Rowena F. Subido is a seasoned HR Executive with over 35 years of experience across local and multinational organizations, including 20 years in the financial and banking sector. She has led HR functions at Citibank N.A. and Citi financial, and currently chairs the Yuchengco Group of Companies HR Council. She holds a BSc in Psychology and a Professional Certificate in Customer Experience.

In a conversation with The Global Woman Leader Magazine, Rowena shares her insights on how HR strategies in the banking industry must evolve amid global economic uncertainty and rapid technological advancements. Drawing examples from RCBC, she discusses the integration of emerging technologies, financial inclusion, and preparing employees for a tech-driven future.

Given the current landscape of global economic uncertainty and rapid technological advancements, how should HR strategies evolve to address the increasing demand for cross-functional skills and agility in the banking industry?

Drawing from RCBC’s approach to address the increasing demand for cross-functional skills and agility, the focus has primarily been on upskilling and reskilling of its employees. We have to build capabilities from within and create a new mindset. In support of its people transformation initiative, the bank launched the RCBC University with three major pillars: (1) The RCBC Leadership Academy, (2) The RCBC Digital Academy, and (3) The RCBC CX Excellence Academy.

To develop the next generation of leaders, RCBC reintroduced its Leadership Academy and launched new courses such as Rebranding of the Officers Development Program to DELTA (Digital Excellence and Leadership Training Academy); Establishing the Wealth Management Academy; Creation of the Service & Reserve Officer (SRO) Bootcamp to train a pool of branch service officers; Continuing and enhancing the Middle Management Development Program (MMDP) for our middle managers to prepare them for future senior roles.

“The RCBC Way” was also rolled out, a re-training on the importance of the brand to the business and its customers.

In an era where digital transformation is reshaping financial services, what are the most effective ways for HR to facilitate the integration of emerging technologies into traditional banking roles without causing disruption?

In response to the current global economic uncertainty and rapid technological advancements, HR strategies in the banking industry must evolve by prioritizing upskilling and reskilling. Building internal capabilities and fostering a new mindset are essential. A people transformation initiative can be supported by establishing a comprehensive internal university with key pillars focused on leadership, digital proficiency, and customer experience excellence. Efforts to develop the next generation of leaders should include rebranded development programs, specialized academies, and boot camps for key roles. Additionally, reinforcing the importance of brand alignment with business goals and customer expectations through targeted retraining is crucial.

In light of the growing importance of financial inclusion and microfinance, how can HR drive initiatives that effectively bridge the gap between traditional banking services and underserved communities, ensuring equitable access and support?

RCBC has a microfinance arm that serves the unbanked and underserved segments of society.  Digital platforms, such as DiskarTech – RCBC’s own all-in-one online banking services app – are also used to efficiently address the requirements of this market, joining forces with partners such as the Department of Agriculture for loans to small farmers and fisher folk.

The bank invests in training and developing and upgrading the skills of employees assigned in this role, equipping them with Environmental Social Management System Policies to promote sustainability and inclusivity. eLearning modules were also updated annually to elevate employees’ understanding of the Bank’s role in Environmental, Social, and Governance and their individual responsibilities toward the community and the environment.  

As financial institutions increasingly focus on customer-centricity, what HR practices can be adopted to ensure that employees are aligned with and actively contribute to the organization’s customer-first strategies?

To strengthen customer-centricity, a Customer Experience Excellence Academy was established, transforming the organization’s culture towards digital and customer focus. As part of this initiative, 30 officers, including senior leaders, earned a Professional Certificate in Customer Experience from a UK-based academy. A Customer Excellence Award was also introduced to recognize employees who deliver outstanding service. To further embed customer-first strategies, customer segmentation and personalization were implemented at scale, with squads led by CX-certified employees. These teams drive a culture of customer obsession, auditing and redesigning key journeys to elevate both customer and employee experiences across the organization.

In an era where banking institutions are navigating economic uncertainties and rapid technological advancements, what are the key components of a resilient workforce strategy? How can HR leaders effectively align workforce planning with long-term business objectives?

RCBC has an existing Workforce Readiness Program that is unique given the speed of its execution, the in-place digital solutions, and the deep involvement and personal concern of top management. The RCBC Rapid Empowerment and Assistance Delivery (READY) was already in place for quite some time, with provisions such as building business resilience through employee clustering, disease spread prevention and safety, and a mobile and remote workforce policy. This enabled the Bank to spot and take early action on opportunities just like what happened during the pandemic. Employees were able to transition quickly and seamlessly continue on with their fighting form.

In 2022, People Management Association of the Philippines (PMAP), the country’s preeminent HR organization, awarded RCBC with its Regional Exemplar for Strategic HR and People Program of the Year for the Bank’s Workforce Readiness Program.

With the trend towards increasing automation and AI in banking operations, what proactive steps should HR take to prepare employees for a future where their roles are increasingly augmented by technology, and how can they ensure a smooth transition?

Digitalization and efficient use of Artificial Intelligence will continue to be essential in analyzing metrics to recognize trends, anticipating future requirements, and coming up with data-driven decision-making.  HR should always have that in mind when sourcing its manpower requirements to be able to deliver the most professional, cost and time efficient output.

HR should also continue its commitment to valuing employees by investing in their learning, development, and advancement. This involves opportunities for training, workshops, and mentorship programs for the benefit of the employees' future, which will redound to the success of the organization.  Institutions should then focus on empowering its employees through programs on Resilience, Digital Transformation, and Sustainability.