South African banks are hiring individuals with expertise in finance, information technology (IT), digital technology, and emerging risk advisory. <\/p>\n\n\n\n
These skills will be highly sought-after in 2024 due to the widespread adoption of digital technology.<\/p>\n\n\n\n
According to Nedbank’s latest results for the year ending 31 December 2023, Nedbank Money app clients reached 2.3 million in 2023, up by 16% compared to the previous year.<\/p>\n\n\n\n
The bank saw app transaction volumes increase 18% from 2022 and 315% from pre-Covid 2019, while digital transaction values reached R614 billion (10% increase from 2022 and 54% from 2019).<\/p>\n\n\n\n
FNB\u2019s digital channels also saw growth, with the app volumes on the FNB app up 14%. Standard Bank, meanwhile, recorded a 30% jump in digital transactions in 2023.<\/p>\n\n\n\n
As a result of the growing digital economy, FNB Human Capital Executive Donald Khumalo told BusinessTech that, in the rapidly evolving banking sector, “digital transformation is no longer a choice; it\u2019s an imperative”.<\/p>\n\n\n\n
“Financial institutions must embrace technology to enhance security, operational efficiency, and overall customer experience. <\/p>\n\n\n\n
“As a result, certain roles are becoming increasingly critical to the success of banks and their ability to adapt to this changing landscape,” he said. <\/p>\n\n\n\n
Nedbank added that digital transformation and fast-paced technological change, ongoing regulatory changes, and evolving customer needs are driving the demand for critical new capabilities and skills, both locally and globally.<\/p>\n\n\n\n
Considering this, South Africa’s big four banks – FNB, Nedbank, Standard Bank, and Absa – told BusinessTech that they’re actively looking for the following skills in 2024:<\/p>\n\n\n\n
The banks noted that experience in critical skills is advantageous for job seekers in the mentioned positions.<\/p>\n\n\n\n
Some of these skills include: <\/p>\n\n\n\n
Despite digital innovations, banks still require finance expertise and skills for their real estate operations, both at branch and corporate levels.<\/p>\n\n\n\n
Therefore, banks are also actively looking for the following:<\/p>\n\n\n\n
With these skills and qualifications in demand, FNB human capital executive, Donald Khumalo, noted that, although newly hired personnel vary year-on-year, FNB had facilitated approximately 2,000 external placements and 1,000 internal movements. <\/p>\n\n\n\n
Nedbank added that it hired 1,730 new employees, and an Absa spokesperson revealed that the group had an estimated 6,789 hires per annum, including internal transfers and promotions. <\/p>\n\n\n\n
This figure also includes an average of 3,468 external hires per annum.<\/p>\n\n\n\n
Additionally, over the past two years, as job markets have normalised post the pandemic, the Standard Bank Group has hired an average of 4,400 people annually.<\/p>\n\n\n\n
Adding to the growing recruitment numbers, all three banks added that they are talent-retentive and focus on increasing the job opportunities of existing employees.<\/p>\n\n\n\n
\u201cThere is a significant investment in reskilling and upskilling the existing workforce with critical skills needed to provide career growth opportunities, minimise job losses and build a flowing pipeline of talent in the long term,\u201d said Fuller.<\/p>\n\n\n\n
To view all the vacancies available in 2024, Nedbank<\/a>, Absa<\/a>, and FNB<\/a> encourage job seekers to visit their respective careers pages.<\/p>\n\n\n\n
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