The Financial Academy Releases Strategic Report on "'Reskilling the Saudi Financial Sector Workforce for Vision 2030 "
The Financial Academy (TFA) has released its most recent strategic report. The new addition, Future-Proofing Finance: Reskilling the Saudi Financial Sector Workforce for Vision 2030, highlights the need to reskill the financial sector workforce, being a critical
priority that aligns with Saudi Vision 2030 targets.
The report argues that amid the rapid changes in the digital economy and the growing reliance on Artificial Intelligence (AI) technologies and the big data, 40% of the current financial sector workforce need to be reskilled by 2030. It adds that technical skills, such as data analytics, as well as the sustainable finance and cybersecurity, have become essential for future-proofing workforce in the Kingdom of Saudi Arabia.
84% of financial institutions expect that AI technologies and data processing will play a pivotal role in reshaping business models, the report said. While 51% of global business leaders consider technical knowledge the most valuable skill for the year 2025, the percentage hikes to 63% among their Saudi counterparts, signifying a better perception of AI significance in the Kingdom. This is why nearly 95% of the financial institutions already have reskilling plans, the report revealed.
In this context, Mr. Mana bin Mohamed AlKhamsan, CEO of The Financial Academy, comments that the financial sector is a key pillar of the national transformation, dubbing future-proofing workforce as a strategic investment that would further advance the Kingdom’s drive to build a diversified and innovation-based economy.
“TFA persistently works on developing advanced solutions to fulfil the needs of the sector, including banking, insurance, finance and capital market,” noted AlKhamsan.
The report suggests that to empower human capital, a culture of continuous learning and adaptability should be fostered, an approach that focuses on skills rather than traditional job titles should be adopted, and training programs tailored to the actual needs of markets should be designed.
Additionally, the new release reviews a number of global best practices for reskilling, including Singapore’s integrated public-private partnership (PPP) model and UK’s market-driven approach.
The report highlights a series of evolving finance job roles such as green finance specialist, sustainable portfolio manager, sustainability analyst, digital risk officer, data privacy analyst and fraud detection expert, calling for qualifying talented people to assume leadership roles in these areas. It also recommends that collaboration between regulators, TFA and business ecosystem should be strengthened to ensure sustained and broad-based implementation of reskilling initiatives.
You can access the report via this link:
Reskilling the Saudi Financial Sector Workforce for Vision 2030
