Scotiabank

Manager, Benefits - Global HR (Contract)

Scotiabank • $100K — $120K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
Less than 5 years of experience
Reposted Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • Minimum of three years of experience in group benefits financial management.
  • In-depth knowledge of group benefit principles and legislation for Canada & US.
  • Ability to analyze benefit programs and provide comprehensive recommendations.
  • Strong analytical and strategic thinking skills for developing new programs.
  • High initiative and organizational skills to manage multiple projects.
  • Effective consultation skills in cross-functional settings.
  • Proficiency in Excel, PowerBI, Word, PowerPoint, and related software.
  • Associate of the Society of Actuaries (ASA) designation or relevant experience.

Responsibilities

  • Provide regular reporting and analysis of benefit programs financials.
  • Monitor trends, usage, and performance analysis of benefits and wellness programs.
  • Offer integrated solutions aligned with industry best practices and Bank strategies.
  • Ensure financial accuracy in policies and transactions within the General Ledger.
  • Coordinate the preparation of benefits budget projections and perform variance analysis.
  • Support financial reporting for pension & benefits plans quarterly and annually.
  • Assist with actuarial valuations for postretirement benefit plans and manage costs effectively.
  • Manage responses to audit requests on benefits financial reporting and compliance.

Benefits

  • Support for professional development and career advancement.
  • Inclusive work environment that values diversity and teamwork.
  • Access to comprehensive benefits programs, including flexible options.
  • Opportunities to lead and innovate in benefit program development.
  • Engagement in corporate social responsibility initiatives.
Full Job Description
Requisition ID: 257890

The Manager, Benefits has responsibility for the financial management, reporting and analysis of benefit programs for active, disabled and retired employees, primarily in Canada and the US. This includes mitigating related risk and cost associated with these benefit programs. The role provides analytical and consultative guidance to the department in identifying needs, interpretation, industry and regulatory standards. The Manager, Benefits also plays a role more broadly in supporting the actuarial analysis and financial reporting of the Bank's pension and benefits programs globally.
Is this role right for you? In this role you will:
  • Provide regular reporting and analysis of all benefit programs statistics and financials.
  • This includes monitoring trend, usage, costing, expense and performance analysis for all benefits and wellness programs, and identifying risk or opportunities for change.
  • Offer integrated and proactive solutions to check if internal trend is consistent with industry best practice and consistent with Bank strategies and goals.
  • Ensure all policies, underwriting agreements and transactions are appropriately accounted for; both in the Bank's General Ledger system and in the Bank's financial reporting process.
  • Coordinate/manage the preparation of the benefits portion of the department's budget projections, including external consulting/administration fees, benefit costs and premiums; perform variance analysis; track related expenses and pay invoices.
  • Support the financial reporting process for pension & benefits plans following established procedures every quarter-end and at year-end.
  • Assist with the management and preparation of actuarial valuations for certain postretirement and post-employment benefit plans - by external consulting staff - for design, funding, expense and forecasting purposes to effectively manage costs.
  • Manage department's response to both external and internal audit requests on benefits financial reporting and procedures (including under Sarbanes Oxley (SOX)). Update documentation on established procedures, as required.
  • Ensure benefit programs are designed with consideration of needs, cost-efficiency, competitive positioning, emerging industry trends and innovations, governance, best practices and compliance requirements (including taxation and other regulatory requirements). Products and programs include (but not limited to) group insurance
  • benefits for active employees and retirees (flexible & traditional benefits), short-and long-term disability, leave of absence, vacation, wellness, EFAP and other employee benefit programs.
  • Support the Canada & US Benefits team in preparing annual benefit strategies, annual enrolment and funding, change proposals, executive reporting and any internal and regulatory reporting requirements, particularly those of financial consequence.
  • Provide assistance on pricing the Canadian Benefits Plan, Retiree Flex Benefits and US benefits as required.
  • Review various underwriting and financial agreements with service providers in Canada and US to ensure compliance and accurate reporting.
  • Provide benefit expertise in support of business strategies including mergers, acquisitions and outsource initiatives, and support the completion of compliance activity reporting for the Pension & Benefits team. This includes assisting in the governance/oversight of vender contracts due-diligence activities on potential acquisitions/divestitures, and other ad-hoc projects as required.
  • Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Actively pursues effective and efficient operations of their respective areas, while ensuring the 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, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
  • Champions a high performance environment and contributes to an inclusive work environment.

Do you have the skills that will enable you to succeed? We'd love to work with you if you have:
  • Minimum of three years of experience in group benefits financial management.
  • In-depth knowledge and solid understanding of group benefit principles, processes and legislation, including financial and underwriting concepts for Canada & US
  • Ability to provide analysis of benefit programs (internally and externally) to furnish comprehensive recommendations for amendments/enhancements/introductions as a result of emerging trends, regulatory changes and /or industry best practice.
  • Ability to think analytically, strategically, creatively and conceptually when developing new benefit programs and/or reviewing existing programs. Including the ability to quickly gather, analyze and synthesize new/changing information and create sound recommendations and strategies that address organizational needs and consider short and long-term impacts.
  • High degree of initiative, organizational and investigative skills, ability to focus, prioritize and action multiple projects with conflicting immovable deadlines.
  • Effective consultation skills.
  • Fully functional technical skills with respect to software programs, such as Excel, PowerBI, Word, Power Point, and other programs.
  • The ability to work independently and as part of a team, including the ability to build close working relationships with a large number of individuals across the Bank and among external advisors and vendors.
  • Associate of the Society of Actuaries (ASA) designation or relevant experience.


Location(s): Canada : Ontario : Toronto

About Scotiabank

Scotiabankers are committed to helping individuals, companies, and communities to thrive in a changing world. From personal and business banking, brokerage, and insurance, to private wealth, and the most sophisticated commercial, corporate and institutional services, they serve the diverse needs of some 21 million customers in more than 55 countries. Founded in 1832 in Halifax, Nova Scotia, their growth has always been fuelled by the success of their customers and their longevity secured by an unshakable commitment to carefully and expertly managing risk and capital. That focus on doing what's right for customers—short- andlong-term—has made us a global financial services leader. Headquartered in Canada, they are over 86, 000 Scotiabankers strong. Each of us are committed to being the best at understanding their customers' needs and all of us working together to deliver practical advice and relevant solutions that help their customers become financially better off.

Scotiabank Careers

Join Scotiabank, a premier financial institution, and become part of a diverse and inclusive team that’s leading the way in global banking. At Scotiabank, we offer more than just job opportunities; we provide a platform for professional growth and innovation in the financial services industry.

Work You’ll Do

At Scotiabank, we’re not just filling positions; we’re cultivating leaders. Dive into a workplace where diversity training and leadership development shape the path to your future. Our commitment to professional growth is evident in our robust training programs and continuous learning opportunities that foster innovation and strategic thinking.

Explore a World of Opportunities

Whether you’re looking for a full-time position, an internship, or a leadership role, Scotiabank has a spectrum of opportunities to fit your career ambitions. Our team is composed of individuals who bring a wealth of skills and perspectives to our company, driving us forward with their creativity and strategic insights.

Innovative Work Environment

Scotiabank’s culture is one of collaboration and respect, where each team member’s contribution is valued. Engage in meaningful work that challenges you to leverage your skills and push the boundaries of what’s possible in the banking sector. Our innovative projects not only support the growth of the company but also ensure our position as a leader in the industry.

Benefits and Growth

Choosing a career at Scotiabank means opting for a life of growth and opportunity. Our employees enjoy competitive benefits, including comprehensive health coverage, retirement plans, and flexible working conditions, all designed to support your career and personal life. We believe in nurturing our team’s potential by providing them with the tools they need to succeed both professionally and personally.

Join Our Team

Ready to take the next step in your career? Explore the job opportunities at Scotiabank by searching our open positions that match your skills and interests. We are continuously hiring and looking for passionate, curious, and solution-driven team players.

Networking and Professional Development

Stay connected and advance your career through Scotiabank’s extensive networking opportunities. Participate in events that connect you with other professionals and leaders within the industry. Our career resources will help you prepare your resume, ace your interviews, and land the job that best suits your career goals.

Stay Ahead

Keep up to date with the latest in career tips, industry insights, and company news—all from the people who work here at Scotiabank. Personalize your experience by subscribing to job alert emails tailored to your preferences and be the first to know about new openings and exciting developments. Join Scotiabank and be part of a team that values integrity, respect, and accountability. Discover how your career can flourish in an environment committed to your professional development and personal growth.
Learn more about Scotiabank
Size
90,619 employees
Market Cap
$57.5 billion
Industry
Finance & Insurance
5 Year Trend
+7%
NASDAQ
BNS
* Ladders Estimates

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