Tangerine

  • Senior Manager, Finance- IT & Projects

    Location
    CA-ON-Toronto
    Job Type
    Regular Full-Time
    Department
    IT Governance and Enterprise Security - 1060
  • Job Description

    DEPARTMENT SUMMARY:

     

    The Information Technology (IT) department manages the technology and computer infrastructure that drives Tangerine’s business systems.

    The IT department supports the organization in these critical areas:  PMO, End-User Technical Support, Desktop Management, Network Management, Voice and Data Communications, Business and Web Applications and Strategic Technical Planning.

     

    ROLE PURPOSE:

     

    Reporting to the Director, PMO Head, the Senior Manager, Finance - IT & Projects is a hybrid role requiring a solid background in both IT, Business and Finance. The Senior Manager, Finance- IT & Projects is accountable for planning, reviewing, analyzing and improving the IT and Projects budget, forecast and accruals processes and tools. A strategic relationship stakeholder, the incumbent is responsible for bridging and managing the interactions between Finance, PMO, Strategic Project Office (SPM), Business, and the IT departments. This role will have full accountability for IT operational expenses and oversight of the financials for IT procurement and vendor costs. The incumbent is responsible for developing and improving the current capitalization models and looking for cost- reduction measures for IT and business projects as well as expenses.

     

    In addition to managing the IT Finance team and the day-to-day IT financial operations, the Senior Manager, Finance – IT & Projects will advise IT Executives on financial performance and decisions in addition to overseeing the IT annual budget including all of IT, as well as IT and business projects.

     

    ROLE ACCOUNTABILITIES:

    • Drive the IT annual operating plan cycle including target setting, guideline creation, and producing presentations for senior leadership and board of directors.
    • Lead the IT Finance team to: prepare and manage an annual IT budget with monthly forecasts with accruals including reporting and presenting variances and corrective measures to senior management within IT and Finance, work closely with IT Leaders to understand their requirements, gather the asks and consolidate at IT level.
    • Lead the Zero Based budgeting exercise within IT department, to capture the itemized details of the operational spend.
    • Leverage existing accounting and financial management framework in order to monitor and enhance reporting performance.
    • Provide sign off on the accuracy of the monthly opex spend for IT and ensuring that all the costs are accounted for.
    • Notify and report to IT Senior Management concerning any trends that are critical to the IT and Tangerine financial performance, and provide recommendations for corrective action.
    • Oversee the IT Procurement and vendors costs within the IT department from a financial accountability perspective ensuring the availability of budget.
    • Create and implement the projects quarterly forecasts with accruals including reporting and presenting variances and corrective measures to senior management within IT and Finance.
    • Analyze monthly financial reports for IT Executives by providing variance commentary for prior period and variance to plan/forecast, preparing reports and presenting findings/recommendations.
    • Review and prepare monthly/quarterly financial reporting, including accruals integrated into forecast, to IT Senior Management and the relevant committees and working groups.
    • Responsible for building, developing and implementing IT Cost models, and accruals integrated into the forecasting process.
    • Key relationship stakeholder acting as a liaison between IT, PMO, SPO and Finance teams to ensure compliance with internal controls, creation of project codes and transfer of budget.
    • Partner with Scotiabank leaders to report the savings from key initiatives.
    • Lead the financial analysis component of key initiatives in order to determine cost benefit analysis, savings impact; track and report the same to Management and Scotiabank leaders
    • Provide budget input into business cases/PARs, and ensure the IT and business Projects spend is on track and within budget.
    • Subject matter expert on providing insight on treatment of cost for both IT and Business projects.
    • Lead the project reporting process for Tangerine Business projects to consolidate monthly business projects forecast monthly including accruals; and IT forecast quarterly.
    • Review the capital and operational spend on monthly basis for IT and business projects; share the same with PM’s in order to determine the forecast.
    • Provide sign-off that financial calculations are correct and analysis is reasonable for all business cases presented to EC.
    • Participate in cross-functional initiatives to provide financial direction for operational decisions
    • Critically assess the quantitative reasonability of the future economic benefit associated with each item that is capitalized (particularly as related to capitalization of internally developed software costs).
    • Review and implement modifications as required to the financial policies, systems, and procedures for IT Department.
    • Review, develop and guide the implementation of financial controls of the IT Department to ensure activities are performed in accordance with corporate procurement/compliance policies and applicable statutes, rules and regulations.
    • Analyze and break down IT infrastructure and development costs into relevant components and categories.
    • Provide support through tasks that gather cost and budget data for IT and Projects, assemble and produce financial reports and any other duties that assist in the IT Financial Management process (e.g. Zero Based Budgeting exercise).
    • Manage and track for the hiring changes for IT; and attain appropriate EC approvals.
    • Manage the review of invoices, time sheets to determine if the spent amounts qualify for capitalization under IFRS. If an amount can be capitalized under IFRS, the incumbent will clearly document their rationale on how the IFRS capitalization requirements are satisfied.
    • Oversee the time tracking tool, review the hours reported by FTE and Contractors for accuracy of charging it to correct project codes.
    • Review and approve the FTE hours spent on capitalized activities and provide sign off to re-class the cost to business projects.
    • Annually review all the IT fixed assets and software to assess if any items are impaired under IFRS standards. If an impairment exists, the incumbent, with the aid of the Finance department, will calculate the impairment loss.
    • Assist and participate with internal/external audits when required.
    • Maintain a high level of proficiency with respect to technical, financial and industry sector developments, to ensure that Tangerine is well positioned in the marketplace.
    • Assist in managing IT resource allocations, tracking project expenses and all other operational expenses.
    • Responsible for educating IT functional managers on financial controls as it pertains to IT.
    • Provide support to the IT Department as well as Finance, PMO, PMO, Procurement and other business lines as required.
    • Provide input into budgeting process with responsibility of managing defined governance procedures.
    • Responsible for conducting regular performance assessments for the team.
    • Responsible for understanding and complying with the Regulatory Compliance Framework including the Anti-Money Laundering/Anti-Terrorist Financing and Sanctions Policy and all AML related policies, procedures and controls within the department.
    • Other duties as assigned.

    MINIMUM QUALIFICATIONS:                                                                                                                                                    

    • Education/Experience
      • University or College Degree or equivalent experience
      • 7+ years of related experience in accounting, budgeting, financial planning and analysis with previous experience supporting the IT function
      • Experience with industry best practices and standards (ITIL, CMM, CobIT and others)
      • Proven track record for effective people managing, and mentoring and coaching skills
      • Must have previous experience in Information Technology
      • Must have previous experience in Risk Management, Compliance and IT Finance
      • Must have previous experience in a financial institution
    • Professional Certification
      • A recognized accounting designation (e.g. CPA) or working towards a professional accounting designation is preferred
    • Specialized Knowledge
      • Strong knowledge of Budgetary Management and Accounting principles and procedures

     

    • Technical Skills
      • Advanced capabilities and experience in the use of MS Office Suite (Word, Excel, Access, Power Point, Visio, Project, SharePoint)
      • Experience in using financial software such as FMS, Basware, EPM, Anaplan, and others
      • Sound decision-making and analytical abilities
    • Abilities
      • Ability to multi-task concurrent initiatives while meeting deliverables and timelines
      • Willingness to take on challenges and be adaptable to changing priorities
      • Ability to work independently as well as part of the larger team
    • Attributes
      • Excellent written and verbal communication skills to deal effectively with peers, management and all business contacts
      • Self-starter

     

    WORKING CONDITIONS:                                  

     

    The Senior Manager, Finance – IT & Projects 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.

     

    DIRECT REPORTS:

     

    Yes.

     

    DISABILITY ACCOMMODATION:

     

    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.

     

    MANAGING RISK:

     

    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.

    Management COMPLIance accountabilities:

     

    All managers and above at Tangerine are responsible for understanding and complying with the Regulatory Compliance Framework including the Anti-Money Laundering/Anti-Terrorist Financing and Sanctions Policy and all AML related policies, procedures and controls within the department.

     

    Tangerine is an equal opportunity employer.

     

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