Director Expense Management

Requisition ID: 192742
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Leads Expense Management in Canada Banking (CB) Finance ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures

The Director, Expense Management, will oversee the Expense Management function in CB Finance to assist CB in achieving its strategic priority - focus on operational improvements. This role will be responsible for managing the expenses by performing insightful analysis on each expense categories including staffing levels and providing timely information to executive management to help them make strategic decisions.

The role will also be responsible for planning, forecasting and reporting. The greater focus of this role will be on the insightful and value-added analysis on the division's expenses and understanding and challenging the allocations from the support group to bring increased transparency. In addition, this role will be working very closely with the business line executives and various other stakeholders in CB in helping them manage their expenses. The Director will also challenge/enforce compliance with Bank-wide staff expense policies that govern the individual expense categories.

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

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Expense Oversight:
  • Lead the expense analysis and reporting activities at the CB level. Activities include: analysis, planning, forecasting, testing for reasonability, and reporting of plan vs actual on a monthly, quarterly and annual basis; determining ratios (including productivity and operating leverage ratios); and defining the allocation methodology.
  • Provide input to the strategic planning process by providing timely expense analysis and reporting.
  • Subject matter expert partnering across CB business line and finance teams to help make informed decisions pertaining to budget planning, forecasting and potential cost reduction activities, as well as the ongoing management of their business' operations which have a budget impact.
  • Provides in-depth analysis of direct expenses as well as major support and allocated expenses to identify opportunities for cost savings and operational improvement.
  • Performing robust analysis on staffing levels to help assist senior executives in managing the vacancies, out of plan hiring and expenses.
  • Provides benchmarking of expense relates key performance indicators to identify opportunities for cost savings and more effective deployment of our resources.
  • Responsible for preparation of monthly and quarterly expense related analysis and reporting for CB senior executives, as well as ad-hoc expense and staffing analysis.
  • Provide analytical support to productivity initiatives relating to Canadian Banking
  • Identify appropriate changes to Bank-wide staff expense policy to ensure policies are appropriate. Ensures that staff are compliant with internal rules and regulatory obligations.
• Relationship Management / Leadership:
  • Sustain strategic relationships and develop alliances with key contacts across Executive Offices (EO) groups and other stakeholders (business lines, executive management) to deliver on mandate and provide value-added analysis and insights.
  • Build and reinforce effective working relationships and collaboration within the Finance Community and across the Bank.
  • Be apprised of market and industry trends, maintaining a strong knowledge base of external best practices relating to Expense Management/allocation procedures, reporting, forecasting and analysis to position the department as a strategic contributor helping advance the division's financial position.
• Provides strong leadership to motivate individual and team performance and contribute to the effective functioning of the team by:
  • Communicating the Bank and department's strategic direction to the team;
  • Negotiating and effectively communicating individual and team goals and objectives.
  • Developing and executing meaningful employee development plans; motivating and contributing to the development of individual/team performance in current job and for future opportunities.
  • Recognizing individual/team development needs and taking an active role in addressing gaps; exhibiting self-awareness around one's own impact on the team and when necessary, adjusting leadership and motivational qualities to maximize subordinate/team performance.
  • Facilitating a culture of open and honest communication; encouraging the generation of new ideas and approaches.
  • Actively sharing knowledge and experience to enhance the development of all team members.
• Understands how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

• University Degree in Business or similar discipline
• MBA, CA, CPA, CMA, or equivalent an asset.
• 7-10 years of relevant experience
• A results-oriented individual who is able to lead change, with high self-awareness and strong interpersonal, communication (verbal and written), and problem-solving skills
• Demonstrated leadership skills and ability to coach a team of financial professionals.
• Excellent written and verbal communications skills sufficient to influence and deal with executive and senior management effectively and
• Strong analytical skills with the perspective of seeking opportunity for improvement
• Ability to sustain a broad-based knowledge of the Bank's and Canadian Banking's strategy, operations, policies and procedures.
• Ability to multi-task effectively
• Experience in managing analytical and operational processes and stakeholder relationships
• Ability to convey critical financial information to both finance and non-finance Executives
• Ability to understand and support the needs of Canadian Banking areas while balancing the need of Finance to support cost containment/reduction
• Previous experience in cost/category management would be an asset
• Strong knowledge of the banking industry and Canadian Banking

What's in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

#scotiafinancejobs

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.