What A Vice President Education And Social Impact At A Credit Union Wishes They Had Known Before Entering The Credit Union Industry
Amanda, a VP of Education & Social Impact, wishes someone had highlighted the overwhelming amount of banking acronyms beforehand, noting that "the same acronym can definitely mean different things" across industries, such as in education; furthermore, Amanda underscores the importance of understanding the regulatory and compliance aspects of the banking industry due to the heavy "government initiated controls".
Financial Institutions, Regulatory Compliance, Communication Skills, Industry Acronyms, Banking Industry
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Amanda Garcia-Merz
Vice President, Education & Social Impact
California Credit Union League, Nevada's Credit Unions and the Utah Credit Union Association
Sacramento State
English, Writing & Education
Finance (Banking, Fintech, Investing)
Education
Worked 20+ Hours in School, Transfer Student
Video Highlights
1. The banking industry uses a lot of acronyms, and it's important to understand them and avoid using them when speaking to people outside the industry.
2. Acronyms can have different meanings in different industries, so it's important to be aware of the context.
3. Understanding the banking industry's regulatory and compliance landscape is crucial because failing to comply with government regulations can shut down an institution.
Transcript
What have you learned about this role that you wish someone would have told you before you entered the industry?
There are a lot of acronyms in banking. It's important to take the time to understand them and ensure you're not using jargon that others won't understand.
As a former educator in K-12, I've seen how the same acronym can mean different things in different industries. I wish I'd had more understanding of financial institutions before taking this job.
However, it's not that important. I think it's crucial to take the time to learn what the banking industry is like if you're interested in that type of work. The regulatory and compliance aspects can shut down an institution if you're not following government-initiated controls.