On Thursday, the 10th of August, FSA held the Banking with Commercial Banks Panel to provide scope to a different finance specialization. The event began with the panel, consisting of Ms Anno Aynikkal from CBA, Mr Bhargava Cherukuri from Westpac, Mr Abhimanyu Shiv from ANZ, and Ms Dolly Cutinho from NAB, being asked a series of questions about their roles. Our panelists' experience and expertise resulted in various insightful answers to multiple questions. Following the main line of questions, the attendees were allowed to ask their questions, giving those interested in the commercial banking sector a floor to speak.
A few key points can be taken away from our sponsor's contributions:
There are many reasons to involve yourself in a commercial bank, as it provides excellent avenues for growth compared to other institutions and provides a rounded experience for those with many interests or who are unsure of their future welfare.
The next big thing in the world is AI. AI is being used to predict economic movement and reduce operating inefficiencies. The key to moving forward is to recognise and learn from the “banker behind the bank”, who will address the forthcoming AI developments.
The biggest challenge in commercial banking is compliance and ESG. ESG reporting is making a solid push towards being a regulatory requirement as clients become more interested and aware of its purpose. The regulatory board is further imposing adjustments to other rules, creating a stricter operational environment and creating a butterfly effect of bureaucracy.
Soft skills, such as communication, are pertinent to success in the workplace, as miscommunications are a frequent source of error. Moreover, adaptability and curiosity are what seniors look for, a person who can create a brand for themselves.
To stand out in recruiting, students should stay up to date with the financial news, domestic and international, so that it comes up naturally in conversation, projecting a genuine interest; Also, to be okay with rejection, as there is always another opportunity around the corner if you don’t get your desired outcome.
The Banking with Commercial Banks event allowed FSA members to network with the speakers after the panel. Not only did this enable further questions about the contents of the forum, but an opportunity to receive career advice and information on commercial banking.
Are you a student looking to explore different areas in finance? Sign up as a member to be notified about our next event, ‘Everything Big 4’, on Thursday, the 24th of August.