Financial Talent
Financial Talent, commonly abbreviated as FinTalent, refers to an aptitude for the skill set typically desirable in the financial industry, typically involving financial, technology and subject matter areas of expertise. The term was born during recent trends in the financial industry, but even before the Digital Revolution, changing technology had placed new importance on certain skill sets. In the wake of automation, the well-documented transformation of the financial sector away from manual processes and towards technology and data-driven processes [1] caused an absence of these skills to rise to prominence. The emphasis on financial talent was born from a wider trend in Human Resources that also popularized the concept of Talent Management.
Skill[edit]
Talent and skill have been related but distinct topics in popular culture. For example, they represent distinct concepts in the writing of Gladwell, the former being described as aptitude and the latter being the results. Previously, talent in the financial industry had been viewed in a managerial framework, with bonuses rewarded high-performance and an emphasis on talent accumulation and poaching from a top-heavy level. This was described as "often unique among fields and being described in the Financial Times as, "In financial services, talent acquires yet another meaning."[2] Recently, however, the top-heavy view of talent in the industry has developed toward a more distributed development. The development of financial talent serves to increase retention and avoid potential brain drains from the organization.[3] Across all levels, the development of skills has been an area of focus, with mechanisms such as EdTech and deep practice[4] aiding in the development of financial skill sets. Evaluations of skills have fallen across both Human Resource and Business departments.
Programs have developed around cultivating the constellation of skills, which include:
- A conceptual understanding of banking
- Lending and Credit Flows
- Financial Flows
- Technical knowledge of key software tools and processes
- New technological solutions, such as Blockchain and distributed ledgers
- Knowledge of regulatory and compliance issues[5]
In addition, a recent study by Deloitte has noted the shift in company culture from checking credentials to checking skills.[6]
See also[edit]
References[edit]
- ↑ Lee, Ruben (1998). What is An Exchange? The Automation, Management, and Regulation of Financial Markets. Oxford University Press. pp. 4–5. ISBN 0-19-828840-9. Search this book on
- ↑ Hoare, Stephen (2012). Talent Management: Financial Times Briefing: Financial Times Briefing eBook (Financial Times Series). Online: Financial Times. ISBN 9780273776482. Search this book on
- ↑ "Building a Bench of Financial Talent". www.amanet.org. Retrieved 2017-07-12.
- ↑ Daniel., Coyle, (2010). The talent code : unlocking the secret of skill in maths, art, music, sport, and just about everything else. London: Arrow. ISBN 9780099519850. OCLC 489631486. Search this book on
- ↑ "Building a Bench of Financial Talent". www.amanet.org. Retrieved 2017-07-12.
- ↑ "2017 Global Human Capital Trends | Deloitte | Human capital trends". Deloitte. Retrieved 2017-07-12.
Bibliography[edit]
- "Hiring and developing financial talent in Asia - HR in ASIA". HR in ASIA. 2015-08-04. Retrieved 2017-07-13.
- Gladwell, Malcolm (2008). Outliers: The Story of Success. New York: Little, Brown & Co. ISBN 978-0-316-03669-6. Search this book on
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