Major bank announces massive IT recruitment drive

The bank is looking to hire 600 technology specialists to drive its technology transformation

Major bank announces massive IT recruitment drive
The National Australia Bank (NAB) recently announced they would be cutting 6,000 positions over the next three years, representing 18% of the bank’s 33,400 workforce.     

However, NAB is also currently looking to hire 600 technology specialists in software engineering, data, architecture and security.

The national and global recruitment drive is part of the bank’s plan to create up to 2,000 new jobs by 2020 to meet the changing needs of customers.

NAB aims to move 60% of its business online over three years and will invest an extra $1.5bn focused on the technology transformation and simplifying internal processes.

Chief Technology and Operations Officer Patrick Wright said NAB is looking for the best talent in Australia and the world to come and join its technology and digital teams.

“We want the top talent in the industry to come and join us, as we change dramatically to become the very best bank we can be and give our customers the products and services they demand and deserve,” said Wright.

“We know this is an ambitious target and acknowledge the war for talent is intense, but these are the essential skills and roles we need in order to deliver our plan.

“This builds on three years of innovation at NAB, including the establishment of our innovation incubator, NAB Labs, and our innovation fund, NAB Ventures, the launch of Quickbiz which provides our business customers with lending decisions in seconds, and the continued roll-out of Customer Journeys, which is dramatically changing how we deliver improved products and services to our customers.”

The idea is to rebalance the shift from outsourced suppliers based in Australia and overseas, to bring talent back inside the bank in NAB’s Australian offices to increase competitive advantage.

“We’re looking at the skills needed inside and outside our business to make sure that we can run our systems and service our customers as best as possible,” said Wright.

The major bank recently announced a record $4.5 billion investment into the bank over the next three years - with much of that funding directed to technology and digital priorities.

“This significant investment will help change the way we provision technology services, which is critical to delivering more effectively to balance innovation with resilience, and speed with security,” said Wright.

“Our people are integral to the success of NAB, and this investment ensures they are enabled and backed to deliver their very best.

“We understand what the fintechs across the world are doing, and we think we can do better, but we need to move now, invest in the right systems and people, and change dramatically.”

Research in October by Robert Half found the overall majority (92%) of Australian CIOs are planning to increase their contract IT headcount by an average of 21% over the next 12 months, highlighting the possibilities for IT professionals on the Australian employment market.

CIOs within large companies are leading the way as they’re planning to increase their temporary IT headcount by an average of 25%, followed by medium-sized (23%) and small companies (17%).

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