Learning on the job

Polishing up skills within the workplace has been categorised under many guises including academies, in-house training or development programmes.

Whatever format it takes, the fact that there is a drive for increased professionalism and higher qualifications has made a significant impact on the financial industry across the board.

But for those about to enter or are already in the industry, is it essential to swot up on those skills?

Beverley Wells, compliance and operations director for City Trustees, a subsidiary of the Lighthouse Group, believes it is and decided she wanted to take up the opportunity to obtain a professional qualification.

Ms Wells, who joined in January last year, completed the Institute of Leadership and Management Award alongside her full time job during July to October 2007.

Taking part in tutorials and assignments relating to management skills and qualities, she studied between Orpington College and Brighton, one of the three main learning centres in the UK.

Ms Wells – who also had internal courses off-site, TCF events, online learning and training days together with discussion groups, as part of the intense course – praised the combination to cover all bases and said: “I think this was quite a powerful tool, as it was about sharing information and being within a group where you could voice your own opinions.

“We looked at management theory and hierarchy background information on how and why people behave in certain ways.

“Now I do monthly one-to-ones and team meetings with those who work on self-invested personal pensions and small self-administered teams in roundtable discussions. It promotes a broader understanding in a working relationship.”

Ms Wells added that as well as heightening technical management awareness, the course also addressed soft skills – something that is not taught in textbooks.

She added: “You cannot just have technical skills and I do not think people realise how many skills you need. It was also about listening, reacting, empathising and responding.”

Ms Wells also pointed out that there is a challenge to raise awareness for young people who are unaware of what financial services has to offer.

She said: “There is a huge scope of jobs and it is unfortunate this is not known. To tackle this, it is a combination of the industry wanting to change things and the FSA will want to change things in the future.

“The financial services industry is seen as an older industry, whereas in reality, there are jobs for life. The training I have just completed shows you can go through different routes and have a career there if you want to. There is something for everybody.”

With 3000 learners on the programme – studying at the centres or undertaking courses – the academy has a target of getting 15,000 learners through the programme in three years.