Financial Control and Analysis Accountant
4 weeks ago
Requisition ID: 204539
Scotiabank is a prominent financial institution in Canada, dedicated to providing innovative banking solutions and exceptional client service. Our mission is to empower our employees and enhance the lives of our clients through our commitment to excellence and community engagement.
The Finance Division at Scotiabank plays a crucial role in capturing and reporting financial data for both internal and external stakeholders, adhering to relevant standards. This division also undertakes essential functions such as managing treasury operations, ensuring accurate transaction details are recorded in our systems for proper valuation and cash settlement. Additionally, the Accounts Payable team is responsible for timely discharge of all financial obligations, while the Management Accounting Team delivers insightful reporting and analysis to support senior management in decision-making processes and prepares monthly forecasts regarding the Bank's anticipated earnings.
Our Finance Division continuously evaluates risks and controls, implementing measures to maintain an effective internal control system over financial reporting and other finance-related functions. Furthermore, Finance collaborates with various business units to facilitate the successful execution of corporate initiatives.
The Financial Control and Analysis Accountant is tasked with executing a vital control function to ensure precise reconciliation of all balance sheet and profit & loss accounts, in compliance with the Bank's accounting policies and IFRS standards. This role requires a comprehensive understanding of the sources, processes, and justifications for all entries recorded in the general ledger, ensuring that financial data is accurately represented and reconciled with relevant sources. The incumbent will liaise with other departments or service providers as necessary to investigate and resolve discrepancies, reporting directly to the Reconciliation Manager.
Key Responsibilities:
- Analyze assigned general ledger accounts for accuracy.
- Provide explanations for variances in assigned accounts.
- Reconcile general ledger accounts related to the Bank's product offerings, ensuring timely identification and resolution of reconciling items.
- Reconcile accounts associated with operational activities, ensuring prompt resolution of discrepancies.
- Investigate and resolve reconciliation issues across multiple channels and vendors.
- Coordinate with external vendors and internal teams to address issues effectively.
- Ensure compliance with SOX requirements for assigned accounts.
- Assist in responding to external audit inquiries and preparing requested materials.
- Identify and implement process improvements to enhance efficiency and accuracy.
- Update reconciliation procedures as necessary.
- Perform other duties as assigned.
Qualifications:
- Education/Experience:
- Minimum of 2 years of reconciliation experience.
- Experience with retail banking products, particularly credit cards with loyalty programs, overdraft accounts, and deposits.
- Professional Certification:
- Completion of a financial accounting designation is an asset (Canadian or overseas).
- Specialized Knowledge:
- Understanding of IFRS requirements.
- Strong knowledge of banking products, including mortgages, investments, mutual funds, credit cards, overdraft accounts, and retail deposits.
- Technical Skills:
- Systematic approach to problem-solving.
- Advanced proficiency in Excel and Access.
- Abilities:
- Proven ability to manage multiple tasks and prioritize effectively.
- Capability to meet tight deadlines successfully.
- Attributes:
- Logical, organized, and clear thinking.
- Excellent verbal and written communication skills.
At Scotiabank, we value the diverse skills and experiences each individual brings to our team and are committed to fostering an inclusive and accessible environment.
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