Executive Education for Financial Professionals

In recent years, the finance industry has become one of the most sought-after. While it’s understood that executive education is beneficial for senior professionals in any industry, every industry has specific requirements and needs. An increase in competition has created the need to be exceptional in the field. This has in turn created the need for finance professionals to take up executive education as a must.

Read: Executive Education Trends 2023

According to the World Bank, the financial services market is expected to reach $26.5 trillion, growing at a rate of 6%, by 2022. In the best shape it has been since after the recession, the financial sector is the largest globally in Asia-Pacific, followed by North America.
*Source: Feb 6, 2020 article by Investopedia

Much of what is required to advance in the finance industry largely follows the trends in the industry. Here’s a look at what is relevant and increasingly gaining popularity in executive education for financial professionals.

Specialized expertise

In the various branches of finance, having expertise in one particular kind is a trend that is fast becoming the norm. Whether project finance, risk management, asset management, private equity, capital allocation, or even cyber security, focusing on one is of great importance among finance professionals today. This is preferred over having a more generalized knowledge in finance as a whole and why more professionals are looking toward executive education to bring them up to speed.

Financial strategy

Another trend that is making its way into executive education for finance professionals is financial strategy. Combining the technicalities of financial planning with future-focused strategic thinking, finance strategy is becoming a must-have skill with senior finance professionals, making executive education programs to help them achieve this, a must. This allows them to use analytical data better to the benefit of the company or organization.

Finance and technology

Possibly one of the biggest changes to the industry of finance, technology is in a constant state of change which reflects on every other industry, including finance. Technologies as well as digital tools such as artificial intelligence, blockchain, and many others are used in revenue management, mobile banking technology, regulatory updates, revised processes, filing returns, providing loans, and many more. In order to be accustomed and up to date with digitized and improved processes, upskilling and regular training is a necessary step forward.

Leadership training

Just like leadership is a popular choice for an additional skill in many other industries, it is a sought-after skill in the finance industry too. Considering professionals now focus more on specialized financial services, it is essential to be able to lead and gain expertise. Leadership training will allow finance professionals to set the tone in their preferred area of expertise in the industry of finance and lead from the front.

Communication skills and soft skills

Considering not everyone understands the details of finance, professionals in the industry require adequate communication skills and soft skills to be able to converse financial details to professionals from other areas of expertise. This helps integrate different departments in an organization, allowing better understanding between functions and ultimately, growth.

The finance industry is growing exponentially and has a lot of competition. Upskilling and keeping in touch with the ever-changing trends is what will guide the demand for executive education for finance professionals.

FAQs

Q. What is the importance of having specialized expertise in the finance industry?

A. Recently, having expertise in one particular kind of finance has become a trend. Whether project finance, risk management, asset management, private equity, capital allocation, or even cyber security, focusing on one has become the norm among finance professionals today.

Q. What other industry is closely linked to the finance industry?

A. Technology. It is possibly one of the biggest changes to the industry of finance. Technology is dynamic, which reflects on the finance industry as well. This includes digital tools like AI, blockchain, etc.