6 skills to help you future-proof your career

The financial industry is transforming. To thrive in the changing landscape, financial practitioners must be keenly aware of the nature and speed of industry changes that will affect their jobs, and adapt to new business needs by acquiring relevant skill-sets.

In partnership with industry leaders, we have identified 6 horizontal capabilities (a.k.a Future-Enabled Skills) that are increasingly vital for finance practitioners:

 

1. Agile

What is it?

The ability to apply innovative, iterative and collaborative principles and methodologies to bring business value.

Why should you acquire this skill?

Mastering this skillset will greatly improve your value as a potential job hire, as it will enable you to respond quickly to fast-changing customer needs, and continuously deliver optimal value to both customers and businesses.

 

2. Data-Driven Decision Making

What is it?

The ability to use data analytics to gain business insights and solve problems.

Why should you acquire this skill?

The job market International Data Corporation (IDC) reported that the market for big data and business analytics is expected to grow at a compound annual growth rate of about 11.9% till 2020, developing into a market of over US$210 billion. Banks, followed by insurance, securities and investment services companies, are among the biggest spenders. While many financial institutions have implemented data technologies, there is a lack of data analytics skills and talent in this area to prepare them to be data-ready at an enterprise level.

 

3. Digital Awareness

What is it?

The ability to keep up with new technologies and understand their value to businesses.

Why should you acquire this skill?

Emerging technologies like Artificial Intelligence (AI), Blockchain, Cloud and Internet of Things (IoT) are changing the way we live and work. They have already transformed or are poised to transform banking operations and other businesses in many ways. Their impact on organizations is generating a huge demand in these new skillsets. Being savvy in the latest technologies and trends will set you apart from others and prepare you for the workforce of the future.

 

4. Future Communication

What is it?

The ability to connect and engage customers through digital platforms.

Why should you acquire this skill?

With Singaporeans spending 4 hours on average per day engaging and connecting with digital touchpoints, the ability to harness the power of social media and emerging communication platforms, and to deliver the right message to the right audience at the right time will make you a valuable talent to any organisation.

 

5. Human-Centered Design

What is it?

The ability to design products and services from an end-user’s perspective

Why should you acquire this skill?

Human-Centered Design is all about understanding how people use things, why they use things – and then creating the things they need. Understanding the behaviour of customers involves analytical thinking with creative thinking, methodology with philosophy, data and leadership, tools with people, and technology with culture. These combination would result in a higher level of success when developing products and services for your customers.

 

6. Risk and Governance in the Digital World

What is it?

The ability to manage risks arising from new technologies.

Why should you acquire this skill?

Digitalization has enabled financial institutions to introduce innovative services, transforming the way financial services are being consumed. While consumers have benefitted from speedier transactions, lower costs and increased convenience, digitalization has also brought about risks from cyber threats to complex financial crime. Financial professionals should be aware and be alert of the different types of risk and the impact that digitalization can bring about, and take adequate measures to mitigate them within their organization and in their personal lives.

 

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