Finance committee  Good afternoon. My name is Andrew Pilkington, and I am the executive vice-president for branch banking at TD Bank Group. I was born in the U.K. and have lived and worked in Europe, South America, and, for the last 14 years, Canada. I am proud to say that my family and I are dual

Finance committee  Yes. In terms of the FCAC, I think they're treating all the banks exactly the same way, so there's consistency. Rather than repeat my competitor's words, I'll tell you that the exact same process is going on at TD. In terms of head office and branch banking, in all channels we a

Finance committee  When we look at our front line and how we compensate them, the vast majority of their compensation is their base salary. A relatively small part of their compensation is variable and within that variable component sales targets are one component, but an even more important compon

Finance committee  Yes, we do. We record every call that comes into the phone channel. If there is ever an issue and a customer complains about something, then we can go back and actually listen to that call in its entirety. Every single call is recorded and held indefinitely. We have regular mo

Finance committee  If customers make a complaint about a specific interaction, obviously we'll listen to the call and investigate it. If we feel the employee did not do right by the customer, we'll clearly rectify it with the customer. If the customer is insistent there was an issue, but we feel th

Finance committee  The one who is monitoring the call?

Finance committee  The third party would be an employee. We would have people in the line of business, the phone channel business, whose jobs are to listen to those calls day in and day out, and to coach and train the people who are working on the front line. However, we also have other, as we ca

Finance committee  Absolutely. That's correct.

Finance committee  We, obviously, do not encourage employees to falsify documents. It is not a frequent occurrence. When it does happen and there's an example of forgery taking place, we move quickly to an investigation, and we would terminate that employee forthwith. We would never encourage any u

Finance committee  Our sales targets are really the foundation for advice-based conversations. We're looking for our employees to help Canadians save time, save money, and make money. That's what our employees tell us they want, so we believe that having sales targets encourages our employees to ha

Finance committee  No, I think the member said he wanted an answer from the other two.

Finance committee  It really depends on the circumstances. I visit branches all over—

Finance committee  Absolutely, but it does dep—

Finance committee  Thank you, Mr. Chair. It does depend on the circumstances. If that customer is well known to the teller, if this is a small rural branch where all the clients and employees are very much on first-name terms, then that conversation probably wouldn't happen because they know the c

Finance committee  I think customers have a lot of choice in Canada. It is a highly competitive market, and they can choose to borrow or invest with many different institutions, and many Canadians do. If customers want to consolidate some of their debts or their investments, I think having pre-appr