Senior banking Financial Analyst - To support the Software Currency Team within the Technology function - 37763

Senior banking Financial Analyst

Location Address: Hybrid (2x per week on Mondays and Wednesdays currently, subject to increase), Downtown

Contract Duration: 6 months

Story Behind the Need

• Business group: The bank’s Strategic Portfolio Office (SPO) manages the development, execution and performance of the department’s strategy and roadmap. We ensure a stable, secure and efficient infrastructure and service delivery, that protects the customer experience and supports business growth. We lead efforts around performance, optimization and innovation, best practice portfolio management, financial management and transparency, and employee experience excellence.

• Project: The Technology Program Office reports into the SPO and is responsible for the delivery of GTEP and CISO Strategic Initiatives. This includes Project/Program Management, Project Life-Cycle Planning, KPI Reporting and Benefits Realization. We provide an end-to-end view of all Global Strategic Programs and liaise with key IT Corporate Functions.

• Reason for request: Ongoing project requirement - needing support with financial planning, analysis, and record keeping.

Role Summary:

We are seeking a detail-oriented and analytical Finance Analyst to support the Software Currency Team within the Technology function of a leading banking institution. This role is critical in tracking, analyzing, and forecasting the financial aspects of software remediation initiatives, ensuring alignment with cross functional teams, risk mitigation efforts, and internal cost optimization goals.

• Financial Planning & Analysis (FP&A):

- Support budgeting, forecasting, and financial planning activities for software remediation programs.

- Track and report actual vs. planned financial performance, identify variances, and provide insights into the reasons behind discrepancies.

• Program Cost Management:

- Collaborate with program managers, technology leads, and procurement to ensure accurate financial tracking of ongoing remediation projects.

- Monitor financial impacts of software upgrades, patching, and legacy decommissioning efforts.

• Reporting & Insights:

- Prepare monthly and quarterly financial reports and dashboards for senior stakeholders.

- Highlight risks, variances, and recommend corrective actions to maintain budget discipline.

• Governance & Compliance:

- Ensure financial processes adhere to internal audit controls, and regulatory compliance.

- Support audit requests and documentation related to capital vs. operating expense classification.

• Stakeholder Engagement:

- Liaise with cross functional teams to ensure alignment of financial metrics with project milestones and remediation roadmaps.

- Strong written and verbal communication skills to effectively present financial information to various audiences.

Typical Day in Role:

- Downloading multiple reports from various platforms and combining them into Excel (supporting the centralization)

- Point of contact for financial questions/ needs (provide any required details and reporting figures to stakeholders i.e. how much do we expect to see coming in forecast)

- Forecast, accruals updates and management between stakeholders

- Cost tracking and financial reporting metrics

- Other administrative tasks as required

- Working with Delivery Managers and cross functional SMEs to correctly collect and record accruals information

- Working with Delivery Managers to create and maintain project forecast

- Track project budgets and expenditures, monitor transaction controls and costs against budgets.

- Predict potential budget overruns and offer solutions.

- Recognizing and bringing exceptions to policies and procedures to the attention of Director for further guidance and resolution.

- Assist Director in various team-related tasks, resolution of exception items as well as special project-related work.

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

- Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.

- Oversee team’s invoice processing and maintenance.

Must Have Skills:

• 10+ years’ experience working in the capacity of a Financial Analyst

• 5+ years’ experience managing budgets for large scale programs ($20+ million)

- Seeking a senior resource with forecasting, budget planning, variance analysis, and providing reports to executive management.

• Strong recent experience with Canadian Banking and financial institutions

• Advanced Excel experience: working with large volumes of data, index match, VLOOKUP, complex formulas, experience centralizing information into Excel

Nice-To-Have Skills:

• Financial modelling experience is an asset

• Knowledge of software asset management, software lifecycle, or end-of-life software risk practices.

• Familiarity with Agile or hybrid delivery environments.

Best vs Average: The ideal resource will be a strong financial analyst with many years’ experience supporting large scale projects for Canadian financial institutions. Must have skills cover the team’s requirements. Seeking someone who meets those skills and is excited to contribute to the team’s success!

Degrees or certifications:

• Bachelor's degree in a related field such as business, finance, or commerce required