1. Investment Challenge Briefing
Elaine Walls
24th October 2017

2. Financial Services
Sub-sectors and employment

3. Financial Services Key facts Contributes £8.9bn GVA
Over £1 trillion assets under management
Productivity over double the Scottish average
Average salary 13% higher than Scottish average

4. Financial Services Future workforce demand
Working Futures forecasts continued growth featuring:
47,500 opportunities comprising 11,600 new jobs and 49,500 replacement opportunities
A move towards a higher qualified workforce with employees having qualifications at SCQF6 or above increasing from 56% to 72%
More managerial, professional or technical roles increasing from 52% to 58%

5. Financial Services Drivers of change and skills needs Business model
Automation of customer transactions
1:1 interaction on more complex issues
Fewer, more skilled customer service roles
Business model
Data mining and analysis of big data
Cybersecurity
Digital skills, software development
Innovation and technology
Highly regulated environment
Pace of change
Project management and specialist skillsets
Performance and compliance

6. Financial Services Entry level pathways Further/higher education
Apprenticeship family
The industry recruits from a variety
of disciplines although business
admin, social science, computing science and maths are most common amongst graduate entrants.
Specialist ICT/digital degrees are emerging e.g. MSc in Fintech at Strathclyde
Work readiness e.g. appropriate behaviours and attitudes are paramount
Foundation apprenticeships for S5/S6 are available in ICT/digital and financial services
There are modern apprenticeships in financial services, accounting, ICT/digital, data analytics amongst many others
New graduate level apprenticeships are available in business management, financial services, software development and cybersecurity

7. Foundation Apprenticeship Delivery 2017 - 2019
Creative and Digital Media – 23 October 2017
All data is based on Participant Post Code information
FA Participants By Framework
FA Local Authority Participation
FA Delivery Partner Participation
FA Participants by School Year