Gold Sponsor Gender Equality Profile
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of $896 billion (as at October 31, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS).
A culture of inclusion is the foundation of our Scotiabank global community. We’ve recognized that we need to work together to help make gender inclusion an integral part of how we run our company and serve our customers! As Canada’s international bank, we have an amazing opportunity to demonstrate our values of respect, integrity, passion and accountability, while amplifying the voices of women both inside and outside the organization.
To move the dial on gender equity in the workplace, we need to be visible in how we speak up as leaders. Scotiabank’s leaders are critical in driving change and fostering an inclusive environment; they set the tone and demonstrate inclusivity in their actions and their teams. We have many leaders in the Bank and across the globe who are advocates of gender inclusion.
We believe everyone deserves the opportunity to develop and advance in their careers. We also realize that while great progress has been made, women may still face added challenges, particularly in different parts of the world.
Latin America is a complex market both economically and culturally – a market that still values traditional gender roles. In early 2016, we realized women in LatAm held few management roles. These female executives, though excellent role models for their colleagues, needed more opportunities in their roles, such as more diversity at the table and more exposure to influential leaders outside their home countries. By recognizing the need to improve, we responded with a multidimensional approach to drive long lasting change. True gender equality requires an inclusive approach that recognizes the role of men and women, as partners for women’s rights.
As a result, we established an International Inclusion Council comprised of eight influential SVPs and VPs to keep diversity and inclusion a priority throughout the year. We hosted the first ever Power Of Inclusion panel where three LatAm Country Heads spoke candidly to over 300 employees in person and simultaneously through international webcasts, about the importance of gender equity and actions they are taking to address the cultural-gender gap.
From implementing monthly women’s breakfasts with the CEO, instituting gender equity practices in recruitment, and role modeling flexible work schedules, our senior leaders are taking tangible and visible action and calling on others to do the same. Embedding diversity and inclusion in key HR processes such as leadership readiness and succession planning, is a priority. Our development programs promote open and honest dialogue around gender barriers and unconscious biases.
Last September, International Banking launched its first ever LatAm VP Women Leadership Summit, bringing together 15 VP women for a week of workshops on leadership presence, effective coaching, and strategic planning and included over 12 hours of dedicated training. These VP women, with diverse experiences ranging from contact centres and HR to risk, finance, technology and operations, returned home as empowered Change Agents for inclusion, with tangible tools and practices to manage their own development and high performance, and that of their teams.
Underpinning these actions are an introductory workshop on Unconscious Bias, and the bank’s internal “HeforShe” and “SheforShe” movements, which are committed to advancing gender inclusion through challenging gender biases, taking action and reaching others. Champions of these grass roots movements make gender inclusion a priority with an agenda to raise visible leadership, amplify women’s voices and drive change. Being a champion means showing tangible actions, reaching others and communicating progress.
We are proud that in 2016 we exceeded the all-bank objective of 30% VP+ women representation.
Women are vital to our success and we will continue to support their careers because Inclusion makes us stronger!
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