Banking On Building Better Relationships

The Age

Saturday May 20, 2006

VICTORIA GURVICH

Banks are looking for new faces to help in their key growth areas, writes Victoria Gurvich.

MANY banks are looking for front office staff to work in areas such as retail banking, mortgages and financial planning, says Robert Half Finance & Accounting's Jules Stocky.

These are key areas where banks earn money "so they are looking to ensure they have robust sales teams in place", says Mr Stocky, the manager of the recruitment consultancy's financial services group in Victoria.

"If customer service is good, they'll be able to improve customer share."

Matthew Gowan, senior manager of Hays Banking, Victoria, says the business development and sales side of banking, which includes meeting people to discuss mortgages, has been solid this year, in part because there is much competition in the banking sector.

But he says most employers looking for quality staff want applicants to have a proven network of business referrals or business development - yet there is a finite number of such applicants the market can provide.

One solution, he says, is that some of the larger banks, including the NAB, have been moving graduates into business banking management roles, or relationship managers for business and retail banking.

"I think we'll probably see the banks revisiting career path options for people at lower levels."

Mr Gowan says the growth in banks' business begins with relationship building.

"Once products are put together, the increase in business or not comes from having good relationship people on the ground, getting people's renewals, refinancing from other banks, advising businesses about investments . . . These people can really increase banks' revenue . . . (After this) process people are needed as well."

Mr Stocky says other banking areas experiencing strong demand include governance, such as compliance, internal audit, risk management and general assurance, and there is also high demand for staff in asset management and investment banking operations, plus project managers and business analysts.

Mr Gowan says that there is strong demand for good financial planners from a range of employers including banks and accounting practices, but qualifications don't necessarily guarantee a foot in the door. Many employers are looking for applicants who already have networks and experience, but Mr Gowan advises that they are likely to be rewarded with loyalty if they are prepared to offer jobs and training to less-experienced candidates. "Most financial planners stay in their jobs for a long time."

Mr Gowan says there is steady demand for mobile lenders to sell mortgages. The rise in mortgage broker work over the past 12 months to two years was a reflection of the large number of mortgage products available, he says, "so there's a useful role in deciphering that". These jobs are often commission roles but mortgage broking can pay reasonably well, he says, and qualities and skills needed for success include self-motivation, good follow-up, being IT savvy, numeracy skills, and "more than anything, a good personality to build rapport with people".

When it comes to job interview technique and career progression, Mr Gowan has some tips, too.

"You have to be computer literate to apply for any job in financial services," he says.

Candidates need to be able to cope with a range of interview styles and interview preparation should be thorough.

"People should practise role play . . . and try to understand behavioural questions and competency-based interview techniques."

For example, he says, interviewees may be asked questions such as: "Tell me about a time when you had a difficult customer, what was the complaint, how did you handle it, and what was the outcome?" They may also be asked if they have researched the company on the internet.

"Presentation is still important even if you are going to be working in a casual environment," Mr Gowan says.

"You still need to go to the interview in a suit, it shows you're serious. The way you speak, the language you use - mind your basics."

Reliability is also important, Mr Gowan says. "If you can't make it or are running late, call."

And employers should do the same.

"In a candidate-short market," Mr Gowan says, "you can't afford to take candidates for granted."

One Melbourne business seeking recent graduates who do not necessarily have work experience or business networks is Standard Capital, which provides corporate, business and personal finance, broking services, investment advice and superannuation and insurance services to small and medium enterprises and other organisations.

Managing director Peter Orpen started Standard Capital five years ago and now has 15 staff. By the end of the year he hopes to have at least 25.

One of the main areas for which he is seeking staff is in banking and finance solutions that help businesses grow by, for example, helping websites obtain trading advantages.

He is looking for graduates of accounting, corporate finance or corporate law and says successful applicants, who are offered training and courses once employed, need to be "on a continual learning curve and enjoy that".

They also need to be customer-focused. Work-life balance is important, Mr Orpen says, but it doesn't necessarily mean leaving the office at 5pm sharp.

"You're talking about people's financial wellbeing. They've (staff) got to be passionate and enjoy the industry."

© 2006 The Age

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