Mercury, Consulting on Recruitment and Training Improvement Plans
Aiming to Secure and Develop Convergent Financial Talent
Commercial Banks Also Focus on 'Digital and IT' in Hiring
General Positions Require Digital Competency for Acceptance
[Asia Economy Reporter Song Seung-seop] In response to the rapidly changing environment such as the 4th Industrial Revolution and mobile innovation, the financial sector is also changing its recruitment methods and talent criteria. This stems from the recognition that it is difficult to secure talent in the digital and IT sectors with the traditional talent standards previously set in the financial industry. As the demand for necessary personnel decreases, there appears to be a judgment to select more excellent and suitable talent more precisely.
According to the financial sector on the 7th, the Export-Import Bank of Korea recently issued a request for proposal for a "Consulting Service on Improvement Plans for Recruitment and Training Methods" through an urgent bidding announcement. This is to secure and nurture convergent financial talents capable of actively responding to the changing financial environment. Through the consulting, the bank will conduct a detailed diagnosis and prepare improvement plans for new recruitment and internal talent development systems. The project is scheduled to start at the end of this month. It is a roughly 12-week project with a budget of 250 million KRW.
According to the proposal, the Export-Import Bank of Korea will establish the ideal talent profile suitable for fulfilling the role of a policy financial institution. After defining the bank’s roles, functions, and the necessary competencies of new employees, standards will be set to verify whether the roles and competencies are appropriate. The current recruitment process will be thoroughly diagnosed to determine if it is suitable for securing the necessary talent, and evaluation criteria and new employee training systems will also be reviewed. Analysis of recruitment trends and implications from domestic and international public institutions and private companies will also be derived.
Korea Asset Management Corporation (KAMCO) decided to develop tasks necessary for interview screening through the "Recruitment Agency Service" project it commissioned last month. The goal is to create tasks that reflect high job understanding and the latest trends to select talent. This will be done by conducting in-depth interviews with one or two experts in each field to set the necessary competencies for each recruitment area. For new recruitment, a total of 70 questions will be developed, with 35 questions each for the presentation and situational interview sections, and for experienced recruitment, a total of 40 questions will be developed for the oral interview.
Even General Positions Require 'Digital' Competency for Selection
Commercial banks are already responding swiftly to the changed environment. Since last year, KB Kookmin Bank has started verifying digital basic literacy along with sales capabilities when selecting applicants for the general position category called ‘UB General.’ To proactively respond to continuous changes in the financial environment, they plan to increase job-centered recruitment. In core growth areas such as ICT, they are separately recruiting experienced professionals.
Shinhan Bank also introduced a digital literacy assessment during its recruitment in the second half of last year. This was announced after Shinhan Financial Group Chairman Cho Yong-byeong stated in the 20th anniversary speech that "it is difficult to discuss customer value without digital." Digital literacy is a process to confirm the essential thinking skills and understanding required for the digital transformation of finance. This is the first time that a digital literacy assessment has been introduced for new employees in the general position category.
In the case of Hana Bank, the TOPCIT business area questions were included in the written test for ‘regional talent new employees’ in the first half of the year to evaluate digital literacy. TOPCIT is a test that assesses competencies such as computational thinking, program design, and coding.
Woori Bank is also accelerating the acquisition and utilization of digital talent. During the recruitment for the digital and IT sectors in the first half of the year, there were no restrictions on majors, and those with related awards or certifications were given preference. A Woori Bank official emphasized, "We will nurture core personnel through bold investments to cultivate talent in the digital and IT sectors."
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