Scotiabank

Senior Manager, Canadian Wealth Management Finance

Scotiabank • $110K — $130K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
5 - 7 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Accounting designation (CMA, CGA or CA) or MBA with 5+ years of relevant experience.
  • Strong analytical skills to provide insights to Senior Management.
  • Knowledge of wealth and banking products is advantageous.
  • Familiarity with BNS planning and reporting processes required.
  • Deep understanding of product profitability principles using FTP methodology.
  • Excellent interpersonal, communication, and problem-solving skills.
  • Proficient in advanced technical skills such as Excel, Access, Word, PowerPoint.

Responsibilities

  • Direct and oversee the annual Profit Plan and quarterly forecast processes for Private Banking.
  • Ensure timely preparation and analysis of revenue and expense forecasts.
  • Manage monthly, quarterly, and annual financial management reporting with accuracy.
  • Provide product/customer profitability analytics to support strategic decisions.
  • Facilitate continuous improvement in reporting and planning systems to reduce spreadsheet dependency.
  • Advise on product pricing and profitability within the bank's environment.
  • Lead and develop direct reports while ensuring clear communication of goals.

Benefits

  • Join a forward-thinking and collaborative team of innovative thinkers.
  • Access to diverse opportunities for professional development.
  • Internal programs designed to facilitate growth and skill enhancement.
  • Commitment to making a positive impact in communities.
  • An inclusive environment that promotes creativity and celebrates success!
Full Job Description
Requisition ID: 273329

Please Note - Over-time required at peak periods, such as quarter-ends and annual planning season.

Purpose

The Senior Manager, Wealth Management Finance manages the financial analysis and reporting functions for Private Banking Business Line of Canadian Wealth Management segment of Global Wealth Management. Specifically, the incumbent is accountable for the integrity and comprehensive timely analysis of the monthly/quarterly results, quarterly forecasts, and annual profit plan for submission to Wealth Management & Finance. The incumbent is also responsible for the working together with the business on various complex incentive compensation plans related to Private Banking.

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

Direct and manage annual Profit Plan and quarterly forecast processes for Private Banking Business line:
  • Ensure timely submission of Annual Profit Plan including analysis of all major revenue and expense categories, variance and scenario analysis.
  • Maintain/enhance the planning tools distributed to the Businesses for capturing detailed submissions and the analysis of all major revenue and expense categories.
  • Recommend and develop financial models and set target levels and/or strategic benchmarks to Wealth Management business heads and management.
  • Prepare monthly, quarterly, whole year revenue and expense forecasts for submission to Wealth Management and Finance.
  • Prepare the annual 3 (5) Year Strategic Plan and the related stress testing scenarios.


Direct and manage the monthly, quarterly, and annual financial management reporting, maintaining effective control in place and ensuring timely and accurate information being reported to Finance & GWM Management:
  • Coordinate the preparation of the monthly business line operating results, business line metrics & performance reports.
  • Coordinate the monthly preparation & submission of expense & revenue accruals where necessary.
  • Complete financial results, key measures, and commentary.
  • Coordinate the completion of Investor Economics surveys along with other market surveys as required.
  • Complete Quarterly Management Report (QMR) along with various Revenue & Expense reporting, variance analysis, and commentary for submission to Finance & GWM Senior Management.
  • Act as an advisor to the business heads of GWM/CWM as well as provide support and act as a liaison with Finance as required.
  • Work with the CWM business heads to provide/create product/customer profitability analytics in support of strategic business decisions. This requires the design and development of financial models to be used in the assessment of changes in business strategies and new initiatives.
  • Define the required changes and/or implement continuous improvement with regards to various systems and databases used to facilitate the required reporting. These include the PeopleSoft, EGL, MS Access Databases; and numerous Excel spreadsheets. Also, the incumbent is responsible for improving the reporting/planning processes by identifying opportunities for systems enhancements, specifically through the reduction on the dependence of complex spreadsheets.
  • Advise and support Private Banking and Finance leadership on product pricing and profitability
  • Work with partners across bank functions on other topics related to Private banking business (HR, Finance, Legal, Risk etc) - PB Loan loss provisions, Risk Weighted assets, Funding Gap, Product profitability.


Together with Private Banking, participate in the calculation and administration of complex variable compensation plans for the business:
  • Work with PB Management to ensure timeliness of completion and accuracy of data
  • Ensure the compensation calculations are accurate & reasonable
  • Coordinate with HR payments of the compensation amounts
  • Provide back testing results to the cross-functional team for major changes to the plans


Provide strong leadership by:
  • Ensuring expectations including accountabilities, objectives and goals are effectively negotiated, communicated and monitored for direct report(s)
  • Ensuring employee development plans are in place and completing performance reviews for all direct report(s)
  • Ensuring there is fair and equitable treatment of employees in keeping with the bank's guidelines and principles
  • Ensuring that performance/conduct issues are effectively dealt with through proper and prompt documentation/discussion, escalating when appropriate
  • Creating and encouraging open lines of communication for all staff and that they are aware of the Chain of Communication
  • Designing, establishing and maintaining an organizational structure and staffing strategy to effectively accomplish the department's goals and objectives.

Perform other duties as assigned.

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:
  • Accounting designation (CMA, CGA or CA) or MBA and/or 5 years related work experience is required.
  • Ability to provide strong analysis and recommendations to Senior Management relating to the business lines' performance.
  • Knowledge of wealth and banking products would be an asset.
  • In-depth knowledge of BNS planning & reporting processes.
  • In-depth knowledge of product profitability principles based on FTP methodology.
  • Ability to grasp new concepts quickly.
  • Excellent analytical skills.
  • Ability to analyze and interpret financial and operational information.
  • Ability to sustain a deep knowledge of the business lines strategy, operations, policies and procedures.
  • Good interpersonal skills are important as the incumbent must be able to work with various levels of Bank staff and excellent verbal and written communication skills are required.
  • Ability to work independently, and as a key partner with business heads.
  • Be a self-starter, well organized with strong problem-solving skills and the ability to multi-task and meet tight deadlines.
  • Advanced technical skills (Excel, Access, Word, PowerPoint, etc.).


What's in it for you?
  • The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
  • A rewarding career path with diverse opportunities for professional development.
  • Internal development to support your growth and enhance your skills.
  • An organization committed to making a difference in our communities - for you and our customers.
  • We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!


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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