What An Assistant Vice President Relationship Manager In Banking Wishes They Had Known Before Entering The Banking Industry
Claire, an Assistant Vice President, Relationship Manager in banking, wishes someone had emphasized that "nothing's ever permanent" in the industry, citing constant changes in compliance, regulatory requirements, and major events like the PPP initiative and bank failures as examples of the dynamic landscape. This highlights the need for adaptability and resilience in banking careers.
Industry Realities, Adaptability, Change Management, Financial Regulations, Economic Events
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Claire Hunn
Assistant Vice President, Relationship Manager
Banking Industry
University of San Diego
University of Alabama - Masters of Science, Marketing
Business & Related
Finance (Banking, Fintech, Investing), Real Estate
Sales and Client Management
Video Highlights
1. Banking is subject to constant change, including compliance and regulatory requirements.
2. Government initiatives like PPP can significantly impact the banking industry and require adaptation.
3. The banking industry can experience instability, as evidenced by bank failures and acquisitions.
Transcript
What have you learned about this role that you wish someone had told you before you entered the industry?
What have you learned about this role that you wish someone had told you before you entered the industry? I think one of the biggest things I've learned is that nothing is ever permanent in banking. Things are constantly changing, whether it's compliance or regulatory requirements. There's always something.
The banking industry in the last five years, for example, saw us go through PPP in 2020. That was a big initiative to help small businesses have funds to keep their lights on and payroll going. That was an insane time.
Then, in 2023, there were bank failures. Banks were acquired and merged with other banks that were buying them to dig them out of the hole, and some just basically went under. So, knowing that nothing is ever permanent in that regard and that things are ever-changing is important.
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