Director, Expense Oversight and Transparency, Global Wealth Management Finance

Requisition ID: 219961

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

Leads expense management and transparency in Global Wealth Management (GWM) Finance ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures The Director, Expense Oversight and Transparency will lead the expense management function in GWM Finance to support the business s in achieving its strategic priorities, expense transparency, lead simplification of expense insights and lead operational excellence. This role will be responsible for managing the expense oversight function by performing insightful analysis on expense categories including staffing levels and providing timely information to executive management to support strategic decisions.

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

• Strategic Leadership and Vision:
  • Leads and drives a client focused culture on the team to deepen client relationships through leveraging broader Bank relationships, systems and knowledge to execute on GWM's strategy
  • Sustain strategic relationships and develop alliances with key stakeholder across Executive Offices (EO) groups and other stakeholders (business lines, executive management) to deliver on the mandate and provide value-added analysis and insights.
  • Build and reinforce effective partnerships 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 team as a strategic contributor helping advance GWM's financial outcomes

• Team Leadership and Management:
• • 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. 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.

• Expense Oversight, Quality and Governance
• • Owns the overall framework, processes, and expense transparency activities and insights for Global Wealth Management (Finance)
  • Leads the expense benchmarking, working with internal partners to track key financial metrics over the medium to long term driving insights on efficiency and effectiveness.
  • Drive strategies, ensuring alignment and efficiency across the business and lead initiatives to enhance and optimize GWM's expense base
  • Supports the VP, and SVP in Finance in aligning the strategic planning, related communication and change management activities with the business line stakeholders and GWM leadership
  • Drive active business engagement, building strong relationships with Business Partners, cross functional and internal teams to champion change and align GWM' expense portfolio. Works closely with partner groups to streamline and optimize cross group operating model.
  • Partner on optimization, oversight, governance, and controls, including annual planning to ensure GWM costs are planned and managed on a full end-to-end basis
  • Instills expense governance through implementing best practices, making audit recommendations, and communicating applicable financial policies and accounting guidelines to relevant parties.
  • Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.

• Planning and Analysis
• • Lead the expense analysis and reporting activities at the GWM 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.
  • Drive insightful and value-added analysis on the division's expenses. Deep understanding of drivers and approach and challenging the allocations from the support group to bring increased transparency.
  • Provide input to the strategic planning process by providing timely expense analysis and reporting.
  • Subject matter expert partnering across GWM business line 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 deep analysis on expense drivers and to support senior executives in decision making process
  • Responsible for preparation of monthly and quarterly expense related analysis and reporting for GWM leaders, as well as ad-hoc expense and staffing analysis.
  • Provide analytical support to productivity initiatives relating to Global Wealth Management
  • 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.

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.
• 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.

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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.