DBS launches virtual recruiter to improve hiring efficiency

Singapore

DBS has launched a virtual recruiter to help the bank hire 40 per cent more wealth planning managers more efficiently this year to support its "rapidly growing" wealth management business.

The move will also help the bank save up to 40 man-hours per month, DBS said on Thursday.

The virtual recruiter, Jim, has helped to review resumes, collect applicants' responses for pre-screening questions, and conduct psychometric profiling assessments on candidates.

It has been in pilot since April this year.

James Loo, head of Talent Acquisition Group, Group Human Resources, DBS Bank, said: "Our candidates are often busy during the day, and many of our recruiters end up working long hours to cater to their schedules. A virtual recruiter, such as Jim, would lighten our employees' workload ... this frees up our recruiters' time so they can take on higher value work."

Jim is an acronym for "Jobs Intelligence Maestro", and was created by Singapore startup Impress.AI and the DBS Talent Acquisition team.

It is powered by artificial intelligence and will "learn to make better assessments in screening candidates" over time, DBS said.

Over the next few months, Jim will be available in DBS's core markets - Hong Kong, China, Taiwan, Indonesia and India - for wealth planning manager roles.

The virtual recruiter will also be made available for other roles such as the management associate and graduate associate programmes, which sees more than 7,000 candidates vying for 20 roles.

DBS is among many banks looking to automate more processes.

Earlier this week, a Financial Times report said that Citigroup's investment bank could cut up to half of its 20,000 technology and operations staff over the next five years, as "machines supplant humans at a faster pace".

Last November, UOB announced that it was employing two robot-like creations to reduce the time taken on repetitive and time-consuming jobs such as data processing. The robots, Amy and Eve, were assigned to teams supporting the wholesale banking and retail businesses.