Julie Pratten

MELTA 2015

Munchen, 13 June 2015

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Part 1 :

Introduction

Developments in Banking English

• Pre and post financial crisis

Outline

Outline

Why finance professionals need to upgrade their

performance in English

Developments/Problems

Key competences then/now

Focus on learners:

Challenges

Solutions

Materials

Overview

front office operations

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client specific issues

local banking activities

ITF transactions

Globalisation Deregulation

Cross borderFree market

activities

Reciprocity Harmonisation

Overview

New legislation

Tighter banking supervision

Basel II accord

BIS cooperation

Harmonisation

Transparency

Challenges

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Then along came the global meltdown

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Challenges

•Sustainability?

Clients looked for alternatives

•Accountability?

Anti banking initiatives

•Responsibility?

No confidence in banking industry

Challenges

New terminologyThey need active

listening skills

Emphasis on

improved

performance in main

4 skills

Need to be pro-active

/more interactive

Challenges

Challenges

I can’t say what I

want: I just don’t

have the words.

I don’t have

enough specialist

vocabulary …Explaining

complicated

situations is

trickyMy

presentations

are too wordy /

I can’t use KISS

principle

I can’t understand

native speakers.

They use

expressions I’ve

never heard .

I don’t know how

to outline

conditions &

procedures

key competence solutions

Combined performance skills plus

‘New’ Financial terminology

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key competence solutions

Bank stress tests

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Risk-weighted assets

Forensic accounting

Bankruptcy-related problems

Fraud and security issues

Relationship banking

Basel II developments

Technological shift

ICFE course

key competence solutions

http://www.deltapublishing.co.uk/titles/bu

siness-english/absolute-banking-english

http://www.deltapublishing.co.uk/titles/business-english/absolute-banking-english

http://www.deltapublishing.co.uk/titles/business-english/absolute-banking-english

Recommendations

•Self study with exam book Option A

•Self study with weekly Skype coaching sessionsOption C

•Self study with trainer monitoringOption B

Recommendations

•A combo of self study/extensive/intensive short courses

withblended course modules

Option

D

For key communicators

TED TALK

by Halla Tomasdottir

Author Insights

English for international

banking post crisis

“ The words “banking” and “crises” are

natural bedfellows. If love and marriage go

together like a horse and carriage, then

banking and crisis go together like Oxford

and the Isis, intertwined for as long as

anyone can remember ”

-- Mervyn King

- the impact of the global banking

meltdown on English in the financial

sector,

© 2013 1

English for international banking post-2008

Julie Pratten, author of Absolute Banking English, discusses the impact of the global banking meltdown on English in the banking sector.

Since the global meltdown of 2008, it has become more important than ever for financial

experts to be able to deliver a coherent message in English. With confidence in bankers at

an all time low, they must go the extra mile to convince their clients, their investors, and

their shareholders that they are competent. At the same time, finance has become the

focus of daily conversation, hence most business professionals need to have some

knowledge of financial English to be able to communicate in this area.

Even the general public are much more clued up about finance. The man is the street knows

many specialist terms and understands quite complicated banking scenarios. Toxic assets,

sub-prime  mortgages,  risk  asset  weightings,  quantitative  easing;  you’d  be  surprised  but  all  

these terms have even been featured in tabloid newspapers accompanied by cartoons of

Helicopter Ben; an image of the Governor of the US Federal Reserve, Ben Bernanke,

throwing bundles of banknotes from a helicopter to bailout the ailing economy. In the UK,

people used to be rather complacent about the flaws of other  countries’  banking  systems.  

When they heard Greece was in trouble, they presumed it was only other countries whose

bankers offered highly dodgy credits (in terms of risk) until someone twigged that the cross-

border aspect, i.e. systemic risk, had a domino effect on all banks and can have a

devastating impact on the economy.

In  terms  of  global  communication,  bankers’  enhanced  knowledge  of  financial  English  and  

ability to express themselves fluently and accurately is the key to gaining a competitive

edge. Some of the main issues that have been constantly discussed in the business and

banking community have been responsible lending practices, accountability and

transparency. In short, this means banks have to be more cautious in their lending decisions

and in the case of negligence, they need to own up and face the consequences of their

mismanagement. Absolute Banking English stimulates discussion on a range of sticky

scenarios that have arisen where the finger can be pointed at bankers, and challenges them

to defend their corner.

Author Insights