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Today’s bank leader is under greater pressure than at any time since the financial crisis. While the crisis itself was a hot mess, the banking climate remaining in the aftermath of the Great Recession has likely altered the course of the industry for decades to come. The two most vital ingredients today for a bank’s long-term autonomy are capital and talent. Without those two key elements, a bank’s future survival becomes much more of an uphill climb.
Much has and will continue to be written about the tangible banking skills and technical proficiencies which have become necessities for leaders in the industry today. There’s a shopping list of experience with subjects such as regulatory relations, balance sheet management, capital strategy, commercial credit, investor relations, risk management, technology and strategic planning that are now considered “table stakes” for bank leaders and CEO contenders. Despite this daunting plethora of needed banking skills, the real challenges lie in development of the key leadership requirements for institutional success, and in the navigation of the managerial challenges which lie ahead.
There is no shortage of experts touting their views on the vital leadership competencies of the day. So we will focus here on three intangible but particularly important areas of emphasis in the human capital arena which are critical for the future bank leader’s success: cultural agility, workforce flexibility and talent-centricity.
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The article appeared in the Oct./Nov. 2016 issue of Banking Exchange magazine, copyright 2016 by Simmons-Boardman Publishing.
Alan J. Kaplan is Founder & CEO of Kaplan Partners, a retained executive search and talent advisory firm based in Philadelphia. Kaplan Partners is the country’s only retained executive search firm member of the ABA & ICBA. You can reach him at alan@KaplanPartners.com or 610-642-5644.