Investing in the Future of Arkansas Banking

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Internship Program!!

Growing an industry means not only growing your bottom line, but also growing your people. With community banks across the state, and the nation, in a state of transition, now is the time for banks to turn a focus to investing in human capital and grooming the next generation of bankers. With growing concern about a lack of qualified young people interested in the banking profession, the Arkansas Bankers Association, in partnership with DD&F Consulting Group, has developed an internship program that identifies qualified candidates from colleges and universities throughout the state, evaluates their interests, and connects them with Arkansas banks who are looking for qualified interns. “We knew that in order to attract and keep Arkansas’s top talent in banking, we needed to invest in the future of our industry,” said Barry Jackson, SVP and Chief Operating Officer of the ABA. “There are numerous internship opportunities across our state in companies such as KPMG and Deloitte, that are aggressively courting the same individuals that we need in our industry. For this reason, it was critical for us to create a program specifically for banking and throw our name in the hat.” Jackson continued, “The ABA is fortunate to have a network of other bank associations across the country that have similar programs with varying degrees of success. We listened to what these associations suggested and to what our bankers wanted to build what we believe is a win-win, for both our banks and future bankers.” Launched earlier this year, the ABA internship program provides financial institutions with access to a workforce that is genuinely interested in the banking industry, dedicated to their professional development, and looking for an opportunity to gain a competitive edge by growing their resume and making valuable connections in their field. The ABA’s partner in this initiative, DD&F Consulting Group, has reached out to college professors and staff of schools across Arkansas and has been invited to speak to student classes, reaching almost 400 students to date. Schools that have participated include John Brown Arkansas Bankers Association, DD&F Launch Internship Program

University, the University of Arkansas, Arkansas State University, and Ouachita Baptist University. Interested students may apply after the class meetings or via the ABA website. “We have found that the professors, such as Dr. Tim Yeager, ABA Chair of Banking at the U of A, are extremely supportive and welcome what we are doing,” stated Randy Dennis, President of DD&F. Dennis has been actively involved meeting with instructors and students on behalf of the ABA. Dennis continued, “We have been encouraged by the talent and interest of these young people when we discuss banking as a career. Prior to this, banking wasn’t even on most student’s radar and they were being aggressively courted by leading national financial and accounting

firms that could very well take them out of Arkansas. Now they are aware of the opportunities in banking in our state.” “With the commitment of the ABA and our Arkansas banks to this internship program, we are taking proactive steps to generate awareness for our industry and to create our industry’s future success. It is an energizing and rewarding opportunity for DD&F to be involved in this process, and to know that we are helping to build the leaders of tomorrow,” Dennis said. Through these internships, employers will be able to observe and evaluate interns in their work environment, giving them the opportunity to consider a range of talented employees for long-term employment following graduation with no commitment. This program is an excellent resource for member banks to locate, recruit, and cultivate a new generation of skilled, enthusiastic, college educated workers. Banks with an interest in hosting an intern may contact Jackson at barry. jackson@arkbankers.org to further discuss opportunities and the specific needs of the bank. Once a student has applied, Association staff will do a bit of “matchmaking” — finding the right fit between a candidate and bank in terms of location and interest. Depending on the needs of a bank and the interests of the candidate, each internship may take a different path, but the ABA, with the help of DD&F Consulting, has put together a program framework to help meet academic and applied learning needs. Interns begin this 8-10 week program by planning career goals and objectives under the direction of an academic advisor, ABA faculty contact, and their bank mentor. While most students will have a primary focus (i.e. accounting, marketing), it is recommended that the intern work in varying business areas as a team member, to better understand the processes of the banking industry. This diverse training will provide interns with hands on experience at a financial institution, and a greater understanding of career options that the Arkansas banking industry can offer. “We need to get students excited about banking,” Jackson said. “There are so many opportunities in our industry that go beyond the traditional banking positions: accounting, operations, lending. With technology intertwined in our everyday banking lives there are a host of possibilities for today’s talented underclassmen.” He also noted that many interns have never worked in the corporate world, so they can bring a unique viewpoint and energy to our institutions. Likewise, the opportunity to interact face to face with community members, network with banking professionals, and immerse themselves in the practical application of techniques and ideas learned during college will be an immeasurable asset for interns.