Banks develop IT talent toolkit and framework

Banks develop IT talent toolkit and framework

NatWest, in tandem with the Financial Services Skills Commission and other banks, has developed a framework to tackle the IT talent gap hitting UK banks.

The Framework (originally launched in October 2021) has been expanded over the last 12 months through cross-industry collaboration from FSSC members including Direct Line Group, Zurich Insurance, Danske Bank, and Barclays to include a total of 13 skills and behaviours considered crucial to boosting competitiveness in the sector.

These include digital literacy, coaching and software development, alongside creative thinking, data analytics & insights.

The five essential skills have been identified as "business critical" for firms across the sector given the ongoing shortage of talent in technology, cyber and digital.

Claire Tunley, chief executive, FSSC says: “Financial services firms recognise that people are key to its success. The development of the Framework will help firms prioritise investment and training in skills, which is crucial in helping the sector close skills gaps. This will further enhance employee career progression and training opportunities, and ensure firms are equipped with the right talent and skills to boost innovation and competitiveness over the long term.”

The FSSC, an independent member-led body, representing the UK financial services sector, has also recently published a Skills Gap Analysis Toolkit developed in partnership with Lloyds Banking Group, to help firms identify future skills for the long term and to support ongoing skills forecasting.

Anthony Mazen, head of people for customer services at Lloyds Banking Group, fills in the details:

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