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Costs Management Accountant / Business Partner, GBM Finance

Job ID 99425 Jun. 04, 2019 London, United Kingdom

Join the Global Community of Scotiabankers to help customers become financially better off.

A Best Workplace
Scotiabank is a premier financial institution and Canada’s most international bank recognized as a Best Workplace®, in Canada, Mexico, El Salvador, Costa Rica, Puerto Rico, Dominican Republic, Panama, Peru, Chile and Latin America by the Great Place to Work® Institute.

A multinational winning team
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. We are dedicated to helping our 21 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management, corporate and investment banking.

Corporate Social Responsibility
Scotiabank helps to build bright futures worldwide through ethical banking practices, environmental awareness and a commitment to communities.


Contributes to the overall success of the Finance department in London ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives.Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.

Providing support to Global Banking and Markets’ (GBM) business lines and functions for the London legal entities through robust cost controls and the production of key management information (MI):

  • Principal London contact for all expenses related matters and queries.Act as London ‘Cost Business Partner’ to local and head office stakeholders
  • Production of Business Line and support function Expenses and FTE MI
  • Contribute towards the production of the monthly Executive Committee (EXCO) MI reporting pack
  • Production of annual Front Office and Support departments’ expense plans
  • Production of quarterly Front Office and Support departments’ expense forecasts
  • Develop relationships with key stakeholders in London and Toronto


Act as the principal contact point for all UK cost related queries and matters

Provide cost analysis and commentaries to assist with the preparation of the monthly EXCO financial summary.

Provide cost analysis and commentaries to assist with preparation of the quarterly SBE (UK subsidiary) Board Finance report.

Produce monthly cost packs with detailed commentaries for individual transits and business lines/support functions.

Prepare the quarterly/annual Expense forecast/plan for Front Office and Support groups in partnership with Support/Business Line heads.

Responsible for UK accruals and prepayment schedules and submit month end journals.

Complete thorough month end cost review and ensure any corrective journals are submitted prior to ledger close.

Responsible for the monthly/quarterly Technical Service Agreement/Service Level Agreement (TSA)/SLA calculation/journal/settlement process. Monitor TSA charges for submission to Executive Office Tax for Residual Profit Sharing (RPS) purposes. This includes the maintenance and ownership of the SLA/TSA matrix.

Promote Cost Management - record and suggest savings.

Business Partnering - Establish strong working relationships with core stakeholders across UK business lines and support functions.

Develop understanding of Global Reporting view against Local Reporting – including the allocations from head office.

Ensure documentation of assigned tasks are up to date.

Develop relationships with core head office finance teams.

Calculation and posting of intra-group charges for premises costs and other services providers

Assisting with the development of new/improved MIS procedures and related project work

Actively seek to improve current processes and Excel based working files by introducing enhanced controls and automation wherever possible. Ensure files are up to EUC standards.

Deliver high quality and timely responses to local and Head Office requests/queries

Performing ad hoc expense and variance analyses and general queries

Complete the balance sheet attestation for expense related positions

Proactively advance understanding of the various Banking products to be able to provide cover for other team members and widen progression opportunities within the London finance team.

Provide adequate cover for tasks carried out by other members of the Business Support Team.

Contributes to a high performance environment and fosters an inclusive work environment; supporting the vison/values/business strategy for the team.

Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Code of Conduct.


MI is the public face of Finance and published data has to be accurate, reliable and may be used to support decision making at Senior and Executive levels.

The role covers preparation of the MI reporting of two principal London legal entities with a wide and diverse range of business products including: Corporate Lending, Fixed Income, Precious and Base Metals, Equities, Derivatives, Money Market and FX.

GBM Europe’s Cost base CAD 264million

The role requires interaction and regular communication with Senior and Executive personnel in London and Toronto.


Strong Management Accounting background, ideally with a strong focus on direct and indirect costs.

Experience of forecasting and budgeting processes.

Strong Business Partnering experience and confidence with dealing with senior managements

Being a member of a recognised UK accounting body.

Experienced with Peoplesoft GL, journal loading and adhoc interrogations.

Experienced with Essbase Smartview Cube reporting.

MS Access experience preferred.

Good knowledge of MS Excel, preferably to macro level.

Strong analytical skills.

Good communication and interpersonal skills are a requirement.

Experience interaction with Senior Management, Front and Back Office staff, Human Resources and Executive Office preferable.

Ability to work independently and as part of a cross-functional team is a requirement.

Scotiabank is committed to providing an inclusive and accessible candidate experience. Only those candidates selected for an interview will be contacted. If you require accommodation during the recruitment and selection process, please let us know. We will work with you to meet your needs.

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