Manager, Regulatory Reporting

 
 
Requisition ID: #
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Hiring Details:
-Reports to: Sr. Manager, Regulatory Reporting
-Business Line: EO Finance 
 
Job Purpose:
The Regulatory Reporting team manages and oversees financial Regulatory Reporting for the Bank and assigned subsidiaries.  This includes: governance of the process, including monitoring all Bank compliance with filing requirements; change and project management for new or enhanced returns; relationship management with regulators (e.g. Office of the Superintendent of Financial Institutions, Bank of Canada, the Autorité des marchés financiers , Statistics Canada, Provincial Regulators, Securities and Exchange Commission,  the Depository Trust and Clearing Corporation, US Federal Reserve, and Canada Deposit Insurance Corporation), completion of returns on time (monthly, fiscal quarterly, calendar quarterly, semi-annually, annually, and ad-hoc filings to regulators) , performance of variance analysis, response of regulatory inquiries, internal information providers, participation in Canadian bankers Association meetings and etc.   
The Manager is responsible for preparing and/or reviewing of assigned returns before they are filed with regulators to ensure that returns are materially accurate and complete; acting as back up for all assigned returns; implementing new reporting requirements as and when they become effective; liaising with regulators (usually via Canadian Bankers Association) as and when required;  liaising with other groups within the Bank to either file returns or provide data for returns; acting as a backup for Senior Manager when required; assisting in improving data quality of all regulatory returns; reviewing variance analysis ; monitoring adherence to filing deadlines for all returns including those filed by other groups; providing guidance to level 6 senior analysts where appropriate, and capturing and reporting on KPIs; keeping abreast of regulatory changes as well as changes to Bank’s systems and procedures that affect assigned returns; participating in projects to implement changes and improvements.
Is this role right for you? In this role, you will:
Regulatory Reporting:
-Review assigned returns at the Bank level as well as the assigned subsidiaries’ financial regulatory returns.  Provide effective governance including accurate and timely filing of all financial reports with the Regulators (e.g., OSFI, Bank of Canada, Statistics Canada, CDIC, AMF, FED, SEC, DTCC), and keeping abreast of regulatory changes. Proactively follow up with preparers to resolve any problems and provide guidance where appropriate. The incumbent also plays an important role in reviewing variance analysis and follow up with the preparers to ensure all variances that are over the thresholds are properly explained and documented.
-Interpret and implement new reporting requirements and manage the implementation of system and procedural changes to ensure compliance with new regulatory requirements.
-Work with internal control testing team/internal audit to coordinate and complete the testing requirements by participating in the walkthrough meetings, follow-up meetings and provide requested artifacts where applicable.
-In addition, there will be cross-training on other returns as assigned, to ensure appropriate vacation / absence coverage within the team.
 
Automation:
-Working with the Project Team, review the automation of returns in the production environment.  This includes gaining and transferring knowledge on system functionality, processing adjustments, mapping update and reporting tools using the new system.  Update the desktop procedures, attestation process and other related controls as a result of automation.  
 
Accounting and Other Initiatives:
-Participate, as required, in accounting and other initiatives impacting financial regulatory filings, including new or enhanced systems, changes in accounting standards, new products or acquisitions and disposals. Perform regulatory tree review/update and review CRFs to assess impact on Regulatory Reporting, as assigned.
 
SOX Compliance/Process Improvements:
-As a SOX process owner for stated responsibilities, ensure strong process controls are implemented and documentation is prepared and updated regularly for Financial and Regulatory processes.  On an ongoing basis, ensure processes are reviewed regularly and enhanced where required. 
Change Management:
-Embrace and drive change as required. Identify opportunities to improve efficiency and propose changes to Senior Manager /Director.
 
Other projects and initiatives as required:
-Manage ad- hoc projects as assigned by Senior Manager/Director or other areas in the group.
 
Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
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-Accounting designation-post secondary education with specialization in Accounting or Finance/ Business degree (required qualification)
-Strong knowledge of IFRS and financial regulatory requirements with strong understanding of financial and management accounting principles
-Prior experience working in a banking Regulatory Reporting environment will be an asset
-Strong analytical, conceptual, problem solving and organizational skills
-Ability to manage conflicting requirements, manage priorities, time and resources appropriately. A multitasking individual is required to be able to cope with a diverse range of issues
-Good team building skills, working with diverse groups to resolve issues and identify efficiencies
-Solid communication skills (written & oral) and interpersonal skills with a strong ability to establish relationships with internal stakeholders, as well as senior management
-Ability to develop and leverage strong relationships with key business partners such as GRM, GFT, and Compliance etc.
-Ability to work in a project environment as required and ensuring requirements are met
-Strong PC skills with emphasis on Excel, PowerPoint and Word
-Sound knowledge of the Bank’s reporting systems such as OBI/EGL, CDM, Axiom, Power BI and Regulatory Reporting system RRS
-Good understanding of risks and controls in the production environment (around systems, manual inputs, and working files), ensuring implementation of changes, on-going maintenance and strengthening of the control environment
-Strong time management and organizational skills to ensure tasks are managed and deadlines are met on a consistent basis
-Ability to assist Director and Senior Manager to effectively manage the team by coaching senior analysts where needed, being proactive on tasks and motivating the team.
-Preferred attributes include attention to details, independent, flexible, curious, proactive, and a self-starter
-Ability to deal with all levels of staff and external contacts diplomatically
-Knowledge of SQL will be an advantage
 
What’s in it for you?
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-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 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.