It's What You Know

I don't have to tell you that banking is changing. All you have to do is look around you - and review your job description.

The old adage of, "It's not what you know, it's who you know" doesn't hold true any more. All through the administration of the financial industry, clear up to the boards of directors, is the stark reality that if the officers that are given the responsibility for certain areas don't have the knowledge they need, the whole shebang is in big trouble.

That really came home to me a few weeks ago during the annual BANKERS' HOTLINE Security Officers Workshop in Philadelphia. Theoretically all those attending were Security Officers. But after everyone went home, we went through the evaluations and found titles that had absolutely nothing to do with security. Titles like Benefits Officer, Special Projects Coordinator, Retail Product Delivery Officer, Lending Officer, Branch Coordinator, Deposit Services Manager, and of course our share of BSA Officers and Compliance Officers.

The hard part about this is that even with all those other responsibilities, the person involved also had the security officer's position and liabilities. Our most experienced attendee had 37 years on the job in the security position. Our newest one had six weeks. Experienced or new at the job, these Security Officers almost universally spoke of the lack of funds and personnel.

The average time spent on the security function was about two to four hours a week for many in the workshop. How in heaven's name can a security officer do their job in that amount of time?

Of course we all know the answer. It's not the time spent on the job during working hours that even count here. It's the many hours at night, on weekends, in the early morning before anyone else arrives - that's when the work gets done.

Is it appreciated? Probably not. At least not until something goes wrong. Or until the news catches up with the board of directors.

The big news right now is robbery. It's on the TV, in the newspapers, in the magazines. It has the attention of the BOD. Who is the person they depend on to protect them against the horrors of a simple robbery gone wrong? That would be you - the Security Officer.

The news may just be an opportunity in disguise for you, Security Officer. Now may be the time to ask for the new alarm system you know you need. Or the training help. Or the extra pair of hands. You've become a valuable asset to your financial institution because of what you know. You know what it's going to take to thoroughly train your people and protect your institution.

Carpe diem!

Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 6, 5/97