2018 Chartered Banker Professionalism Index
The second annual Chartered Banker Professionalism Index developed by Nottingham University Business School and the Chartered Banker Insitute (CBI) has suggested that bankers who are members of a professional body report significantly higher levels of pride in their work than bankers who are not.
Based on responses to the first set of statements, the study found the mean level of professional pride across all areas of banking to be 74.55 out of a possible 100. This compares to 22% of bankers (who may or not be members of a professional body) occupying the highest levels of pride in a recent Chartered Banker: Professional Standards Board (CB:PSB)/YouGov plc survey.
Enthusiasm for promoting a banking career
One further question was added to this year’s survey: “I would be proud to provide a talk at my children’s school about the opportunities of pursuing a career in banking”. The high Index Score for this question of 74.25 underlines that there is much enthusiasm among the banking sector for sharing their expertise and experience with possible future bankers and for emphasising positive aspects of a banking career.
Dean of the Business School, Professor James Devlin, oversaw the research and said that this suggests “extremely high” levels of pride.
Nottingham University Business School's MSc Banking and Finance holds CBI Centre of Excellence accreditation - the highest award available for banking professionals.
Professor Devlin said:
“These results are most promising, particularly as this is the second year running where bankers are expressing high levels of pride in their work. We now have more evidence that bankers’ pride is an enduring feature of the profession. As we mark the ten year anniversary of the onset of the financial crisis, and given all of the negative commentary in the intervening period, it would be understandable if pride was decreasing, but the opposite is true, with a slight increase in bankers’ pride being apparent.
“What is particularly encouraging about these results is the desire to spread the word and actively promote a career in banking to a younger generation, which is vital to the sector and we hope these levels of satisfaction will continue to rise.”
Simon Thompson, Chief Executive of the Chartered Banker Institute, added:
“To see this trend in professional pride among our members, increasing again this year, is extremely good news for bankers and customers; how can we expect customers and society to be proud of the contribution of banks and bankers unless we are proud of that contribution ourselves?
Despite the many challenges faced by banks and bankers since the global financial crisis and more recently, the pace of technological change, professional bankers have drawn strength from their professionalism.
In continuing to rebuild a banking profession the public can trust, we need to continue to develop and support the current and future generations of professional bankers who are rightly proud of their professionalism. Professional bankers – like the 33,000 members of the Chartered Banker Institute, share a positive social purpose that goes beyond more than simply maximising shareholder returns, supporting individuals, businesses and communities in the UK and, indeed, across the globe.”
Professor James Devlin
James Devlin is Dean and Professor of Financial Services Marketing and Consumption at Nottingham University Business School and a member of the Centre for Risk, Banking and Financial Services. His research interests include marketing and strategy, consumer behaviour, distribution, brand issues, policy issues and marketing and public policy issues in financial services.
About The Centre for Risk, Banking and Financial Services (CRBFS)
The Centre for Risk, Banking and Financial Services is a research centre based at Nottingham University Business School. Its aim is to produce world-leading research, insight and commentary focused on financial services consumers, markets and institutions.
About the Chartered Banker Institute
The Chartered Banker Institute is the oldest professional banking institute in the world. The Institute was founded in 1875, operates in all UK nations, and has a significant and growing international presence
The Institute has driven an agenda of ethical professionalism throughout its existence; promoting professional standards for bankers, providing professional qualifications for retail, commercial and private bankers in the UK and overseas, and offering professional membership to qualified individuals. The Institute currently has over 30,000 members and in 2017, over 175,000 individual bankers met the Chartered Banker: Professional Standards Board’s Foundation Standard.
Find out more about the 2018 Professionalism Index and the Chartered Banker Institute.
Posted on Thursday 13th September 2018