Building an Agile and Innovative Team: Insights from Stephanie Larivière
By Sarah Kelsey
In today’s fast-paced business environment, the ability to innovate on the fly is crucial for success. But how do you cultivate a team that embodies agility and creativity? For Stephanie Larivière, Managing Director & Global Head of Currencies and Commodities Sales & Derivatives Products Group at Scotiabank, the answer lies in diversity.
The Business Case for Diversity
“Diversity is not only the right thing to do for our people, but it’s a good thing to do from a business perspective,” Stephanie asserts. In her view, assembling a team with varied backgrounds and experiences is essential for meeting the needs of a client base that has become increasingly diverse over time. This commitment to diversity serves as the foundation for a forward-thinking team that is well-equipped to deliver innovative banking solutions.
Creating a Psychologically Safe Environment
Stephanie emphasizes the importance of fostering a psychologically safe environment where team members feel empowered to express themselves. “When team members feel okay to challenge themselves, to question how things are being done, or to raise their hands if they’re unsure about something, they can get creative,” she explains. This sense of safety encourages individuals to step out of their comfort zones, which is often where the most groundbreaking ideas emerge.
Embracing Opportunities and Learning
Stephanie’s own career trajectory exemplifies the power of embracing opportunities. With no rigid plan for her future, she has built a successful career in finance and fintech by remaining open to new experiences. “I’m not a tick-the-box type of person,” she says. “When you have a plan, you’re closed off to opportunities.” Instead, she encourages her teams to be open to the unexpected, reminding them that they are often more prepared than they realize.
A Journey Through Finance
Stephanie’s professional journey began with a bachelor’s degree in finance from HEC Montréal, followed by a role at a leading capital markets technology solutions company. She later earned an executive MBA from the Smith School of Business at Queen’s University. Her career has included significant roles at the National Bank of Canada, where she spent 17 years in various senior positions within the Capital Markets Group. In 2021, she joined Scotiabank, where she now oversees advisory and execution services for a diverse range of clients.
Client-Centric Approach
At the core of Stephanie’s philosophy is a deep commitment to client relationships. “What you can’t see in my CV is that I’ve always had a passion for clients,” she shares. Her approach is rooted in understanding clients’ needs and building long-term partnerships rather than engaging in a transactional buyer-seller dynamic. “Stop and listen,” she advises. By taking the time to understand clients’ contexts and identifying their blind spots, she believes that organizations can truly demonstrate their value.
The Importance of Mentorship
Stephanie is also a strong advocate for mentorship, recognizing its transformative power. “I have benefitted from mentorship myself, and I always have time for it,” she states. She views mentorship as a two-way street, where both parties can learn and grow from each other’s experiences. This collaborative approach fosters an environment of continuous learning and development.
Looking to the Future
As she reflects on the future of the workforce, Stephanie expresses excitement about the potential of the next generation. She believes that Gen Z brings a unique skill set and mindset that can drive innovation. “They’re agile, collaborative, and diverse,” she notes, highlighting their ability to approach work with fresh perspectives and innovative ideas that can address society’s most pressing challenges.
Adapting to Change
“The world is changing fast,” Stephanie warns, emphasizing the need for leaders to remain adaptable. She believes that organizations that cling to outdated practices will fall behind. “If you want to stay on top of your game, you need the agility to pivot as conditions change,” she advises. By increasing the diversity of teams—encompassing backgrounds, cultures, education, and experiences—leaders can cultivate an environment ripe for innovation and creativity.
In summary, Stephanie Larivière’s insights reveal that building an agile and innovative team is not just about having the right skills; it’s about fostering an inclusive environment where diverse perspectives are valued, and team members feel empowered to take risks and learn from their experiences. By prioritizing diversity and embracing change, organizations can position themselves for success in an ever-evolving landscape.