Career Profile: Business

Banks are a quintessential need in our society. We rely on them for financial advice and security. But who are the people behind the scenes, managing our money? Far from the stereotypical image of the boring banker, today’s banking professionals not only like working with numbers, but they also love to work with people. I was able to learn more about the finance industry through my interview with Katy Mackenzie, manager of personal finance at Scotiabank in Vancouver.

YT: Why did you decide to get into a career in finance?
KM: From an early age, I was interested in banking and finance. During high school and university, I excelled in my math, statistics and finance classes – all of which apply to my job today.

YT: How many years of post-secondary schooling did you complete to get to this stage in your career?
KM: I completed five years at UVic. The business program includes a mandatory co-op program to provide on-job experience. This experience is valuable to a university graduate as you have work experience on your resumé – and a possible employer at graduation.

YT: How did you get into your current position at Scotiabank?
KM: I began a Bachelor of Commerce Degree specializing in International Business at the University of Victoria from 1994 to 1999. When I graduated from UVic, I searched for work and found an internship position with Scotiabank through Career Edge. This year I will have been with Scotiabank for 10 years.

YT: What is your working environment like?
KM: The Scotia Tower is in the heart of the downtown core and financial district. We work in a formal environment as professionals alongside our clientele. Other branches are less formal depending on the market area.

YT: In general, how many people do you assist in a day?
KM: The number of clients I help in a day depends on a number of factors, including interest rates, time of year, market changes and the media reporting about the same. I would estimate I help 10 to 20 customers a day. As the manager of personal banking, I also work with the staff who report to me for training/coaching and other branch/bank staff who need my assistance.

YT: What is the range in salary for a beginner to an advanced employee?
KM: Salary ranges are dependent on location, experience and position. Scotiabank offers its employees a total compensation program including base pay, incentive pay, pension plan and benefits, banking services, paid time off and a wellness strategy, which includes an employee assistance program.

YT: What is the best part of your job?
KM: The best part of my job is the relationships I build with my clients. Enabling your clients to become better off financially and having them refer their co-workers, family and friends is the greatest recognition of a job done well.

YT: How has the recession affected your job specifically?
KM: Scotiabank’s strong risk management culture has guided us through this “financial crisis.” Therefore, the recession has not changed the core of my position or its role and responsibilities. We continue to work with our clients, providing a financial plan and the steps to achieving financial goals. The recession has shone a spotlight on those without a financial plan, its importance and the value of working with an advisor.

YT: What piece of advice would you have wanted to hear before embarking on a career in banking?
KM: Meet everyone you can, build strong relationships and accept all opportunities that come your way.