(a) Explanation of the Term “Stress” [5 Marks]

Stress is a psychological and physical response to perceived demands or threats that exceed an individual’s coping abilities, leading to tension, anxiety, or strain. In the context of Ghanaian financial institutions, it’s often triggered by high-pressure environments like regulatory compliance deadlines under BoG directives, manifesting as emotional exhaustion or reduced productivity in sedentary roles such as data analysis or customer service.

(b) Five Sources of Stress in a Named Bank [10 Marks]

In a bank like GCB Bank in Ghana, stress sources are prevalent due to regulatory and operational demands post the 2017-2019 cleanup and DDEP. Here are five:

1. Workload and Deadlines: Heavy caseloads, such as meeting BoG’s reporting requirements under the Capital Requirements Directive, create pressure from tight timelines, leading to burnout in compliance teams.
2. Regulatory Compliance Pressures: Constant adherence to laws like Act 930 and Cyber Security Directive 2020 demands vigilance, causing stress from fear of penalties, as seen in historical bank collapses like UT Bank.
3. Customer Interactions: Dealing with demanding clients, especially in economic downturns post-DDEP, heightens emotional stress for front-line staff handling complaints or loan defaults.
4. Technological Changes: Rapid digital shifts, like implementing fintech under Payment Systems Act, require quick learning, stressing employees unaccustomed to new systems.
5. Job Insecurity: Economic volatility, including recapitalization mandates via BoG Notice No. BG/GOV/SEC/2023/05, fosters anxiety about layoffs, similar to redundancies during the banking sector cleanup.

(c) Five Strategies Employees of a Credit Union Can Adopt to Manage Their Stress [10 Marks]

Employees in a credit union, such as those under BoG supervision in Ghana, can manage stress through proactive measures aligned with human relations best practices:

1. Time Management Techniques: Prioritize tasks using tools like to-do lists to handle workloads efficiently, reducing overwhelm from sedentary administrative duties and ensuring compliance with operational standards.
2. Physical Exercise and Healthy Lifestyle: Engage in regular activities like walking or gym sessions to counteract sedentary work, as promoted in BoG’s sustainable principles, releasing endorphins to alleviate stress.
3. Seeking Social Support: Build networks with colleagues or mentors for venting and advice, fostering a supportive culture akin to team building in Ghanaian institutions, mitigating isolation in high-pressure environments.
4. Relaxation Methods: Practice mindfulness or deep breathing exercises to manage anxiety, especially during regulatory audits, enhancing focus and ethical decision-making.
5. Professional Development and Boundaries: Pursue training for skill enhancement while setting work-life boundaries, such as avoiding after-hours emails, to prevent burnout and align with empowerment practices for long-term resilience.