Vice President, Canadian Consolidated Business Banking Finance

Job title:

Vice President, Canadian Consolidated Business Banking Finance

Company

Scotiabank

Job description

Requisition ID: 202356We are committed to investing in our employees and helping you continue your career at Scotiabank.PurposeThe Vice President, Canadian Consolidated Business Banking Finance (The VP) provides support to the Canadian Business banking and small business leadership team to improve financial intelligence and to provide analytical insights and recommendations that will translate into optimizing the financial and capital efficiency in support of its overall performance.The VP oversees and provides strategic direction for the Financial Reporting and Analysis team supporting Canadian Business Banking and Small Business and Roynat Capital.The VP will have overall responsibility for the strategic direction, conceptual development and implementation of the customer profitability models to support organic growth through the measurement of customer relationships / profit and lifetime value generation; as well as the analysis of product and channel contributions to maximize financial performance for Canadian business banking and small business. Also oversees product pricing through establishment of policy setting and frameworks. Oversees strategic expense review.

• Ensures the integrity of financial reporting through leading the teams, managing the implementation of adequate controls, performance measurement and monitoring including annual profit planning and budgeting monthly and quarterly reporting and forecasting.

• Contributes to the achievement of the division’s goals and objectives by providing analysis and recommendations with respect to strategic initiatives, ensuring the achievement of optimum profitability throughout the division by supporting the management of capital and tax.

• Development of other management information based on divisional requirements (e.g., product and customer profitability) and Corporate Finance requirements.

• Ensures a robust Human Resource infrastructure is in place to support the strategies of the organization.

Accountabilities

• Strategic Partner to Business Banking – Oversees and provides strategic direction to the team providing analysis, support, and counsel to Canadian business banking and small business related to financial management of the division. Ensures the team is leveraging their strong understanding of product portfolio and business model to provide value-add advice and recommendations. Conduct financial reviews / investigations of strategic business initiatives including new acquisitions / products / markets with a view to profitability and accounting issues.

• Financial Reporting and Control Oversight – Oversees the team responsible for financial reporting for Canadian business banking and small business ensuring they are certifying the accuracy and integrity of the results, regulatory and statutory reporting, identifying issues and that they are providing explanations of the monthly and quarterly P&L to Executives.

• Performance Measurement – Responsible for defining, developing, and maintaining financial measurement processes and a comprehensive business model to provide a fair and consistent assessment of financial performance.

• Financial Analysis – Provide financial analysis and support to Canadian business banking and small business by providing recommendations on key business drivers including product/service costing and profitability, pricing, process improvement, customer profitability (etc.)

• Financial Information Management – Provides leadership on Canadian business banking and small business` financial information requirements and partners with the other business lines finance teams to develop operational and technology solutions that will shift the team from a reporting centre to a valued strategic business partner.

• Accounting Control and Compliance – Ensure compliance with Scotiabank policies and guidelines and regulatory requirements by maintaining an awareness of policies and statutory requirements, following accounting changes in all jurisdictions, providing advice and counsel on accounting issues and monitoring compliance with critical requirements.

• Direct the conceptual design, development, and implementation of an integrated management information system across Customer/Product/Channel profitability tied to the financial statements for Scotiabank.

• Establish, develop, and maintain the governance framework, working closely with the Scotiabank`s Analytics Centre of Excellence and the Scotiabank`s Chief Data Officer’s office, around customer profitability information, data policies, procedures and standards to ensure the integrity and consistency of the business rules embedded in MIS in accordance to Scotiabank standards.

• Conduct cost benefit analysis of business opportunities to maximize financial return and competitive analysis that will improve the Canadian business banking and small business financial performance (e.g., NIM/balance sheet, business mix etc.)

• Perform deep-dive financial analyses of market / competitor / industry / product level opportunities, which includes supporting and reviewing M&A activities and special projects, along with enhancing the financial intelligence capabilities of Canadian business banking and small business.

• Provides reporting on financial performance, including Monthly Reporting & Product Profitability allocations for Canadian business banking and small business.

• Develop the customer profitability measurement strategy that supports the Scotiabank`s overall focus on customers in line with strategic and business goals, driving sustainable long-term profitability and providing necessary actionable insights to the Canadian business banking and small business.

• Develop and recommend pricing models/offers based on product roadmap and strategic priorities which deliver on short, medium, and long-term revenue growth plans for the Canadian Business Banking and Small Business.

• Communicates and incorporates the relevant risk appetite statement and risk appetite measures, in alignment with the Bank’s risk culture.

Education / Experience

• MBA and/or Accounting Designation.

• Extensive financial analysis and reporting experience.

• Strong general management and leadership experience.

• Extensive experience interacting with Senior executives and managing relationships with key contacts inside and outside the bank.

• Thorough knowledge of related Bank policies, practices, and products in the context of best practice and regulatory requirements and expectations.

• Advance presentation skills and ability to provide insightful and influential viewpoints to Executive and Senior Management.

• Strong ability to balance competing or conflicting goals of various departments/stakeholders. Requiring a mature, diplomatic approach and highly developed negotiating and influencing skills.

• Strong leadership and team building skills. Experience in directing managing, coaching, and mentoring skilled staff to motivate and bring about efficiency and creativity.

Location(s): Canada : Ontario : TorontoScotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please . 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.Note: All postings in me@Scotiabank will remain live for a minimum of 5 days.

Expected salary

Location

Toronto, ON

Job date

Thu, 04 Jul 2024 06:37:01 GMT

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