What Type Of Person Thrives In The Banking Industry According To A Vice President Compliance And Operational Risk At Large Bank
To thrive in the banking compliance and operational risk field, individuals must be highly adaptable and skilled negotiators, able to influence multiple groups by articulating the value proposition of new processes. The work involves extensive negotiation, constantly addressing questions like, "why should someone want to follow this process...what's in it for them?", ultimately aiming to improve customer treatment, data quality, and system automation while mitigating risk.
Negotiation, Communication, Problem-Solving, Project Management, Flexibility
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
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Traits
Karin Lin
VP, Compliance and Operational Risk
Large Bank
UC Berkeley, 2005
UCLA - Anderson School of Business / MBA
Political Science, American Studies
Finance (Banking, Fintech, Investing)
Finance
Honors Student, Scholarship Recipient, Pell Grant Recipient, Took Out Loans, Immigrant, Worked 20+ Hours in School, First Generation College Student
Video Highlights
1. Flexibility is crucial in navigating various negotiations, whether budget, project, or process-related.
2. Strong negotiation and communication skills are essential for persuading different groups to adopt new processes or changes.
3. Understanding the "what's in it for them" aspect is key to successfully implementing new processes and influencing stakeholders to work together for a common goal, mitigating risk for the bank.
Transcript
How would you describe people who typically thrive in this industry?
People who thrive in this industry have to be very flexible. They also have to be able to negotiate and speak up.
As I've mentioned before, there's a lot of negotiating going on. This can be about budget, project importance, or processes.
Questions arise like, "Why should someone follow this process that I or my team built? What's in it for them if they do this extra work?"
What does this mean for their workload and for the bank? Does it mitigate the bank's risk?
This ensures we treat our customers equally, leading to cleaner data, a better system, and an improved automated process. These are all conversations that must happen, sometimes across five or ten different groups.