Vice President, Pension & Benefits

Requisition ID: 214274
Employee Referral Program - Potential Reward: $0.00

We are committed to investing in our employees and helping you continue your career at Scotiabank.

Position: Vice President, Global Pension & Benefits, Total Rewards, Global Human Resources

Purpose

Our Total Rewards reflect Scotiabank's commitment to employee wellbeing, rewarding and recognizing those who achieve outstanding results and accelerate business performance while living our values and behaviours.

This executive role provides strategic direction, leadership and oversight to the Global Pension & Benefits team in Total Rewards. The role is also responsible for developing and managing strategic benefits, wellbeing, retirement and wealth accumulation programs that support the organization's strategy and values while ensuring they comply with governing regulations, internal policies and procedures.

Accountabilities

• Leads by example and drives a focus on employee experience throughout their team.
• Leads the design, policy, actuarial and financial management, governance, communication and reporting of the Bank's global pension, benefit and wealth accumulation programs to ensure alignment with the Bank's total rewards philosophy, strategy and priorities.
• Provides thought leadership and planning expertise, including preparing proposals and business cases for Senior Executive and Board approval. Provides consultative services on matters related to retirement policy rationale and interpretation as well as oversight of Global Pension & Benefit considerations in business strategy including mergers, acquisitions and divestiture initiatives.
• Establishes and maintains effective and ongoing relationships with the various business leaders, internal stakeholder teams and total rewards colleagues to ensure programs and policies meet the needs of our business and our people, in alignment with the total rewards philosophy.
• Manages external suppliers and optimizes program spend.
• Formulates integrated strategies including plan design, communication and employee experience across Defined Benefit, Defined Contribution, benefits, employee wellbeing and wealth accumulation programs.
• Develops and implements global benefits strategies and standards, while also driving the evolution of a global community of practice focused on wellness and benefits. Oversees the design and management of high-visibility, broad-based programs, ensuring alignment with organizational objectives and obtaining approval from the Board of Directors for key initiatives, such as the Scotiabank Pension Plan, the Canadian Benefits Plan and the Employee Share Ownership Plan.
• Is accountable for global pension risk management strategies in collaboration with Group Treasury on Asset-Liability management.
• Accountable for Canadian benefits design, pricing, and underwriting. This includes contract renewal negotiations with insurance carriers representing LTD and life insurance coverage for active and retired employees. Contract negotiations include design of risk sharing arrangements and consideration of capital implications for the Bank.
• Accountable for collaborating with delivery partners to ensure that end-to-end program implementation is executed successfully and delivers on program objectives.
• Represents the Bank and its interest in relevant industry associations, committees or groups. This includes participation in the development of external papers for presentation to various levels of government.[VJ3]
• As a member of the Total Rewards leadership team, works with the SVP and other team leads on setting and reviewing the broader Total Rewards philosophy, guiding principles, strategy and operating plan.
• Directs day-to-day activities in a manner consistent with the Bank's risk culture and the relevant risk appetite statement and limits. Communicates the Bank's risk culture and risk appetite statement throughout their teams.
• Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank's Values, its Code of Conduct and the Global 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.
• Builds a high-performance team and culture that attracts, retains, develops and motivates team members by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.

Education & Experience

• University degree in math, finance, or comparable subject matter
• FCIA, FSA or other actuarial designation is considered an asset
• 10+ years of relevant leadership experience in directing the activities and resources associated with the financing, risk, design, implementation, governance, communication, and administration of multinational and multi-jurisdictional private sector employee pension & benefit programs, with a good understanding of investments
• Broad understanding of all elements of Total Rewards
• Exceptional strategic influencing skills to execute complex projects. Identifies key stakeholders required for success and actively engages them in key business planning decisions. Works well within the corporate culture and effectively manages the dynamics within the Bank.
• Strong cross-cultural leadership skills required to effectively interact with business partners globally. Shows flexibility and openness to differing ideas and perspectives, adapts to cultural differences, and effectively interacts with others of different backgrounds and styles.
• Excellent written, verbal communication and presentation skills in order to clearly summarize and effectively share complex information with various audiences.
• Experience leading and implementing change in a complex corporate environment and guiding a team through change.

Working Conditions

• Work in a standard office-based environment; non-standard hours are a common occurrence.
• Limited travel required.

Location(s): Toronto-Ontario

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.

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