Building a skilled finance workforce
Finance skills are needed in all industries, not just financial services, and demand is increasing. We work with industry leaders to improve Australia’s skilling and training system to meet the current and future skills needs for every kind of finance job.
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FINANCE OCCUPATIONS
Finance occupations include Auditors, Accountants and Payroll Clerks. 66% of finance workers (557,800) are in five occupations.
HOW FINANCE SKILLS ARE CHANGING
Finance occupations have had higher than average changing skills needs driven by increasing demand for digital skills. Since 2016, finance occupations have seen a 16% change in the skills required.
Mentions of digital literacy in job ads up 136% since 2019.
Changes in regulation are affecting skills.
Increased digitalisation has led to growth of hybrid roles.
Key Themes
Training suitability
It appears that the Financial Services (FNS) training package is meeting learner expectations, but not consistently delivering the skills required by industry.
Digital capability gap
There is a gap in foundational digital capability across the workforce as it becomes a critical skill in all roles.
New technologies
Technological change, including generative AI, is reshaping finance occupations, with implications for skilling and pathways.
Pathways
Industry and students often lack clear understanding of training and skilling pathways into occupations and careers.
Enhancing trainer and teacher currency
Fast changing skill demands will require support for trainers and teachers to deliver training.
