Job Description

Requisition ID: 158246

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Director, ScotiaMcLeod Finance is responsible for the strategic direction, leadership, and oversight for all finance matters for ScotiaMcLeod Full-Service Brokerage ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, Bank internal policies and accepted accounting principles. The Director is responsible for the integrated management reporting, profit planning and forecasting activities of ScotiaMcLeod and its branch network. The incumbent also drives and supports all strategic and business initiatives to optimize the financial positions of the business and the Bank. He/she is also responsible for designing, developing, and maintaining the MIS reporting system and financial analytics. The incumbent is responsible for managing the priorities for the Finance department as well as working closely with Director/VP level individuals within the GWM business line and other departments of the Bank on high profile projects.
Key Accountabilities:

• 
  Responsible for financial reporting for ScotiaMcLeod Full Service Brokerage (SMFS). This includes certifying the accuracy and integrity of the financial results, MIS reporting, identifying issues and providing business explanations on the monthly and quarterly P&L to the business leadership. As a key partner to the ScotiaMcLeod Senior Management Team, the Director will serve as counsel to the SVP and Head of ScotiaMcLeod business unit on all finance related matters and ensure all business line obligations are fulfilled from a finance perspective.
• Sustain strategic relationships and develop alliances with key contacts, business partners (Regional VPs and Branch Managers) and stakeholders (other business line partners) to deliver on mandates and provide value-added analysis and insight. Build and reinforce effective working relationships and collaboration within and across the wealth business.
• Drives all business and financial initiatives for ScotiaMcLeod and ensures seamless integration within GWM and the broader Bank. Develops and implements processes related to management reporting including financial and profitability analysis, annual planning process, operating and capital budgets, financial forecasts and expense management tools. This accountability involves providing senior executives with a focused understanding of financial performance and strategic issues and ensuring the annual plan and all strategic initiatives support the businesses short and long-term financial goals.
• Drive the annual profit planning and quarterly forecasting processes for ScotiaMcLeod by:
  • Coordinating the 3 Year Financial Projections, high level Business and Strategic Plan processes
  • Determining the business growth assumptions, fee-based revenue and interest income models as well as expense plans for the business unit, branches and head office departments
  • Work with the Business Line to build annual plans and quarterly/multi-year forecasts for the entire business, including all balance sheet and P&L items (including Business Case Pool projects)
  • Lead the development of sensitivity analysis and stress-testing scenarios
  • Working with Finance partners, provide stewardship on behalf of the business line and initiate enhancements where required to Funds Transfer Pricing methodologies for products
  • Lead the production of various monthly and quarterly performance dashboards and scorecards including value-added performance commentary and variance analysis.
• Manages the process to design, build and maintain the integrated management information infrastructure within the business unit. This responsibility includes integrated systems of management reporting, profitability reporting and both strategic and tactical research & developing analytics to support the division’s major initiatives.
• Directs the process to administer all sales incentive and performance related compensation programs within the business. In the development stage, this responsibility involves key participation in development, design and updates of performance related programs and overseeing financial modeling expertise. In the maintenance stage, the incumbent manages the measurement process and ensures integrity to authorized programs.
• Develops financial analysis to support new business cases:
  • Provide advice and counsel to Business Line and take the lead where necessary in building robust financial models, including sensitivity analysis to support good business decision making.
  • Coordinate the review and approval of business cases by CB PMO and EO PMO as required
• Influences, provides recommendations and business decision support to senior management in identifying opportunities, evaluating strategic initiatives and resolving issues of concern of a financial nature on behalf of the Senior Management of Finance.
• Provides strong leadership to motivate individual and team performance and contribute to the effective functioning of the team by:
  • Communicating the Bank and Finance Department’s strategic direction to the team.
  • Negotiating and effectively communicating individual and team goals and objectives.
  • Developing and executing meaningful Personal Development Plans; motivating and contributing to the development of subordinate/team performance in current job and for future opportunities.
  • Recognizing subordinate/team development needs and taking an active role in addressing gaps; exhibiting self-awareness around one’s own impact on the team and when necessary, adjusting leadership and motivational qualities to maximize subordinate/team performance.
  • Facilitating a culture of open and honest communication; encouraging the generation of new ideas and approaches.
  • Actively sharing knowledge and experience to enhance the development of all team members.

Experience / Education:

• 
  A University degree and an accounting designation (CPA, CA, CMA, CGA) with solid working experience in the financial management field.
• A good understanding of Wealth Management operations and business activities
• Excellent interpersonal skills and comfortable to work effectively with Business Leadership
• Strong management and leaderships skills and high degree of flexibility and creativity to deal effectively in a rapidly changing and complex business environment
• Ability to influence managers at different levels
• Strong financial analysis, control and reporting experience
• Strong conceptual, analytical, problem solving and organizational skills

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. 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.