NicoElNino - Fotolia
Singapore bank DBS is using artificial intelligence (AI) to screen applicants for wealth management jobs, with the aim of saving 40 man-hours a month.
The bank is currently hiring managers for its growing wealth planning business and is using a platform to automate pre-screening.
The platform, known as Jim (Jobs Intelligence Maestro), has been in pilot since April. It supports staff in reviewing CVs, collecting responses to pre-screening questions and conducting psychometric tests.
The platform gives recruiters more time to find candidates and interview them, as well as freeing up time to allow them to do more valuable work. Candidate can get real-time interaction with the recruitment platform 24 hours a day.
“Previously manual processes, such as posting screening questions, conducting psychometric assessments and tests, have now been fully automated.,” said James Loo, head of talent acquisition group at DBS. “This frees up our recruiters’ time so they can take on higher-value work.”
The system also overcomes the problem of scheduling interactions with busy candidates. “Our candidates are often busy during the day, and many of our recruiters end up working long hours to cater to their schedules,” said Loo.
The Jim platform, which was created by Singapore startup Impress.AI alongside DBS’s talent acquisition team, will learn to make better assessments of candidates as it goes on.
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One job applicant praised the bank’s use of technology to automate parts of its recruitment process. “DBS’s recruitment process demonstrates that it is serious about investing in technology to attract new talent, and will have the tools and resources necessary to help me serve my clients better,” said job applicant Brandon Goon. “This is very impressive, and it has made me more excited to join the bank.”
DBS will now roll out the system for recruiting wealth planning managers in its main markets of Hong Kong, China, Taiwan, Indonesia and India. It will also be used for other high-volume roles, such as the bank’s management associate and graduate associate programmes, where more than 7,000 candidates can apply for 20 just roles.