Director, Accounting Policies & Procedures - Finance

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

Purpose

The Director is responsible for coordinating the development and implementation of accounting policies and procedures in response to constant changes to International Financial Reporting Standards (IFRS) and for specialized corporate transactions undertaken by the Bank, within the applicable accounting and regulatory frameworks. This involves analyzing and assessing the impact of proposed accounting changes by the International Accounting Standards Board (IASB), as well as, resolving accounting issues, and providing advice and counsel on specialized transactions which might include financing, business combinations and disposals etc. The Director’s responsibilities also involve ensuring senior management is fully up to date on IFRS and regulatory changes that significantly impact the Bank within their area of expertise. To accomplish this, the incumbent must be on the leading edge of knowledge in their area of expertise. As IFRS change in their area of expertise, the incumbent must develop the Bank's responses, and work with industry committees as necessary, to promote the Bank’s interests. Supervision and development of staff is an essential element of the job (and recruiting as necessary) to ensure the Bank has the expertise and resources it needs in a very complex area, both now and in the future.

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

• Guide the analysis and assessment of the impact of proposed changes, related to their area of expertise, of IFRS, as well as, changes in legislation and regulations affecting financial reporting (e.g., OSFI, OSC and SEC). This necessitates an always-up-to-date in-depth knowledge of current and proposed accounting standards and reporting requirements. The incumbent is expected to develop appropriate Bank-specific accounting policies and procedures, and co-ordinate their bank-wide implementation. Such policies must also provide for meaningful and relevant management reporting information. In today's environment, this implementation may be required within a short time frame of the standard being finalized, as well as different policies and procedures for IFRS. This also involves advising executives of the proposed changes and the impact on the all-Bank and business line results, in order to change business behavior and practices, if necessary.
• Plan and manage the development of corporate accounting policies for the Bank and its subsidiaries. Also, the incumbent is expected to manage and co-ordinate the final resolution of certain accounting issues arising from the business units. Further, the incumbent needs to ensure that the SOX documentation for their processes is updated and maintained on a regular basis.
• Provide advice and counsel on business acquisitions as it relates to their area of expertise. This may involve advice on structuring a transaction to meet the Bank's accounting and financial reporting objectives, or advice on the impact of various complex transactions and investments entered by the target. This may include taking an active part in due diligences for prospective acquisitions, which may require foreign travel.
• Lead the Bank’s responses to accounting changes proposed by the IASB, FASB, and regulators, including OSFI, OSC, and the SEC. Ensure responses advance the Bank’s interests and, where needed, collaborate with peer Canadian banks, CBA subcommittees, and industry working groups.
• Design and implement the necessary financial disclosure requirements for specific topic areas. This often involves taking a broad disclosure requirement and shaping it to meet the evolving needs of users of the financial statements. Disclosure requirements must consider applicable accounting and regulatory standards for both quarterly and year-end financial statements and where applicable related presentation within the Management Discussion & Analysis.
• Maintain and update the accounting monograph and implementation guideline on a timely basis including training of users and implications of the new guideline.
• Provide strong leadership to motivate both individual and team performance. Also, recognize training and development needs of the direct reports with the objective of making the direct reports promotable into a more senior role, and to make sure the Bank has the skilled technical resources it will require going forward.

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

• Solid financial acumen and strong analytical and problem-solving skills.
• Ability to manage any number of projects/initiatives/reviews at any given time.
• Ability to coordinate resources across various areas of the Bank to get pertinent information to provide the proper accounting recommendations within tight time frames.
• Skills to search and understand a vast body of complex material in an efficient and productive manner to produce accurate results and present alternatives.
• Skills to write clear and concise memos, presentations and letters tailored to specific audiences with varying needs, depending on the transaction or project in question.
• Flexible approach in dealing with issues and implementation of IFRS, considering alternative treatments, different viewpoints and practical aspects of implementation.
• Ability to develop and maintain strong working relationships across many departments of the Bank. This is critical to successfully perform their accountabilities and deliver value and expertise.
• Strong supervisory skills as the development of staff is critical to the success of the department.
• Good working knowledge of Microsoft Word, Excel and PowerPoint and the ability to learn to use the various reporting tools to extract and present information from the Bank’s accounting records.

What’s in it for you?

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• Internal development to support your growth and enhance your skills.
• A competitive compensation and benefits package.
• An organization committed to making a difference in our communities– for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

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.

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