NFU argues that qualified employees are needed in the financial sectors. It is important that employees are given the opportunity to develop their competence and professional qualifications.

Adequate time and resources are vital to ensure that employees are able to provide all relevant information to clients. And financial companies should be ready and able to invest in the professional development of the employees – their most important resource.

Products that employees sell and give advice about are changing and often getting more complex. Technological development is constantly reshaping the landscape of the financial sectors. Consumer demand shifts with the development in the real economy. As a consequence, demand on employees’ competence and qualifications is increasing in the financial sectors.

Competence and training also concern employee representatives in company boards, where a minimum of professional requirements often is stated. When it comes to ensuring that directors and board members have suitable skills and qualifications, it is not only a question of the selection process, it is also a matter of training. The board members’, including employee board representatives’, competence must be continuously updated to fulfil any requirements that have been deemed appropriate or necessary for the task.

NFU argues that the employability of bank and insurance staff should be strengthened through training and professional development, to keep up with innovation and change to the benefit of consumer and protection and financial stability.

The financial sector should therefore invest in employees as they are the key instrument for value creation and innovation in financial services.

Companies must provide proper time and resources for employees’ to take part of competence and professional development.