Shortage of Qualified Personnel in Panama's Banking Industry

The annual growth of 13% of the International Banking Center has unveiled staff shortages, mainly in specializations such as compliance, risk and auditing.

Monday, July 15, 2013

Roberto Gonzalez, in his article in Prensa.com, explains that "the first consequence, as related by the bankers themselves, is the occurrence of cannibalism between businesses and employees salaries are being raised."

"The industry is specialized and requires training staff in new skills. For example, in compliance, risks and auditing," said Rolando de Leon, a member of the board of the Banking Association of Panama.

"We have to think about importing specialized executives" who could train local staff, said Oscar Luna, general manager of Banco de Occidente (Panama) during the Panama Banking Convention XXII.

Luna lamented that the sector will not benefit from hiring foreign personnel, according to him, in the case of the multinationals which are installed in Panama, it takes one afternoon to approve migration procedures for an executive and his family, however, foreign banks have had to carry out more tedious processes.

According to De Leon, the International Banking Institute, which has been in existence since 1984, should establish a program to train more people in the areas where competition has led to many professionals moving from one institution to another.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Lack of Technical Professionals in Panama

June 2013

Panamanians are not interested in technical careers but rather social ones, as reflected by the short supply of professionals to meet the needs of the industry.

This issue was discussed during the forum 'maritime sector and the impact of human resources in its development ", organized by the International Maritime University of Panama (UMIP by its initials in Spanish).

In Panama People will Change Jobs for $25 More

July 2012

Lack of skilled workers is making it necessary for headhunters to look for staff in other companies, generating very high job instability.

In Panama losing your jobs or simply taking a sabbatical, is not a problem. Anyone with the minimum qualifications can get a job any time they want.

Panama Keeps Generating Jobs

December 2011

The Net Employment Outlook for the first three months of 2012 is +24%, putting more pressure on a market with a serious shortage of qualified human resources.

While efforts are being made to the train people locally, foreigners continue to come into the country to meet the demand of international companies based there.

Surviving Skills Shortages

July 2011

The shortage of skilled labor has led Panamanian companies to get creative when recruiting staff.

Companies with a need for skilled labor have reached agreements with other companies to share staff, provided incentives to employees to recommend others for vacant positions and have even retain staffed who have officially retired.

ok