Essential Skills for Success in Financial Services

This white paper outlines the essential skills required for success in the financial services industry, connecting the industry's skills framework with SHL's Skills Taxonomy. It aims to analyze how candidates' skill sets align with industry expectations through the Global Skills Assessment (GSA). The paper describes the methodology used to map skills from SHL's Universal Competency Framework (UCF) to the Financial Services Skills Commission (FSSC) framework, identifying key skills such as financial analysis, risk management, and customer relationship management. The analysis reveals skill gaps among candidates applying for roles in financial services, indicating areas where additional support may be necessary. The findings emphasize the importance of skills like collaboration, ethics, critical thinking, and creativity in adapting to the evolving demands of the industry. Furthermore, the paper discusses the significance of foundational skills and digital competency in preparing the workforce for future challenges, advocating for targeted development strategies to enhance employee readiness.