Senior Financial Analyst, Technology Finance - Scotiabank, Toronto

AI Summary

This Senior Financial Analyst, Technology Finance role at Scotiabank in Toronto, Ontario, supports the Technology Finance team. Key duties involve managing technology cost allocation, producing financial reporting, and performing variance analysis for executive management. Top requirements include an undergraduate degree, preferably in IT or Accounting, advanced Excel skills, and proven analytical capabilities.

About the Role at Scotiabank

As a Senior Financial Analyst within Scotiabank's Technology Finance division, you will play a crucial part in ensuring the accurate management and reporting of technology costs across the bank's Canadian operations. This position contributes directly to the team's business strategies and objectives by providing essential financial insight and support. You will be responsible for maintaining and refining complex allocation models, which form the basis for Global Technology Area's planning, tracking, and overall management of technology expenditures. This involves the production and detailed analysis of IT cost allocations, grounded in sound activity-based costing principles, to provide a clear financial picture for various business lines. Your work will directly support executive management in making informed decisions regarding the bank's technology investments and operational efficiency. The role demands a keen eye for detail and a commitment to ensuring all finance and accounting functions adhere to established regulations and internal procedures, accurately reflecting the financial position of the company. You will also be expected to identify key factors impacting departmental efficiency and escalate any anomalies that arise, fostering a proactive approach to financial management within an inclusive culture.

Key Responsibilities and Impact

A core aspect of this role involves managing and performing in-depth analysis on large volumes of data, building sophisticated cost and driver models to provide comprehensive support to various business lines. You will prepare monthly reporting that details the Bank's utilization of IT resources, delivering timely and insightful written analysis comparing results against forecasts, budgets, and prior periods. This requires strong analytical skills and the ability to translate complex financial data into meaningful messages for management up to the VP level. Beyond routine reporting, you will provide valuable ad hoc support to both the business lines and the Technology division, demonstrating creativity in championing new approaches to leverage information for improved decision making and the development of key metrics. Ongoing refinements to activity-based allocation methodologies for actuals, forecasts, and budgets are also a critical component, ensuring accuracy and relevance. Building strong partnerships across departments is essential to obtain the necessary support and provide robust financial insight. Scotiabank is committed to fostering an inclusive and high-performing culture, where every employee is empowered to contribute to a purpose-driven winning team. Understanding the Bank’s risk appetite and risk culture is also paramount in day-to-day activities and decisions, reinforcing responsible financial practices.

Skills and Qualifications for Success

To excel in this Senior Financial Analyst role, candidates should possess a recognized undergraduate degree in Computer Science, Business Administration, or a related discipline, with a preference for IT and/or Accounting degrees. Advanced Excel skills, including proficiency with pivot tables, lookups, and complex formulas, are absolutely essential. Familiarity with Excel Power Pivot or Power BI would be a significant advantage. The position demands proven analytical skills, with meticulous attention to detail being critical for managing large volumes of data and translating it into actionable insights. Strong organizational skills are necessary to manage multiple follow-ups and maintain up-to-date data, ensuring high-quality output even under constrained timelines. Excellent inter-personal skills are vital for effective collaboration with colleagues and internal customers, fostering a supportive environment. Strong verbal and written communication skills are also required, given the frequent interaction with management. Attainment or active pursuit of a CPA and/or MBA designation will further enhance your qualifications for this challenging and rewarding career path within Scotiabank's dynamic finance and technology landscape.