How to survive the future of banking

One of the major adjustments required to assure success in banking's next chapter is the change needed within yourself. With the world changing faster than ever, are you changing with it … or will you be left behind? Four steps will help you chart your course.

Banking careers are being disrupted every day due to the confluence of technology and competition. The traditional career path of being hired and automatically moving up through an organization due to mutual loyalty between a company and the workforce no longer exists.

Instead of waiting for internal and external opportunities to present themselves, mindful executives are now recreating themselves for an ecosystem that rewards creativity and a forward-looking mindset. Winners in the future will realize that a career in banking is not static, but a work in progress that requires the ability to embrace change, accept risks and disrupt yourself. Your life and career must be in a permanent beta.

1. Determine Your Competitive Advantage

If your current job was eliminated today, would you be prepared to compete for the opportunities that present themselves? Would you be able to take your inherent skill sets and apply them in a new way that would benefit your next career stop and make you happy?

When I meet bankers worldwide, I see many who are always looking for the next best opportunity. It is not that they are dissatisfied with what they are doing today. It is that they realize that they want to be ahead of the marketplace and be in a position to embrace some of the exciting changes on the horizon. They are always learning and expanding their skills for the next opportunity as opposed to accepting status quo.


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