Magazine article The RMA Journal

The Best Future Bankers Will Look to RMA

Magazine article The RMA Journal

The Best Future Bankers Will Look to RMA

Article excerpt

More and more lately, I have been pondering the future of our industry. I suppose overseeing a scholarship program for future bankers will do that to a person. As is explained in more detail on Page 9, our RMA Foundation recently awarded scholarships to 54 college students who have demonstrated an intent to pursue careers in banking.

Working on that effort naturally led to the question, "What kind of world will these students face as they progress through their careers?"

According to many industry experts, banking could look much different than it does today in as little as five years. Experts envision an industry that is more data-driven, more affected by both competition and collaboration with fintech disruptors, and more threatened by cybercriminals and terrorists.

At the same time, there will be higher expectations from not only regulators but customers, who will be accustomed to narrowly targeted, personalized products and services that are delivered quickly and efficiently.

While it is impossible to predict the new status quo that will emerge from all of these moving parts, there is agreement that the best future bankers will be innovative and steeped in the importance of effective risk management. They will be alert for new opportunities, but also wise enough to steer clear of the reputation-killing headlines that have hurt the industry's attempt to recover from the financial crisis.

Like bankers today, the best future bankers will also look to The Risk Management Association, which has consistently been at the leading edge of financial services industry issues. …

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