Europe Day: a closer look at what the EU means for financial employees

9 May is Europe Day, a day to reflect on what European cooperation actually means in practice for people working in finance.

For Nordic finance employees, the EU increasingly shapes the conditions of everyday working life. The establishment of the internal market shifted major areas of financial regulation to the European level, strengthening common European governance.  This shift accelerated the aftermath of the financial crisis of 2008, as the EU introduced new protective regulations that directly reshaped the work of financial employees, requiring them to acquire new skills, adapt to new rules, and operate under increasingly common European conditions.

NFU's Secretary General Carin Hallerström sees the EU as a natural partner:

"The EU is where the key decisions about the financial market are made, and they are constantly evolving. That is why we need to be present and engaged. Because what is decided in Brussels affects not just financial employees, but all citizens."

Yet the employee perspective is not always present when legislation is being shaped. Employees face high demands and rapid change, and they must be given the right conditions, tools and time to carry out their work. Changes must always take the employee perspective into account.

Right now, NFU is closely following two key issues: digitalisation and sustainability.

Digitalisation is transforming the financial sector at a rapid pace. The rise of AI raises fundamental questions about the future of work. What will happen to jobs? What opportunities will emerge? And what ethical considerations arise around the use of personal data?

Sustainability is equally pressing. Across Europe and beyond, the green transition is facing significant political headwinds. But the underlying challenges are not going away. How should a financial adviser respond when a customer wants to invest in a sustainable fund? How do underwriters factor in climate risk?

As Anna-Delia Papenberg, Head of EU Affairs at NFU, puts it:

"Issues like digitalisation and sustainability do not stop at national borders. The EU is the most important forum we have for finding common answers to the challenges facing financial employees regardless of their country of origin, the financial sector and society at large. These values and progress are well worth fighting for."