Senior Manager, Ib Insurance Financial Planning and Analysis

Requisition ID: 217493

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Senior Manager, International Business (IB) Insurance Financial Planning and Analysis supports financial reporting for the International Banking insurance operations. They will be responsible for comprehensive in-depth financial analysis and preparation of management commentary for annual profit plan, forecast, monthly and quarterly results. This position will be a financial & business-risk subject matter expert in insurance operations providing project support in development activities (including review of business cases), ongoing support to business units, and participation in M&A. They are required to work closely with local country finance and various stakeholders within insurance as well as IT/EO to ensure proper delivery & maintenance of information to monitor performance.

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

• Develop and implement processes to deliver financial analysis of insurance results, annual business plans, and forecasts for International Banking Insurance with a focus on Mexico, Caribbean and Uruguay.
• Prepare detailed reports of International Insurance footprint, by country, both P&L and Balance sheet.
• Provide identifying, tracking & analyzing various internal/external factors / trends, and providing management commentary to enable a focused understanding of performance.
• Identify opportunities for improving performance / profitability and brings forward recommendations for action.
• Work with the countries to capture their insurance financial results, understands them, and presents them for Senior Management review.
• Determine the root cause of major variances and help develop an action plan to address / mitigate the impact.
• Provide ongoing support, financial insights / advice / counsel for development activities (i.e., products, business lines, distribution channels, and reinsurance structures).
• Partake in activities that involve the review and financial assessment of business cases / initiatives from the line area.
• Be responsible for reviewing investment, policy accounting infrastructure, user requirements, accounting manual update, user acceptance testing, training, and internal controls.
• Track business case revenues and costs to support a post-implementation review.
• Ensure an effective financial / investment infrastructure is in place and optimizes the integration of insurance financial operations into the Bank's environment.
• Participate in insurance M&A activities, due diligence and integration.
• Be responsible for implementing accounting policies, purchase accounting and fair value determinations for internal financial reporting.
• Provide strong leadership to motivate both individual and team performance to achieve high professional standards.
• Help recruit, develop, retain and advance high quality talent and implements an effective succession plan as part of the International Insurance Finance team.
• Lead and drive a customer focused culture throughout the team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Create an environment in which his/her team pursues effective and efficient operations in accordance with Scotiabank's Values, its Code of Conduct and the International Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Demonstrate leadership for the overall International Insurance operations.
• Contribute in a positive manner to International Insurance's overall strategic growth.

Do you have the skills that will enable you to succeed? We'd love to work with you if you have experience with:

• Professional accounting designation is required, preferably a CPA.
• 10 - 15 years' progressive experience in the field of reporting for a financial institution, preferably within the life insurance industry.
• In depth knowledge of Peoplesoft, including EGL, OBI, Hyperion, Anaplan, and excel add-in SmartView. Power BI would be an asset.
• Specialized and in-depth knowledge of Canadian accounting principles and financial reporting - all as they relate to the insurance industry.
• Strong understanding of profitability drivers behind simple insurance products and services, product pricing, asset liability matching, investment, actuarial valuation, and capital requirements.
• Exceptional analytical skills to sift through complex policy material, understand their implications, and provide viable alternatives in accounting for the substance of a proposed transaction.
• Strong understanding of corporate governance and in-depth experience for maintaining a strong financial reporting internal control environment.
• Significant exposure to International Financial Reporting Standards, specifically IFRS17.
• Srong grasp of the financial services marketplace and a thorough understanding of the insurance / bancassurance industry.
• Solid understanding of applicable regulatory frameworks, the insurance industry (Creditor, Life/Health, Home/Auto, Annuity, Assistance/Fee-based, and Reinsurance), operational platforms and business processes.
• Demonstrated experience in managing people and processes with strong interpersonal skills and the ability to work effectively and diplomatically with those outside of International Insurance Finance.
• Excellent written and communication skills.

What's in it for you?

• In-depth training to prepare you for the role, as well as ongoing coaching and feedback to help you succeed!
• You'll be part of a diverse, collaborative, innovative, and high-performing team
• We offer a competitive rewards package:
• Performance bonus, Employee Share Ownership Program, and Pension Plan Matching
• Health Benefits from day one!
• You will relish work-life balance, team events, and opportunities to participate in the community.
• Your career matters! You will have access to career development and progression opportunities.

Location(s): Canada : Ontario : Toronto

Scotiabank 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 click here. 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.