Opportunities for Your Bank to Support the Banking Industry’s Talent Pipeline in 2020
As 2019 comes to an end, we are excited about providing opportunities to help the banking industry’s talent pipeline grow in the next decade. Banks across Virginia will again be hosting high school seniors for the VBA Bank Day Scholarship Program in March 2020 — an opportunity for high school students to learn about the industry, how banks support their communities and the variety of career opportunities that banking provides. More than 550 students participated in the 2019 program at 36 banks. A total of $26,000 in scholarships will be awarded to twelve students in 2020.
Next summer, college students will participate in the VBA Internship Program. Now in its fourth year, this program allows interns from across the state to participate in training and networking events, interact with the VBA Emerging Bank Leaders, complete a capstone project and presentation, and earn the VBA Certificate of Completion. This past summer, 32 interns from eleven different banks received their Certificate of Completion.
Virginia Tech has recently piloted an exciting new program, Credit Corps, in partnership with Atlantic Union Bank. The unique experiential learning program is aimed at enhancing students’ skills in credit risk analysis, business analytics, teamwork, and portfolio management. By participating in this program, students gain experience in banking and risk management by participating in actual loans with their bank partner, with real money from the Virginia Tech Foundation. Students will function as commercial loan officers with responsibilities including reviewing financial statements, interviewing management at the borrowing companies, identifying risk issues, and managing fund inflows and outflows, as repayments are made and new loans considered. In addition, students who complete the program will exit with a RMA Credit Risk Manager Certification.
"Credit Corps will prepare students for jobs and careers across a wide range of finance career paths and offer financial firms a pipeline of credit-savvy recruits with hands-on experience,” said finance professor George Morgan, who led efforts to develop the program.
Virginia Tech is looking for additional bank partners for the future of this program, specifically for the Spring 2020 semester. If you are interested in learning more about this program and understanding what a bank partnership entails, please contact Dr. George Morgan or Dr. Fred Hood of Virginia Tech.
Contact Monica McDearmon at the VBA for more information on any of these programs.