Employee recruitment can be a challenge no matter the location or sector. Finding quality staffers for Jacksonville banking jobs is no exception.
The Jacksonville region has 99 unique banking businesses, according to the JAXUSA Partnership, including larger offices for Ally and Bank of America and fintech operations such as Intercontinental Exchange and Deutsche Bank.
"There are nearly 20 major banks, insurance and investment services firms on the Fortune Global 500 List that have operation centers in Jacksonville," says Aundra Wallace, president of the JAXUSA Partnership. He sees area banks hiring at a measured, steady pace now versus rapid expansion.
This larger banking presence means that banks must compete for skilled talent.
"There is strong demand for professionals with the right skill sets and local market knowledge to support growing businesses," says Mike Phillips, North Florida commercial market president for TD Bank. "The biggest challenge is competition for experienced commercial lenders with specialized skill sets."
TD Bank has 25 commercial bank employees in Jacksonville and was looking to fill two open commercial lending positions.
The region has advantages for both employees and employers, with operating costs 20% to 30% lower than traditional East Coast financial hubs like Atlanta and Charlotte, Wallace says. The area also has a talent pipeline supported by its universities, a business-focused climate, and time zone alignment to major markets, he adds.
For Fifth Third Bank, which has 102 employees in the Jacksonville market, the next step is to hire for its retail network in the region, says Scott Daigle, Fifth Third Bank regional president. Since 2018, the bank has opened 85 locations around the U.S., with seven of those in Jacksonville and five more area locations planned through 2028, he adds.
The area itself attracts potential employees with a more affordable cost of living, beaches and entertainment.
"The market offers the advantages of a large metropolitan area without the congestion or cost pressures of other major Florida cities," Daigle says.
A focus on competitive compensation and benefits that reflect the market, along with a working environment that creates skill building and long-term careers, is a hallmark for TD Bank, Phillips says.
Drawbacks of the area include a growing amount of traffic and an infrastructure strain, Daigle says.
"There also can be misperceptions of Jacksonville from those who are unfamiliar with the area, which is why it's important that we promote the great qualities of the region," Wallace says. His organization does this through Find Your JAX, its talent attraction initiative.
"It's also important to support our local colleges and universities in developing programs that support the financial services industry and specialize in key areas such as fintech, data analytics and risk, to increase the number of graduates," Wallace says.
— By Vanessa Caceres