The Information Technology & Solutions (IT&S) Finance department provides cost-effective stewardship of the Bank's IT and financial resources used to support creation of shareholder value. IT&S Finance has a dual reporting relationship to both Corporate Finance and IT&S.
Objectives of the department include:
The Senior Manager will be a member of the Technology Business Management (TBM) team within IT&S Finance and will report to the Director, TBM.
The incumbent will be responsible for the production and analysis of financial information related to the allocation of IT&S’ costs to the Business Lines. Analysis must be concise and relevant for the user and provide information for decision making and management actions.
The incumbent is also responsible for the development of Business Line forecasts and budgets based on sound Activity Based Costing / financial accounting principles and ongoing improvement of the allocation methodologies used.
The incumbent’s primary duty is to manage the Business Line allocation and service reporting of IT&S costs, including actuals, forecast and budget and related variance analysis for use by Executive Management for informative and decision making purposes. Responsibilities include managing all aspects of the maintenance of an allocation model, inclusive of accurate and detailed financialreporting as the basis for IT&S Area's planning, tracking and management of IT&S costs. In addition, the incumbent will:
• Optimize team processes through regular reviews and ensure the team thoroughly understands why they perform the processes and how their processes interact
• Perform regular reviews of allocation methodologies
• Manage the annual review of drivers with IT&S and the business lines
• Continuous improvement of information provided to the business lines and IT&S
• Manage the TSA process for IT&S expenses charged to other countries
• Perform analysis and manage large volumes of data
• Develop insightful, actionable costing information and recommendations to improve efficiencies and identify cost savings opportunities
• Establish and operationalize effective controls to ensure the completeness and accuracy of resultant information, ensuring that results adhere to accounting principles; are accurately reflected in the general ledger, plan and forecast; and that cost drivers are correctly applied
• Implement sound management accounting principles (e.g. cost allocation processes and reporting, costing methodologies, implement changes to the model, allocation process and related systems, maintaining an in-depth understanding of the units, cost drivers and of the Bank’s business lines)
• Liaise with IT&S Area management, develop and maintain an in-depth understanding of the Bank’s Business Lines, IT&S Areas and related cost drivers. Ensure knowledge transfer to department employees as it supports their activities. Understand how IT&S costs map to strategy and services.
• Familiarize and educate internal clients (i.e., business lines and IT&S) with the costing methodology and information availability
• Manage team of 4 people (2 Managers and 2 Senior Analysts)
• Provide strong team leadership to motivate and develop their employees, and foster a client-focused and collaborative team and manages and organizes department resources to meet the day-to-day activities of the unit
• Advanced Excel skills (including pivot-tables, lookups, advanced formula)
• Proficiency in financial analysis with proven analytical skills (attention to detail is critical)
• Experience managing large volumes of data
• Very good 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
• Strong verbal and written skills, as this position will have interaction with management up to VP level
• Familiarity with Excel Power Pivot and development of dashboards is a plus
• CPA and/or MBA with minimum 8years related experience within a large organization is required
• Extensive experience and knowledge of financial and management reporting, business planning and financial systems/models
Requisition ID: 21255