How This Scotiabank Leader Became Chile’s First Woman CFO in the Banking Sector

By Sarah Walker

Maria Victoria Doberti Dragnic has many favourite stories about her more than 20 years at Scotiabank, but one stands out.

“I started as a contractor at Scotiabank. With my contract coming to an end just as I was preparing to go on maternity leave, I approached my boss to agree on finalizing my work. To my surprise, he offered me a permanent position on the spot. He expressed that he saw the value I brought to team and my potential. I signed the contract and headed home to have my second baby.” Maria Victoria recalls her early days at Scotiabank with a tone of nostalgic gratitude.

Scotiabank’s Commitment to Talent: A Career-Changing Decision

This experience exemplified Scotiabank’s culture of leaders sponsoring talent based solely on merit. By recognizing Maria Victoria’s potential, that leader set a precedent that not only shaped her meteoric rise in the finance industry but also reinforced the Bank’s dedication to fostering excellence. 

Maria Victoria made history twice in her notable career: In 2018, she became the first woman CFO at Scotiabank Chile, marking a significant milestone as the country’s first woman CFO in banking. Her trailblazing journey continued in 2022 when she was promoted to Senior Vice President (SVP) and Chief Financial Officer (CFO) for International Banking at Scotiabank, overseeing the entire business line function across more than 15 countries.

Building Teams and Cultivating Success

“When I joined Scotiabank, I found a culture that valued diversity and empowered its employees to succeed,” Maria Victoria shares. “It reminded me that no leader is successful solely on their own. It’s also about how the leader engages and gives purpose to the team.”

She speaks candidly about her leadership style, which emphasizes listening first and acting second. “First, it is crucial to cascade the strategy to the team and gather their perspectives, including what inspires them and how they plan to achieve the objectives. Secondly, set up area priorities with their collective feedback. This approach makes the goals more effective and meaningful, helping the team feel accountable and enabling their success.”

 Balancing Life and Leadership

Maria Victoria is a strong advocate for work-life balance. For her, “Balance is essential for maintaining overall well-being and productivity. It is crucial to take time off, whether on weekends or vacations, to decompress and recharge. This time allows us to connect with family, friends, and most importantly, ourselves. Taking care of ourselves and our mental health is essential to maintaining the energy and focus needed to support others effectively.”

She also encourages others to think big in their careers, believing that perseverance and authenticity are key. “My career is the result of hard work, bold decisions, and a commitment to never stop learning,” Maria Victoria shares. “I’ve lived in Chile and Canada, and now I can see how much my world has expanded. The way we think and interact with the world changes when we embrace these professional opportunities.”

One such bold opportunity came in 2018, when Maria Victoria oversaw Scotiabank’s acquisition of the financial institution BBVA Chile — one of the Bank’s largest transactions in the country. The deal was completed in record time and earned Scotiabank two Euromoney Awards for Excellence in 2020: Latin America’s Best Bank Transformation and Chile’s Best Bank. It stands as one of the proudest moments in her career, showcasing the power of seizing transformative opportunities on a global scale.

Challenges and the Importance of Self-Belief

Maria Victoria’s journey hasn’t always been smooth. Throughout her career, she has frequently been the only woman in the room, which was more usual before than now.

These experiences have shaped her awareness. “A senior leader pointed out that women rarely apply for jobs unless they believe they fit 100 per cent of the qualifications,” she recalls with a smile. “This phrase marked me and struck me deeply, as I experienced that myself early in my career. I learned from it that risks will always be there, there will always be challenges, but the only thing that will positively mark your path, that will differentiate you, that will bring you success and that will make you shine brightly and feel fulfilled, is being yourself.”

“Knowing what drives you is essential to living up to your potential,” she believes. “This is what is going to allow you to say, ‘I like what I do.’”

Mentorship has also played a crucial role in her career. Maria Victoria reflects fondly on her mentors. “They’ve pushed me to take risks and step into roles I wasn’t sure I was ready for,” she says. “They’ve also taught me the value of vulnerability, the importance of asking for help, and the power of collaboration.”

Through their guidance, Maria Victoria learned not only how to navigate her career but also how to embrace a deeper, often overlooked strength — vulnerability. 

“We’ve been taught to avoid showing vulnerability, but it’s critical,” Maria Victoria advises. “There’s joy in not knowing everything — it motivates you to think out of the box, to pick up a book, to search for something new, and most importantly to ask questions and interact with your colleagues, hear their opinions and to find a way to help each other grow.” 

Equally important to her is mentoring others. “Seeing my team and people I have mentored step out of their comfort zone and grow in the careers, is one of the things that I truly value,” she says. “To succeed and excel, you just need to be yourself and support one another.”