NAB will send its entire workforce back to school in an effort to raise professional standards across the banking industry.
NAB will put all 34,000 of its employees through a financial education program that goes “beyond industry standards” in partnership with the Financial Services Institute of Australasia (FINSIA).
“We want the very best bankers in Australia, and globally, to be at NAB,” said CEO Ross McEwan. “That’s how we will serve our customers well… By lifting the quality of service we provide and setting clearer, more consistent expectations of conduct, NAB will raise the bar for professionalism within the financial services industry.”
NAB will be the first major Australian bank to implement the accredited career pathway and was working with FINSIA to deliver a curriculum that will build “skills, capabilities and confidence”.
“This qualification will be the cornerstone of a career pathway,” Mr McEwan said. “It will include the fundamentals of banking – getting the basics right which I’ve said from day one at NAB is so critical to serving our customers well – and the skills and expertise for supporting customers in good times and tough times, which will be needed in a [post-COVID-19] world.”
Mr McEwan implemented a similar training program at the Royal Bank of Scotland during his time as CEO, when the 2008 global financial crisis raised concerns about reputation, conduct, poor credit skills and lack of awareness across the banking industry.
“FINSIA welcomes the decision made by NAB to be the first of the major Australian banks to make this investment in their people so they can be the best in their jobs,” said FINSIA chief executive Chris Whitehead. “Our bespoke professional education and training program will be rolled out to everyone across the bank.
“This has never been more important than during these unprecedented times as banks play a central role as shock absorbers for the economy.”
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