Credit skills are integral to the operational performance of any bank from a financial, operational and relationship management perspective.

While the majority of employees in the banking sector will focus on developing their technical credit skills from day one, the uncertain and changing nature of the marketplace means that regular learning and development is necessary in this area.

Particularly in the current economic climate, where the ongoing effects of the coronavirus (COVID-19) outbreak continue to damage business operations, financial growth and stability across the entire world, consumers will be relying on those in the banking sector arguably more than ever before.

It is for this reason, among many others, why credit skills need to be regularly assessed and improved on in order to see real positive change and ensure that the workforce is prepared when a particular crisis hits.

Regularly analysing the credit skills of the workforce

A goal for any bank will be for their workforce to possess the credit skills necessary to make sound financial decisions and develop their relationship management capabilities at the same time.

The implementation of AI and other innovative technologies will, of course, pose significant changes to several areas of banking, including, but not limited to:

  • Lending decisions
  • Customer service
  • Documentation intelligence.

Despite this, there will always be a need for employees to possess the relevant skills in order to complement technology.

In light of this, it is critical, especially when it comes to times of crisis, to regularly test the skills and capabilities of the workforce across an entire hierarchy. One way in which to achieve this is through a dedicated training programme.

MDA Training’s approach to credit skills in the banking sector

We have recently published a guide outlining the importance of credit skills for banks during a recession. In addition, when it comes to skills development in general, our experiential learning solutions are closely aligned with specific credit cultures and learning needs.

While our programmes are typically delivered through interactive workshops by our expert consultants, we are currently providing credit skills training using digital and virtual methods.

A typical programme will emulate genuine scenarios related to credit management that the business is likely to face, giving employees a first-hand experience of how to make informed financial decisions.

Our ‘Credit Skills Pathway’ was created to give employees a platform in which to develop their skills, embed and sustain the learning and make real improvements.

From identifying learning needs to reinforcing key skills and behaviours in the workplace, our programmes are designed with your people in mind.