Susan Russell is the Chief Executive of the Retail Ireland division of Bank of Ireland Group. The Retail Ireland division provides a wide range of consumer banking products, services and channels.
What are your biggest challenges as CEO, Retail Ireland?
One of the biggest challenges I face, but which I also see as an opportunity, is striving to stay ahead of the pace of change. Whether that is in matching and exceeding customer expectations, developing cutting-edge technology platforms, or combating criminal threats.
To that end, the threat of customer fraud, in particular, has evolved dramatically. That is why Bank of Ireland supports our customers with an ‘always on’ 24/7 human-assisted fraud service.
Criminals are no longer just targeting institutions – they are mainly now going after consumers directly. That shift in behaviour demands a new level of vigilance, innovation, and cross-sector collaboration. This is why Bank of Ireland continues investing in technology, and also in our colleagues working in fraud prevention, to identify and prevent fraud before it happens.
Leading through this complexity, while keeping our customers at the heart of every decision, is both the challenge and the privilege of my role.
What are your main priorities and goals in your role?
My strategic priorities are building a simpler and more sustainable business and strengthening relationships with both customers and colleagues.
Digital transformation is a key priority. We have launched SEPA Instant – so all our customers can send money securely from one account to another in just 10 seconds, 24/7, even on weekends and bank holidays. We will soon be launching a new app, which will be quicker and simpler for customers to use, and quicker for us to add new digital features. And next year we’ll launch Zippay, mobile-to-mobile payments. All of these improvements can enhance the customer experience, streamline operations, and drive innovation.
Our branch network is also evolving to meet modern needs, with the replacement of the Bank’s entire ATM fleet and the refurbishment of 24 branches this year, featuring a €60m ongoing investment in branch improvements.
How do you keep your team/colleagues motivated?
I lead with people at the heart of everything we do. Whether it’s transforming our business, shaping new products, or allocating resources, the most important decisions are always about people – our customers and colleagues.
Whether you are a creative thinker, a problem solver, a leader or a team player, there is a place for you to thrive at Bank of Ireland. I want colleagues to recognise that Bank of Ireland is a great place to work, and that they can feel the connection between the work they do for the benefit of our customers, and how that links to the success of the overall business strategy. When this connection is evident, I believe that people feel more engaged with their work and work smarter as a result.
I also see relationships not just as a strength, but as a strategic advantage. When our teams feel deeply connected to our purpose, they don’t just stay motivated – they thrive. That sense of connection is something I work to nurture every single day.
What are the challenges facing the banking industry going forward?
I’ve mentioned this already, but fraud is one of the most urgent challenges. We’ve seen billions stolen from consumers globally, and the impact is life-altering.
At Bank of Ireland, we have people (yes, real humans, not chatbots!) available 24/7 to support customers. We took more than 550 calls from customers on Christmas Day last year, for example.
But this isn’t a fight we can win alone. Bank of Ireland, along with the Banking & Payments Federation of Ireland, has also been campaigning for changes to European legislation to stop the avalanche of investment fraud adverts online. We’re calling for this legislative reform and stronger collaboration across sectors – from telecoms to tech platforms – to stop fraud at its source. Every day matters in this fight.
What’s the best advice you’ve been given in business/your career?
“Be brave. Doubt later.” I’ve taken on roles I wasn’t sure I could do, and I’ve learned that growth lives just outside your comfort zone. Even if things don’t go perfectly, you’ll have a great story to tell. I encourage others to try things they’re unsure about – you’ll surprise yourself.
What have been your highlights in Bank of Ireland over the past year?
There is a lot I am proud of. We’ve made real progress in fraud prevention, including spearheading award-winning public awareness campaigns and driving policy advocacy at the EU level.
Our branch network upgrades are delivering better experiences for customers and colleagues alike. We’ve rolled out new ATMs, improved telephony and digital services and strengthened our support for vulnerable customers.
It has been a year of meaningful impact – and we’re just getting started.
Read more CEO Q&As:
Derek Foley Butler, Executive Chairman and Founder of GRID Finance