Mohammad El Kuwaiz, Chairman of the Capital Market Authority (CMA)
Mohammad El Kuwaiz, Chairman of the Capital Market Authority (CMA) and Chairman of the Financial Academy (FA) Board of Trustees, opened the second edition of the Financial Academy Forum in Riyadh today, Oct. 11.
In his speech at the opening ceremony, El-Kuwaiz said that the forum comes out of the role of the Financial Academy in developing human skills in the financial sector, and to achieve its goals emanating from Vision 2030, and as an extension of its being a comprehensive knowledge platform for decision-makers, academics and players in the financial sector.
The labor market is currently more volatile than before. The World Economic Forum estimated that 23% of jobs will be subject to change worldwide within five years, and this is due either to fundamental changes in their nature or to their complete abolition. At the local level, another study by the World Economic Forum shows that 50% of work activities in the Kingdom are subject to automation. This necessitates accelerated steps to keep pace with the requirements of the labor market, and investing in human capital, including redesigning jobs to make them more able to adapt to developments, and creating a culture of long-term learning, said El-Kuwaiz.
The top official also stressed the importance of the role of the Financial Academy, which is to fill and rehabilitate the financial sector, highlighting its growing importance as it is one of the sectors that most employs in the Kingdom’s citizens, with the highest-paid jobs. He highlighted the role of the academy in recent years as a mentor that provided training with more than 2,000 programs, which benefitted than 30,000 trainees, representing 20% of the financial sector’s employees.
The Financial Academy Forum addresses four pivots, namely the rapid changes in the financial sector and the need for new skills, the future of reshaping skills, in addition to the importance of reshaping skills in the financial sector and organizations, and applying effective strategies to keep pace with those changes.
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