Senior Financial Analyst

3 weeks ago


Old Toronto, Canada Scotiabank Full time
Job Overview

A financial analyst position has become available in Scotiabank's Global Risk Management (GRM) Finance team. As a Senior Financial Analyst, you will play a key role in supporting financial reporting, planning, forecasting, and expense management for several risk functions within GRM.

About the Role

This senior-level position involves collaborating with various teams within GRM, corporate functions, and different business line stakeholders across the Bank to optimize resource utilization and meet financial objectives.

The ideal candidate will possess excellent analytical skills, strong problem-solving abilities, and effective communication skills. Experience working in a team-oriented environment is highly valued.

Key Responsibilities
  • Oversee and analyze operating expenses within approved budgets, identifying and investigating variances.
  • Ensure monthly accruals are accurately recorded and adhere to the Bank's expense policies.
  • Monitor actual expenses against budget, prepare accruals, reconcile financial statements, and resolve outstanding issues with accounting teams.
  • Investigate unusual expense variances and conduct reasonability checks to ensure accuracy.
  • Support the Senior Manager, GRM Finance in various ad-hoc analysis, financial reporting, and other special projects as assigned.
Planning, Forecasting & Reporting:
  • Compile and analyze monthly/quarterly financial data, including expense and headcount metrics, and provide variance analyses and commentaries.
  • Develop and maintain financial models, automating reporting processes and creating process controls to enhance data accuracy and efficiency.
  • Produce monthly and quarterly management financial reports, summarizing financial performance for senior management and stakeholders.
  • Assist in the development of business line allocation models and analyze the impact of any changes on expenses and allocations.
Relationship Management & Stakeholder Support:
  • Build and maintain strong relationships with internal and external stakeholders, including GRM, Corporate Functions, Finance, and accounting teams.
  • Partner with departments to provide financial insights and analysis, enabling data-driven decisions on budget planning, cost reduction activities, and ongoing financial management.
  • Support financial system-related requests, including access issues and testing new functionalities.
  • Contribute to process enhancements, offering suggestions to improve the accuracy, integrity, and efficiency of financial data.
  • Actively pursue effective and efficient operations of his/her respective areas, while ensuring adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk.
Requirements
  • Bachelor's degree in finance, accounting, or a related field.
  • Minimum 3+ years of experience in financial analysis, planning, or management reporting, preferably within a financial institution.
  • Proficient in analyzing large data sets in Excel, applying filters and pivot tables, data management tools (e.g., Alteryx, SQL), and visualization tools (e.g., Power BI).
  • Knowledge of financial systems such as EGL, OBI, Hyperion, or Smart View is an asset.
  • Organized and detail-oriented, with curiosity to streamline and standardize processes.
  • Strong analytical, problem-solving, and organizational skills, with the ability to meet tight deadlines.
  • Effective communication skills, with experience working in a team-oriented environment.
  • Self-driven, energetic, and team player attitude.
  • Familiarity with general ledger systems and budgeting principles.
  • Ability to adapt to changing priorities and manage multiple tasks efficiently.
What We Offer
  • An inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success.
  • A competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one.
  • Career matters You will have access to career development and progression opportunities.

Estimated salary range for this position is $80,000 - $110,000 per year, depending on qualifications and location. 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.



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