SEPTEMBER - 20228MY OPINIONIN MY OPINIONINSLOWING DOWN TO MOVE FAST ­ CULTURE AS A COMPETITIVE ADVANTAGEBy Jeff Semonovich, CIO, Western Alliance BankIn the age of real-time everything, a people-first culture is indispensable The appetite for technology innovation in financial services is limitless, and Banking CIO Outlook readers know the focus on speed is ever-increasing. Evidence is everywhere: faster payments, real-time cores, open banking, Banking as a Service (BaaS), blockchain and digital assets, and fintech disruptors upending expectations for digital experience, speed and convenience.As CIOs, we shouldn't let the expectations of driving continual technology innovation distract attention away from the equally, or arguably more, important aspect of our roles: investment in our people and culture and establishing a clear set of priorities that guide their success. At Western Alliance Bank, we define our culture with five core values: Integrity, Creativity, Passion, Excellence and Teamwork. Teamwork is all about people and relationships, and a culture that fosters a highly collaborative community of engaged, ego-free professionals who are empowered to contribute their very best.I recall during our pre-pandemic preparations, as we were readying technology to support a fully remote workforce, we had a team of all IT disciplines in a command center responding to a myriad of issues and challenges, making decisions on the fly to "make it happen." The team dispersed and began the work. Then, shortly afterward, someone who was not a member of the VPN team came up to me and said, "What if we approached it this way ...." She described an approach that saved time and effort while still achieving the outcome that we were after. We enthusiastically adopted her idea. A people-first culture is inclusive and empowers individuals to contribute without boundaries. It also allows us to slow down, see the alternatives and then move faster. When technology works, it's invisible Being client-obsessed is part of our "People, Performance, Possibilities" ethos. To put that into practice, our focus is on providing a seamless client and employee experience at every touchpoint. After all, our clients and our people don't generally Jeff Semonovich is Chief Information Officer for Western Alliance Bank, Member FDIC, a $60 billion national business bank named #2 best-performing of the 50 largest public U.S. banks for 2021 per S&P Global Market IntelligenceJeff Semonovich
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