Senior Reconciliation Analyst
City : Toronto, ON, CA, M5H1H1
Category : Customer Service Representative
Industry : Finance
Employer : Scotiabank
Requisition ID: 175249
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
- Work location: 40 King Street West, 10th Floor, Toronto ON,M5H 1H1
- Reports to: Senior Manager, Financial Reconciliation
The Senior Reconciliation Analyst is primarily responsible to perform the GLRAS reconciliations and Compensating Control Reconciliations. The incumbent will perform monthly financial reconciliation on data between CDS (Certified Data Sources) and EGL for assigned risk domain, and will perform the compensating control process for risk groups which have not adopted the GLRAS process. This role works closely with various Risk Groups and business units to investigate variances identified in the reconciliation process and performs adjustments as required. The individual is also expected to prepare a reporting package to present the certification status of the reconciliation for management's approval. The Senior Reconciliation Analyst works closely with IT&S to facilitate the development and enhancement of GLRAS and other database.
The Financial Reconciliation team is responsible for developing, managing and executing the centralized financial reconciliation process within the Bank. The Financial Reconciliation process is a critical process in supporting the Bank's RDARR (Risk Data Aggregation & Risk Reporting) compliance for 2016 and onwards. This team is also responsible for executing the Investment Report (IR) and all-bank IBA ICA reconciliations.
Is this role right for you? In this role, you will:
- Will perform monthly financial reconciliation between CDS (Certified Data Sources) and EGL, using Bank-developed application called GLRAS (General Ledger Reconciliation Adjustment System). The incumbent will mainly cover but not limited to monthly NRCR GLRAS Reconciliation.
- The reconciliation process will include:
- Identify and investigate above threshold variances with business units
- Perform manual adjustments for known variances and balancing adjustments for below threshold variances in GLRAS
- Report on the certification status of the reconciliation for management's approval
- Escalate significant reconciliation issues to the Senior Assistant Manager, Senior Manager and/or higher on a timely basis
- Manage user access requests and performing periodic access reviews to ensure compliance to IT application control requirements
- Mainly perform but not limited to monthly ALM Compensating Reconciliation as per the Interim Process for Decentralized Reconciliations Standard. This includes:
- Compare Risk Group reconciliation data against EGL to determine coverage and accuracy against approved thresholds
- Identify above threshold variances and follow up with applicable Risk Group(s) for explanation
- Provide support to and perform other reconciliations (Other GLRAS reconciliations or Compensating Control reconciliation,IBAICA Reconciliation) within FAR upon request.
- Act as the backup for the other team members to perform other reconciliations during their absence.
- Assist the audit requests timely and accurately.
- Perform other projects/duties as assigned or required by Management.
Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
- Ability to gain understanding of the Bank's accounting systems and procedures quickly (EGL,OBI,Smartview, GLRAS)
- Strong analytical, problem-solving, and financial analysis skills; ability to identify issues and find solutions
- Attention to details; strong time management and highly motivated to produce accurate and complete information under tight deadlines
- Flexible in dealing with changing reconciliation process as more risk groups on-board to the GLRAS process
- Strong communication skills, as this role works closely with various departments with the Bank
- Superior Excel skills including pivot tables, v-lookup; Macro (VBA) etc.; prior accounting reconciliation experience
- Sound knowledge of Bank's Products
- Undergraduate degree, Preferably in Business. Working towards a recognized accounting designation (CPA,CA, etc) or CFA is an asset. Candidates in the final year of their certification would be considered based on prior experience.
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.
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.