to Risk Groups and Financial Reconciliation Steering Committee, run quarterly Financial Reconciliation Steering Committee meetings and perform annual review and update of Financial Data Reconciliation Standard
- Collaborate with Risk Groups and IT&S for opportunities to onboard new processes into GLRAS.
- Collaborate with the Data Office and the RDARR Office; participate in RDARR Working Groups and other relevant Steering Committees/working groups to support RDARR compliance and other data quality improvement initiatives.
- Oversee other all-bank reconciliation processes including:

- Maintenance of Investment Report (IR) database and monthly reconciliation of securities database to OBI
- Track and escalate material long outstanding issues to senior management as required.
- Work with GFT for opportunities to enhance the functionality of IBIC/securities database
- Lead the Specialized Accounting team to perform centralized accounting and processing services for EO Finance Entity 1 in (PSGL). This includes the Bank’s investment and divestiture activities, capital transactions and dividend payouts, fixed assets management, profit remittance and other day-to-day transactions. Review and approve accounting journal entries
- Oversee the Bank’s legal entity accounting and prepare the annual deconsolidated financial statements
- Monitor retained earnings, PCO, suspense accounts pertaining to branches
- Responsible for quarterly and annual MD&A and note disclosures such as PCL ratios, Share Data, NCIB, Shareholders’ Information and Provision
- Provide support for projects that impact FAR and participate in other projects/duties as assigned by Management.
- Respond to requests/queries from Internal/External Auditors, Data Office, RDARR Office and other regulatory bodies relating to all reconciliation processes in a timely and professional manner. Propose and implement action plan to remediate any findings.

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

- The incumbent must be an effective leader with the ability to contribute to business and strategic planning. The incumbent must be resourceful, a self-starter, possessing a high degree of flexibility, creative thinking and confidence to carry out innovative solutions. Well-developed judgement, management, decision-making and problem-solving skills are required in order to effectively deal with a rapidly changing, complex business environment.
- The incumbent must possess expert time management skills in order to manage multi-functional accountabilities through prioritization, delegatio

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