Bill Lau
Richmond Hill,ON
Summary
Versatile Senior Manager with 20+ years experienced in Insurance Industry, specializing in Financial Analysis and skilled at planning, implementing and overseeing key improvements to drive business growth and efficiency. History of cultivating an open culture with free exchange of information. Pursuing new professional challenges with a growth-oriented company.
Overview
21
21
years of professional experience
Work History
Senior Manager, Financial Analysis
Bank of Nova Scotia
01.2013 - Current
- Oversee all financial results for the entire Caribbean region & Mexico which offer various Life and P&C insurance products; Perform comptroller functions for international insurance development projects: Responsibilities include review business cases, provide financial commentaries, determine base budget, scenario analysis and evaluate profitability after product launched
- Deliver financial and business-risk subject matter expertise in insurance development activities (new product development, new business lines, acquisitions and divestitures and reinsurance structures.) Responsibilities include investment, policy accounting infrastructure, user requirements, accounting manual, user acceptance testing, internal control Ensure effective financial / investment infrastructure is in place and optimizes integration of insurance financial operations into bank’s environment
- Prepare monthly and quarterly financial analysis results, annual business plans, and forecasts for International Banking Executives & Senior VP - Insurance’s review
- Responsibilities include trend analysis; SOE review, provide MD&A and presentation to enable focused understanding of performance
- Involve in IFRS 17 implementation, transition, financial reporting & analysis
- Coordinated annual budget process, include 4 years scenario analysis and stress testing
- Provide strong and effective ongoing support to international business units, which require application of broad insurance financial knowledge, including product profitability, policy accounting, investment, treasury, taxation, actuarial valuation, capital requirements and solvency
- Participate in Subsidiary start up, post Merge & Acquisition, Divestiture activities, IFRS 17 implementation: accountable for integration of accounting, planning, reporting, forecasting processes and aftermath evaluation
- Identify opportunities for improving performance and profitability, and brings forward recommendations for actions
- Accomplishments: 2014 Best of Best Employee in Finance Department (1
- Process improvement to shorten reporting and presentation process from three weeks to two; 2
- Assisted the CFO to set up a new insurance subsidiary operation in Caribbean.) Revamp the executive presentation packages: shorten the preparation & commentary timing from five to three business days.
- Improved team performance by providing comprehensive training and fostering a collaborative work environment.
- Collaborated closely with peers from other departments to drive organizational success jointly as one cohesive unit.
- Implemented and developed operational standards, policies and procedures.
- Demonstrated exceptional adaptability in navigating complex situations or rapidly changing environments with ease.
Manager, US Statutory Reporting
Manulife Financial
01.2011 - 01.2013
- Coordinate and manage a cross-border team of four analysts and provide guidance for reporting Control and manage work flow of the entire US Statutory Valuation team, ensure accurate deliverables in a timely manner Prepare staffs’ performance review and have one-on-one evaluation Provide training and coaching for improvement in deliveries on an ongoing basis Consolidate and evaluate US Statutory & Tax Valuation; provide appropriately reconciled and validated responses Provide financial analysis, data validation, financial calculations, and reporting for US Statutory & Tax US Life Valuation Coordinate the regulatory reporting general account &separate account Develop centralized data repositories, ensuring sufficient audit trails to satisfy external audits and regulatory authorities
- Identify and evaluate alternative solutions to information need and recommend appropriate solutions including Ad-hoc and steady state reports to business management Accomplishments: 2012 Q4 Quarterly award winning in recognition of “Innovative Solutions” Presented and shared knowledge of US Statutory to US Life, a division with more than hundred and fifty members
Financial Reporting Team Leader
Transmerica Canada Inc
01.2005 - 01.2011
- Supervised staff of four in the reporting deliverables and ensured high performance management Chair team meetings, pre-earnings meetings with senior executives, pre-quarter deliverables, process improvement meetings Responsible for recruiting and provided staff career development Managed the workflow for monthly, quarterly and yearly financial reporting and analyzed fluctuations Reviewed regulatory reporting Life 1 for OSFI returns and the Management discussion and analysis (MD&A) Provided documented analysis commentary to the C.F.
- And V.P
- Finance for quarterly reporting & earning packages Analyzed and reviewed the performance of company’s $8 billion investment portfolio Participated in IFRS implementation project: to include, reviews, IFRS standards, decision papers, discussed findings and incorporated executive input, realigned the chart of accounts and financial statement based on discussion and IFRS Provided quarterly SOx documentation and liaison with internal compliance for ongoing adherence Accomplishments: 2011 Q1 “Leap for the Star “Quarterly Award Winner Financial working processes has been shorten by 3 business days to 4 business days
Financial Analyst IV
Assurant Solutions
01.2003 - 01.2005
- Analyzed quarter end financial statements, OSFI P&C 2 Complied with new insurance and accounting regulations and ensure procedures are updated Completed Federal and Provincial corporation income tax return using InsureTax Prepared and coordinated audit requests and inquiries for external and internal auditors Reviewed disbursement process and monthly bank reconciliation Estimated corporate income tax provision and various monthly tax installment Accomplishments: Saved $300,000 on corporate tax payment by various investment income allocation approaches according to Income Tax Act
Education
Master of Finance -
Queen’s University
Kingston, ON01.2018
Certified General Accountant professional designation (CGA, CPA) - Accounting
Certified General Accountant
Toronto, ON01.2005
Bachelor of Administrative Studies - Accounting - Accounting And Finance
York University
Toronto, ON01.2000
Skills
- Financial & Management Reporting
- OSFI Life and P&C Reporting
- Financial Modeling & Data Analytics
- Advance Excel (Pivot & Lookup)
- Power BI
- Managed 2 Direct
- Profitability Analysis
- Process Improvement
- Management discussion and analysis
- Business Evaluation
- IFRS 17 implementation
- Mergers & Acquisitions
- Portfolio Management
- Strategic Planning
- Cross-Functional Collaboration
- Troubleshooting and problem resolution
- Forecast, Planning & Budget Oversight
- Teamwork and Collaboration
- Hiring, Training and Development
Pages
2, 2
Languages
English
Professional Working
Timeline
Senior Manager, Financial Analysis
Bank of Nova Scotia
01.2013 - Current
Manager, US Statutory Reporting
Manulife Financial
01.2011 - 01.2013
Financial Reporting Team Leader
Transmerica Canada Inc
01.2005 - 01.2011
Financial Analyst IV
Assurant Solutions
01.2003 - 01.2005
Master of Finance -
Queen’s University
Certified General Accountant professional designation (CGA, CPA) - Accounting
Certified General Accountant
Bachelor of Administrative Studies - Accounting - Accounting And Finance
York University
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