2010 objectives - scotiabank · 2010 objectives – scotiabank group's balanced scorecard...

2010 Objectives – Scotiabank Group'sBalanced Scorecard

Financial

• Return on equity of 16-20%

• Diluted earnings per share growth of 7-12%

• Long-term shareholder value through

increases in dividends and stock price

appreciation

People

• High levels of employee satisfaction

and engagement

• Diversity of workforce

• Collaboration

Customer

• High levels of customer satisfaction

and loyalty

• Deeper relationships with existing customers

• New customer acquisition

Operational

• Productivity ratio of <58%

• Strong practices in corporate governance

and compliance processes

• Strong capital ratios

• Corporate social responsibility and strong

community involvement

Editor’s note

On the cover…On the heels of Earth Day this cover r epresents Scotiabank’s continual support of our environment.The Scotia Cares section of this edition highlights just some of the many ef forts of ouremployees across the globe to make our world healthy for generations to come.

2010 has, so far, been a challenging year for our colleagues as they deal with theeffects of natural disasters that have impacted their countries. But, as in thepast, Scotiabankers have shown strength as a team and rallied to help colleaguesin Chile and Haiti through their difficult time.

Chile

In late March, Dieter Jentsch, Executive Vice-President, Latin America; Pat Krajewski,Senior Vice-President, International Banking Human Resources; Mike Dervan,Senior Vice-President and Head, Operations and Shared Services; Nolan Miller,Senior Vice-President, International Retail Lending; and Terry Fryett, SeniorVice-President, Global Risk Management, visited Talcahuano and Concepción tomeet with employees and thank them for their courage and dedication to theBank during this difficult time. Employees in Chile expressed their appreciationfor all the Bank and Scotiabankers have done to provide help to the area.

The majority of the branches in Chile are now open and employees are beingsupported by local and Bank programs.

Haiti

The Bank continues to support our Haitian colleagues through the Red Crossand local community services and has established a consistent level of service toour customers. Branch operations continue to improve.

Scotia World Magazine online

We encourage you to visit the magazine online where you will find additionalinformation on some of our articles as well as an extended Scotia Cares section.Scotia World Magazine online can be accessed through HR Passport, under MyCommunities. Employees in international locations can view the magazine onlineon HR Passport, where applicable, or through the IMAC website, under Corporate& Contact Info > Public, Corporate and Government Affairs > Public andCorporate Affairs > Scotia World Magazine. w

Sincerely,

Paula CufreManaging Editor

Keep sending your comments and suggestions to [email protected] – we value your feedback.

2 In Conversation

Brian Porter

4 Collaboration

Crossing borders and business lines

Located in Canada? Access the online version at:

• HR Passport under My Communities; through IntraLink > Scotia Beat > Scotia News Network; or,

• Scotia Navigator homepage under the Employee information link.

Located outside of Canada? Access the online version at:

• HR Passport (where available) or,

• From IMAC under Corporate & Contact Information > Public, Corporate & Government Affairs > Public andCorporate Affairs > Scotia World Magazine.

For additional information on some of the articles in this issue go to:

onlineScotia World Magazine

ScotiaNews

what’sinside 6

6 ViewPoint 2010Engaging employees

8 LeadershipSeries: Building futureleaders

9 Development planningTake initiative

12 ProfileHer Success, Her Way

12 CSR columnScotiabank's global impact

13 Scotia Living WellOral health

1 4 Lead story40th anniversary of Earth Day

1 5 CommunityShave to save

1 6 Community Homes of hope

17 CommunityHelping hands for Haiti

Visit Scotia World Magazineonline for an expanded Scotia Cares section

ScotiaExperience ScotiaCares

14

Contributing Writers: Lori Bianco, Jennifer Corbett, Gail Lambie, Menka Walia

Co-ordination:Jennifer Corbett

Creative Director:Nancy Howard

Design: Jim Kapsalis, Vincenza Thorburn, Sally Yuen

Production: Kelly McCraw

You can contact us by e-mailing [email protected]

or by mailing directly to: Scotia World Magazine, Scotia Plaza,

40 King Street West, Toronto, Ontario M5H 1H1 Transit #37622

For address or distribution changes, please call 416-866-3925 or

fax 416-933-7385.

Managing Editor:Paula Cufre

Telephone: 416-866-4833

Editorial Board:Toni Spooner, Gail Lambie, Chris McAuliffe

10Leading theWayPat Krajewski

Scotia World Magazine is published five times a year in English,

French and Spanish by Corporate Af fairs, and is distributed to all

Scotiabank Group employees worldwide.

Scotia World Magazine is available on HR Passport under

My Communities, on Scotia News Network, which is available

through IntraLink, and on the Scotia Navigator home page

under the Employee Information link. It’s also accessible from

IMAC where available.

All submissions and suggestions are welcomed. If you are

sending a digital photo, please make sur e it is high resolution

(300 dpi at 5” x 7”).

ScotiaWorld April/May 20102

LH Brian, we work in a highly regulatedenvironment and the world of riskmanagement is very complex. Can yougive us an idea of what the two or threemost important parts of your job are?

BP The most important thing we dois make sure that the Bank’s risk-takingactivities are in line with the Bank’srisk appetite. Secondly, we keep ourBoard of Directors apprised ofdevelopments in our risk-takingactivities, how our portfolios areperforming, and what’s going on from aregulatory standpoint. The third isdealing with regulators and seniormanagement regarding what’s going onin the Bank and what importantchanges are taking place. The Bank is avery large and complex place. Being in50 countries means we’re dealing withup to 100 regulators on a global basis,so there’s a lot of moving parts we needto deal with.

LH Your role includes a broad base ofresponsibilities: Global Risk Management,Group Treasury and Strategic Investments.What does a typical day in the office looklike?

BP With so many different things onthe go, I’m not sure what a typical dayis. It could involve anything fromadjudicating a large corporate creditfor one of our large customers, looking

at a potential acquisition, preparingmaterials for our Board of Directors tokeep them up-to-speed on our risk-taking activities, or meeting withregulators on the performance of theBank’s risk-taking activities.

LH Brian, when dealing with ourbusiness lines, how do you and yourleadership team assist them in managingrisk across the entire Bank?

BP In my mind, Global RiskManagement (GRM) has evolved froma gatekeeper role to being a strategicpartner. We work with the businesslines to help them achieve their targetsand goals in any given year. For example, we worked with ScotiaCapital during the credit crisis to de-risk parts of their portfolio. We alsowork with the business lines indeploying shareholders’ capital toachieve consistent and predictableearnings for the Bank.

LH We hear a lot these days about riskappetite, including the fact that it wasrecently added to the Bank’s key strategicpriorities. How should our employees,who work directly with our customers,think about risk appetite?

BP Risk appetite is a term thatScotiabankers are going to hear moreabout going forward. In its simplestform, risk appetite is the alignment of

the Bank’s capital, our risk-takingactivities and our strategy. It’s all aboutbalancing the interests of ourstakeholders. For example, depositorsat the Bank want security and a goodrate; employees want secure jobs andinteresting work; shareholders want aconsistent stream of high-qualityearnings and dividends; and regulatorswant a conservative bank that’scompliant. We take all of thesediffering perspectives, balance themtogether and aim for results that areconsistent and predictable. In summary,that’s what risk appetite is all about.

LH Currently, Scotiabankers incustomer-facing roles are being asked to meet some fairly significant growthobjectives. How do you and your team in GRM help them do that?

BP We are fortunate to have a greatmanagement team with a blend of bothrisk and business line experience.Many of our leaders have spent time inthe field, doing different jobs indifferent countries and geographicareas. We understand what it’s like tobalance the needs of prudent riskmanagement with the pressure thebusiness lines face to meet theirtargets and objectives. So, as withmany things, it’s about striking theright balance.

Brian Porter

Lynn Hampson in conversation with

Lynn Hampson, Area Vice-President, Commercial Banking, Toronto Region caught

up with Brian Porter , Group Head, Risk and T reasury on behalf of Scotia World

Magazine readers to better understand the role of Risk and Treasury and learn how

the units in Brian’s area work with the business lines to ensure the Bank’s success.

LH We have a very strong risk culturein the Bank. Why do you thinkScotiabank is so good at managing risk?

BP Risk management is deeplyembedded in the psyche and DNA ofthe Bank. As Rick Waugh likes to say,“No risk, no bank”. We are in the risk-taking business and it’s a question ofquantifying those risks. We like takingrisk as long as we can measure it,structure it, monitor it, get paid for itand, in some cases, trade it. The key isto balance this with earnings that areconsistent and predictable.

LH Given the spotlight that we nowhave on liquidity, can you talk about yourrole in Group Treasury?

BP You’re going to continue to hearmore about liquidity because capitaland liquidity are really the lifebloodand circulatory system of banks. Tomanage the Bank’s liquidity profileeffectively, we collaborate closely withthe business lines. For example, wespend a lot of time with the leadershipteam in Canadian Banking on theirdeposit strategies because growing ourdeposit base is a key part of ourliquidity strategy going forward.

LH While we all feel that the economyis turning to recovery, there is still somehesitation out there in the businesscommunity. What are the things you stillworry about in the coming year?

BP From an all-Bank perspective, Ithink we’re very fortunate to havethree very strong business lines – ourrevenue and profitability are well-diversified. The second point is that wehave a very strong balance sheet. Byany global standard, we’re extremelywell capitalized. While the economybegins to recover here and elsewhere,asset growth may be somewhat muted,as there tends to be a lag. However, weare confident that recoveries will takehold in different geographic areas andthat robust growth will return.

LH As Group Head of Risk andTreasury, you’re obviously very busy atthe Bank. You also have a busy family lifeand you’re actively involved in thecommunity. How do you make it allwork?

BP Again, it’s all about balance. Ihave a great job – I love it. I’mpassionate about it. I’m also lucky tohave the support of my wife Megan and

our children. With three teenagers,we’re very active with their schools andtheir activities. As a family, we enjoytravelling together and spending timeat our cottage in Nova Scotia.

LH Is there anything else that youwould like to share with the ScotiabankTeam?

BP Sure. I’ve had the good fortune to travel to many places in which theBank operates. Wherever I go –whether it’s Latin America, CentralAmerica, the Middle East or India – I can’t help but come away impressed by the growth prospects for the Bankglobally. We’re blessed to have theplatforms that we do and the greatteam of people that we have. Ourbalance sheet is in very good shape,we’ve got great growth prospects, andwe have strong leadership in place. Thefuture of the Bank looks exceedinglybright. w

April/May 2010 ScotiaWorld 3

ScotiaNew

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Collaboration


and business linesCrossing borders

Strategic partnership leverages sectoral and regional expertise

In May 2009, Scotia Capital and International Banking

partnered to launch the Global Wholesale Banking (GWB)

initiative. Leveraging the extensive client relationships that

International Banking has built around the globe and the

expertise, products and services that Scotia Capital has to offer,

GWB brings these teams together to deliver a globally

consistent level of client service.

“We’ve developed relationships in International Banking with

clients that are similar to those in Scotia Capital,” said Kevin

Clark, Senior Vice-President, Corporate and Commercial Banking,

International Banking. “Our clients around the globe have the

same needs and by working with Scotia Capital, we can ensure

our clients get the same offering of products and expertise

whether they are in Singapore, Chile or Canada.”

Scotia Capital has been developing the product and

sectoral expertise that fits the needs of clients according to the

Bank’s multi-national footprint. “Over the past few years the

Bank has made an investment in developing the industry

expertise that takes our business to a world-class level,” said

Frank Pinon, Managing Director and Head of Emerging

Markets, Western Hemisphere. “This has changed the way we

look at clients and the way they look at us.”

GWB is enhancing the lines of communication between

International Banking and Scotia Capital. By breaking down

barriers and sharing clients across business lines the initiative

embodies the One Team One Goal approach. The recent

agreement to purchase the wholesale banking operation of Royal

Bank of Scotland in Colombia is a good example of this, and will

be managed under the GWB umbrella. Regardless of business line

or location, Scotiabank is one bank. By recognizing this through

initiatives like GWB, the Bank continues to succeed as a premier

multi-national financial institution. w

Delivering innovative mortgage solutions

Among the many changes in the mortgage marketplace in

recent years, the way that homeowners access mortgage

financing has evolved. Record numbers of customers are

requesting the flexibility of non-traditional hours of business or

meetings in their home or office.

Scotiabank is responding to this evolution in client needs

by providing home financing services through collaboration

between three major channels: Branches, National Mortgage

Sales and Scotia Mortgage Authority.

“The size of the mortgage portfolio is so great that even

with record production, no one channel can generate enough

business to cover the annual process costs,” said Robin

Hibberd, Executive Vice-President, Retail Products and

Services, Canadian Banking. “All three channels are equally

important to our overall success.”

The Bank’s multi-channel strategy has been successful,

doubling the Bank’s mortgage business in five years. Each mortgage

channel fills a unique space in the marketplace and draws a

customer base from different segments of the market. Newly

acquired mortgage customers also present a great opportunity for

the cross-sell of other banking products and services.

“With all three of our mortgage origination channels

working together, we can go head-to-head with anything the

competition has to offer,” said Anatol von Hahn, Executive Vice-

President, Personal and Commercial Banking. “The

collaboration and communication between the three

groups has been critical to our success in this area of

our business.” w

“We have the vision, the people, and three strong businesses that

individually, do very well; but together, can achieve so much more than

we thought possible – that’s collaboration.” – Rick Waugh, President and CEO

Collaboration critical for project success

The importance of payroll is something that can be appreciated

by all employees and when the 25 year-old Canadian payroll

system was completely reengineered, collaboration was a key

element in the project’s success.

The two-year, multimillion dollar project involved a team of

more than 150 people from Human Resources, Shared Services,

Information Technology and Solutions, Wealth Management,

and Finance, as well as eight external vendors.

Over the course of the project, the team executed many

activities in parallel to ensure all aspects came together effectively

and on time. “Having the common goal of creating a best-in-class

payroll system kept the team focused and committed,” said

George Hanff, Global Payroll Relationship and Program Manager.

“The team worked together to make the best decisions possible

and, in my view, that represents the highest level of collaboration.”

In addition to developing a payroll solution for Canada, the

reengineering has laid the foundation for global expansion,

increasing the Bank’s ability to have consistent processes and

leverage one technical infrastructure to service multiple locations. w

Share your team’s collaboration storywith Scotia World Magazine. [email protected]


ScotiaNew

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With close to 68,000 employees in some 50 countries around the world, Scotiabank is uniquely

positioned to leverage a vast range of skills and global reach to serve its 14.6 million customers.

More than ever, teams across the Bank are coming together to share expertise and capitalize on

opportunities in different business lines and regions in which the Bank operates. This is a look at a

few of the many collaborative efforts underway across the Bank.

eStore success by the numbers*

• More than 2,900 users registered• Gross sales: more than $2.7 million• More than 31,000 ounces sold

* As at March 2010

Cross-promotion creates results

Scotia iTrade, the Bank’s online investing platform, created a “splash

page” to promote the ScotiaMocatta precious metals eStore.

The page encouraged clients to explore the world of

precious metals by visiting the ScotiaMocatta eStore which was

launched in September 2009, when Scotiabank became the first

Canadian bank to launch a full-service online precious metals

delivery channel.

“The ScotiaMocatta eStore has been highly successful in

enabling us to better serve our customers through an innovative

and secure platform,” says Barry Wainstein, Vice-Chairman and

Deputy Head, Global Capital Markets, and Global Head, Foreign

Exchange and Precious Metals. “Collaborating with Scotia

iTrade allows us to reach out to potential clients within the

Bank network and expand our customer base.”

Moving forward, ScotiaMocatta will look to expand the

eStore service outside of Canada. w

Collaboration is how Scotiabankers makeOne Team, One Goal happen

In the February issue of Scotia World Magazine, weprofiled the enhancements being made to ViewPointincluding the change to measuring employee engagementversus employee satisfaction. In this issue, we’ll take amore detailed look at employee engagement and what itmeans at Scotiabank.

Employee engagement looks at the behaviours andvalues expressed by leaders and employees that allowthem to care about the success and future of theorganization and their role and future with the Bank.“This more comprehensive approach strengthensScotiabank’s commitment to being a global employer ofchoice,” said Sylvia Chrominska, Group Head, GlobalHuman Resources and Communications.

Building a culture of engagement

The enhanced employee survey, with new questions, isbased on the employee engagement framework whichidentifies important drivers and building blocks that shapeemployee engagement, leading to customer loyalty andultimately a successful organization.

The following four drivers or values and behavioursand the nine building blocks that support them, enhanceemployee engagement and reflect an engaged organization.

ScotiaWorld April/May 2010 6

ScotiaExperience

(Top left): Scotiabankers Marinho Orderique Nuñez (left), Customer ServiceRepresentative, and Elton Flores Sayago (right), Service Assistant - Peru.(Top right): (From left) Andrea Douglas, International Senior Operations Officer,Service & Operations; Sunita Ramsook, Inter national Teller; Sharlene Nelson,International Teller from the Jamaican Finance Centre. (Bottom right): (From left)Nancy Cyros, Assistant Manager, Global Employment Strategies; Stan Inglis,Senior Project Manager, HR Systems Solutions and Bastian Patrick Analyst,Total Rewards at Scotia Plaza in Toronto, Ontario. (Bottom Left) Lucrecia SalimBaudrexel, Branch Manager (right) and her team fr om the Lo Barnecheabranch in Santiago, Chile.

Engagingemployees

around the

world

ScotiaExperience


“While we know our employees are highly engaged,these changes will enable us to better understand whatinfluences their level of engagement to help us makeScotiabank an even greater place to work – a place whereemployees are passionate, focused and enthusiastic about their job, their colleagues and Scotiabank,” concludes Chrominska.

Stay tuned for more information about ViewPoint 2010in Scotia World Magazine and Scotia World Express. w

What is engagement?It is the passion and commitment employees have for their

job, coworkers and organization that influences them to

go the extra mile.

Confidence in the Organization’s Future:

• Employees understand organizational goals and aspirations and the

links to their own department strategy.

Confidence in Senior Leadership:

• Employees believe their leaders make sound decisions that are

consistent with Scotiabank Group's values and ethics, set clear

expectations and directions and follow through on short and

long-term commitments.

Promising Future for Me:

• Employees feel valued.

• Employees feel they are important to the success of the

organization and envision a promising future.

BU

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Recognition:

• Employees are content with the recognition they receive.

Respectful Treatment:

• Employees are treated with respect and dignity.

BU

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Work-Life Balance:

• Employees feel their organization supports their efforts to meet their

work and personal demands.

Corporate Responsibility:

• Employees feel the organization contributes to a community

both economically and socially.

BU

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Excited About Work:

• Employees are excited about the work they do.

On-the-job Training:

• Employees are content with the on-the-job training they receive.

BU

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Leaders who Inspire Confidence in

the Future:

Employees are confident when they believe that

their organization and leaders are working in

their best interests, and everyone’s abilities and

motivations are working in the same direction.

Managers who Respect & Recognize Employees:

These key management behaviours influence

employees’ perceptions of manager effectiveness.

The Organization Demonstrates a Genuine

Responsibility to their Employees & Community:

Employees value working for an organization

that is committed to serving others, focused on

the long-term outcomes of their operations, and

treats employees as the assets they are.

Exciting Work They Know How to Do:

Employees are passionate about their career and

look for new ways to excel in their job.

Driver 1

Driver 2

Driver 4

Driver 3


A company to watchThe quality of our leaders and the strength of our talentpool provide Scotiabank with a competitive advantageand enable the Bank to consistently meet our targets andgrow our revenue.

We recently received recognition as a “company towatch” for progress in identifying, fostering and developingleaders within the organization. As the only Canadiancompany recognized in the Hewitt/Fortune Global TopCompanies for Leaders study, we acknowledge a desireto further enhance our processes, while applauding thatwe are on the right track.

Banking on global leadership, an article in the Summer2009 issue of Scotia World Magazine, outlined the importanceof leadership as a key strategic priority for Scotiabank,and how the Bank is building its leadership capability.

Leader profileOver the next few issues, Scotia World Magazine will

provide a more in-depth look at the Leader Profile (located onHR Passport, where available, under Development Planning)and highlight some of the key competencies. Thesecompetencies and behaviours represent the gold standardfor all Scotiabank leaders. The Leader Profile offersemployees a roadmap for the types of skills, experiencesand competencies needed now and in the future.

Within the Leader Profile, there are three core themes– Building for the Future; Building Personal and TeamCapability and Executing Business Plans. In this first article,we’ll focus on Building for the Future and one of the keycompetencies in this grouping, strategic influencing.

Leadership competency: Strategic influencing With stronger emphasis on cross-functional teams to meetthe demands of our increasingly complex and global business,business success relies heavily on strategic influencing.With this skill, leaders must be open to the perspectivesof others, while skillfully finding common ground.

Kevin Clark, Senior Vice-President, Corporate andCommercial Banking, International Banking, is a strongbeliever in the power of strategic influencing. Clark spent18 years in Scotia Capital, where the organizationalstructure is well defined, before moving to InternationalBanking six years ago, where – in a much more complexand fluid structure – he shares responsibility for developingthe business with the country and regional heads.

“I had to learn to focus less on defining and documentingthe reporting relationship and responsibilities, and moreon bringing the team together, creating good workingrelationships and getting things done,” said Clark. “That’swhat matters, and that’s where strategic influencing skillsbecome so important.”

Skill buildingClark says that understanding the strategic vision of

the Bank, the business line and your own role is thefoundation on which influential relationships are built.Working in different roles across business lines, productsand geographies can help develop an awareness of thebigger picture, and how your own priorities align withthose of others. Learning to build a rapport with people,whether it is our colleagues or customers, andunderstanding their different needs, is another excellentway to develop strategic influencing skills.

“Leadership is about the contribution you can maketo your team, your business line and the Bank,” addedClark. “People can be leaders and influential within theorganization, without being people managers. The Bankhas recognized that, and I think that’s why our leadershipstrategy has been so successful.” w

In the next edition of Scotia World Magazine, we will focus on how tobuild personal and team capability. Visit Scotia World Magazine online toview Scotiabank’s Leader Profile.

Building future leadersone competency at a time

Scotiabank Leader Profile

The profile provides the foundation for identifying and

developing leaders at the Bank. It highlights the core

values, leadership competencies and experiences

Scotiabank’s leaders need to execute on business strategies,

and can help both current and aspiring leaders to assess

the areas they should target for further development.

Leadership

Kevin Clark, Senior Vice-President, Corporate and Commercial Banking, International Banking, took

part in a Habitat For Humanity community r ebuilding effort in Panama.

ScotiaExperience


It’s time to create development plans.

Development planning helps employees focus on careergoals and allows the opportunity to assess strengths andidentify areas for development.

Five steps to development planning success

Step 1: Identify goals

Step 2: Assess current skills, competencies

and experiences

Step 3: Generate options

Step 4: Build an action plan

Step 5: Review and follow-up on progress

Detailed descriptions of these steps can be found inthe Employees Quick Reference Guide to DevelopmentPlanning (see Where to find resources sidebar).

A focus on self-assessment

While it’s important to have clear development goals, it’sequally important that employees understand the keyskills or competencies and experiences they alreadypossess. Employees may also want to consider their currentvalues, interests, work style and motivation. All of thesepieces can contribute to the development planning process.

Skill assessment

Employees should identify their current strengths andconsider how those strengths can be leveraged forfuture opportunities.

Ask yourself:

• What skills would I need to learn in order to do mycurrent job better?

• What skills would I need for a future opportunity?

Managers can also help identify employees’strengths and areas for development.

Work experience

In addition to competencies, employees should considertheir work experiences inside and outside the Bank alongwith their greatest accomplishments. These experiences

can include: specialty areas; project implementations;product experience; people management; and industryexperience. They do not need to be entirely workrelated and can include examples such as fundraising orevent planning for a community organization, a volunteerboard position or even coaching a sports team.

The combination of skills or competencies andexperiences provides a more holistic identification ofoverall strengths and can help to highlight keyopportunities for development. w

Where to find resources:

• The Personal Profiler and Quick Reference Guides

can be found in the Development Toolkit on the

Performance Management Website, accessible on

HR Passport (where available) or on International

Learning Centre.

• A complete list of general and leadership

competencies can be found on HR Passport

– Career & Learning Kit (where accessible) or by

accessing the Career Management Resources in

International Learning Centre.

• Additional information on the leadership competencies

and experiences is provided in the Leadership

Commitment document available on the Developing

Our Leaders website which can also be found on

HR Passport or International Learning Centre.

Performance Management

Take initiative with development

planning

Identify goals

Assess currentskills, competencies& experiences

Generate options

Build an

action pla

n

Ideas in Action

Visit Scotia World Magazine online for a list of the latest Ideas in Action award recipients.

Review & follow-up

on progress

SWM: How did you come to work at Scotiabank?

PK: I have been at the Bank for more than 35 years, eventhough it doesn’t feel that long. I came from a small townand I was interested in banking so a friend of mine and Icame to the big city one spring and applied to all four banks.We moved to Toronto in June and the first bank I walkedinto was Scotiabank. One of the ladies who worked in therecruiting area said “Hi. I remember you. Are you ready togo for an interview?” That day, I walked up to the branch onBloor and Yonge streets for an interview and started worktwo days later.

SWM: How did you make your career choices? Did you have a

plan or allow things to happen on their own?

PK: The biggest driver for me has always been to keeplearning. I never had Human Resources in mind but I loveddealing with customers and had planned to work my waythrough all the branch positions to one day become a branchmanager. That was the first real career goal I set and the oneI never achieved.

I wanted to learn as much as I could about banking andalways kept in mind that a career is a long time and thathelped in being open to opportunities that presentedthemselves.

SWM: What was your most significant career decision?

PK: The theme would be taking risks but what impacted mycareer the most was when I took an opportunity with whatwas supposed to be the restructuring of investment, corporateand international banking because it really took me out ofmy comfort zone. The significance of the move to a totally

Spotlighting the careers of

ScotiabankersIn this interview, Pat Krajewski, Senior Vice-President,

International Banking Human Resources, shares her

experiences and insight on career advancement

at Scotiabank.

Interviewwith

PatKrajewski

Senior Vice-President,

International Banking Human Resources


Leading The Way

around the worlddifferent area with the possibility of many opportunitiesled me to do one of the best things I have ever done inmy career which was getting my MBA.

SWM: What is the most satisfying aspect of your curr ent role?

PK: It’s the people. I absolutely love my job and the peoplethat I work with in Canada and internationally. It issuch a fabulous thing to have the opportunity to learnfrom people around the world. There is so much talentout there and it is also a lot of fun.

SWM: What are you most proud of in your career?

PK: In terms of the work, it would be my role in developingand implementing the Leadership Strategy and theBalanced Scorecard. Today, Scotiabank is serious aboutleadership being a top priority. Those are the two mostsignificant pieces where I feel I have really contributedto sustained change within the organization.

If I think about the people side of my career, it is allthe relationships that I have developed over the years,many of which I still have today.

SWM: What is your leadership philosophy?

PK: As a leader I look for the positive. When I lead ateam of people I look at what each team member’sstrengths are and how I can help bring those out andmake them feel confident to do the most they can. Thatis not to say I don’t give them feedback about skillsthey are trying to develop but I believe in focusing onthe positive in everything I do. It makes a real difference.

I am also a huge believer in open communication. Iprobably overcommunicate sometimes. I am really openand I make sure I pass on a lot of information so thatthose around me have some of the context I do to helpthem make better decisions and feel more confident inthe decisions they make.

And you have to be able to have fun.

SWM: How do you maintain a work-life balance? What

are your favourite ways to spend your fr ee time?

PK: To me, work-life balance is about whatever worksfor an individual. I cram a lot of stuff in and that is whatmakes it work for me. I have two teenagers and ahusband so it’s about finding ways to spend time withthem. My son and husband are really involved inhockey so I try to go to as many games as I can becauseI love it. At the end of the day, family is more importantthan anything else.

In addition to family, there is community. I havereconnected with Wilfrid Laurier University where I didmy MBA and am currently a Vice-Chair of their board. Ifeel great about being able to give back to that community.

For myself, I love working out and the escape ofwatching movies. But my real passion is music,especially Rock and Roll. I go to every single concert Ican get to. I have developed a group of concert buddiesthat I have a lot of fun with.

SWM: In your opinion, how can people move forwar d in

their careers? Is there any advice you'd like to pass on

to others?

PK: I think it is most important for people to really takeaccountability for their own careers. Also, don’t beafraid to network. Reach out to others and learn fromthem. It is not always about setting up formal mentorships.There are a lot of talented people that can teach youabout what they do. And definitely take risks. I camefrom a small town to a big city. I filled maternity leavesand contracts where there was no guarantee of a job inthe end. I truly believe that if you perform well and havepassion for what you are doing there will be opportunities. w

For more of Pat Krajewski's interview, visit Scotia WorldMagazine online.

ScotiaExperience


I wanted to learn as much as I could about banking and

always kept in mind that a career is a long time and that helped in being

open to opportunities that presented themselves.”“

Scotiabankers across the globe from El Salvador and Peru, Chileand Singapore and many regions across Canada have submittedstories of successful women. The Her Success, Her Wayrecognition program was launched on March 8, InternationalWomen’s Day and the nomination window closes on May 7.

The program is designed to celebrate Scotiabank womenand the different choices they make which contribute to theirsuccess in life.

“Since the days of our first female tellers, Scotiabank hasbeen a leader in the Advancement of Women, not just in Canadabut globally,” said Brian Toda, Senior Vice-President, GlobalTalent Management. “This year, we wanted to do more thancelebrate International Women’s Day, we wanted to hear fromwomen about what is important to them and how they aremaking it happen.”

Highlighting extraordinary women

Beginning the week of May 10, the review panel, consisting ofSenior Management representatives from across business linesand corporate functions will be reviewing nominations based onpre-determined criteria to select the 24 women, 12 from Canadaand 12 from international locations that will be showcased as partof the program. To review the judging criteria, visitwww.hersuccessherway.com.

“It’s not always about title or status, it’s about what we do tomake ourselves successful in our own eyes,” added Toda. “Wewant to celebrate our Scotiabank women for defining their ownsuccess and having the courage to go after it.” w

New CSR report offers wider scope of Scotiabank’s global impact

To showcase the Scotiabank Group’s Corporate

Social Responsibility (CSR) activities over the past

year and outline priorities going forward, the

2009 CSR report is now available on the Bank’s

newly updated CSR website located at

www.scotiabank.com/csr.

This year’s report offers increased international

content to better represent the multi-national

reach of the Scotiabank Group, including

information on customer satisfaction outside of

Canada and energy consumption data in Peru

and Chile. While readers will notice increased

content focused on these two major markets,

the report will expand coverage of additional

countries each year.

The CSR report also outlines key priorities for

the five areas of focus: corporate governance,

employees, environment, customers and

community.

By providing a more complete snapshot of the

Bank’s multi-national goals, programs and

successes – and reporting clearly and

transparently on its performance – the

Scotiabank Group can continue to earn a

reputation as a leader in CSR among companies

around the globe. w

Kaz FlinnVice-President, Corporate Social Responsibility

CSR


Her Success, Her WayStories of success are pouring in!

?

CSR

Scotia Living WellScotiaExperience


We all know that healthy eating and regular physicalactivity are good for us, but did you know that a healthymouth is equally important? Oral health affects ourphysical, mental and social well-being, influencing theway we speak, socialize and eat. Research shows theremay be a link between oral disease and other healthconcerns, such as diabetes, heart attack and stroke.Practicing good oral health is an important part of ahealthy lifestyle. The following tips will help youmaintain a healthy smile.

Follow the two-for-two rule

Brush your teeth a minimum of two times a day for twominutes each time. Brushing regularly with fluoridetoothpaste is important in removing plaque and bacteriathat may cause cavities and gum disease. Use a softbrush with rounded bristles and replace it every threemonths or earlier if the bristles become worn.

Floss dailyFlossing helps remove plaque where it accumulatesmost – between the teeth. Plaque is the major cause ofgum disease, and if not removed, hardens to becometarter. Tarter can only be removed by professionalcleaning. Your dentist may also recommend rinsing with an antibacterial mouthwash to help prevent gum disease.

Visit your dentist

Regular visits to your dentist for checkups andcleanings are the best way to practice good oral health,ensuring a lifetime of healthy gums and teeth. If oraldiseases go unnoticed, they may lead to more serioushealth problems.

Watch your sweet tooth

Sugar is the main culprit when it comes to dentalconcerns. Limit how much and how often you consumefood and beverages high in sugar. Avoid excessive

snacking between meals, especially, sweet, stickysnacks such as candy. Acidic foods and beverages mayalso cause tooth erosion.

Butt out

Tobacco use can cause stained teeth, bad breath and anincreased risk of gum disease – one of the leadingcauses for tooth loss. Tobacco use can also lead to heartdisease, oral and other types of cancers. If you usetobacco products, ask your dentist or doctor for adviceon how to quit.

Look for warning signs

Check your mouth regularly for signs of gum disease,tooth decay, and oral cancer. If you notice any of thefollowing warning signs, report them to your dentist.

• Gum disease is characterized by red, shiny, puffy,sore or sensitive gums, or bleeding when you brushor floss. Untreated, gum disease may result in toothloss in adults.

• Possible signs of tooth decay include sensitivity tohot, cold, sweetness or pressure.

• Oral cancer is most common at the sides andbottom of your tongue, and floor of your mouth.Warning signs include unexplainable bleeding, opensores that don’t heal, white or red patches, smalllumps, and numbness or tingling.

A healthy smile can last a lifetime, so brush, floss andvisit your dentist regularly. w

The tooth, the whole tooth, and nothing but the

tooth!

ScotiaCaresBuilding vibrant communities


Visit Scotia World Magazine online for an expanded Scotia Cares section

A ll around the world, April 22 marked the 40th

anniversary of Earth Day, an environmental

movement to inspire awareness and appreciation for the

Earth. But for Scotiabankers, Earth Day is every day.

Leading up to the event, employees across the globe got

“down to earth” doing their part for the environment.

The featured events are just a small sample of all the

environmental initiatives Scotiabankers are involved in

every day.

• In Costa Rica, Scotiabankers participated in Clean Up

the World Day (A Limpiar el Mundo), providing logistical

and planning support for the event and helping collect

more than 450 kilograms of waste from parks around

San José.

• Employees from Scotiabank St. Lucia participated in

National Clean-up Day, helping purchase cleaning

supplies for the annual event, as well as walking five

miles of island highways to remove roadside litter.

• In Toronto, Ontario, employees from Global Risk

Management planted 61 trees in an event with

Green Toronto.

• “Green-spirited” employees in Dominican Republic from

the Scotiabank Del Sol I and II branches planted 400

seedlings during a riverside reforestation event.

• In Cusco, Peru, Scotiabankers partnered with local

children to green their surroundings and teach the

importance of a healthy planet and clean water.

Scotiabankers and the young volunteers planted 200

native tree species on the slopes of a lake to help

restore a wetland habitat for migratory birds.

• Scotiabank Dominican Republic created an

environmental protection

committee to develop initiatives

that allow employees to raise

awareness of the environment.

• Scotiabank Panama also created

a CSR and environmental

committee to show their

commitment to the

environment. Their first initiative

involves the elimination of

Styrofoam within the bank. This

campaign will launch on Earth

Day with subsequent activities

planned for the remainder of

the year.

• The Bank has also introduced

eDocs for ScotiaOnline, which

has lowered the amount of

summary and statement papers

printed for customers. w

Scotiabankers celebrate the 40th anniversary of Earth Day

It's always the right time to clean-up

To help you do your part for the environment, the

Corporate Social Responsibility team has developed

a toolkit with information on how to organize a

clean-up in your department. The clean-up is a great

opportunity to clean, de-clutter and redecorate your

personal work space! Information on the Earth Day

toolkit can be found on the ScotiaGreen website for

all Canadian employees. International employees can

ask their HR or CSR representatives about the Earth

Day toolkit to receive more information. w

Helping local communitiesin Nova ScotiaThis winter, Scotiabankers in Halifax, Nova Scotia, braved the chillyweather and flexed their muscles to participate in the Pull ForParker Street challenge, pulling a 38,000 pound fire truck across a 125 foot course. Scotiabank entered five teams, two of which finished in the top four, raising a total of $6,000.

The month of October marked the 214 th birthday of AlexanderKeith, former Canadian politician, brewmaster and ScotiabankDirector. Employees celebrated the day with abash in his honour, raising more than $3,200for the Parker Street Food and Furniture Bank.

For the 29th consecutive year, employeesput their best foot forward to kickoff theCommunity Fundraising Ball Tournament, anevent that celebrates the fundraising efforts ofScotiabankers in the community, who together,raised more than $380,000 in 2009.

At the Pugwash branch, employees raised atotal of $13,730, with the Bank contributing$5,000 for various organizations in the communi-ty. Some of the donation efforts have supportedlocal fire departments, the Pugwash Legion and alocal curling club. w

Special Olympicsreceives boost fromScotiabankersIn the British Virgin Islands, Scotiabankers offered ahelping hand to the Special Olympics British VirginIslands. A cheque for US$1,000 was presented toteam members of the Special Olympics to help buyequipment needed for competition. The SpecialOlympics British Virgin Islands is committed toproviding sports training and athletic competition ina variety of sports for children and adults withintellectual disabilities. w

Shave to SaveScotiabankers in St. Laurent, Quebec, chopped their locksfor the Quebec Breast Cancer Foundation’s Shave to Saveevent. Harout Terzian and Costa Stavriadis, CustomerService Representatives, Sales & Service, volunteered toshave their heads for the second year in a row and thebranch helped raise a total of $6,400 for the organization.The Quebec Breast Cancer Foundation is committed tofunding breast cancer research, promoting breast healththrough education and awareness and supporting peopleaffected by breast cancer. w


ScotiaCaresScotiaCares

Community

(Front row L-R)

Costa Stavriadis and

Harout Terzian,

Customer Service

Representatives at

the St. Laurent

branch, volunteered

to have their heads

shaved to help raise

funds for the

Quebec Breast

Cancer Foundation.

Lynette Smith,

International Branch

Manger, presents

check to the Special

Olympics British Virgin

Islands team.

(Photo top): Al MacAdam (top row second from left), a guest speaker from the National Hockey League,

participated with the SPCG "Sailors" team at the Community Fundraising Ball T ournament.

(Photo bottom): Five teams of Scotiabankers participated in the Pull for Parker Str eet challenge.


Community

Homesof hopeScotiabankers in El Salvador arebringing hope to families in the villageof Catón Melara del Puerto de LaLibertad. Seventy Scotiabankersvolunteered on weekends to help build13 homes for families in the village,which was struck by Hurricane Ida. The team of employees workedtogether with a non-profit organization,Un Techo para mi País, El Salvador (A Roof for my Country, ElSalvador), which is dedicated toimproving the quality of life forfamilies living in poverty through theconstruction of emergency housingand by implementing programs forsocial empowerment. w

Have your(cup)cake andeat it too!In February, Scotiabank hosted Eat My Words, a Toronto-basedcompany committed to helpingthe Stephen Lewis Foundationthrough the sale of delicious anddecorative edibles. Scotiabankersvolunteered to sell more than1,800 cupcakes, 500 cookies and100 chocolate treats, raising morethan $11,000 plus an additional$5,000 of matching funds from theBank. The Stephen LewisFoundation supports community-based organizations working to turn the tide of HIV/AIDS in Africa. Eat My Words will be back at Scotia Plaza treats on May 7. w

Scotiabankers in El Salvador help build homes

for families affected by Hurricane Ida.

Irene Dale, a volunteer with Eat My W ords

sells a cup cake for the Stephen Lewis

Foundation to Scotiabanker Deborah Clark,

Manager, Public Affairs.

around the

groupUrging students to go the distance!

Scotiabank Bahamas is urging students to

go the distance in their partnership with

the Bahamas Association of Athletic

Associations (BAAA) at the annual High

School Track and Field Championships,

where more than 1,200 student-athletes

will compete. The Bank’s sponsorship,

through the Bright Future Program,

provides ongoing support of youth

development and sports in the Bahamas.

Scotiabank began sponsoring the BAAA

in 2008. w


ScotiaCaresCommunity

Sweetdreams oncold nights

In Saint John, New Brunswick,Scotiabankers in the North Endbranch organized a pajama drive insupport of a local organization calledOne Change. More than 100 pairs ofpajamas, along with a cash donation,were presented to the charity, whichhelps provide warm clothing on coldwinter nights to residents in thelocal area. w

Helping hands for Haiti Scotiabankers from the Dominican Republic Auditteam, accompanied by employees from ExecutiveOffice Audit in Toronto, Ontario, lent a helping hand toHaitian children who arrived at the DarioContreras Pediatric Hospital. The group deliveredbackpacks filled with essential toiletries andsupplies to assist the more than 40 Haitianchildren evacuated from Haiti to receive criticalcare after the devastating earthquake. To fill thebackpacks, the team raised funds for essentialitems as well as toys, colouring books andrefreshments for the children, parents andcaregivers who arrived with nothing.

Scotiabanker Rene Li, Credit SolutionsManager, Vancouver, British Columbia, spent two weeksin Haiti, assisting with onsite assessments and the distribution ofblankets, food, tents and other daily essentials.

In Scarborough, Ontario, Scotiabankers pulled together tocollect used clothing to send to Haiti. w

GTB gives back! The Global Transaction Banking (GTB) team in Toronto, Ontario,volunteered an afternoon to help sort through boxes of food items at theHarvest House food bank in North York, instead of going for their teamholiday lunch.Working together,the dedicatedScotiabankerssorted and boxedmore than 4,000pounds of groceries.The GTB team alsovisited a local foodbank in Mississaugato drop off 1,700pounds of food. w

(Photo top): The Dominican Republic Audit

Team, accompanied by Marilyn McNevitts

(right), Vice-President, Caribbean Retail &

Commercial Banking Operations

Audit; Barry Williams (middle),

Senior Audit Manager and

Liam McCabe, Director,

International Operations,

visited the Dario Contreras

Pediatric Hospital in Santo

Domingo to help distribute

supplies.

ScotiaCares

In Toronto, Ontario, the GTB team volunteered at the Harvest

House food bank.

Enthusiastic Scotiabankers helped host anoverflowing crowd of more than 1,100 students,

parents, teachers, community members, officials anddignitaries, in downtown St. Thomas, for the officiallaunch of the U.S. Virgin Islands quarter.

U.S. Virgin Islands Governor, John P. de JonghJr., acknowledged Scotiabank’s stability and commitment tocommunity when he selected Scotiabank as the “Official Bank”for the launch of the U.S. V irgin Islands quarter. It was a greattriumph for Scotiabank V.I., not only as a Bank with a smallU.S. presence, but also because it had earlier in the year beennamed Best Bank in the U.S. V irgin Islands by readers of theVirgin Islands Daily News.

The audience for the official launch at Emancipation Parkwas awash in a sea of red and white as members of a band,students and teachers from the All Saints School proudly woreScotiabank T-shirts specially designed for the occasion. Thelaunch also featured a Scotiabank tent where hundreds of peo-ple eagerly exchanged over US$7,300 in commemorative rollsof quarters.

To help celebrate the historic moment, a commemorativefolder was created and distributed throughout Scotiabankbranches in the state. Attending local dignitaries and Membersof Congress in Washington D.C. were given Scotiabank commemorative folders.

The launch of the quarter and commemorativefolder was also featured on The Today Show andGood Morning America.

Not only did the Bank receive the first mintquarters, but their lasting effect will be the pride of

the association created between Scotiabankemployees and the wider U.S. Virgin Islands community. w

Printed on Rolland ST30, an EcoLogocertified paper , that is manufactur ed inCanada with 30% post-consumer wasteand with biogas energy (an alternative greenenergy source that r educes greenhouse gasemissions that cause global warming).

® Registered trademark of The Bank of Nova Scotia. Scotiabank Gr oup refersto The Bank of Nova Scotia and its Canadian and inter national subsidiaries.

Community

(From left) Lawrence Aqui, International Country Manager & V ice-President, and USVI

Governor John P. de Jongh Jr. attend the official launch of the U.S. V irgin Islands’

commemorative quarter.

Scotiabank U.S. Virgin Islandslaunches ‘cent-sational’ event

2010 objectives - scotiabank · 2010 objectives – scotiabank group's balanced scorecard...

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