The Senior Manager is responsible for leading all aspects of budgeting, forecasting and reporting processes within GRM AML, encompassing operational and project budgets.
The incumbent works closely with GRM Senior Management and E.O Finance, HR and other business partners, and continuously looks for opportunities for process improvements, reporting and analysis efficiencies, and cost control and containment strategies.
The incumbent is required to demonstrate strong leadership skills to drive adoption of new financial planning (budgeting and forecasting) processes and procedures within GRM areas.
1. Annual Budget Process for Operating and Project Budgets
- Responsible for ensuring the integrity of AML’s financialreporting through the design and implementation of processes to manage annual budgets, profit-planning, reporting, and day-to-day support of AML transit owners.
- Act as key source of information and strategic advisor to AML transit owners and management in:
- managing budgets;
- determining appropriate salary and complement levels in line with approved budgets;
- challenging budgeting decisions and planned expenditures for appropriateness;
- making decisions regarding Business Line allocations and transfer pricing;
- obtaining approvals from various leadership levels (e.g. senior GRM leadership, HR, SCT).
- Lead the annual budgeting process for AML, establishing timelines and guidelines, ensuring all stakeholders adhere to requirements, and maintaining tension on deadlines.
- Analyze expenditures to identify opportunities for cost savings.
- Prepare presentations to executive on AML expenditures for the upcoming fiscal year.
- Prepare the final budget submission, including analysis for growth and budget changes, for senior executives and, ultimately, the Board.
- Create guidance documentation to ensure transit owners are able to adhere to budgeting and headcount requirements.
2. Project Management
- Provide oversight of the AML Project Business Cases, and work closely with delivery managers of various project work streams. Manage AML project budget and verify that all approved and carry-forward projects are on track within authorized limits, and timelines, while analyzing forecasts regularly. Manage cash flow and BCP expense costs by monitoring expenditures for all cost categories.
- Review business case proposals seeking funding from GRM’s budget, challenging business sponsors (VP and higher) and project managers on key cost and requirement drivers.
- Negotiate project requirements such as scope, schedule, costs, resources, IT impact, integration requirements, and change management considerations.
- Collaborate with Business Unit and Operations leaders to fully understand key business drivers and cost drivers, and to achieve required support levels.
- Consistently drive cost reductions in the total project cost, both technology and services.
- Establish project milestones for funding releases and hold project managers to those commitments, ensuring objectives adhere to approved timeframes and are in compliance with the all Bank strategy, before additional funding is released.
3. Financial Analysis and Reporting
- On an ongoing basis, work with transit owners (VP level) and project delivery managers to prepare monthly and quarterlyreports on AMLbudget and allocation amounts for submission to GRM Executive, including the Bank’s ChiefRiskOfficer.
- analyzing AML monthly expenditures, requesting information from transit owners, project delivery managers, and other business units to explain and, in some cases, justify expenditures and allocations;
- providing rationale for increases;
- explaining allocations to Business Line leaders;
- working with VPs and SVPs to forecast expected adherence to annual plan.
- Provide reports to E.O Comptrollers, Finance Operations, transit owners (VPs, SVPs), GRM Budget Impact Committee, the CRO, and Business Line Finance teams.
4. Complement Management, Reporting, and Controlled Hiring Programs
- Manage all requests for net-new FTE, complement replacements, contracts, and promotion requests; reviews against budget and coordinates HR and SCT approvals as part of the Bank’s Controlled Hiring Program. AML SME for all complement and staffing requirements.
- Manage AML complementreporting and tracking of authorized complement, and approved out-of-budget complement,contracts, and overrun staff (excludes in-Country).
- Manage quarterly headcount review and forecasting exercise to provide quarterly spot headcount for Executive reporting and identify anticipated headcount changes in the upcoming quarter; provide EO Finance with post-quarter-end forecasts on staffing.
- Develop and manage the process to report on in-country (IB) AML complement and budgets.
- Manage monthly complement reporting to EO Finance to report approved out-of-budget resources, SCT reductions, transfers within AML, and transfers between AML and other lines of business. Provides variance analysis for quarter over quarter changes.
5. Annual GRM Board Report for GRM Budget, Organization Structure and Resources
- Coordinates the completion of the annual Board Report. Works with GRM/AML executive, EO Finance, HR teams and staff in International location to gather, validate, and present in the final report.
6. Strategic Review of Financial Structure and Reporting
- On an ongoing basis, conduct analysis to achieve process improvements and efficiencies, such as:
- review AML’s organizational structure with a view to optimize and simplifyfinancial planning andreporting processes;
- streamline financialreporting to simplify variance analysis (e.g. centrally manage, plan, and charge items such as rent, utilities, stationery, travel, etc.);
- identify areas of focus for cost avoidance and savings opportunities.
7. Administrative Management
- Manage administrative requirements for maintenance of AML transits (opening, renaming, closing, repurposing);
- Advise AML planners on accounting practices regarding booking expenses in the General Ledger;
- Using financial systems (PeopleSoft, Oracle Business Intelligence, OPEX, and SmartStream), track and investigate expenditures, including variances from forecast;
- Manage out-of-budget approved expenditures;
- Support the creation of an environment where change is embraced as a positive, energizing constant.
- Through leadership, coaching, and mentorship, contributes to the development and sustainment of a team that is engaged and interested in its work, develops creative solutions, shows enthusiasm when undertaking new challenges, and supports development and overall success of colleagues.
- Actively contribute to strategic priorities and initiatives by challenging the status quo, identifying improvement opportunities, and meeting established project timelines.
- Provide effective change leadership through communications and advancement of process changes, including working with cross-functional teams of internal resources to achieve established objectives.
- Build effective working relationships with transit owners from AML and the rest of GRM, the Business Lines, and E.O. Finance, Structural Cost Transformation, Human Resources, IT&S, and internal and external project managers.
The incumbent is required to consolidate and present complex information/analysis in a concise and meaningful way that meets the need of the intended audience. The incumbent is also required to gain adoption for the department’s vision while resolving any conflicts and/or issues that may arise.
The incumbent is required to demonstrate:
- Strong proficiency in financial analysis with proven analytical skills (attention to detail is critical)
- Strong Excel skills (including pivot-tables, lookups, advanced formulas), PeopleSoft, OBI Hyperion, and knowledge of MS Word.
- Excellent inter-personal skills with ability to work effectively with colleagues and internal/external customers.
- Solid organizational skills with ability to provide high quality output during constrained timelines.
- Excellent verbal and written skills, as this position will have interaction with management up to SVP level.
Education / Experience
Professional accounting designation or advanced level of understanding demonstrated through at least 3 years of previous experience in leading teams responsible for budgeting, forecasting and reporting
MBA or University Degree in Accounting and/or Business Administration is an asset
Requisition ID: 22413