Mortgage and Loans Officer (Current Employee), Toronto, ON – May 9, 2014
Pros: some free banking/learning about money and the shares plan
Cons: workload 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
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 – more... 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and procedures, I might have stayed in the entry level role a little longer to get used to the system, which is VERY outdated.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. – less
Financial Advisor (Former Employee), Toronto, ON – August 20, 2015
Pros: Life will no longer seem like it goes by too fast
Cons: Management, long hours, salary, expectations, not appreciated, everything you can think of that would make a job suck
Horrible leadership. Unrealistic expectations and targets. Long hours. Salary is so abysmal that the cleaners (who were contracted from another company) got paid more per hour than I did. After a record-breaking – more... year in profits, management responded by drastically cutting our benefits. Everybody is stressed out all the time, it's not uncommon at all see your fellow coworkers break down into tears or take stress leaves. If anybody is thinking of working for this company, avoid it all costs. Being homeless would probably still be a better lifestyle than being a Scotiabank employee. – less
Customer Service Representative (Former Employee), Montréal, QC – August 18, 2015
Pros: Mostly nice people to work with.
Cons: Salary and risks of hold ups
Very productive as a senior I was always busy. At times too much red tape however in Banking that's usually expected. My favorite part of my job was the research I was asked to conduct when there were issues in customer accounts.
Scotiabank was a very good place to learn about the banking and finanancal industry and move within the company.
Accounts Payable Supervisor (Former Employee), 1 Adelaide St e Toronto Ontario – August 18, 2015
supervised team of eight reviewed and approved payment entries ran daily payment run cheques, EFT and wires submitted weekly metrics submitted monthly reconciliations reports to sr. manager supervising – more... team can be taxing with the different cultures, personalities and life styles. enjoyable part was to see that the work was completed in a timely manner and that my staff was happy and content in their workplace. – less
Prime Services Facilitator (Former Employee), Toronto, ON – August 15, 2015
If you are looking for a relatively stable position with decent pay and good benefits, then head to the bank. Scotiabank is still trying to figure out a work/life balance but depending on the department – more... you are in, you may leave on time at 5pm. Be prepared for many levels (4+) of management and for people who may have less experience to advance before you. Scotiabank is all about networking so be positive, outgoing and you'll do great. – less
Assistant Manager (Current Employee), Toronto – August 10, 2015
Manage information flow of trading activities and provide analysis of P&L and Risk Metrics and investigate and resolve all discrepancies/differences in a timely manner, as required. Ensure risks within portfolios covered are correctly measured, aggregated, and analyzed in accordance with established and approved market risk policies
Assisting customers (Current Employee), Etobicoke, ON – July 21, 2015
Pros: Occasional Free lunch and occasional One hour lunch break
Cons: Asked to do favors by management who does not show appreciation
- Preparing the banks cash for the days use. - I have learned a lot of financial accounts and which would be best for specific types of needs and learned processed a lot faster as I got to perform them – more... more. - Management was not easy to work with, they are not always there to support staff and if something were to go wrong they are quick to shift blame. - The team itself is a pleasure to work with - Interacting with managers who do not support you when they should. - Interacting with the public and learning new things and seeing the customer satisfaction after transaction has been complete. – less
CUSTOMER REPRESENTATIVE/FINANCIAL ADVISOR TRAINEE (Former Employee), Alliston, ON – July 14, 2015
Pros: Good lunches, good coworkers
My time at Scotiabank was a great learning experience learning about the financial industry and the various jobs that come with it. My main focus was customer experience ensuring every customer left satisfied – more... with the service I provided them, whether it was completing a transaction or just answering general inquiries on subjects I was able to educate on. Learned a lot about confidentiality, security, and professionalism. – less
Pros: Friendly staff, working with the public, hours good, acknowledgement of successes.
Cons: very busy, sometimes not enough hours in the day
Started our day off by checking our agenda's and preparing for the day. Then usually followed by a morning staff meeting where we discussed our successes, any unfortunate situations which may of occurred, – more... product knowledge, etc. This helped with motivating our peers and kept us all on top with our product knowledge. Management had an open door concept to ensure their staff, they were always available for any concerns or questions that they may have. Easily interacted with co-workers both on a personal and professional basis. The hardest part of my job was to have to have to decline a customer for a credit product when they did not qualify. The most enjoyable part of my job was the interaction with my clients. – less