By Kirstie McDermott
If you work in banking or financial services, you're probably back at the office, at least some of the time. Many of the nation's biggest financial institutions including UBS, Citigroup, Wells Fargo, HSBC and BNY Mellon began calling staff back in 2022, with most seeking to adopt flexible working policies.
UBS has decided to allow 10% of its 20,500 U.S. employees to work remotely all the time, with hybrid schedules on offer for three-quarters of its workers. At Citigroup, employees come into the office two days a week, and at Wells Fargo there is a "hybrid flexible model" available, which works out at a minimum of three days a week in the office.
One of the biggest naysayers of remote and hybrid working is JPMorgan Chase. The bank's CEO Jamie Dimon remarked last summer that, "I completely understand why someone doesn't want to commute an hour and a half every day. Totally get it... Doesn't mean they have to have a job here either."
JPMorgan Chase expects that just 10% of its 271,000 employees could eventually work from home.
Remote makes workers happy
Remote working can be directly linked to employee wellbeing. A 2022 study from Tracking Happiness found that the ability to work remotely increases employee happiness by as much as 20% and that going back to the office reduces that contentment.
A recent study from the University of Pittsburgh also found that being back at the office is no better for productivity, either.
So why are so many financial institutions insisting on it? The study's lead, Mark Ma, an associate professor of business administration from Pitt's Katz Graduate School of Business has the answer.
"One of the most common arguments management suggests is that they want to return to office because employee productivity is low at home, and they believe returns to office would help firms improve performance and ultimately improve the firm's value. That's the reason they give — but our results actually do not support these arguments."
Other reasons senior leaders give for wanting workers back may be more to do with perception. JPMorgan Chase's Jamie Dimon says there are "serious weaknesses" with virtual work, including slowed decision-making and a lack of "spontaneous learning and creativity".
Employees may beg to differ, and if your way of working has radically changed, a job move to a role where you are supported in the way you work best could be a smart move.
So, if you've weighed your options, The American Banker Job Board is a great place to start your search. It contains thousands of job openings, like the three below.
Account Executive — FinTech, Plaid, United States
As an Account Executive — FinTech at Plaid, your focus will be identifying and engaging with leading fintechs, building long-lasting relationships, and aligning solutions to their needs. You will also work with highest-value customers to identify new opportunities where Plaid's increasingly diverse range of solutions can add value to their business. You'll need experience in a new-revenue role, along with a strong track record of closing complex, high-value deals with specific expertise selling to fintech companies. Get the full application criteria.
Product Manager, Credit Cards, Robinhood, Remote
Robinhood was founded on a simple idea: that financial markets should be accessible to all, and it is building products and services that help create a financial system everyone can participate in. As the Product Manager, Credit Cards, you will be building the next generation of spending products for all Americans, starting with credit cards, driving never-before-seen products and features from concept to launch, to hyperscale. You will need a Bachelor's, Master's, or equivalent experience, along with at least five years' of product management experience building high-quality products, superb product and business sense, and excellent analytical and communication skills. Find all the details here.
Senior Banker, Bank of America, Okemos
Bank of America is guided by a common purpose to help make financial lives better through the power of every connection. In this Senior Banker role you'll uncover the personal banking needs of both individual and small business clients, either by phone or in person, by offering appropriate financial solutions and services as well as connecting them to specialists. You will proactively connect with clients through outbound calls, and execute consistent follow-up routines to meet their needs. You'll need the ability to effectively balance financial center performance, operational risk, and client relationship care. Additionally, you will have a minimum of one year demonstrated sales experience in a relationship-oriented and client-centric environment and are an enthusiastic, highly-motivated self-starter with a strong work ethic and intense focus on results, acting in the best interest of the client. Apply for this job here.
Want to make a move to a hybrid, flexible finance job? Discover your perfect fit on the American Banker Job Board
