COVID-19 has highlighted the need for professionalism and portable skills in banking

That is one of the key takeouts for FINSIA from a special Australian Financial Review banking summit on what the industry is doing to deal with the incredible impact on the economy.
 
CEO Chris Whitehead said FINSIA would continue with its strategy that pre-dates both the current situation and the Royal Commission to professionalise the industry. 
 
The recently-qualified Chartered Banker welcomed comments highlighting the need to equip staff with the skills that lead to both the best business and community outcomes.
 
Those comments made by Financial Services Union national assistant secretary Nathan Rees pointed out that COVID-19 was a “game-changer” for both the sector and economy as a whole.
 
“What we have been asking the sector for, for a while now, and should revisit after the immediate crisis is this,” he said.
 
“What we are after is a qualifications and skillset accreditation scheme that enables staff to move between banks that recognises their professionalism, experience and their qualifications.
 
“That (needs to be) tied to a system whereby those qualifications are recognised right across the sector and not just in the yellow bank, or the blue bank or the red bank.
 
“We have to recognise the jobs of the future require portable skills and the finance community should be part of that change to A, skill their staff and B, make sure those skills are portable across the sector.
 
“I think that government has got a role to play there by bringing the parties to the table to make that work.”
 
With FINSIA’s origins dating back to a 19th century post gold-rush crisis in banking, it is apt that the not-for-profit is once again highlighting the importance of the human capital within the workforce, according to Chris.
 
He said: “COVID-19 is as Nathan said at the banking summit an industry and economy game changer.
 
“But it doesn’t alter FINSIA’s stance on the need for increased levels of professionalism and higher standards of qualifications across the industry.
 
“In fact, it’s probably more important than ever. We heard that the banks were redeploying staff to deal with the almost 200,000 calls they’d had in just a few days.
 
“There was talk of one bank recruiting and training hundreds of call centre staff to deal with the flood of calls they are going to be getting from people unable to pay rent and mortgages.
 
“This is when customer facing staff really need to have all those core banking fundamentals to acting with integrity and compassion.
 
“Nathan almost hit the nail on the head about what should be happening on the other side of this crisis when he called for an accredited qualifications scheme for the banking sector.
 
“While I would agree with the need for that, I think time is pressing and anyone who has the opportunity to up-skill during this time should seriously start now.
 
“Some cynics might say, ‘I would say that’ as an education provider. 
 
“But that really isn’t the case. FINSIA is a not-for-profit focused on delivering the best interests of the banking and financial services community.
 
“The qualifications that we have can all be done online, from short courses to the pinnacle in global banking, which is the Chartered Banker.
 
“That is a course I did myself a few months ago, when I completed the Chartered Banker by Experience qualification, which took me 12 weeks.
 
“More than 25 years in the industry, it really was rewarding to put the knowledge I had gained to a recognised qualification. It’s something I am certainly proud of and I believe it has improved my understanding of the industry and what needs to be happening, especially in times like these.
 
“It wasn’t just a rubber stamping exercise. It was a rigorous examination of what I’ve learned.
 
“But that’s just one of the many courses available online we have on offer.”