If you want a career in banking today, being tech-savvy is a must, says Kristen DiSanto, The Washington Trust Co.’s senior executive vice president, chief human resources officer and corporate secretary.
“It is an area that differentiates job candidates,” she said. In addition to supporting daily bank services, technology drives data security and analytics – two areas of potential job growth in the industry.
How is technology changing how traditional brick-and-mortar banks – and their employees – operate? Technology is a part of everything we do in life, and banking is no different. Customers want on-demand access to their account information and the ability to use technology – anytime, anywhere – to shop, dine, check their balances, pay their bills, transfer funds, pay their friends, etc. Flexibility, convenience, speed, ease of use, security and integration are critical.
Technology has infiltrated every job function. It helps us all do our jobs better, quicker, more efficiently and more consistently. Years ago, banks had teams of programmers who developed and ran bank technology. Now, with the growth of the fintech industry and cloud-based solutions, banks do not need to develop their own proprietary programs. … Bank technology is ever evolving and requires teams of employees dedicated to implementing and maintaining those digital solutions and protecting information from both breach and fraud. In addition, data plays an integral role in enabling us to serve our customers better. We need staff that know how to extract, analyze, interpret and present data for customer service, audit, compliance, financial reporting, marketing and other purposes.
How do you manage the ever-evolving technology? While we have a centralized core banking system and technology infrastructure, all business line and functional areas also deploy additional specialized solutions and products that serve clients and/or help do our jobs more efficiently. In order to maximize the effectiveness of those systems, each area has systems experts, or business systems analysts, who manage the technology solution and the data that it houses. These individuals are responsible for understanding the operations of their team and leveraging technology to improve operations and optimize the customer experience. In addition to daily systems management, these individuals act as in-house consultants, working with internal stakeholders and systems vendors to identify solutions, implement systems, deploy additional functionality, resolve systems issues and maintain systems documentation.
With all the bad actors out there, how do you keep your data safe? We have a risk management framework and a broad-based program of policies, procedures, programs and technology tools designed to safeguard customer information and privacy. We also have a highly skilled team of information security and technology professionals who oversee these programs and are responsible for protecting the bank and our customers from all forms of threat – disruption, unauthorized access, disclosure, modification and fraud. … As banks introduce more technology and digital solutions and the risk of fraud increases, we’ll likely see a need for more technology and information security professionals. Many colleges offer courses and certifications in information security.
And while our in-house experts oversee our corporate data systems and security, every employee understands they have a responsibility for protecting customer and company data. Employees receive regular information security and protection training and testing to ensure data security is top of mind. We also have a robust customer communications program to keep customers informed of how to safeguard their assets and protect themselves from fraud.
Washington Trust has remained committed to brick-and-mortar locations, but is technology eliminating traditional banking jobs?
While technology has enabled us to do more, faster and more consistently, it hasn’t resulted in any position eliminations at Washington Trust. That said, we likely have had fewer additions to staff as the bank has grown and expanded. … Years ago, banking was very paper intensive, with numerous manual processes performed by low-wage, single-focus clerical positions. Technology has allowed us to automate many of those clerical tasks, streamline processes and manage multiple functions simultaneously. Over time, our workforce has shifted away from low-wage clerical positions to higher-wage, skilled functions with exposure to more-complex and interesting work, as well as increased opportunity for career growth and professional development.
On the information technology side of business, what are the specific skills most in demand in the industry, and at Washington Trust, to support the increasing reliance on technology? Are there enough local workers to help fill those jobs?
Every employee needs at least basic computer and systems navigation skills. Nonbranch employees also need knowledge of Microsoft 365, including Word, Excel and Outlook. In addition, advanced knowledge of automation and analysis tools like Power BI [business intelligence], Power Automate, Visio and SharePoint are extremely valuable in process optimization, automation and analysis. We continue to build internal expertise in these applications.
In addition, understanding how to manage change through effective planning and measurement is an essential skill for success. Given the number of change initiatives each year, it is critical to have project management expertise throughout our workforce. … To build this expertise, we have created an internal training program to educate our workforce on project management methodologies, processes and tools. Again, this is a key skill that helps differentiate candidates applying for positions at Washington Trust – and likely other banks as well.
Finally, process optimization is an increasing area of focus for us. We encourage our teams to constantly seek opportunities to automate tasks and increase efficiency. This does not necessarily require an advanced certification in Lean or Six Sigma. To be successful, you must understand your processes from end to end, identify key stakeholders, determine why [and whether] each step is needed, eliminate unnecessary tasks, and then deploy tools and/or be willing to seek assistance from others. … We are working to build expertise in this key skill through all of our bank functions and consider it an area that differentiates job candidates.
How has the integration of technology throughout Washington Trust benefited customers? Technology makes it faster, easier and more convenient for employees and customers to get access to financial solutions. We continue to expand our technical capabilities to ensure we can interact with our customers through the channel of their choosing – whether it is digitally, by phone, videoconference or in person at a local branch or office. We continue to leverage smart technologies to provide customers with on-demand access to funds, information and functionality that meets their needs and expectations. We also provide them with planning tools and calculators that can assist in making financial decisions and managing wealth.
All that said, at Washington Trust, we believe that providing caring, personal service with a human connection is an important differentiator for us – even in this digital age.
How much tech-related training, or upskilling, does the bank provide or support for both those entry-level positions and for jobs outside of IT requiring more-specialized tech skills?
We meet regularly with managers to discuss organizational talent and development needs to ensure that our workforce has the most up-to-date skills for their job. Managers frequently request training on automation tools like Power BI and Power Automate; project management; process optimization; and advanced Microsoft Office 365 skills [Word, Excel, Access, SharePoint, Visio, etc.]. We also require that multiple team members have advanced knowledge and experience with the technology systems in their functional area and encourage knowledge-building through participation in user groups and vendor educational events.
As the industry’s dependence on technology grows, is there concern that it will come at the expense of workers developing the soft people skills that traditionally have helped banks connect with customers?
Increasing reliance on technology can sometimes come at the expense of interpersonal skills, particularly the soft skills needed to interact and engage with customers. While technology is important, it is only part of the customer experience. We pride ourselves on being trusted advisers who get to know our customers personally and professionally. We understand that it often takes multiple conversations to get to know a customer and understand their unique needs before you can provide a customized solution. We also realize that it takes time to build relationships and earn their trust. We are committed to ensuring our employees have the training and skills necessary to provide the exceptional service experience that our customers expect.
