Israel
Becki Patterson, Business Writer
Israel is an unusual name in Jamaica, what is your genealogy?
We've done some research and discovered that my grandfather may have been raised by a Jewish family and adopted the name Israel. My family is from Clarendon, but I have heard of some Israels in Portland and St Mary, but yes, Israel is not a common name in Jamaica.
Are you married, do you have children?
I am divorced and have a wonderful son, Kris-Anthony, 24, who lives in Toronto, Canada. He recently graduated from the University of Toronto with a degree in mathematics and economics, and will be pursuing further studies in business or real-estate development. Despite my wish that he would return home at this time, I have given him wings to find his passion, and, as he reminds me, "Time to let go, Mom".
What is your vision for RBTT?
With the merger of RBTT and RBC Caribbean, we will become the leading financial services group in the Caribbean.
My vision for RBTT Jamaica - a vision which is shared by senior management and staff - is to aggressively narrow the gap between our distant third position in the commercial banking sector and the position held by the two majors, BNSJ and NCB.
We will narrow the gap in customer/market share, customer satisfaction and loyalty, revenue growth and profitability, efficiency, risk management, corporate social responsibility, and we will become the employer of choice in a learning environment that is non-threatening and conducive to advanced development and growth.
We will build on our strong, loyal customer base and use the inside-out service strategy as a stimulus to reinforce internal excellence, and transport this internal quality experience to our external customers.
Our interaction with our customers will be guided by a comprehensive set of service standards that addresses every moment that we have an opportunity to shape our customers' experiences into memorable ones.
In fact, these standards are a part of a soon-to-be launched initiative called 'Moments'.
We will win by abiding by the basic principles that guide our lives - 'commitment to teamwork, ongoing drive for excellence, respect for the individual, and ethical conduct and integrity' - our CORE values.
How do you plan to engage people?
My strength is in service and relationship management, and I have taken the time to reacquaint myself with our customers and prospects to determine their banking-services needs.
In addition to visits and meetings with focus groups, corporate clients, centres of influence, and public-sector officials, we have implemented a programme where each branch is visited by a member of our executive team each week - where we listen to customers and staff suggestions, identify their needs and identify strategic groups, to provide the right solutions.
One customer issue is that banking fees are too high. Are they?
Ongoing communication is critical - with staff and customers. We have a committee that reviews bank charges and interest rates monthly to make sure we are providing value to the customer relationship, while at the same time making sure we are adequately compensated for services.
While the focus has been on bank fees, we should look at the all in cost of providing banking services, example, there are delivery channels provided by banks with little or no cost to their customers, such as telephone and Internet banking, and ATM.
RBTT recognises the need to improve efficiency and delivery to our customers and we are on the right path, because as we speak, the entire banking platform is now being transformed to make the operations of the bank seamless.
This improvement will enhance customer experience and will assist us in the revamping and rolling out of customer-centred products and services more cost efficiently.
Why leave the top bank and career track where your being number one was imminent?
The decision was most difficult based on the strong relationships and opportunities for upward mobility. I began my banking career at Royal Bank Jamaica and then moved to RBC Toronto after graduate school. So I have come full circle.
My decision to accept the offer to lead a talented team of bankers at RBTT Bank Jamaica was a calculated risk but one which would provide the opportunity to be a part of something challenging and exciting.
Having accomplished my vision for Scotiabank Bahamas and exceeding the aggressive targets I established for myself - over 130 per cent growth in profits in three years - and topping the region in profits in 2007, it was opportune to return to Jamaica, to not only lead the bank to achieve outstanding results for customers, employees, and shareholders, but to be an integral part of the community to work to effect positive changes and to assist in nation building.
This is the opportunity RBTT offered me. My banking and leadership skills are portable, and I know the Jamaican market very well.
What lessons are you bringing from more than 15 years at Scotiabank?
Scotiabank, a good place to work, provided avenues for my personal and professional growth, both locally and internationally, having worked in Jamaica, Bahamas and Canada. I was fortunate to have strong mentors such as Winston Barrett, Orville Walker, Bill Clarke, Jim Meek and Pat Minicucci, who recognised my potential and provided the learning environment, while stretching me to excel even above my expectations.
This confirms that good leaders can inspire, coach and groom high-potential officers to grow from good to great. Therefore, as a leader I will continually identify high-potential staff, provide the environment for ongoing learning and development, coach and mentor them, listen to their needs and work to align their personal goals with the organisation's goals.
This is critical to ensure effective succession planning. Having said that, I think a great organisation is one that can groom employees who can move on to lead other entities, and I pay tribute to a great banker, Peter Moses, who is credited for coaching and mentoring many senior bankers in Jamaica. I'll try to follow in his footsteps.
What challenges do you think are specific to female leadership?
Most women leaders know the importance of achieving work-life balance, but many of us fail at actually accomplishing it. Unfortunately, most women bear the brunt of responsibility - raising children, caring for parents, managing the household, bringing home the bacon and oftentimes, cooking it, too. So, achieving the balance is a challenge, and it is the difficulty in being able to achieve this balance that prevents many women from reaching their full potential and happiness.
In order to achieve the balance, we should seek to establish working agreements to ensure that we continuously action initiatives to address our physical, emotional, mental, and spiritual well-being.
At RBTT, we are looking at international best practices in this area. We want to be known as the employer of choice.
What is the role of banking in Jamaica and the Caribbean?
The role has changed from plain vanilla deposit-and-loan banking, to one-stop banking - day-to-day operating accounts including savings, chequing accounts, and credit cards, investments, borrowings, and credit protection.
The banking industry contributes significantly to the growth of economies in the region, providing products and services for consumers; micro-, small- and medium-size enterprises, corporations, and governments. Banks are also leveraging services and expertise of regional and international affiliates to provide wealth management, global cash management, capital-market operations, treasury management, et cetera.
We are servicing individuals and corporations throughout their entire life cycles, providing sound financial advice, and managing the risks appropriately while complying with established rules and regulations to ensure safety, stability, trust, and solvency.
What are your thoughts on banking making a return to predominantly Canadian ownership?
The financial industry is truly global, as customers can access financial services across borders much easier than many other products and services. This makes this industry, therefore, even more competitive than many others, and as such, mergers and acquisitions are predominant. There is a strong relationship between Canada and the Caribbean. I think we understand each other with similar culture - Commonwealth, similar laws, we use a lot of Canadian best practices in the industry and this makes for a good fit which is easy for business. The merger of RBTT with RBC will make us the dominant, leading bank in the Caribbean. We will be able to think globally but operate locally, as we are known for in RBTT - entrepreneurship, service and performance.
How will customers benefit from RBTT/RBC's soon-to-be number-one position?
The merger between RBTT Bank and RBC Caribbean is a good strategy. RBTT has expanded so fast across the Caribbean that it now needs that capital base to reach the next level.
Royal Bank of Canada, the largest bank in Canada, has that base and will invest in Jamaica as it, too, sees the future and the potential that this market has. RBTT Bank/RBC will be a force to be reckoned with across the Caribbean.
We will be changing our strategy and will be rebranded to make way for this expanded competitive era where we will be able to underwrite larger transactions for large corporations and governments.
Our entire banking platform is now being transformed to make the operations of the bank seamless, and this improvement will assist us in the revamping and rolling out of customer-centred products and services.
The merger is one for efficiency and revenue enhancement. It is about pooling our expertise and resources; it is about the future, about growing and developing, so we can dominate in this competitive climate.
We do understand that there will be teething pains, but so is any process of birth. And that is what this merger is: Not the end of RBTT but the rebirth of a regional bank, which is bigger, better and stronger.
What drives your success?
Strong core values that I abide by all the time - integrity, honesty, respect for all, ongoing search for excellence, commitment to team work and coaching, my own personal development, listening to my intuition, being focused on my goals and pursuing initiatives to achieve work-life balance.
I am passionate about my work and bring my entire self and energy to the job at hand. Relationship management is very important to me - my friends from 20 years ago are the same ones I have today, and my customers are equally loyal. And, very important, I always leave the ego at home.
beckipatterson@hotmail.com
