Assistant Manager, Consolidations

Requisition ID: 177760

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

**Job Purpose**:
The Consolidation team manages and oversees many critical processes in the preparation of the Bank’s consolidated financial statements and provides information and analyses to senior management and other key stakeholders in the Bank. Consolidation department is responsible for ensuring the integrity of the financial information on the Bank's consolidation transits and various subsidiaries. To carry out these activities, the Consolidation department coordinates with various departments and other teams within EO finance such as Accounting Policies and Procedures.

The individual is responsible for handling: Accounting for Associated Companies; Monitoring and Reconciliation of Investment and Capital of Subsidiaries; Monthly monitoring and reconciliation of Subsidiaries Retained Earnings; Manage Quarterly and Annual reporting of Goodwill and Other Intangible Assets; Closing and elimination entries; supervision of the Analyst assigned to this role and other duties in support of potential transactions or other initiatives.

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

- Accounting for Associated Companies
- Analyses of domestic and foreign Financial Statements and preparation of Equity pick-up and dividend calculations.
- Reconciliation and calculations of the monthly Other Comprehensive Income (OCI)
- Reconciliation and calculations of the deferred taxes on Associated Companies (outside basis tax difference);
- Reconciliation of the Quarterly Shareholder’s Equity section of the Financial Statements versus Scotia Bank Ownership of Associated Companies.
- Calculation of the Carrying Value of the Associated companies and related schedules including researching items to determine inclusion/exclusion in the schedules.
- Preparation of Quarterly Notes to the Financial Statements on Investments in Associates
- Investigate breaks in the Financial Statements and work with Business Partners to reconcile.
- Manage the reconciliation of Subsidiaries Investments and Share Capital includes:
- Preparation of Reports to monitor the monthly movements in Investments against the share Capital
- Investigate the Breaks and immediately correspond with Subsidiary owners wherever Scotiabank does business to reconcile
- Preparation and calculations of Forex timing differences on multicurrency Investments.
- Preparation of the monthly Report of Investment and Capital offset
- Manage the reconciliation of Subsidiary Retained Earnings includes:
- Monitor and analyze the Opening Retained Earnings of the Subsidiaries including proper rollover of net Income of prior year.
- Liaise with Subsidiary owners and several Departments across Scotiabank to reconcile
- Preparation and reconciliation of Consolidated Subsidiary Retained Earnings
- Monitor and reconciliation of automated Retained Earnings Offset process and preparation of related Reports.
- Manage the quarterly and annual reporting of Goodwill and other Intangible assets
- Preparation and supervision of the input of all Journal entries to record Accounting for Associated Companies; reconciliation of Investment and Capital and the reconciliation of Retained Earnings
- Supervision and management of the Analyst assigned to this role including daily activities, their development and end of year review
- Involvement in Other ad hoc reconciliations and analyses as requested

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

- Understanding of accounting concepts and principles, including consolidation and forex and accounting for Associated Companies.
- Good analytical, problem solving, and communication skills.
- Excellent organizational skills with the ability to prioritize work to meet deliverables and adapt to change in a fast-paced dynamic environment.
- Ability to work under pressure and meet tight deadlines. The incumbent will be required to work overtime (including weekends and holidays) to meet quarter-end deadlines and other deliverables.
- Ability to communicate with senior management and participate as a member of the team and support a positive work environment
- Contribute to building a positive work environment where teams can openly report challenges and exchange ideas, knowledge, and skills to maintain a good working relationship to achieve the common goal.
- University degree with major in Business Administration Accounting. Preference will be provided to the holder of a recognized accounting designation (CGA, CMA, CPA) or in the final years of completion.
- Experience in financial accounting and reporting with a large organization is an advantage.

**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, Emplo