South Shore Bank Credit Analyst Apprenticeship Program launched
The Executive Office of Labor and Workforce Development, the Massachusetts Bankers Association and the South Shore Bank recently celebrated the launch of a learning program for credit analysts at the bank’s headquarters in South Weymouth.
This program is part of growing learning opportunities in expanding industries, which include healthcare, technology, biotechnology / life sciences, banking / finance, and advanced manufacturing.
A partnership between the EOLWD and the MBA has led to a nationally recognized learning program for credit analysts, which has been registered by the Massachusetts Division of Apprentice Standards. The program started with 16 apprentices from Commonwealth banks, including SSB, BankGloucester, BayCoast Bank, Centerville Bank, Reading Cooperative Bank, Rockland Trust, The Cooperative Bank of Cape Cod, Unibank and Westfield Bank. This first program runs until October 21, 2022.
“As someone who spent 30 years in the financial and banking services industry before my life in the public service, I am truly excited about the potential of this new apprenticeship program,” said the Secretary of Labor and the Workforce, Rosalin Acosta. “Commonwealth banks need credit analysts, and this learning presents a good career path in commercial lending for those who want to learn new skills and make a living at the same time. “
The credit analyst apprenticeship is designed to fill skills gaps; provide banks with the opportunity to build a diverse and skilled workforce, especially for women and people of color; and increased retention in the industry. Combining 150 hours of related technical instruction with 2,000 hours of on-the-job training with a mentor at each bank, the technical education component of the apprenticeship is led by Jeffrey Johnson, senior consultant at Bankers Insight Group in Atlanta . He teaches for 22 state banking associations in the United States and lectures internationally.
“The Massachusetts Bankers Association is delighted to have been selected to recognize the apprenticeship of the credit analyst in banking, launched this year after several years of planning and considered the first of its kind in the country,” said Kathleen Murphy, President and CEO of the MBA. . “Through this registered learning program, we can help our members attract diverse talent from their communities to rewarding careers in banking. ”
“I am delighted that the credit analyst apprenticeship has been launched,” said bank CEO James Dunphy. “This program is something that I have supported and supported since its inception. In fact, three members of the first cohort are employed at South Shore Bank. I look forward to seeing programs like this grow to benefit our industry and our communities.
According to Jane Bowman, Marketing Director of South Shore Bank, the institution got involved in the program because of the belief that banking is a career that leads to countless opportunities. Helping create a talent pool for the financial services industry while promoting workers in underserved communities is good for the industry.
The event’s lecture program included Acosta, Dunphy and Murphy, as well as Tanya Duncan, Executive Vice President of MBA Revenue and Strategy, and current apprentices Lourenco DaSilva and Jessica Lee. Attendees included staff and board of directors from the three organizations, community members, apprentices and representatives from the office of State Representative James Murphy, D-4th Norfolk, Chairman of the Joint Committee on financial services. Acosta also presented Dunphy and Murphy with proclamations signed by Governor Charlie Baker, Lieutenant Governor Karyn Polito and William Galvin, Commonwealth Secretary, recognizing Massachusetts Apprenticeship Week.