Omega Performance
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March 10, 2023
Close the Talent Gap with Credit Risk Training to Attract and Retain the Best Employees
Senior executives in the banking industry are retiring, and banks are hard-pressed to replace them. Intensifying the problem is the fact that during the Great Recession, financial institutions hired fewer bankers in their mid-30s and 40s. Artificial intelligence (AI) has eliminated some banking tasks in recent years, causing bank hiring managers to believe that they could hire fewer professionals to address credit risk. However, human-driven credit risk is more sophisticated than the AI technology designed to find and mitigate it, so banks must hire employees specializing in credit risk and train them to do effectively do what AI can't. Training is a primary method for retaining the newest generation of credit risk professionals, too. This 2016 blog post provided insights to bank leaders about its importance. (**This is a blog post I pitched, researched, and wrote for then-40-year-old banking industry consultant, Omega Performance, which provides credit risk training to banks. Moody's Analytics now owns Omega Performance.) Image: Christina @ wocintechchat.com on Pexels