financial advisor

planificateur

senior manager

manager

customer service representative

Scotiabank

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 hours, and I definitely intended to do well and work above those hours. The ridiculous part is that you're ridiculed if you don't spend way more than your set hours. 

You will also receive quota's in certain positions, however they will change the rules halfway through the game if they don't like you, while cutting down other well liked employees tasks because they feel bad for them. 

Ethics seem to be a massive problem in this place with some managers. They don't think when they make decisions that could lead to huge labour board disputes. 

Competence among management is easily the biggest problem with this company, I would suggest reviewing how promotions are taken into account. The people who lead best are those who don't suck up and go against what they believe just in hopes to move up, but challenge others opinions and themselves in order to make the bank a better place for everyone around them. 

People starting out in FA positions overwork themselves to the point of exhaustion and divorces, all for what ? A measly 40k ? Hopes of one day make sub 70 as a manager? 

Think deeply about this and other reviews before you join this "team". 

I'd suggest working with some sort of Coop or credit union, I have been much happier since switching to this type of business.

Scotiabank, like presumably all banks, has one main priority and one main priority only: Money. That's probably not a surprise, but anyone considering working there should go in clear-eyed about the job and the company.

There is lots of talk about doing what's right for the customer, taking care of people, being partners in their future etc. While it is occasionally true (for example, contacting people who are poorly managing high balances and leaving money on the table), the veneer of "we help people" fades away quickly when push comes to shove, in my opinion. Do not, and I mean do not pursue this job if "helping people" is your main motivation. If you can live with "helping the right people and ignoring the wrong people", proceed. 

If you're a proud capitalist and don't have any qualms about working in a system  (again in my opinion) that is designed solely to extract money from customers at the expense of almost everything else, then it can be a good, well paying job. But don't expect that attitude to stop when it comes to the staff. A good example of this for a financial advisor role is when performance is tracked - an advisor who has an extremely productive/successful week is celebrated - but once the next week rolls around, it turns into "what have you done for me lately". IE the pressure never (ever) stops. If you're a high performer, you'll definitely be rewarded with both money and more work, but you may be told that your goals were too easy (and then see them increased significantly) as opposed to you worked hard and earned it. 

Maybe the worst part to highlight is the technology - in the time I was there, it happened almost every day where I tried to set something up that a client agreed to, but the systems did not cooperate, leading to postponed appointments, missed opportunities, etc. Banks' systems are complex, and it's important to state that, but it's unwieldy and in my opinion probably designed to slow down staff. It doesn't seem possible that as many technological problems could happen, consistently, in such a large, well funded entity like the bank. It's very awkward to have to tell a customer who booked an appointment and often came in on time off work, only to be told "sorry, the system isn't working". Again, this happened almost every single day at some point. 

Apply at your own risk. Again, it can be a good job if you can deal with all of the above, but it will be stressful and you will have to be on your toes all the time. Success and hard work can be rewarded, but not as much as being a sycophant and operating in a less-than-scrupulous manner. 

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 at my branch for certain products/services that they could easily get at a Scotiabank closer to their home. However, in order to increase my branches sales, my branch manager specifically told me not to mention that they can get the same things done at the branch closer to their home or work. Making things more convenient or practical for clients is not as important as our branch sales volume. Colleagues from other branches confirm to me that the pattern is the same at their branches.

- Employees are promoted as managers more based on their knowledge of products and policies rather than their people skills. Many employees are also promoted based on favoritism.

- Yearly bonuses are kept at a minimum level even for many employees that surpass sales objectives assigned by management and even if these same employees are active in all of the banks community events.

Basically, I would never refer anyone to this bank for these reasons and so many others. 

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 they do things, they would see that they would need to;

1. Bring in an updated system that is more user friendly and easier to navigate, would make calls go faster, which would in turn lessen the amount of call wait times for our customers. 

2. Train new hires THOROUGHLY with "dummy" accounts and not throw them on the phones while they are in training just to help alleviate some of the call volume, which would help them make less mistakes and increase confidence in the customers when they speak to an agent. 

3. Change their branch hours to help accommodate our changing customer base. There are too many branches that don't have hours that are conducive to the way our customers lives are, terrible hours and an inconsistency in the practices that they offer.

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 into the job as service employees already have too many duties to handle. Managers and financial advisors having to help out on cash because the customer demand is high but the bank does not allow proper staffing.
Hiring freeze was on during COVID. Branches are moving to being tellerless which causes a lot of problems because many people rely on the tellers for many services. 
Also had to work and risk myself at the branch the entire pandemic while the head leadership sends out a video talking about the struggle but while sitting in their living rooms. 
Bank wants most business to be directed the the call centre but the call centre is OFTEN wrong and we have to deal with the fall out from that. Customers spend hours on the phone dealing with an issue that can be solved in 5 minutes at the branch. 

You will spend a lot of time on hold.


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 personal and business customers across Canada, through its network of 1,190 branches and offices, as well as 3,869 automated banking machines (ABMS), as well as internet, mobile and telephone banking, and specialized sales teams. Scotiabank also provides an alternative self-directed banking solution to 1.9 million Tangerine customers through internet, mobile and telephone banking.
Canadian Banking is comprised of the following areas:
Retail and Small Business Banking provides financial advice, solutions and day-to-day banking products, including debit cards, deposit accounts, credit cards, investments, mortgages, loans, and related creditor insurance products, to individuals and small businesses.

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", must be done ASAP. This does not always gel well with the banking world as we must follow compliance protocols, submit documentation, and, unfortunately, sometimes there is simply nothing we can do to speed up the process. It is also sometimes difficult to deal with clients who have false sense of entitlement. Holds must be removed, fees reversed, and backs bent over backwards to accommodate clients who simply show us no courtesy.  I have no problem going above and beyond for our clients - its a part of my job - however it is difficult to summon the strength to fight the internal bureaucracy in order to make exceptions for a client who just wants to throw their weight around.

A typical day at work starts with answering emails and preparing presentations. This initial task sets the tone for the day, ensuring all communications are up-to-date and that any pending presentations are ready for internal reviews or client meetings.

After tackling emails and presentations, I often visit clients. These visits are crucial for maintaining strong relationships and understanding their needs firsthand. It’s an opportunity to gather insights and provide personalized solutions, enhancing client satisfaction.

Throughout my journey, I’ve learned a great deal, particularly in writing Requests for Proposals (RFPs). Crafting RFPs requires a clear understanding of client requirements, meticulous attention to detail, and the ability to present compelling proposals. This skill has been essential in securing new business and fostering growth.

Management experiences have varied, as it all depends on the people. I've had the opportunity to work with both exceptional managers who inspire and support, as well as those who present more challenges. Each experience has contributed to my growth, teaching me how to navigate different management styles and build resilience.

The workplace culture can be a blend of collaboration and competition. On one hand, there are moments of incredible teamwork where colleagues come together to achieve common goals. On the other hand, there can be a competitive edge that drives everyone to perform at their best. Balancing these dynamics is key to thriving in this environment.

The hardest part of the job is undoubtedly the long hours. Whether it's finalizing a presentation, preparing for a client meeting, or diving deep into financial analysis, the demands can be intense. However, the dedication and hard work are often rewarded in the end.

The most enjoyable part of the job is seeing happy clients. There is a deep sense of satisfaction that comes from knowing that the solutions and services we provide genuinely make a difference. Client satisfaction is a powerful motivator and a highlight of my role.

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 every ounce of energy and  money out of your employees by overworking them and belittling them. Happy employees will work harder, and do better work. When all your employees are miserable, everyone does the bare minimum and people start to leave en masse.

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 operational requirements and differentiation has become complicated. Hence, during my time Scotia I have seen and been part of huge improvements.

The enjoyable part of the job is that I feel I have earned my living successfully and rightfully every day. I have been given an opportunity to create a difference every day.

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