Where will the future jobs in banking be?
What bankers will get a seat at the executive table in the post-pandemic world and what jobs could be on the decline? Experts reveal their top picks.
Sally Patten, Natasha Boddy
The Australian Financial Review article, "Where will the future jobs in banking be," quoted Russell Reynolds Associates Consultant Peter L. O'Brien on the roles that will likely become more involved around the top table of banks in the future. The article is excerpted below.
In just three years, the number of cloud engineers at National Australia Bank has skyrocketed from seven to 1300. ING Bank has 29 "customer journey experts" - a role that did not exist two years ago - who translate customers' needs for the computer engineers.
ANZ has just promoted its group data and automation chief Emma Gray to the executive leadership team, and a large European bank is about to appoint a chief orchestrion officer with oversight of its data, digital and automation functions.
Welcome to the new world of banking.
Peter O'Brien, Asia Pacific managing director for executive search firm Russell Reynolds, predicts chief human resources officers will have greater power around the top table as bank boards become more focused on talent development and ensuring teams are capable of adapting to fast-changing customer needs.
"It is becoming a more important role and will have much more voice." O'Brien says. He also predicts banks might promote chief product officers to the top table, although they will not be the product managers of old.
"Today's product officers are not pushing products out." O'Brien says. "They are futurists who create new ways for customers to consume products in several ways that bring the 'entire bank' to the customer, either through digital, relationship management or bundling and cross selling."
To read the full article, click here.