The Finance Department at Tangerine is primarily responsible for the capture and reporting of financial information for internal and external audiences in accordance with applicable standards. In addition, the Finance Department performs other important functions. The Accounts Payable team ensures that all outstanding obligations are discharged on a timely basis. The Management Accounting Team provides reporting and analysis to support senior management decision making and prepares forecasts each month as to the Bank's expected earnings. Furthermore, the Management Accounting Team works with the Strategy department and the business to prepare the annual Plan.
The Finance Department continually assesses risks and controls and takes action to ensure there is an effective system of internal control over financial reporting and other Finance functions. Finance also supports the business to ensure the successful implementation of corporate initiatives.
The Senior Financial Analyst of Financial Reporting and Analysis (MA) is accountable for supporting the calculation, reporting and analysis of the Bank’s Management Accounting financial results; assisting in the development of the monthly/quarterly forecasts and the annual financial plans, as well as in the preparation of other financial analysis as required. The Senior Financial Analyst will be expected to work with business partners throughout the Bank as well as within the Finance team. The Senior Financial Analyst will report directly to the Manager of Financial Reporting and Analysis.
- Contribute significantly in the preparation of monthly Management Accounting (MA) reports including analysis on the Income Statement (margin, and fee income) and Balance Sheet (product, volume) of the Bank. This would include ensuring that all files used in the process are accurately updated and modified as needed to ensure that they reflect all changes in the financial accounting rules, general ledger and mapping changes.
- Operate and update all excel files/models (including FTP, product volumes and rates, campaign volumes, rates and cost, and trial balance) used in the preparation of the rolling MA Income Statement and Balance Sheet forecasts and provide clear and concise variance explanations to plan and prior periods, by business drivers.
- Provide critical input in the preparation of the MA Income Statement and Balance Sheet plans annually to executive Management and Scotia Bank.
- Maintain an adequate audit trail (including business line approvals/sign-off, file back-ups, and version control, etc.) with respect to the compilation of the forecast and annual plans.
- Reconcile the bank’s Financial Accounting (FA) IFRS results to the Management Accounting (MA) results on a monthly basis, and provide explanations for all differences.
- Identify and implement process improvements to reporting processes on a continuous basis with particular emphasis on automation, and file linkages.
- Sustain adequate internal controls over management accounting/reporting, budgeting and forecasting functions. This involves continuously evaluating the control environment, documenting/updating policies and procedures for MA deliverables and ensuring appropriate control checklists are in place.
- Provide support to the Manager, Director, and business owners regarding opportunities to improve financial analytics and performance.
- Provide financial models and ad hoc scenario analysis as required.
- Act as a back up to the Manager, Financial Reporting & Analysis, when required.
- Liaise between Tangerine Canada and Head Office regarding issues related to Management Accounting.
- Other duties as assigned.
- University or Master Degree majoring in Finance or Accounting – Financial Accounting designation preferred
- Minimum 7 years of experience in a retail banking Finance unit, with a proven track-record of preparing revenue forecasts
- Specialized Knowledge
- Sound knowledge of FTP frameworks as applied to banks
- Good understanding of management reporting and financial planning processes
- In-depth understanding and knowledge of financial markets and Canadian banking products
- Technical Skills
- Expert level computer skills (Microsoft excel and PowerPoint) and financial modelling
- Strong analytic and problem solving skills with a solution-oriented attitude
- Ability to work under extremely tight deadlines with minimum supervision to deliver high quality output
- Ability to use and navigate Bloomberg screens
- Strong oral and written communication skills
- Strong attention to detail and organizational skills
The Senior Financial Analyst of Financial Reporting and Analysis (MA) will be working in a traditional office environment and may be subject to special working conditions as needed by the business. Special working conditions may cover a range of circumstances from regular evening and weekend work, overtime, shift work, working outdoors and/or working with challenging clients.
Tangerine will make reasonable accommodations for the known physical or mental disabilities of an otherwise qualified employee or applicant for employment, unless undue hardship to Tangerine would result. Any applicant or employee who requires accommodation in order to perform the essential functions of a job should contact Human Resources or his or her supervisor.
All members of the Tangerine Team are responsible for managing risk and compliance within their departments. As such, employees should maintain and demonstrate the highest standards of integrity and ethical conduct in accordance with Tangerine policies, guidelines and directions.
Tangerine is an equal opportunity employer.