JULY 20249statement analysis, loan structuring, debt repayment and other relevant topics. Some programs included full college courses in accounting and finance for those candidates who did not major in those subjects. Case studies were used to enhance understanding of the technical skills introduced in class. Students applied the skills taught through writing exercises, oral presentations, and group activities. Importantly, candidates learned and understood their institution's credit culture and were introduced to lenders and senior management through meetings and events. Professional development and future career progression were key elements of these programs. A critical aspect of these programs was the identification and building a talented pool of future leaders.Over the last 5 years banks began to re-introduce in-house training programs as realization that exclusive reliance on on-line and external training programs were insufficient to meet the ever-growing complexity of today's banking environment. Banks need talented and highly skilled employees that not only possess the technical or hard skills necessary for credit analysis but also possess the soft skills necessary to assess credit risk. Soft skills include:· Creativity,· Critical thinking, · Collaboration, · Communication,· Problem solving,· Time management,· Active listening, and· LeadershipMore recently, an emphasis is being placed on soft skills development in addition to analytical skills as Companies identified these competencies as key to the success of young workers in the 21st century workplace. When choosing between two seemingly equal candidates, organizations are now prioritizing "soft skills" as the key differentiator. In LinkedIn's Global Talent Trends report, 92% of talent acquisition professionals reported that soft skills are equally or more important to hire for than hard skills. And 89% said that when a new hire doesn't work out, it's because they lack critical soft skills.The new versions of in-house training programs now span a period of two years on average and offer a rotational component through allied departments which expands the breadth of the curriculum and allows a fuller understanding of the entire lending process. They also combine advancements in technology-based training platforms to teach the base technical skills allowing more time to incorporate the soft skills necessary for long-term career success.Infrastructure costs to re-build these programs will be offset by the availability of on-line training platforms, increased ability to skillfully assess risk and make high quality lending decisions. The re-emergence of in-house training programs blended with the judicious use of on-line training and external resources will allow development of a cadre of highly skilled commercial bankers and future leaders. BCTechnological advancements enabled greater reliance on computer-aided training to lower training costs and reach a wider audience
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