Leadership Competency Improvement Focus Paper

This paper focuses on improving the author's leadership competency in results through analyzing Scotiabank's technology innovation. It includes background information on Scotiabank, their decision-making process in technology innovation, and a literature review on leadership and achieving results. The paper also includes a self-reflection section for the author's personal and professional action plan for improvement on this leadership competency.

Running head: DELIVERABLE 3: LEADERSHIP COMPETENCY IMPROVEMENT PAPER
Deliverable 3
Leadership Competency Improvement Focus Paper
Anqi Li
LDRS 697
MA in Leadership Program
Trinity Western University
July 13, 2018

DELIVERABLE 3: LEADERSHIP COMPETENCY IMPROVEMENT PAPER 2
Abstract
This LIP Project will focus on one of the author’s three leadership competencies to work on -
results. Effective leaders make business decisions in order to get end results which serve best
interest of multiple stakeholders including customers, employees, investors and the
organization itself.
In the case study, the author’s goals and objectives is to analyze Scotiabank as a role model
in technology innovation to outperform in Canadian financial industry. The analysis stem
from decision-making process of Scotiabank’s senior management all the way till execution
and evaluation of how improved technology enhance client experience and bring up profits.
The author analyzes Scotiabank’s performance by applying theories learned in LDRS 503,
Results Based Leadership. Selected literature will be reviewed and analyzed in terms of
Dimension 1 (Transformational Servant Leadership Transformational Servant Leadership
Values and Ethics) and Dimension 2 (Higher Ordered Thinking and Analysis). At the end
there will be a self-reflection section for the author’s personal as well as professional action
plan for improvement on this leadership competency.

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Introduction
Results as LC
Based on assessment results of Birkman, GMI and MLQ as well as Dr. Tina Wu’s
advice, the author’s three leadership competencies (LC) to work on are confirmed as
planning & organizing, results and team leadership.
Figure 1. Master of Arts in Leadership Program Competencies, 2013.
In Deliverable 3, results would be the author’s chosen competency for case illustration.
Basically, results demonstrates a leader’s ability to … (Leadership competency framework,
p.23).
Background Information of Scotiabank (2 pages)
The author select Scotiabank’s effort on technology innovation to give a vivid example
of thorough results-based leadership activities. Scotiabank is one of the popular multinational
bank in Canada (Strandberg, 2009). It is considered to be the third largest bank in Canada by
market capitalization and deposits. Scotiabank was incorporated in the year 1832 by the
Legislative Assembly of Nova Scotia in Halifax under the name of “The Bank of Nova

DELIVERABLE 3: LEADERSHIP COMPETENCY IMPROVEMENT PAPER 4
Scotia”. This bank serves near about 25 million of the customers over fifty different
countries all around the globe including Caribbean, North America, Asia, Australia, Central
and South America, Europe and Middle East. It offers a wide range of services and products
comprising of the commercial and personal banking, investment and corporate banking and
wealth management (Green & Peloza, 2014). It trades on the New York Exchanges and
Toronto. It is headquartered in Ontario, Toronto and Canada. This bank has been merged
with many Canadian financial institutions all through these years and has purchased many
other banks internationally. Some of the examples include- amalgamation with the Union
Bank of PEI in the year 1883, the Summerside Bank in 1901, Bank of Ottawa in 1919, Bank
of New Brunswick in 1913, National Bank of Greece in 2005, Banco Sudamericano in 1997,
Banco Colpatria in 1955 and most recently, with the Canadian Tire Financial Services and
the Discount Bank in 2015 (Weber, 2012). There are also many other banks with which
Scotiabank has merged since its establishment. With the same, it is also to note that
Scotiabank has a total of four business lines including International Banking, Canadian
Banking, Global Wealth & Insurance (GWI) and Global Banking & Markets. Scotiabank
also offers an alternative banking solution that is self-directed by means of Tangerine Bank.
The Global Wealth & Insurance is the capital markets and wholesale banking of Scotiabank
that offers a wide range of services and products to institutional, government and corporate
investor clients internationally.
To mention about its branding and corporate sponsorship, it is to state that Scotiabank
is regarded as the title sponsor of Scotiabank Aquatics Center of Guadalajara. It is also the
title sponsor of the event “Pitch for Israel” of Jewish National Fund (Zaichkowsky, 2014).
Furthermore, it is the title sponsor for many of the running events which are the parts of

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Canada Running Series- Half-Marathon & 5k (October), Scotiabank Bluenose Marathon,
Banque Scotia 21k de Montreal + 10k & 5k (April), Scotiabank Toronto
Waterfront Marathon and Scotiabank Vancouver Half-Marathon & 5k Run/Walk (June). It is
also considered to be the official bank of the NHLPA (National Hockey League Players’
Association), NHL (National Hockey League), the NHL Alumni and the CWHL (Canadian
Women’s Hockey League) along with many other girls hockey festivals present all over
Canada. With the same, it is also an official team sponsor of the CCT (Canadian Cricket
Team), Canada’s National T20 Championship, the World Rally Championship's Corona
Rally Mexico etc.
Most recently, in 2011, Scotiabank has acquired about 51% of stakes in Colpatria, the
second largest issuer of the credit cards and the fifth largest bank in Colombia for the tune of
one billion Canadian dollars and stock. Also, in the year 2012, the bank had announced to
acquire ING Direct Canada for 3.13 billion Canadian dollars. Furthermore, in the year 2015,
it had announced that it would be buying the commercial and retail banking operations of the
Citigroup in Costa Rica and Panama as it would increase the client base of Scotiabank in
both the nations from 137,000 to about 387,000 and would also assist in adding up 27 more
branches to the then prevailing 51 branches of it in both the Central American countries.
The Bank has got numerous awards and recognition since its emergence. Some of the
most significant among all are the “Bank of the Year” award in the 2005, 2007, 2008, 2009,
2010 and 2013. It has also acquired the recognition of the “Best Emerging Market Bank” in
the year 2011 as per the Global Finance Magazine (Morrison, Misener & Mock, 2018). Also,
in the year 2014 and 2012, Scotiabank has received the award of the “Best Emerging Market
Bank in Latin America” and “Global Bank of the Year” respectively.

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Goals and Vision
As described in the vision statement of Scotiabank, its vision is to become the leading
brand of marketing companies in the world by the year 2015. They would working with
international clients in order to develop a strong branding strategies for the new and the
prevailing products and services. It would also help in building better relationships through
being best at helping the clients in achieving their financial aspirations and goals (Ladd,
2012). The mission of Scotiabank is to create and design the logos for the Jamaican
companies which are very easily identifiable and are resonate with public. The goal of
Scotiabank is to build a better Bank and to help all its clients to achieve financial
independence and net worth by means of purposeful planning as well as committed savings
by making use of financial plan which would able to turn all their investments into an actual
wealth along with providing insurance coverage.
How did Scotiabank make decision in technology innovation to achieve above results?
Scotiabank has created a new unit known as the Digital Factory in the year 2016 in
order to pursue latest innovation in technology as well as mobile banking (Doherty, 2016).
This unit employ about 350 individuals. It has been created with an intention to bring
together a network of leaders and teams all together in transforming the manner in which the
bank delivers the services to its consumers internationally. More than half of the monthly
interactions of the Canadian with the banks are by means of digital channels- using tablets,
phones and through online banking systems (Osborne, 2012). It is also to note that
Scotiabank has recently doubled its investment in the field of technology to more than 2.1
billion dollars as it responds to nimble the financial technology companies or fintech and a
decreasing demand for all the traditional branch transactions as the customers are

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increasingly doing their banking businesses on smartphones and computers. It is also to
mention that Scotiabank hold the place of one among the Big Six in publicizing the size of its
investments (Poon, 2012). Along with developing technology within the bank, Scotiabank
has also been collaborating with the other outside fintech companies like Sensibill
Incorporations, which is a Toronto based startup business and it offers its customers with
online receipt managing tool.
Literature Review
As per Sun (2012), leadership is all about achieving the results. A good leader is always
focused on changing the things for the betterment and he or she is always concerned with the
future instead of the past. Osland (2013) in this context have stated that the attributed that are
necessary to possess by the leaders are the qualities like the competencies, traits, behaviors,
habits, values, skills, styles, and finally, character. However, it is also to note that while these
attributes are necessary to be possessed by a leader, still they are not the only requirements.
Leaders must also attain the measurable results and this too is important equally. As stated
by Chang and Lee (2013). Leaders illustrate their proposition through assigning a core to
both the attributes as well as the results. For example,
Attributes X Results = Effective leadership
10 5 = 50
5 10 = 50
10 10 = 100
There are a total of four criteria upon which the managers are judged whether or not
he is focused on achieving the intended results and they are- selfless, lasting, strategic and
balanced. Also, Epitropaki et al. (2013) have stated that leaders or the managers should

DELIVERABLE 3: LEADERSHIP COMPETENCY IMPROVEMENT PAPER 8
deliver the results in four different areas and they are- for their investor, for their employees,
for their customers and finally, for their organizations. Each of the mentioned areas requires
their own metrics. For the customers, it is providing the exact value that they want. For the
employees, developing their commitment as well as human capital. For the organization, it is
to create an innovative and learning instinct and for the investors, reducing the costs as well
as to let the businesses grow and develop. Scotiabank has enhanced the diversity,
deployment and the depth of the leadership teams. The leaders of the bank are more
reflective to the employee and customer populations and they are greatly motivated by the
customer-based objectives (Naidoo et al., 2014). Scotiabank has already succeeded in
attracting the leading talents- especially the digital talents. It is to note that about 30% of the
senior leaders of Scotiabank are at present women. It also has a very strong culture of
operating its business ethically while acting with the integrity as well as efficiently managing
their risks. In order to achieve the long term goal of it, which is of establishing a better bank,
the bank is taking significant steps in shifting the elements of its banking culture. It is now
more focused towards its customers and is more performance oriented than ever before. The
evolving team of the bank has been embraced by its efficient leadership teams and is also
resonating powerfully across the Bank. The bank is also providing all its employees with
more efficient technological tools and training opportunities so that they could reach the full
potential. The leaders of the bank assess the results of their changes and implementation and
then decide whether or not they have actually achieved the desired result or not (Fixsen et al.,
2013). They are also supporting and providing necessary tools and implementation for the
purpose of individualized development of all its employees through coaching and on-job

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training along with development and career planning with career aspirations and business
needs.
Furthermore, the critical goal of the Strategic Agenda of the bank is to become more
effective and efficient doing continuous improvements in its customers’ experiences
(Henderson et al., 2016). In order to do so, the leaders of the bank have adopted within them
a continuous improvement mindset. In the present competitive environment, the bank has
made significant progress in regard to continuously embrace the change. For example, the
bank has announced about restricting the charge in order to invest in the process of
strengthening its businesses by means of a series of crucial initiative which would enhance
the operating model as well as respond to the continuously consumer preferences
(Bugailiskis & Rozental, 2012). As because of the fact that the customer preferences and the
digital trends are changing and they are reshaping the utility and role of the branch network
of Scotiabank, therefore, the leaders of the bank are introducing more digital options in order
to ensure that the customers are banking how, when and where they want. They have also
improved the automation and have embraced the disruptive technologies in order to improve
the experiences of the customers and to reduce the cost invests in the advanced analytics in
order to drive the revenues and to optimize the use of funding and capital.
Methodology
In the case study, the author uses secondary sources for analysis. Qualitative method
has played a significant role while statistics of demography, revenue and costs in tables are
provided to give a better understanding of Scotiabank’s efforts in enhancing technology.
Results

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Scotiabank, by means of its Rapid Innovation Labs, is playing one of the most
significant roles in redefining the banking sectors for the digital age. It aims at providing a
personalized and seamless experience to all its retail customers. It has used the agile
methodology in order to deploy the Pega Customer Decision Hub for increasing the speed of
the markets for delivering a contextual Next Based Actions for the Scotia Mobile and Online
channels. It is to note that Pega is one of the most significant part of the Digital
Transformation initiative taken by Scotiabank that aims at upgrading the technology as well
as providing multiple number of channels for the banking services in the format of rapid
delivery. It is also to note that Scotiabank mines the data in order to generate leads. It has
about twenty million customer accounts all over its various different business lines. In order
to achieve more wallet share by means of effective marketing to the prevailing client base,
the challenge of Scotiabank is ensuring that the customers are getting right product and
services at the right time and that too, over the right channel. The bank is also providing all
its employees with more efficient technological tools and training opportunities so that they
could reach the full potential. Earlier, it ran one-off customer campaigns for five to six
campaigns in a year. However, along with the SAS Marketing Optimization, Scotiabank has
increased exponentially the total number of campaigns that it runs every year and this is
helping it in generating more sales. It is also to state their department of customer service has
also been improved to a great extend in these years. They provide an average number of 33
hours of training to each employee. It has been recognized for its significant excellence in the
categories of the complete management and the leadership and customer service strategy by
the Jamaica Customer Service and the Private Sector Organization of Jamaica while being
awarded as the first place holder of larger business-to-consumer category. In the year 2013,

DELIVERABLE 3: LEADERSHIP COMPETENCY IMPROVEMENT PAPER 11
Scotiabank was awarded with the best customer service provider (Global, 2016). Also, in the
year 2013, it had received the Service Excellence Award, which judges different companies
on the basis of international benchmarks like tracking mechanism, complaints logging,
training and capacity building, auditing and monitoring measurement, recognition, rewards
as well as service excellence ambassadors (Brown, 2017). Also, Scotiabank is regarded as
one of the top 5 big banks as per the overall satisfaction Index score ranking of 2015.
Fig 1: Overall satisfaction score
As per the management, one of the strategic pillars of this company is customer focus.
Its main objective is to provide the prevailing customers better services and products. The

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customer focus includes different strategic initiatives at every levels all through the
organization and that comprise of continuous measurement of service delivery and the
positioning of the service champions in every branches who help the entire team in keeping
their focus on the customers, and keeping them well-trained and on the message of high
quality customer experience always (Lemire, 2015). With the same, they also assist them in
the continuous sharing of different tips and strategies by means of various internal
communication channels. Along with this, a healthy recognition and reward system that is
focused on delivering superior customer experience to all the existing as well as the future
customers who are yet to come. At the level of leadership, there are also meetings held on a
regular basis and these meetings assess and measure the customer experiences and finally,
they determines the areas that are needed for further improvements. It is also been
highlighted in their Annual Report of 2015, that the service of Scotiabank promises all its
customers, which is an internal promise that is recited every day and it includes a total of five
commitments they made to their customers, employees, Environment and the employees
(Trudeau & McLarney, 2017). These commitments are:
 Building up of a better future hinges on every success of their customers. By means of
their services and products, they aim at increasing access to the education and financial
services to their customers all around the globe.
 They would build an inclusive environment along with diverse expertise and skills that
are necessary for the success of the bank.
 They would strategically invest their efforts and money in the communities in which they
operate and conduct their business in order to build some opportunities of more number
of people in order to grow and prosper more.

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 They would acting and conducting their business with utmost integrity in order to uphold
and maintain a powerful reputation that would be made through strong and strategic
practices of corporate governance.
 They believe the fact that a prosperous future is always linked with the well-being of the
environment. Hence, they aim at reducing their own environmental footprint as well as
they aim at using their expertise in order to achieve finance solutions for more sustainable
near future.
Over the last 6 years, Scotiabank has been regarded as one of the recipients of a large
range of awards that include the “Highest Customer Service” by the SQM (Service Quality
Management Group) and “World Class Certification by the Industry, won by their Contact
Centre for a total of four respective years (Avtushenko, 2016). Along with this, as a part of
environmental commitment, in February 2018, Scotiabank has pledged its support for the
TCFD (Taskforce for Climate-related Financial Disclosure). With the same, the 20 years of
partnership of Scotiabank with Maple Leaf Sports & Entertainment (MLSE) also provide the
bank with more options and opportunities for giving back to its communities and help the
young people in reaching their full potential (Forbes, 2018) Furthermore, at the Bank, the
management teams are committed at becoming one of the digital leaders in the field of
financial services industry. Being consistent with their aspirations, the annual technology
spend of Scotiabank – that comprise of digital – has grew 14% in the last 2 years, and at
present, it sits at more than 3 billion dollars (Gupta et al., 2016).
Summary of Best Practices

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There is no doubt that the Scotiabank has done an exceptional job in ... Hereby the author
has utilized some key criteria from LDRS 503 to evaluate the best practices which
Scotiabank can achieve, with an in-depth analysis of her uniqueness in results-based
leadership.
Author’s weakness
The author is …
STAR Model
xxxxxx
Recommendations to Improve Competency
Personal Action Plan
An effective and practical action plan will utilize resources including the author’s course
materials as well as experience coming from extracurricular activities. Course materials
include but not limited to textbooks of leadership programs as they address the concept of
TSL and ethical leadership, Leadership integration project manual 2017-2018 and
Leadership competency framework. Extracurricular activities of the author will consist of
part-time job on campus, volunteer experience, business conference and symposium, etc.
The author plans to follow the preset schedule to complete Deliverables 2 to 5 and will
adapt to adjusting deadlines if there is any. She will connect closely with her group members
and advisor for regular communications.
Professional Action Plan
Xxxxxx

DELIVERABLE 3: LEADERSHIP COMPETENCY IMPROVEMENT PAPER 15
Conclusion
Xxxxxx
References

DELIVERABLE 3: LEADERSHIP COMPETENCY IMPROVEMENT PAPER 16
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