I used to work for CIBC...Ask me anything

[Derivative]

"How's your summer going?"
"Good"
"Have any plans?"
"Yeah we are planning some renovations and a trip in the fall."
"Do you have money saved up? Depending on the size of the renovations we could use the equity in your home to finance these activites at prime+0.50 or prime+1 and waive all those pesky setup/legal/appraisal fees as well with the current promotions"

If they want to meet with a FSR or take a phone call from one to go over getting a HELC (even if they don't end up getting it) it counts as a "sale/referral" for a CSR.

That's a dream scenario. I wish the clients I had were like that!!! Downtown our convo would go like this:

"How are you today Mr. Lipshitz"
"I'm fine, 1200 cash, in 50's"
....You gather they don't want your "product" but still need to try and "probe".
"I've noticed that you do have some service charges, it will benefit you if we change you over to the unlimited checking account, that way you can get unlimited transactions and only pay a small monthly fee"
"I didn't come here for a product or financial advice, thanks"...
"It would really only take a minute to set you up with this account, can I refer you over to our account specialist?"
"No, I just came here for my cash, please"
....
The "proper" way of getting a sale/referral is only if you get them INTO an office or if an FSR books an appointment with them and they SHOW UP.
As I said before, our ABM would review our daily sales and anything made up or not accurate wouldn't be accepted.

[Derivative]

IS also handles the large business accounts at most branches as well.

Very few branches have Senior FSRs.

Mostly IS uses the 'special' mutual funds that only IS has access too with the reduce MERs etc via IIS.

Ummm...In TORONTO there are always at least 2-4 Senior FSR's in the big branches. One for small business and one for investments. Our branch had 2 FSR level 2, 3 Senior FSR's, a mortgage specialist, Imperial Service Advisor, ABM, BM, tellers.

[BryceS]

We're supposed to get people in an office for the FSR to do a checking account upgrade, savings accounts, GIC's, Credit cards (that's the big one for us), if you see an opportunity probe for a mortgage. You're not allowed to discuss anything to do with mutual funds or stocks/bonds, even though I am licensed as a registered representative with IIROC but am obviously only working as a teller.

CIBC is the "worst" for tellers having to push products. The district supervisor even said "Your success is determined 80 percent by sales".

These are rough numbers but 2010-2011:

5% VISA popups
15% Overages
20% Shortages
25% BES
35% Referrals

Is what we were based on going by the district leaderboard....where you can see every other employee's numbers and how well they were doing.

I loved it because I was always top 10 but when you're 122/122 I can see how you wouldn't like everyone you work with in the district see your stuff.

[Derivative]

These are rough numbers but 2010-2011:

5% VISA popups
15% Overages
20% Shortages
25% BES
35% Referrals

Is what we were based on going by the district leaderboard....where you can see every other employee's numbers and how well they were doing.

I loved it because I was always top 10 but when you're 122/122 I can see how you wouldn't like everyone you work with in the district see your stuff.

Ya, any shortages = you being fired. You're "allowed" 30 bucks a month but if you're hitting them routinely you will be fired. The only thing that gets you promoted is your sales. Sorry to sound so cynical but it's completely true. I know really hard working tellers that have been in the same role for years because they had average sales but fantastic client service skills.

[BryceS]

Ya, any shortages = you being fired. You're "allowed" 30 bucks a month but if you're hitting them routinely you will be fired. The only thing that gets you promoted is your sales. Sorry to sound so cynical but it's completely true. I know really hard working tellers that have been in the same role for years because they had average sales but fantastic client service skills.

Must be a Toronto thing.

[Derivative]

Must be a Toronto thing.

Ya, I'd definitely like to work for a Caisse Populaire. Much more client satisfaction and less about pushing products down peoples throat. When I go to a bank I go for a reason, not to be hounded with questions and products.

[squishh]

I just have to pipe in about the RBC tellers and the myth about them having no sales targets. I can assure you all from experience that this is absolutely not true. Maybe their targets aren't as hgih as tellers at the other FIs, but the certainly do have sales targets.

[Derivative]

I just have to pipe in about the RBC tellers and the myth about them having no sales targets. I can assure you all from experience that this is absolutely not true. Maybe their targets aren't as hgih as tellers at the other FIs, but the certainly do have sales targets.

you sure? i asked one yesterday at the bank and they said no. they only get ranked on client satisfaction.

[chinaboy1021]

Lol. ****. I can't stand when ppl try to sell me **** all day. I go into RBC, I go withdraw all my cash I just got from a bursary deposit so I can give to my mom. The lady is slow as hell, very calm lady, not aggressive at all (contrary to me). She asks me some "lifestyle/probing" questions. ****. I worked in sales min. wage for YEARS before, same ****. It's like walking into Mcdonalds and the CSR getting me to sit down to show me the benefits of supersizing my fries. Fake ***** bitches. I had to say no thanks like 3 times before getting my cash.

Old couples are the best if you want to get them to buy something. I can see how in downtown it's hard to make sales.

[squishh]

you sure? i asked one yesterday at the bank and they said no. they only get ranked on client satisfaction.

I am 100% positive. Either that teller was lying to you, or her boss is lying to her.

[imflying12]

No problem. I worked there from February 2011 until last week (August 2011).

I never heard of anyone being internally promoted other than going from CSR to FSR but that was after 2 years of working as a CSR (teller). Higher positions were always hired from outside.

How did you get the job? Was it through referral? Did you have relevant work experience or was this with your regular bachelors? Would you say working their as a CSR is worth the time? How do they treat their employees? What made you quit?

[Derivative]

How did you get the job? Was it through referral? Did you have relevant work experience or was this with your regular bachelors? Would you say working their as a CSR is worth the time? How do they treat their employees? What made you quit?

1. How did I get the job? I slept with someone that worked in Capital Markets. She was kind enough to put in a great word for me (lol) and I used her as a referral.
2. I already had a Bachelor's degree (arts) and the Canadian Securities Course completed. I had other work experience in retail, which they actually liked, because any branch-level banking is all just sales. People with a retail/sales or even waiter/waitress background do just fine in a bank.
3. It was not worth the time. Most tellers are pigeon-holed into that position or move up to FSR after a few years. These people stay at branch level (low earning) banking for their careers. In order to get into capital markets etc, you need to have a great education, great references and apply for a role higher than teller. You won't go from teller to ceo.
4. CIBC is well known as the worst bank, especially in how they treat their employees. There are several class action lawsuits right now. We were not paid for overtime, often didn't get lunch breaks and were forced to stand all day, not allowed any stool or anything (this depends on the branch)
5. I quit because 2 people randomly quit one day and we were grossly short-staffed. They would make me come in with no notice and do the job of 3 people. I'd leave everyday with a splitting headache and my manager was a pain in the butt that didn't even have a college diploma or university degree. He's a salesperson and worked at Denny's as a waiter for 6 years.

[shakezula]

Guess I'll throw my hat in the ring here. I worked for CIBC for three years in three different roles:
-PBR @ PCF
-FSA for Business Banking @ CIBC
-Sales Assistant @ Wood Gundy.

Don't mind answering questions since I no longer work there and wouldn't go back for any of the jobs except the FSA. That is the one that most people get into and stay for several years because it's a pretty good position with little to no sales component.

[iEyeCaptain]

You won't go from teller to ceo.

Rick Waugh.

Current CEO of Scotiabank Group.

Source.

[Derivative]

The whole sales component of banking has become really off-putting. Every time I walk into a bank I want to throw up.