Requisition ID: 225830
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Consolidation team manages and oversees many critical processes in the preparation of the Bank's Consolidated Financial Statements. This includes providing all the accounting services required for the completion of the Bank's Consolidation process, information and analyses to Senior Finance management and to other areas of the Bank.

The Analysis is responsible for the analyses of data provided by the Reporting Units, ensuring the data complies with IFRS and, processing necessary consolidation adjustments where required. This will include elimination of intercompany balances and the maintenance of the Consolidation general ledger. The candidate is involved in the preparation and data input of journal entries, account analyses, preparation of various income statement/balance sheet schedules and notes to the financial statements. The candidate will also participate in various ad hoc projects related to on-boarding of new IFRS and Automations related to the department's day to day operations. The analyst will Report directly to the Assistant Manager Consolidations.

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

• Analyze the data received from foreign subsidiaries to ensure it compliance with IFRS. This involves monitoring, identifying and adjusting the data received. The incumbent will also communicate with the Scotiabank subsidiaries worldwide as well as follow up on adjustments required on a timely basis. - Communication
• Maintenance and validation of the subsidiaries Carrying Value Reports and its supporting analyses. This will include researching items to determine inclusion/exclusion in the calculations, as well as responding to queries from various departments.
• Prepare Reports, analyze and reconcile various Consolidation processes in particular Dividend Elimination, Accumulated Other Comprehensive Income (AOCI), together with correspondence on variances and other enquiries.
• Preparation and data input of monthly journal entries in the EGL (Enterprise General Ledger) systems
• Support role to the Assistant Manager to produce the Foreign Exchange Structural Position (FXSP) report. The amounts represent the Bank's net exposure to foreign exchange risk because of investment in foreign subsidiaries and non-remitting branches. This exercise also involves projecting the Cumulative Translation Adjustment impact of the forex exposure. The incumbent is expected to assist in preparing the relevant note to the Quarterly Financial Statements. A basic understanding of FX; CTA is nice to have
• Other duties as assigned. These include ad hoc requests from various departments for information and analyses

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

• A very good understanding of accounting concepts and principles, including consolidation and forex. The incumbent should possess a university degree in accounting and/ or be working towards their accounting designation.
• Excellent analytical, problem solving, communications and organizational skills.
• A self-starter, team player with ability to handle varied tasks and flexibility in dealing with the changing environment of the Consolidation operations. Take initiative
• Ability to prioritize work to meet deliverables. Prioritize
• PC Literate with strong EXCEL skills – EXCEL + formulas
• Strong knowledge of the Bank's general ledger system and its automated processes is an advantage.
• Ability to quickly learn and understand the BNS General Accounting Structure and Reporting mechanisms including PeopleSoft EGL and OBI
• Ability to deliver within tight deadlines and available to work overtime (including weekends) to meet Quarter-end and project deadlines. Experience in high volume deliverables; accuracy and attention to details.
• University degree with major in Business Administration Accounting. Preference will be provided to the holder of a recognized accounting designation (CPA, CGA, CMA) or in the final year of completion.
• Experience in financial accounting and reporting large volume data worksheets
• Expert knowledge of Excel
• Knowledge of state-of-the-art financial accounting and reporting systems. E.g., PeopleSoft and Oracle Business Intelligence (EGL) is an advantage.

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.