Learning on the job

In addition, the academy targets adults who want a second career and return to work.

One example is the Tower Hamlets academy centre in London, which is an intensive programme for people looking for careers in industry.

Providing the SII introductory qualification and promoting employability skills of working in a team, problem-solving and good communication skills, the recruits are encouraged to find a work placement in Canary Wharf, to get the practical experience they need.

Ms Perrins added: “We are getting people job-ready for this industry and this is about encouraging new talent. The other aspect is about how to develop the current workforce and what the sorts of skills we need to help. Research showed that leadership and management skills are needed, as they have good technical skills, but they are not fully equipped to be able to manage people.

“We have been trying to develop some flexible trends solutions or being partly delivered online, partly in workshops. The skills gap from last year developed new apprenticeship frameworks and they cover three key elements.

“They cover the professional qualification that somebody needs to undertake job role, provide evidence they can perform job role and also provide key skill elements. This is an apprenticeship route where key training tools are used either to get new recruits in or use it as framework to train existing staff.”

So it seems whatever age or career ladder stage an individual is at, learning off the job is just as vitally important as learning on it. And with a new breed of talent coming into the industry, regulators and qualification bodies need to keep one step ahead to keep financial services in competition with other career choices. What is also clear, is that swotting up and striking up skills is here to stay.

Girlie Garduce is a features writer of Financial Adviser