In this episode of our Learn Better podcast, the host and Kaplan’s Head of Learning, Stuart Pedley-Smith spoke to guest, Tanya Retter. Tanya has worked within the banking industry for over 25 years and is now the Chartered Banking Institute’s Executive Director of Education.
Key topics discussed
Tanya’s career history
The episode begins with a discussion of Tanya’s career and how she got into banking.
Tanya reveals how she joined the industry straight from college, as it was considered a safe and traditional career choice. She also recounts how there were many opportunities for women during this time, and reflects on how the banks were far more administrative than today, with large back office teams and lots of paper!
The 2007-2008 financial crisis
Tanya’s career started back in the 90s, so she’s seen it all over the past 25 years. This encourages a conversation about the financial crisis in 2007-2008, and how opinions of the banks changed.
Sharing her first-hand experience, Tanya reveals that she lost pride in what she did during the financial crisis and would avoid telling people that she worked in banking, knowing that there was a sense of anger and disappointment in the eyes of the public. This was largely due to the negative feedback, complaints and overall views towards banks.
“I remember quite vividly phases where I would get into taxis if I was at work and going to meetings, and if somebody asked me what I was doing, or what my industry or career was, I’d try and step sideways around the conversation.
I’d never felt like that about banking.”
The discussion of the financial crisis triggers a deeper dive into the history of banking, and how the customer’s needs and expectations have changed and developed over time. Tanya shares her views on branches closing down and functioning only online and provides some predictions for the future - suggesting that online-only banking will not work in the longer term if there is a need to build trust with your customers.
Digital transformation in banking
Tanya speaks about how advances in technology have allowed banks to maintain, or return to, a more personalised approach for their customers - without having the bank manager that customers may have seen in the past.
She also shares the benefits of being able to use digital insights to collect and use data to support customers. At the same time, she predicts that we’ll see much more regarding digital transformation in banking.
Skills needed for a career in banking
Stuart asks about the skills professionals need to develop to be successful in their banking careers. Tanya’s initial response highlights the many different career paths or areas within the banking industry, particularly focusing on those skilled in managing data or working with technology. Specific skills mentioned include critical thinking, adaptability, resilience and agility due to the everchanging, fast-paced environment.
The Chartered Banker Institute (CBI)
Stuart asks Tanya to talk more about what the Chartered Banker Institute does to support the banking industry. Tanya’s passion towards this is evident, as she explains that she has devoted her career to helping people be the best they can be for their customers, and ensuring that they are having a positive impact on society.
“Banks play a huge role in making sure that the UK gets to net zero.”
Tanya also talks about how the institute provides clear pathways on how to become a chartered banker - which is recognised globally and is the highest status that the awarding body provides. But she also touches upon specific key areas in banking such as sustainability, digital transformation and AI. She explains how they are supporting bankers to understand the impact and influence of tools such as AI.
Studying with the Chartered Banker Institute
Stuart asks Tanya how individuals can apply to study with the Chartered Banker Institute. Tanya explains that anyone with an interest can become an affiliate partner and gain access to a plethora of resources relating to core banking skills. The Professional Banking Certificate is particularly highlighted, which Tanya describes as the “foundation of where our qualifications start.”
Social inclusion in banking
The topic moves on to social inclusion. Tanya explains that banks aim to keep a good image in the local community and positively impact society - which is also reflected in their recruitment processes.
An interesting example is the specific banks that have created accounts for Ukrainians who are emigrating to the UK due to the crisis in their home country.
Banking as a career
Tanya lists the varied career options in the banking sector for those with a background in finance, such as accounting, policy-making, strategy and law, and how banking can allow you to access a global market of career opportunities. She also suggests different areas within the industry and the variety it can bring to a role like a typical accountant.
Looking into the future
Stuart asks Tanya’s opinion on what the next ten years will look like for banking.
She explains that the rapid transformation of technology will inevitably impact the industry. However, it may take some time for the big banks to adopt it and create change that drives true digital efficiency and customer support. Tanya also expects that there will still be a need for connectivity, which can be seen even now with the creation of banking hubs in local communities after many bank branches have closed down.
Catch up with previous episodes
Don’t worry if you’ve missed any episodes. All previous episodes of the Learn Better Series can be found on: