Cliff Stanford, counsel in the firm’s Financial Services & Products Group, participated in a roundtable discussion for BankDirector.com discussing the changing banking industry and how personnel’s skills and backgrounds in this industry, including executives within the C-suite, will shift in the next five years.
“While banks continue to rely on service providers for efficiencies, expect a premium to be placed on those middle managers who can negotiate and manage third-party relationships,” Stanford advised.
“Encouraged by the regulators, banks have become increasingly attuned to the risk management burdens of outsourcing, particularly with regard to consumer-facing services and information technology,” he said.
“In the bank C-suite, expect to see continued strong demand for those with risk management, compliance, technology, information security and credit risk backgrounds.”
“While banks continue to rely on service providers for efficiencies, expect a premium to be placed on those middle managers who can negotiate and manage third-party relationships,” Stanford advised.
“Encouraged by the regulators, banks have become increasingly attuned to the risk management burdens of outsourcing, particularly with regard to consumer-facing services and information technology,” he said.
“In the bank C-suite, expect to see continued strong demand for those with risk management, compliance, technology, information security and credit risk backgrounds.”