What It Does: It offers diverse financial services ranging from wealth management to corporate and investment banking and personal/commercial banking to a global audience.
Mission: Scotiabank aims to deliver superior products and services as a responsible corporate citizen that’ll help it become the number one financial institution for customers, shareholders, and employees.
Size and Presence: Scotiabank currently functions with a workforce of around 90,000 workers in over 2,000 locations worldwide.
Best Known For: Scotiabank is among the top five banks in Canada and offers a wide array of services and works with its employees as teammates.
The good bits: Scotiabank boasts a customer reach in around 30 countries making it an ideal global brand and treats its employees as teammates with everyone valued and respected.
The not-so-good bits: As a global brand with multicultural customers, dealing with customers in Scotiabank could be tricky.
Scotiabank was founded in December 1831 as a product of a meeting between a group of ambitious Halifax businessmen. These businessmen founded the bank with an initial capital of £100,000 and aimed to create a public financial institution.
In 1832, The Bank of Nova Scotia started its operation in the John Romans’ building.
Close to the 20th century, the bank looked to expand its international presence. It began to open branches in Winnipeg in 1882, Minneapolis in 1885, and Chicago around 1892.
At the start of the 20th century, The Bank of Nova Scotia grew even bigger thanks to the amalgamation of other big banks in Canada. These banks were The Bank of New Brunswick, The Metropolitan Bank, and The Bank of Ottawa.
In 1978, The Bank of Nova Scotia changed its global name to Scotiabank and continued to enjoy expansion to Asia and South America.
Today, the bank serves over 23 million customers and boasts a presence in more than 25 countries urged on by its goal “for every future”.
A theme of the way Scotiabank operates and motivates its workforce is its desire to always grow and innovate. Employees at Scotiabank are given a sense of purpose and rewarded for their contributions to continue a cycle of growth, development, and inclusiveness.
Every Scotiabank branch stands by principles of; integrity, respect, passion, and accountability. By holding common principles dear, Scotiabank maintains an award-winning workplace where everyone is supportive and looks to return to work every day.
At Scotiabank, the vibe is bright, fast-paced, and inspiring as the company’s growth is contagious and urges every employee to make every day an opportunity to learn.
The recruitment process at Scotiabank offers graduates and interns an opportunity to innovate, be inspired, and be introduced into a world of possibilities.
There are six steps for recruitment into Scotiabank making the recruitment process straightforward to track.
Graduates and interns begin their search for a role at Scotiabank by creating an application profile where they provide valid details about themselves and their qualifications.
Next candidates are invited for a preliminary interview that’ll help the bank certify the accuracy of the information applicants provided.
After graduates and internship applicants conclude the interview they are required to complete skill assessment tests.
Graduates and interns are then invited for an in-person interview where they demonstrate how they fit into the Bank’s culture and highlight contributions they can make to the organization.
Finally, candidates' applications are screened and references checked before employment offers are made.
Scotiabank claims to place career development at the centre stage in their organization as they aim to make every employee a reflection of the company.
The Scotiabank Accelerator Program provides an exceptional bank of knowledge and experience that help graduates and interns take the next step in their career.
They allow their employees to invest in themselves directly and choose career paths that suit them through professional guidance.
At Scotiabank, the average salary is around $127,780 annually while interns earn around $69,462 annually.
Scotiabank aims to be a responsible corporate citizen in every aspect. They foster social, economic, and environmental development in their workplace and influence communities around them.
They focus on areas of environmental action, economic resilience, inclusive Society and leadership, and governance. They maximize their global reach and workforce to ensure the widespread effects of their goals.
Scotiabank also aims to become net-zero and ensure environmental sustainability by capturing released carbon and planting trees.
As a global financial leader, Scotiabank plays a crucial role in regulating market prices. Allegations were made against Scotia bank in 2016 for benchmark price fixing.
The allegations suggested that Scotiabank had been involved in price fixing since 2004. Scotiabank denied statements about these allegations at the time as they’re being prosecuted for it.