Royal Bank of Canada (RBC) yesterday confirmed the closure of the bank's credit card center in Nassau, saying in a press statement that "a thorough review of our credit card operations in The Bahamas" led to the decision to "consolidate" the credit card center in The Bahamas to operations in Trinidad and Tobago.
The statement was issued after word circulated on social media that the center had been closed and rumors circulated that "all the employees" had been "sent home". Guardian Business has learned, however, that employees have been given opportunities to apply for jobs elsewhere within RBC, and if unsuccessful, they will be offered a separation package. The release also spoke to the bank's "journey of continuous improvement", focused on adjusting business priorities to improve financial performance and client experience in key segments to drive sales and revenue growth.
Nathaniel Beneby Jr., managing director, RBC Royal Bank Bahamas, Cayman and Turks & Caicos Islands, said "Like all businesses, we constantly evaluate our operations to ensure we continue to match our services with the needs of our customers and we are fully committed to ensuring a smooth, uninterrupted service to our customers, continuing to meet our clients' expectations.
"We believe the consolidation of the O&SD Credit Card Centre in The Bahamas to the Trinidad and Tobago Card Operations and the Caribbean Contact Centre will position us to provide more convenient and better service to our clients and create greater efficiencies within our operations," he said.
The bank asserted its ongoing commitment to the Caribbean, with Beneby explaining the move. He said, "Cards operations is part of a global business and we continue to seek opportunities to leverage economies of skill, scale and scope. This alignment leverages enterprise expertise and technology to maintain our competitiveness and commitment to help clients thrive and communities prosper."
RBC described a phased exit for card operations from The Bahamas. Effective April 1, 2016, all inbound call center operations will be consolidated with RBC's Client Contact Centre in Trinidad, and effective June 1, 2016, transaction processing will be transitioned to the card center in Trinidad. According to the bank, this closure aligns previous modernization work and will facilitate the standardization of how work is processed across the region.
Beneby said the bank's commitment through the consolidation process is to ensure that the transition is seamless to clients and that affected employees are supported during the change.
"We are working closely with the teams in operations and transformation and in Trinidad and Tobago to ensure that our clients continue to be effectively served in the manner to which they have become accustomed," he said.
The statement said employees whose positions are directly affected by these changes have been notified, and Beneby pledged that the bank is "providing strong support to assist affected employees through this transition".
"As a responsible employer and community leader, we value the contributions of our employees and are committed to treating our employees with respect, dignity and compassion. We will work with all impacted employees to find ways in which we can support their careers going forward, whether within RBC or elsewhere," he added.
Employees of the impacted location had been advised of the changes in various meetings, the statement assured. RBC recently launched RBC Private Banking and Group Banking, a specialized sales team focused on helping its clients achieve their financial goals. The bank claims to be the leading personal retail, commercial, and corporate bank in The Bahamas with nearly 700 employees and 20 branches throughout the country.
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