Pub. 11 2023 Issue 2

The OCC recently released its Semiannual Risk Perspective for Spring 2023, highlighting liquidity, operational, credit and compliance risks among the key risk themes in the report. These go hand-in-hand with the industry trends of mobile banking, artificial intelligence and chatbots, open banking and cryptocurrency, which are reshaping the industry.

These trends and challenges need to be faced with knowledge and information. The UBA partners with the American Bankers Association, OnCourse Learning and SBS Cybersecurity to bring Utah banks the latest information to ensure sound practices across all roles and levels.

Banking is one of the most competitive and dynamic industries, associated with high risk and turnover. These characteristics make staff training crucial for reduced risk and success. A good learning environment may be the key to excelling among many obstacles and many competitors.

The success and failure of an organization depends on its employees. When it comes to the benefits of training, improvement in an employee’s performance or knowledge is an indirect gain for an organization. When you provide access to training courses, certificate programs and industry news, you generally see:

Higher Performance — Global research proves time and again the positive effect of training on employee performance.

Decreased Turnover and Increased Employee Retention — The bottom line is that if you establish a learning culture within the organization, employees will feel recognized and will want to stick around. According to McKinsey’s research, reskilling is 20% more cost-effective than hiring new staff.

Easier Onboarding — A purposeful training design for the onboarding process, alongside the correct tools, results in a good onboarding experience, employee retention and increased productivity.

Better Decision-Makers — By providing your employees with the technical knowledge they need, the regulatory requirements information and by informing them thoroughly about your company, you help them make the right call at the right time. Additionally, consultancy organizations are recommending leadership training for all employees — not just those in leadership roles — because leadership can be demonstrated throughout all levels of an organization.

Risk Mitigation — One of the biggest challenges for the banking sector is to adapt and stay relevant in the face of ever-evolving regulations, technologies and customer needs. Having an adaptive training program for bank employees puts you one step ahead of your competitors. Training keeps employees up to date with current developments in the industry and helps mitigate risks associated with change.

To learn more about what the UBA and its partners have on offer, watch for our monthly Spotlight on Training, or visit our website calendar at