Training for Tomorrow: Banks Adapt to New Learning Styles

OK boomer, are you ready to say goodbye to the mid days of one-size-fits-all training sessions? A new generation of workers is shaking things up in the banking world, demanding a fresh approach to learning. This digital-first crowd thrives on multi-modal, skill-focused, and self-directed education, prompting banks to yeet the old playbook and embrace new and exciting techniques that actually slap. #nocap (Sorry, this Gen Xer-will stop trying to drop Gen Z lingo starting now ...) 

In a new RMA Journal article, members of RMA’s Learning & Development Council shared various strategies they are using to modernize their training programs, such as: 

• Short, focused training sessions that cater to a preference for quick, digestible content. 
• Diverse media formats, including videos, interactive content, and in-person sessions, to engage different learning styles. 
• Programs tailored to meet specific functional needs. 
• Collaboration between new and experienced staff in creating effective educational content. 

At JPMorgan Chase, the “core and more” approach exemplifies this trend, adapting standard training to the unique requirements of different departments. Wasfi Bsisu, head of learning and development for risk management at JPM, emphasized the challenge of balancing mandatory training with self-improvement amidst daily job demands. 

Other key areas of focus include: 

• Remote work further complicates training design, prompting banks to offer both virtual and in-person course options, said Mark Jensen, SVP and risk officer at Western State Bank, who underscored the importance of side-by-side learning, even in a remote setting.
• ​​​​​Soft skills, especially emotional intelligence, are becoming increasingly important. Jenny Ketchepaw, vice president of talent engagement at Citizens Business Bank, noted the transformative impact of such training, with many managers experiencing significant personal insights.
• ​​​​Generative AI training is another priority, with banks eager to harness its potential while being mindful of associated risks. Proper education and strict governance are crucial as they integrate this technology. 
• Storytelling and communication skills are in high demand. Bob Smith from First Citizens Bank highlighted the need for effective presentation skills, especially for conveying data to senior management. Bsisu added that the ability to distill complex information into clear, compelling narratives is essential. 

Read the complete article here.