Veikko, Associate Strategy at Scotiabank: Advize Career Interview

A career in strategy at Scotiabank offers a dynamic, project-based experience, much like working at a consulting firm.

The work involves developing short and long-term strategic plans, leading cost-reduction initiatives, and collaborating with diverse teams. A strong analytical foundation, excellent communication skills, and a hands-on approach are crucial.

The role provides variety, working on initiatives ranging from cost efficiency to revenue generation and cultural improvements.

While translating financial information to non-finance colleagues presents a challenge, the positive societal impact of Scotiabank's work and its supportive culture are significant rewards.

The ideal candidate is mission-driven, energetic, and resilient, with a desire for continuous improvement.

Entry-level opportunities exist in various areas, including sales, product management, and technology, so careful consideration of work-life balance and long-term goals is recommended.

The interviewee's career journey, starting with accounting and private equity, illustrates the diverse paths leading to a fulfilling strategy career.

Advizer Information

Name

Job Title

Company

Undergrad

Grad Programs

Majors

Industries

Job Functions

Traits

Veikko Petrozzi

Associate Strategy

Scotiabank

Universidad de Lima - 2011 (Peru)

UCLA Anderson School of Management

Accounting

Finance (Banking, Fintech, Investing)

Finance

International Student

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Career Path Of An Associate Strategy At Scotiabank

Veikko's career journey began with a year and a half in a UI accounting firm, focusing on tax, followed by four years as a financial analyst and internal consultant at a private equity firm, where they "look[ed] for new companies to buy." This experience transitioned into four years in strategy at Scotiabank in South America before pursuing an MBA, culminating in a finance internship at an ambient biotech company.

Career Path Of An Associate Strategy At Scotiabank

Main Responsibilities Of An Associate Strategy At Scotiabank

As a Strategy Associate at Scotiabank, Veikko's responsibilities included developing "short and long-run" strategic plans— encompassing one- to two-year and five- to ten-year goals—and leading "cost reduction initiatives" through internal consulting projects to improve operational efficiency and profitability. This involved significant research and collaboration with various bank stakeholders.

Main Responsibilities Of An Associate Strategy At Scotiabank

A Day In The Life Of An Associate Strategy At Scotiabank

Veikko's role as an Associate Strategy at Scotiabank involves a dynamic, project-based workload, meaning "each day or each week will be very different." A typical day might involve reviewing project status, determining next steps ("what is left to do"), and taking action, with the specifics varying greatly depending on the project phase and nature.

A Day In The Life Of An Associate Strategy At Scotiabank

Most Important Skills For an Associate Strategy at Scotiabank

Veikko, an Associate Strategy professional at Scotiabank, emphasizes that strong analytical skills, including "decompos[ing] the problem in Sparks and understand[ing] the relation between" different aspects, are crucial. Beyond this, effective communication, adaptable to various audiences from "peers...to the CEO," and a hands-on approach, willing to engage in "dirty work," are also essential for success in their strategic role.

Most Important Skills For an Associate Strategy at Scotiabank

Favorite Parts Of Being An Associate Strategy At Scotiabank

Veikko, an Associate Strategist at Scotiabank, most enjoys the "variety" in their project-based role, working on diverse initiatives from cost efficiency to revenue increase and cultural improvements. This is coupled with the collaborative nature of their work, "working in teams and cross-functional teams," interacting with people from various backgrounds and perspectives.

Favorite Parts Of Being An Associate Strategy At Scotiabank

Biggest Challenges Faced By An Associate Strategy At Scotiabank

Veikko, an Associate Strategist at Scotiabank with an accounting background, identifies the biggest challenge in their role as "translating financial information" to non-finance colleagues. This difficulty stems from the need to ensure that excellent work is effectively communicated and understood, highlighting the critical importance of clear communication in a strategic role.

Biggest Challenges Faced By An Associate Strategy At Scotiabank

Favorite Parts Of Working In The Banking Industry As A Scotiabank Associate Strategy

Veikko enjoys the positive societal impact of Scotiabank, citing "the multiplier effect of what the bank does," such as loans transforming lives in Peru. This, coupled with the bank's "very nice" internal culture and employee benefits, makes it a rewarding place to work.

Favorite Parts Of Working In The Banking Industry As A Scotiabank Associate Strategy

What Type Of Person Thrives In The Financial Services Industry, According To An Associate Strategy At Scotiabank

Scotiabank Associate Strategy Veikko identifies "mission-driven," "energetic," and "transformational" individuals as thriving in the industry, highlighting a desire to "change the status quo" and continuously improve, even when things are already "doing okay." Resilience is also cited as a key characteristic among successful colleagues at Scotiabank.

What Type Of Person Thrives In The Financial Services Industry, According To An Associate Strategy At Scotiabank

What An Associate Strategy At Scotiabank Wishes They Knew Before Financial Services

Veikko, an Associate Strategy professional at Scotiabank, discovered their role is heavily project-based, like "having a McKinsey guy in an organization," a fact they wish they'd known beforehand. This consulting-like nature of the work, unexpectedly impactful and interesting, significantly shaped their experience.

What An Associate Strategy At Scotiabank Wishes They Knew Before Financial Services

Entry-Level Positions For Aspiring Associate Strategists At Scotiabank

Scotiabank's Associate Strategy, Veikko, suggests undergraduate students seeking entry-level banking positions consider "what type of work life balance do you want?" and "how do you see yourself in five years?" to guide their choices, highlighting diverse roles like sales, where "you don't need an MBA," and emerging opportunities in product management and tech within a transforming industry.

Entry-Level Positions For Aspiring Associate Strategists At Scotiabank

Significant Career Lesson From An Associate Strategy At Scotiabank

Veikko's significant career lesson, learned over 10 years, is that "nothing is that important," even during challenging times like job loss or economic crises; this perspective shift allows for a better work-life balance and less stress, making the experience ultimately more fulfilling.

Significant Career Lesson From An Associate Strategy At Scotiabank

College Experiences That Helped an Associate Strategy at Scotiabank Succeed

Veikko's success stems from a strong academic foundation, emphasizing that "good grades reinforce self-esteem," coupled with proactive networking and seizing opportunities. They highlight the importance of building relationships, stating that "making friends... you never know," as these connections can unexpectedly benefit a career trajectory, advocating for taking calculated leaps of faith instead of overthinking decisions.

College Experiences That Helped an Associate Strategy at Scotiabank Succeed

Advizer Personal Links

https://www.linkedin.com/in/veikkopetrozzi/