- CMA's independent survey scores banks on quality of service
- VTB reaches agreement on the acquisition of Bank Vozrozhdenie
- House purchase activity slowed in June but remortgaging activity remains high, says UK Finance
- FCA makes it easier for customers to use and compare current accounts
- FreeAgent secures Open Banking registration from FCA
- New FCA rules double pressure on traditional banks to provide seamless service, says Intelenet
- Deutsche Bank Wealth Management steps up growth plans expired
- DevOps adoption will accelerate over the next two years in the financial services sector, finds Claranet expired
- NatWest and RBS launch 2018 Student Account expired
- Fundsquire hires new UK Managing Director expired
- Robo-advice will offer competitive advantage to traditional wealth managers, says GlobalData expired
- RBS launches the ‘100 Women’ event series expired
12th June 2018
Bank of America to hire 10,000 people from low- and moderate-income communities
The Consumer and Small Business division of Bank of America is to hire 10,000 individuals from low- and moderate-income neighbourhoods over the next five years. Through its Pathways programme, the company is working with non-profit partners to provide professional skills training and career pathways for members of the communities the bank serves.
“Our business is based on client relationships, and we continuously seek great people in our financial centres and contact centres to build those relationships locally,” said Dean Athanasia, president and co-head of Consumer and Small Business. “By hiring from the communities we serve and helping our teammates develop their careers at the bank, we are helping our clients – and employees – lead better financial lives.”
Working with national non-profit partners, Bank of America is building a pipeline of local talent to connect to sustainable jobs. Some partners, such as ‘Year Up’ and ‘UnidosUS’, empower career-ready individuals to gain an entry point to full-time employment. Others, like ‘Boys & Girls Clubs of America’ and ‘Urban Alliance’, provide opportunities for younger individuals to gain valuable skills for a future career.
For participants who accept a position at Bank of America, their training comes through The Academy, Bank of America's training and career development programme that supports more than 66,000 Consumer and Small Business employees. The Academy offers instruction from subject matter experts, dedicated training time, peer mentors, immersion programmes, hands-on experiential learning, and innovative digital tools that encourage employees to take personal ownership of their careers.
“The Academy is like a university within the company that instils our client-centric culture and guides our teammates throughout their career, not just in carrying out their job,” said John Jordan, head of the Academy and Advisor Development at Bank of America. “By investing in developing our current and future workforce at all points along their career journeys, we deliver on being a great place to work.”