Not really sure where to start, but I know this is the worst job I have ever had in my life.
The management is horrendous.
They do not teach or show you how to do things due to their time constraints, and then rip on you for doing it wrong or not doing it. This is after bothering them time and time again to help you, but they always seem to be too busy, until its time to power trip and give you a lecture.
Management doesn't seem to move up through positive work and challenging themselves and others to make the workplace better, but through sucking up to whomever is above them in the chain.
Upper management waltz's in acting like someone they're not. Generally trying to act like some sort of "alpha male" in a fancy looking suit, even though these suits that boost their confidence are no more than average church goers suit, LOL.
Cutbacks also destroyed morale in the culture. Employee's there for their entire lives that everyone took a liking to were given a package and told to get out as their job would be centralized. Only causing chaos and non competent employees would take on these additional tasks so corporate could save money on the more expensive long time employees.
Inter-company communications are also horrible. If you ever need anything or have questions above your branch you will be passed around dozens of different departments all the while waiting on hold for a minimum of 30 minutes each transfer.
They give you a contract with your set hour
I am an employee who consistently, along with other colleagues, surpass sales objectives during the year. I am frequently solicited by management to make sales presentations due to my high product knowledge. I routinely participate at numerous charitable events throughout the year also. Despite my active involvement in the community and excellent sales track record, many of my colleagues and I have not been happy to work for Scotia for many years now. Below are some of the reasons:
- Employees are expected to work late to meet job demands. Overtime policies, such as requirements to secure approval before working extra hours, make it difficult for employees to get paid.
- It has a very poor record-keeping system for overtime.
- Unpaid overtime has been a complaint from employees working in all provinces
- Some branches pay employees overtime while others do not. Management denies it.
- Employee salaries are well below the average in the industry, despite record sales. Some competing banks offer up to $10,000.00 more a year for candidates with the exact same qualifications and position.
- Being short staffed is a common problem at most branches due to its high turn over rate.
- Administrative support staff in branches are being eliminated making the overwhelming job demands even worse and increasing the long unpaid work hours.
- The focus on sales is tremendous. For example, I've been asked to request some brand new clients I meet to come back to see me
ProsFree breakfasts during meetings
ConsLong Hours, Unpaid Work, Sales focused rather than client focused
Scotiabank's best feature are the people that work there, which to me is a little disheartening. Their business practices are a little off in my eyes, such as their training. For example, I am a new employee and was thrown on to live calls with real customers, dealing with their live accounts, while in training. I was not comfortable with that at all. Coming in from being unemployed and knowing how sensitive an issue money is to alot of people, that was very surprising.
I now help support the loans and mortgages department, which I took because I needed the full time hours/salary. If I had known the training would have just been one week, three days of which, were spent reading manuals and having MAYBE one hour of computer "play time" to learn processes and procedures, I might have stayed in the entry level role a little longer to get used to the system, which is VERY outdated.
The workload is not very "employee friendly". Not that I'm at work to breeze by, but there is something to be said about making the employees happy by not treating them like dogs and just expecting them to take hours upon hours of calls, back to back to back, without room to leave a note on a customers account. Our time is counted against us by the minute, even if we take a 10 second breath between calls, which goes against our statistics, which goes against our merit increase. That's just one of the measures that we have to compete with.
I feel that if Scotiabank was to really look at how
ProsSome free banking/learning about money and the Shares plan
ConsWorkload is stressful, vacation time is based on the centre, not the department, system is slow/keeps crashing, unable to email statements to customers who request them
3.0
Senior Customer Service Representative | Uxbridge, ON | Sept 6, 2022
Good but actually terrible
Good because of the benefits and part time and job security. That comes with the cost of being underpaid and working for a company that does not match my personal values. Being treated as a number and upper management does not believe our staffing needs and staffs based on an AI metric. Company is constantly updating systems which leads to many system outages and slowness and general confusion. System integration never meet stated deadline by company.
So many things to know and often hard to find information, even when contacting department that is supposed to have said info. Takes forever to hear back from HR for payroll issues.
Company keeps changing prices and rewards the rich while penalizing the poor. Had to deal with the brunt of customer complaints during COVID when company raised prices and charged for services not previously charged. If you have $5000 in an account you get more banking benefits than employees. Company expects sales targets for some service level positions but does not allow for branch to be fully staffed to reach those targets and get the training needed which effects the bonus you get. Company sends out a survey that asks if you would recommend Scotiabank but makes us tell customers it's based on our service even though the question does not ask that. Our bonus gets penalized if branch is short staffed and we get low customer ratings but ratings are about Scotiabank. Implements good policies but doesn't see how unrealistic it is to implement them
cotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Since welcoming our first customers in Halifax, Nova Scotia, in 1832, Scotiabank has continued to expand its global reach. Today, through our team of more than 86,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking, to over 21 million customers.
Scotiabank's continued growth and success is founded on several key factors:
A committed team that lives our shared values and works together to provide customers with expert advice, insights and financial solutions.
A highly diversified and well-balanced business, operating within a clearly defined global footprint.
A strategy with a clear focus on three priorities that will help us build an even better bank: being more focused our customers; enhancing leadership depth, diversity and deployment; and being better organized to serve customers and reduce costs.
Our Core Businesses
Our strategy of diversification underpins our potential for sustainable earnings growth in each of our four business lines: Canadian Banking, International Banking, Global Wealth & Insurance and Global Banking & Markets, over the long term.
Canadian Banking
Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 7.7 million per
ProsGood Work life balance
ConsBad management
3.0
Customer Relations Representative | Vancouver, BC | Apr 14, 2016
A Great Place To Work
A typical day at work for me consists of assisting clients with their everyday banking needs, greeting them as they come to the branch for appointments, and following up with with my team. These days it seems like there is always something new afoot; these changes are often greeted with varying levels of enthusiasm from my co-workers but I do my best to try and be a cheerleader for change.
The time that I have spent with my organization has taught me to listen and when in doubt, ask questions as ambiguity and assumptions often lead to mistakes. I believe that great customer service begins with listening. If a customer needs to vent their frustrations (within reason) sometimes it is necessary to let them. In the end, we must hear what they are saying and respond sincerely and helpfully. My job is about more than simply posting transactions correctly; in order to be REALLY good at my job, I need to offer sound and reasonable advice and solutions that help the client get ahead financially and leave them with peace of mind.
Management within my organization...management is a difficult job and there are some individuals that are better suited to it than others.
My co-workers make my job feel less like work. I feel that we are a great team, we look out for each other and try to help out wherever we can. These people are without a doubt the most enjoyable part of my job.
The hardest part of my job is dealing with difficult clients. For some, everything is "urgent", mu
You're never good enough and you're expected to give your life over to Scotia
This might just be the area I am in but it is an incredibly toxic environment.
Upper management does not trust their employees and is very condescending. We are always considered in the wrong and not doing enough. They have zero trust in their employees and we are made to feel incompetent.
Questionable requests have been made by upper management (all verbally because they would be in trouble if anyone had proof) such as telling us we are no longer able to book off new vacation for the foreseeable future because we are "short staffed". We are short staffed because Scotia has cut a ridiculous number of personnel and are squeezing every ounce of energy out of those that are left.
Overworked, no one in our group has taken a lunch break in nearly a year.
We often are told by management and upper management that we are wasting the bank's time and do nothing.
Constantly felt we are being spied on by management and are constantly under the microscope.
The atmosphere feels very much like a "boys club" and although they preach about gender equality and representation in the work place, if you look at those employed in upper management and as executives... you can see that equality and representation is clearly lacking.
Certain employees are able to get away with huge transgressions whereas others are held on a much tighter leash.
Seriously, everyone in our larger area hates it here. My recommendation to upper management would be to stop trying to squeeze ever
ProsSome of my coworkers have become close friends
ConsLack of respect for employees, bad management, "boys club" environment, everyone is looking for someone to blame for any issue, not paid enough for what we do, overworked, ridiculous expectations, toxic atmosphere, managers that are not fit to be managers, all about the bank's profit with no regard for employee well-being
Bank is innovatively growing, career growth opportunities within the bank, Managment in a nascent stage
Scotiabank is growing while the other banks are showing signs of slowing down. The bank is developing a fresh vision and the bank is trying to venture in to some unique endeavours. The vision however needs to seep in to other groups.
A typical day at work requires time sensitive reports to be delivered to trading floor, risk management and finance. Month end and quarter ends are particularly busy and require working over the weekends for timely reporting to upper management. This requires attention to detail and sensitivity to time given the information is published for the investors of the bank.
The co-workers are hard working however, some times skills do not match the work that they are asked to deliver. Training opportunities have been made available to the staff .The staff has varying levels of competencies. Its a challenge and an opportunity for personal growth.
Hardest part of the job is to get timely approvals from the front desk and risk management on the month end valuation adjustments. It needs to ensure that the analysis reflects the market conditions and is conservative enough to protect the bank at large on any adverse market movements. Being a part of a big organisation also requires ability deal effectively with internal business partners who might be apathetic to the requirements of my group. This also create opportunities for improvements in the processes and sensitising staff to changing requirements. The banks are all heading towards tight ope
ProsPart of huge change, and opportunities in various parts of the bank
Good Place to get started. Poor Standards and Ethics
Fine people, fine culture. Most of the people are nice, and management team respect employees.
Compensation are fine--above market average, and good additional compensation.
However,
1) All the banks(not just Scotia) would never treat people equally and nicely unless you are rich. They all advocate that they treat people nicely and equally regardless of their nationality, race, economic status and occupations. That's a lie.
2) This is a Sales Role. It means that sales is everything. If you want to follow code of conduct, standards and ethics, you would never be successful. Sales is everything--again, all the banks are the same, not just Scotia(Scotia is actually comparatively better than its competitors regarding to this).
3) People are really nice and respect each other, and that holds to be true at 99% of the time. The 1% being left is that if the issue is related to their sales------You can spend 3 days to work for a customer in order to gain the customer's respect and trust; however, a senior would tell you that this customer has been assigned to other people when the customer is about to bring you big sales. Again, this job is all about sales.
4) You don't need a college degree, and you don't need to have any financial knowledge to do a sales role. They would train you how to make people happy and getting sales instead of teaching your financial knowledge--If you don't trust me, ask a FA to calculate interest payment/amotization/mortgage payment/rate of ret
ConsSell or go home
5.0
Senior Financial Advisor | Calgary, AB | Feb 11, 2019
Great Employer with Great People
I am currently a Senior Financial Advisor with the Bank of Nova Scotia in Calgary. I take an all encompassing approach to analyze and meet the needs of high net worth clients' financial affairs and provide them with the necessary investment advice to meet their goals and objectives. My role allows me to provide financial planning advice through taking a holistic approach towards understanding not just the client's financial affairs but their overall lifestyle as well as their past, present and future objectives. From there, I use that information to assist and advise clients on different financial matters, such as investment solutions available to assist them reach their goals, mainly retirement or more immediate credit solutions they may need. I regularly assist high net worth clients, such as business owners and surgeons and other professionals, with more complex borrowing and financing needs related to their business.
As the role of a Financial Advisor has become more competitive, I add value to client relationships by relating with them on a personal level before discussing any financial services. Once rapport has been established, I determine their overall situation as well as their financial objectives and provide investment solutions accordingly. My primary objective is to focus on providing value added service for my clients using my knowledge and expertise rather than solely giving a solution to what they originally asked for. I aim to continuously discover differ
If you like to work in chaos,this is the place for you.
Orientation is a joke. an hour with a bored HR person going over benefits (which suck BTW. Training programs and tuition reimbursement programs are "by invitation only" so not everyone can benefit from learning opportunities. 2 weeks severance pay for every year worked. Ridiculously high premiums for health insurance and if your spouse / partner is eligible for health insurance through their job Scotiabank wont allow you to have them on your health insurance, paltry 401k match) and nothing else. After I went through the new hire program with HR, I had a meeting with my manager who was very high up there despite her lack of knowledge about almost everything in the department she ran and being a lapdog for the SVP who ran the office.. I asked her who i should introduce myself to that i will be working with most often since my job involved working with people all over the bank. I was told to "just do my job. You're not here to make friends."
the bank is undergoing massive operational changes as a result of the Fed and NY State Banking Commission slapping their hands really hard because the bank got caught money laundering a few years ago but no one can define what the end state will be, not even the people working on it. They are hiring a lot of people to work on this program - a lot of really smart, talented people who quickly become frustrated at the arrogance, lack of knowledge and hubris among long time and senior level staff. Don't even think about working here if y
Empresa seria y con un ambiente laboral satisfactorio.
En la Administración Local de Recaudación de Cuernavaca se inicia el día viendo los correos electrónicos, para ver si no hay solicitudes urgentes de información, posteriormente se revisa la documentación que llego el día anterior y se asigna para su trabajo, se supervisa el trabajo de los compañeros y se envía a despacho los documentos que regresan de firma.
Se coordina al personal en sus funciones asignadas y se solventan dudas, se instruye respecto actividades específicas o instrucciones giradas por el Administrador.
Se esta en constante comunicación personal/vía telefónica, con los jefes de unidad, lideres de grupo, subadministradores o Administrador para afinar puntos respecto del trabajo y se planea la estrategia para alcanzar la meta del indicador mensual.
Durante mi estancia en la Institución aprendí y desarrolle el trabajo en equipo, utilice el liderazgo y trabaje por objetivos y bajo presión, siempre alcanzando las metas deseadas y/o establecidas mes con mes.
En cuanto a las dificultades definiría los breves términos para rendir informes o proporcionar información, sin embargo es un ritmo de trabajo que potencializo mi creatividad, ganas de trabajar y superarme, por eso me gusta mi trabajo, porque cada día es un reto y un gusto laborar ahí.
Se inicia el día revisando la "lonchera", verificando sellos, y recibiendo depósitos enviados con COMETRA, me traslado a la empresa de valores y se realiza supervisión del personal que revisa los depósitos, se va al
ProsExcelente ambiente laboral
ConsSuledo bajo.
Questions and answers about Scotiabank
If you were to leave Scotiabank, what would be the reason?
Asked Mar 28, 2017
Managment.
Answered Oct 12, 2019
Si cette ne correspond pas à mes attentes et objectifs
Answered Aug 27, 2019
Why did you leave your job at Scotiabank?
Asked Mar 21, 2017
Scotiabank was the most toxic environment I had ever encountered. The managers literally swore at the staff for missing sales targets that had quadrupled in three years. There was no sense of integrity. You were praised for actions that ripped off customers at long as you didn’t get caught. Any complaints would be dumped on the front line staff even-though management encouraged actions that led to complaints. Promotions were 100% about politics. Great colleagues were pushed aside even if they tried to mind their own business and their positions given to people with an utter lack of competence but played political games with management. Anybody that tried to stand up and have even possibly blow the whistle on this was quickly dealt with. Do not ruin your mental health by working for this company. They are utterly corrupt and if you do work for them, you’ll see this within a few weeks.
Answered Dec 12, 2020
Because it is boring, awful
No work for you to do, then blame you for not working for them
Answered Nov 29, 2019
How often do you get a raise at Scotiabank?
Asked Nov 16, 2022
Yearly
Answered Feb 3, 2023
Annually
Answered Feb 2, 2023
What is the promotion process like at Scotiabank?
Asked Nov 22, 2022
Slow
Answered Feb 2, 2023
Very fast once you show the initiative
Answered Jan 31, 2023
What would you suggest Scotiabank management do to prevent others from leaving?
Asked Mar 21, 2017
Give employees the tools they need to succeed, decent technology, decent training and the ability to reach out to support staff for help when needed.
Answered Oct 16, 2021
Seniority should stand for something, loyal committed means nothing to them, want to be so inclusive they forget they have employees that have been good and do not give them anything for it, instead a slap in face hiring others that get more hrs then quit, over and over again.
