Changes in the banking sector imply the training of experienced professionals. A process that can continue throughout their careers.
In recent years all sectors of the banking world have been affected by changes going beyond simple technological development. There are many reasons for this, from the revolution in means of payment to support activities, the core business of advisory asset management, new accounting and prudential standards and international requirements relating to the fight against money laundering and terrorist financing. The profession is changing, with higher levels of qualification and the predominance of commercial activities, making the client the focal point for business. The bank has to develop its business by promoting customer loyalty and offering innovative, high-quality products and services.
Mobilizing the whole of the bank
Training in banking has developed similarly: the diplomas delivered by the banking profession’s training centre (CFPB) bear witness to this. With respect to activities in the Principality, this essential training perhaps fails to take into account all the components of the Private Banking activity. The Compagnie Monégasque de Banque has developed its own solution, with a four-part training plan. The first component is technical training, a response to the need for greater competitiveness on the part of the employee and the bank. Each module is divided into a general section and its application to the establishment. The three-year diploma programme is designed mainly for employees in contact with clients. The second component is training in change and team management. It provides a more thorough grounding in techniques relating to the management of growth and change, conflict resolution, time management and meeting organization.
These courses, in the form of seminars run by external trainers, are designed for the heads of the different bank departments. Third component: specific training for specialists in the establishment who need refresher courses or new information.
All heads of department are involved in identifying needs at this level, which also includes language classes and the CFPB diploma courses. Finally, the fourth component is the training of new CMB employees. All new recruits go through mandatory training provided by the establishment’s managerial staff.
Strengthening the company’s capital
A steering committee validates the programmes and trainers involved in this vast educational programme. Because of the fierce competition that exists today, clients are more and more demanding. Training is one factor that enables employees to remain on top of the job. Expenditure on human resources development is an investment: the know-how and experience of its staff are part of the company’s capital.
