Scotiabank

Manager, Finance & Accounting - Finance

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

Qualifications

  • University degree in business, accounting, or finance required
  • Thorough understanding of financial and management accounting principles; accounting designation/MBA preferred
  • Database experience (MS Access, SQL scripts) is a plus
  • Strong analytical skills with knowledge of the banking industry
  • Familiarity with Automotive Finance products and internal Bank systems desirable
  • Experience in budgeting and financial reporting processes and accounting policies
  • Proficient in MS Office suite, particularly Excel and Access; excellent communication skills
  • Strong problem-solving, organizational and consensus-building abilities

Responsibilities

  • Manage comprehensive financial reviews and evaluations of manufacturer lease escrow funds
  • Prepare monthly variable compensation calculations for sales team
  • Oversee general ledger accounts and transit hierarchy for accurate reporting
  • Implement and maintain financial operations for accurate financial reporting
  • Prepare amortization schedules and reconcile amounts with GL balances
  • Provide management accounting support to senior leaders
  • Contribute to team performance and support team objectives

Benefits

  • Work in a collaborative team environment
  • Opportunity for ongoing professional development
  • Engagement with senior management and cross-functional teams
  • Access to comprehensive financial resources
  • Contribute to significant financial processes impacting the Automotive Finance sector
Full Job Description
Requisition ID: 270852

The Manager, Finance and Accounting is responsible for all financial accounting and financial operations processes for Automotive Finance & Indirect Lending including but not limited to various amortization processes, business line revenue and expense allocations, subvented manufacturer lease escrow fund management, review and implementation of GST/HST and PST, and reporting and the implementation and maintenance of new financial processes and controls at Automotive Finance & Indirect Lending (AF&IL) . The Manager provides financial and accounting advisory support and service to Senior Manager, Pricing & Finance, Directors, Vice-Presidents, and Senior Vice-President, Automotive Finance & Indirect Lending.

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

  1. Manages the comprehensive financial review, analysis and evaluation of all of manufacturer subvented lease escrow funds to ensure they are in accordance with the contractual agreements between the manufacturer and Scotiabank. Accountability responsibilities are:
    1. Manages the preparation of portfolio information to third party companies (Residual Value Insurance Group, Automotive Lease Guide for the periodic review (quarterly, semi-annually) of estimated escrow fund residual gains/losses
    2. Manages the preparation of regular reports to manufacturer clients on all lease escrow fund transactions, including a detailed, lease-level breakdown of all end of term lease proceeds
    3. Manages the communication and timely collection/disbursement of all manufacturer lease escrow fund withdrawals/deposits to manufacturer clients
    4. Manages the implementation and maintenance of end of term lease escrow fund accounting processes between the Dealer Lease Administration Centre and Canadian Dealer Lease Services Inc.
    5. Manages the investigation of disputed manufacturer lease escrow fund withdrawals/deposits


  1. Manages the preparation of monthly variable compensation calculations for Prime ASM and IASM based on methodology outlined by the compensation memo. Provides monthly breakdown of compensation payments to HR and sales team for payment and communication to eligible sales team members.


  1. Manages and reviews general ledger (GL) account and transit hierarchy for Automotive Finance & Indirect Lending (AF&IL) as well as the business rules for GL account and transit assignment to the business line and individual AF&IL products to ensure accurate transit-level and product line reporting. Works with Canadian Banking Finance and EO Finance to open new GL accounts, subaccounts, or transits or to make changes to the mapping of existing GL accounts, subaccounts, or transits to the business line or individual products, if required.


  1. Manages the implementation and maintenance of financial/accounting operations processes at AF&IL Head Office to ensure accurate financial reporting including but not limited to accrual processes for monthly revenue (commercial floorplan interest revenue, commercial bulk payments) and expenses (lien registration fees, portal fees, credit report fees, printing and mailing of customer letters) based on materiality thresholds defined by Canadian Banking Finance. Works with the Manager, Finance to ensure the financial impact of these financial processes are accurately captured in periodic forecasting/planning activities for AF&IL


  1. Manages the preparation of amortization schedules for rate subvention and volumes bonus payments and reconciliation of amounts in the amortization database to GL balances with monthly amortization and GL reconciliation reports provided to Canadian Banking Finance. Works with the Manager, Finance to ensure the financial impact of these amortization schedules are accurately captured in periodic forecasting/planning activities for AF&IL.


  1. Manages the preparation of amortization schedule and GL reconciliation report for lease service fees, obtains concurrence from Canadian Banking Finance on amortization calculations, and liaises with Dealer Lease Administration Centre to process payments to the vendor and ensure the GL accounts for lease service fees are reconciled. Works with the Manager, Finance to ensure the financial impact of these amortization schedules are accurately captured in periodic forecasting/planning activities for AF&IL.


  1. Provides ongoing responsive, professional management accounting advice, recommendations and support to the Senior Manager, Accounting and Financial Operations, Directors, Vice-Presidents, and Senior Vice-President, Automotive Finance & Indirect Lending. This includes the preparation, presentation, and review of financial information in addressing AF&IL's financial results for delivery to other departments, and providing resolution of queries, problems or issues of concern of an accounting nature within AF&IL.


  1. Contributes to successful team performance in accordance with the Department's Team Credo. This encompasses support to other team members, individual contribution to the team and shared responsibility for team attainment of objectives.


Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
  • University degree in business, accounting, or finance is required
  • A thorough understanding of financial and management accounting principles, ideally possessing an accounting designation/MBA
  • Database related (MS Access, SQL scripts) work experience is preferred
  • Strong knowledge of the banking industry with demonstrated analytical skills
  • Solid knowledge of Automotive Finance products, with specific knowledge of internal Bank systems (ALS COM, Retail Loan Platform, Flooring & Leasing, On-line Loans) is desirable
  • Working understanding of the Bank's budgeting and financial reporting processes and standard accounting policies and procedures
  • Working knowledge of and hands-on experience in the database management (MS Access, design and development, SQL statements, complex VB scripts) is preferred.
  • Thorough working knowledge of business related computer software including MS Word, MS Excel, MS PowerPoint
  • Excellent written and verbal communication skills
  • Very strong conceptual, analytical, problem-solving and organisational skills
  • Well-developed consensus-building skills and the ability to work effectively with staff at all levels of the organisation and gain their respect and support.
  • Dedicated to the highest standards of customer service.
  • Highly organized to handle a large number of concurrent high priority activities and requests


Location(s): Canada : Ontario : Toronto

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.

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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