The bank is “thirsty” for personnel in 4.0
High quality human resources is a challenge not only for the banking industry but also for other industries when robots and technology gradually dominate humans.
Credit institutions stated that the labor and employment situation in the banking sector continued to change positively with 56.84% of CIs said that they recruited more workers in the third quarter of 2018, higher than the rate of 46% recorded in the period. before. However, 26.6% of CIs said that they were short of labor needed for current job needs and 61.46% of CIs expected to continue recruiting more workers in the fourth quarter of 2018.
According to the report of the International Labor Organization (ILO), the demand for new training of human resources for banking and finance in the period 2016 – 2020 of Vietnam is over 1.6 million people and by 2020, the total number of human resources. working in the banking industry with about 300,000 people.The credit organizations said that the labor and employment situation in the banking industry continued to change positively with 56.84% of credit institutions said that they recruited more workers in the third quarter of 2018, higher than the rate of 46% recorded in the previous period. However, 26.6% of CIs said that they were short of labor needed for current job needs and 61.46% of CIs expected to continue recruiting more workers in the fourth quarter of 2018.
There will be many simple jobs to be replaced by robots
For many years, banks have been struggling with the problem of personnel: redundancy is still redundant, but shortage is lacking, especially in the context that Vietnam is standing on the threshold of Industrial Revolution 4.0. With Industry 4.0, experts believe that banks will face many difficulties in retraining and retraining so that officials and employees in the banking industry are qualified to operate and master new technologies. In addition, Vietnamese banks will be under greater pressure to attract high quality human resources, facing the risk of “bleeding” epidemic transfer of high quality human resources to foreign credit institutions.
The labor market in the banking industry will change in the direction of reducing tellers, branch transactions … and increasing high quality human resources, good at both financial, banking and IT professional skills. High quality human resources is a challenge not only for the banking industry but also for other industries when robots and technology gradually dominate humans.
For example, artificial intelligence (AI) will be increasingly improved, even in some aspects that can be smarter and more accurate than humans. Banks can apply AI to manage risk portfolio, customer management, and database. With self-learning and adaptability, the potential of AI is not limited to applications. “Advanced robots that integrate artificial intelligence do not just stop at manual jobs, such as replacing people in simple, repetitive work fields that can completely replace them. bank staff has direct contact with customers, ”MSc. Pham Anh Tuan, Member of the Board of Directors of Vietcombank shared.
“Regional economies like South Korea and Taiwan have prepared high quality forces while in Vietnam this segment’s human resources are still limited. According to IDG’s survey, in Vietnam, human resources for digital technology are not high, university training programs change very slowly compared to the trend. In the meantime, many universities in the US have introduced artificial intelligence and machine learning courses to teach MBA, ”an expert said.
The gap in digital capabilities will only widen and banks that cannot keep up with the trend will be left behind. Therefore, the training and attention to the quality of high-tech human resources should be carried out in the entire banking and financial system, ensuring sufficient ability to apply IT and advanced working methods in conditions. extensive international integration.
TS Nguyen Thi Kim Thanh – Deputy General Secretary of the People’s Credit Fund Association found that, in fact, the State Bank as well as credit institutions have paid great attention, focusing on strengthening both the quantity and quality of IT human resources through various policies of recruiting, using and training have basically met the IT resources for the banking sector’s operation in recent years.
However, Ms. Thanh also said that the quality of IT human resources is still low compared with the needs of the industry, especially the team of experts in information security. It is this deficiency that leads to IT application development as well as management and control of security and safety that are not commensurate with the operational needs of the bank, do not ensure security and safety, easily fall into the situation. embarrassed, passive before large-scale, organized attacks of high-tech crime.
CEO of a joint stock commercial bank needs to have an appropriate ecosystem, training and developing human resources in the context of Industry 4.0. The curriculum needs to change more to be ready for human resources to meet the needs of the banking industry, to avoid brain drain. It is also important to focus on interdisciplinary training from universities such as IT in finance – banking, business analysis, financial technology …
Accordingly, the recruitment, remuneration, usage policies … need to be researched and adjusted appropriately in order to attract talents to serve the banking industry long-term. The long-term significance in the development of banking human resources. The quality of human resources is not only a banking professional level but also comes with digital technology operation skills, compliance with the banking operation’s process of providing products and services in the IT environment.