Scotiabank Assessments

Prepare for the Scotiabank recruitment process with tailor-made practice materials.

Careers at Scotiabank

With a history dating back to 1832, Scotiabank has established itself as one of Canada's Big Five banks, as well as a leading provider of financial services to its international customer base.

Its products span personal, private, commercial, corporate and investment banking, wealth management, and capital markets - and there are over 90,000 Scotiabank employees working across the globe.

For finance students, the bank offers co-op placements and internships in all its core business functions, including but not limited to:

  • Digital banking
  • Corporate banking
  • Equity research
  • Accounting, audit and finance
  • Wealth management
  • Investment banking
  • International banking

Finance graduates are encouraged to apply to Scotiabank's graduate development programmes, available in:

  • Commercial banking
  • Strategic functions
  • Investment specialist
  • Global operations
  • Women in leadership
  • Technology
  • Global capital markets

The bank also runs a rolling intake for analyst and associate posts in both investment banking and wealth management.

In all cases, applicants are required to complete several stages of selection and should prepare for a competitive process.

Scotiabank Application Process

Scotiabank looks to hire candidates with the greatest promise and has designed an application process that helps to identify future potential.

Your qualifications and experience will of course be taken into consideration, but you'll also need to achieve a competitive score in Scotiabank's psychometric assessments, and put in a strong interview performance.

Scotiabank Online Application

To apply, you'll need to create an online profile using Scotiabank's career portal. Here you'll be asked to fill out basic details, upload your resume, provide references, and answer some initial screening questions.

Be sure to tailor your answers to the role you're applying for, and make reference where possible to Scotiabank's core values of respect, integrity, passion and accountability.

You'll be informed once your application is received, and can keep track of its progress through your online profile, though you will be contacted directly should you successfully pass to the next stage.

Scotiabank Preliminary Interview

If your application is considered a strong one, the hiring team will contact you to arrange a short preliminary interview. This may be done over the phone or via a virtual platform, and will typically last no more than half an hour.

The primary purpose of this screening interview is for Scotiabank to find out more about your skills, experience and motivations - so be prepared to answer questions that expand on your resume, and to explain what appeals to you about the opportunity on offer. It's also a chance for you to ask any questions you may have of your own.

If you're a bilingual applicant (and this is relevant to the role you've applied for) there's a good chance this interview will be conducted in your second language.

Scotiabank Aptitude Tests

For applicants that pass the preliminary interview, Scotiabank administers psychometric assessments. These are designed to further determine suitability by measuring natural aptitude and behavioural tendencies.

These assessments may be taken online or at an on-site location, and in almost all cases include a numerical reasoning test and a personality assessment.

Scotiabank Numerical Reasoning Test

The numerical reasoning test looks at your natural aptitude for dealing with numerical information. Through a series of multiple choice questions, you'll be tasked with evaluating, interpreting, and drawing conclusions from sets of data.

Questions will focus around tables, charts and graphs, much like those you'd be working with on a daily basis if offered the role. The test is also timed, giving Scotiabank an indication of how well you're able to apply core skills under pressure.

Practice is key to performing well in a numerical reasoning test, particularly if you're unfamiliar with this type of assessment, so be sure to take plenty of practice tests beforehand. Though not a maths test, you will need to apply knowledge of basic algebra and mathematical concepts, so it's wise to brush up on these too.

Scotiabank Personality Assessment

In addition to your talent for working with numbers, Scotiabank also wants to know that you're a good fit for the culture of the organisation and will prove a valuable team member. For this, it uses a personality assessment that evaluates things like your core values, working style and social preferences.

As with the numerical reasoning test, questions are multiple choice, but here there are no right or wrong answers - it's all about your own qualities, beliefs and behaviours. Be honest with your responses to give the hiring team a realistic representation of your personality.

Scotiabank In-Person Interview

For the final part of selection, you'll be invited to a face to face interview. This is your last opportunity to make a strong impression so be sure to focus on interview prep.

You'll be asked plenty of competency based questions, where you'll need to explain how you applied your skills to solve a problem. Use the STAR technique here to put forward a situation, task, action and result.

You should also have some of your own questions planned, and work on key interview techniques like eye-contact and body language.

Scotiabank Background Checks

If you're successful in your application, Scotiabank will complete some background screening checks to ensure you fully satisfy all relevant requirements.

This includes contacting references and verifying academic achievements, work experience and employment eligibility. Once complete, your official job offer will be made.

Sample Scotiabank Assessments question Test your knowledge!

Score: /5

If a client invests in a fixed-term deposit with an annual interest rate of 4% and decides to reinvest the interest into the deposit each year, how much interest, in dollars, will have been earned by the end of two years on an initial investment of $5,000?

  • $200
  • $208
  • $204
  • $210

A financial advisor reviews the performance of two stocks over the past year. Stock A started the year at $500 per share and saw a 20% increase by year-end. Stock B started at $400 and saw a 30% increase. What is the difference in their year-end values?

  • $20
  • $60
  • $100
  • $140
  • $180

A portfolio manager is looking at the quarter-over-quarter growth of an investment portfolio. If the portfolio grew by 8% in the first quarter and by 5% in the second quarter, what is the total growth over the half-year period?

  • 13%
  • 13.4%
  • 14%
  • 14.5%

A savings account has an annual interest rate of 2%, compounded quarterly. If a customer deposits $10,000, what will be the total value of the savings after one year?

  • $10,202
  • $10,204
  • $10,208
  • $10,200

During a fiscal year, a bank lends out $1 million in loans and sees a default rate of 2%. Assuming the rest of the loans are paid in full, how much does the bank lose in defaults?

  • $20,000
  • $18,000
  • $22,000
  • $25,000

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Scotiabank Assessments Tips

Know Your Bank Basics

Scotiabank is steeped in years of financial heritage. Make sure you're familiar with basic banking concepts and how they apply within a historical context. Understanding the bank's history could provide insightful context during the test.

Practice Financial Problem-Solving

Preparing for Scotiabank's application process? Spend time on practice exams that challenge your financial analytical skills. The real deal could include similar problem-solving scenarios, so hone that aspect of your expertise with Fintest's tailored exercises.

Stay Updated on Global Economics

As a global financial institution, Scotiabank values applicants who are current on economic trends. Use resources at Fintest to assess and build your knowledge of how global events influence finance.

Simulate the Test Environment

Build your test-taking stamina by creating an environment similar to the one you'll experience during the actual exam. Limit your distractions, set a timer, and take full-length practice tests available at Fintest to simulate the real experience.

Review and Reflect on Your Practice Tests

Don't just practice, learn from it. After each test on Fintest, take the time to go over your answers, understand any mistakes, and adapt your strategies for next time. This review process is crucial for improvement.

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Scotiabank Assessments FAQs

What are the stages of being hired at Scotiabank?

Scotiabank uses multiple stages to assess candidates including online applications, aptitude tests, and interviews. It is important to prepare for each stage of the hiring process to be successful.

Where can I practice Scotiabank tests for free?

You can practice free Scotiabank test questions to get familiar with the format and improve your test score using our online platform - no credit card required.

How long does it take to hear back from Scotiabank?

Candidates may hear back within a few weeks of submitting their application, while in other cases, it may take longer. Typically, the bank will inform candidates of the next steps in the hiring process, whether it be further interviews or a rejection letter, within a few weeks of completing an interview or assessment. If a candidate has not heard back from the bank after a reasonable period of time, they may wish to follow up with the recruiter or hiring manager to inquire about the status of their application.