MIND THE GAP
R&C: How would you describe resource and talent management pressures currently facing the banking industry?
Ashcraft: As the banking industry globally continues to look to improve services while cutting costs and optimising operations, the need to focus on data and analytics becomes increasingly important. Pressure to get access to the right resources is revealing a skills gap in the industry. Recruiting the right talent and developing the increasing number of skills is a key challenge in modernising risk modelling capabilities.
Rogers: Capability and skills necessary to implement technologies is holding many developments back in risk. The largest gap many firms are seeing is in the softer area of people development. The pandemic is resulting in many firms having to work very differently, which makes it even more important to invest in people, with appropriate focus on talent management and development training. These topics often get pushed to the back of the queue in terms of attention.
R&C: What kinds of specialist skills are banks looking to develop in order to improve risk management and provide cutting edge digital services?
Rogers: As new digital services are rolled out, it is important to ensure that risk management activity and decision making are properly delineated and taking place in the right part of the organisation. With firms rolling out more digital services and looking to empower risk decision making as close to the front line as possible, it is also worth mentioning that enablement is not just related to new analytics technology, but also includes policies, rules and the standards that staff must follow.
Jan-Mar 2022 Issue
SAS Institute