BANKSETA AR 31 AUGUST

PERFORMANCE INFORMATION

Partnerships that concluded in 2021 were with the University of the Witwatersrand (digitisation and technology with special emphasis on cyber security and mapping of occupations), Durban University of Technology (4IR with emphasis on financial technology) and Rhodes University (development of a monitoring and evaluation framework for all SETAs). Research partners provide regular opportunities for the BANKSETA to interrogate and scrutinise the research and provide regular feedback on milestones reached. This is especially important for a fast-moving sector such as banking. Interesting findings have emerged from this year’s research for the sector skills plan. 2022 saw a decline of nearly four per cent in employees in the provinces that have the highest numbers of bank employees (from 196 402 in 2021 to 188 589 in 2022). This could be due to several factors, although research will need to be done to be sure of them. There has also been a rise in levels of education. This could be due to the various programmes offered by BANKSETA and its partners. Occupations that are declining include administrative secretaries, bank tellers and financial analysts, in favour of more digital occupations. In the case of financial analysts, the decline could be attributed to a change in the skills required. Another finding is the lack of transformation in the sector, with the number of African people occupying professional and managerial positions declining. This is in line with the findings of research by the Department of Employment and Labour. White males and Indian people remain dominant in managerial and professional positions in the sector.

Turning to occupations, mathematics has become an essential basis for all occupations in the sector. Skills needed are IT, coding, analytics, artificial intelligence, blockchain, cyber security, and risk and forensic management. Emerging occupations in high demand include data analysts and scientists, artificial intelligence and machine learning specialists, digital marketing and strategy specialists, process automation specialists, business development professionals, digital transformation specialists, information security analysts, and software and applications developers. At the same time, however, the sector still needs a good understanding of client behaviour as the client of the 1990s is different from today’s client. People skills remain important, as business leaders who do not have people skills do not succeed. Other high-level skills needed are critical thinking, problem-solving and conflict resolution. The department’s strategic focus for the year ahead will be to engage with the sector to continue to gather evidence-based research on what skills and occupations are needed. The BANKSETA is engaging with the sector to be transparent so that the process continues to upskill people in their current occupations to what will be needed for the sector to remain competitive.

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PART B: PERFORMANCE INFORMATION | BANKSETA ANNUAL REPORT 2021/22