Report highlights tech skills shortage

Report highlights tech skills shortage

The financial services sector faces a potential shortage of skilled technologists and data analysts over the next five years, according to as recently published report.

The Luxembourg for Finance agency looked at changing trends in financial services and the new jobs that might emerge. It concluded that there is a "notable mismatch between current skillls and those required in the next five years".

This mismatch is most acute for roles requiring advanced data analysis and mathematical skills. 

The report, entitled Future Skills and Jobs in Finance, predicts that roles linked to automation will be in high demand but this will require not only "significant reskilling and upskilling on an industry level" but also a shift in education strategy. 

This means a greater focus on leadership skills and other social and emotional skills as well as financial literacy and technological know-how. 

The onus is not solely on new recruits, states the report. Financial institutions will also have to create a more personalised work experience for its employees if they are to attract top talent, something which is already stretching existing operating models. 

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