Empowering employees to tackle challenges

Ramani Kangaraarachchi

Changes take place globally in the Banking and Financial Services industry much faster than earlier.

We should convert these challenges into opportunities without remaining as spectators, Chairman and Managing Director, Andhra Bank India, said at the 12th convocation of Institute of Bankers Sri Lanka IBSL held at the BMICH yesterday.

Elaborating on key challenges such as operational and HR challenges, competition from foreign banks, universal banking, introducing highly sophisticated technology and financial inclusion he said, that empowering employees is one of the best methods to face the challenges.

“Human capital factor is more critical than ever before and it gives the most competitive advantage and therefore continuous training is necessary to motivate employees to manage the industry better,” he said.

Former Vice Chancellor of University of Moratuwa, Prof. Dayantha Wijesekere said that professional education is the master key for the future bankers and they have a major role to play in sustainable development of banking sector. He pointed out the importance of improving quality of education, public awareness and education funding development in different forms to maintain the sustainability.

Professor Wijesekere stated that some people believe that Ordinary level, Advance level and Degree programs are the main qualifications and there are no other avenues except those.

He pointed out that there are several avenues available and people should not stick to one avenue. In Sri Lanka there are 37 professional organisations under OPA and 17 organisations out of which are conducting study programs that paves the way for professional qualifications.

“Thirty per cent of banks in Sri Lanka are located in Colombo and 70 per cent located out of Colombo and it is necessary to reduce this imbalance,” he said.

Wijesekere proposed that this could be done through online modernised banking education. According to Acting Director General, IBSL, R. S. Goonetilleke banking diploma programs have been designed to cater to the current and future requirements of financial industry and to face the competition.