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FINANCIAL SERVICES SKILLS EXCHANGE
MUMBAI, MAY 2007 |
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As a part of its contribution as the Keystone Partner of UKIERI for facilitating Financial Services Skills Exchange, KPMG sponsors a research collaboration between Indian Institute of Foreign Trade, India and City College, Norwich. The project also involves Tower Hamlets College, London, University of East Anglia, and the UK Securities and |
Investment Institute, alongside employers Marsh and Norwich Union. This collaboration seeks to upgrade the international employability skills of graduates pursuing a career in the global financial services industry. |
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As a key input towards this partnership, KPMG conducted a survey on global financial skills gap in 2007. The research report was formally launched in May 2007, during the visit of Rt Honourable Lord Mayor of London. This research provides a useful analysis of the skills required by the graduate employees joining global financial and business services in the UK and India. |
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On the basis of the findings of these reports, the partnership developed five courses |
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Ian Gomes, Chairman, New and Emerging
Markets, KPMG,
at the launch of the
UKIERI-KPMG report in Mumbai, May 2007 |
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Cultural Awareness |
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Risk Management and Insurance Planning |
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Principles of Financial Regulation |
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Customer Relationship Management |
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Global Employability |
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In addition, partner institute, Securities and Investment Institute, (SII), UK, conducted a course to train the staff
of IIFT in the Principles of Financial Regulation for
further dissemination to students. The UK and Indian Institutions involved in the project received an overwhelming response during the student and staff exchange programme. |
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The UKIERI-KPMG collaboration has made a substantive contribution towards skill development in the financial sector and has paved the way for more future sharing of best practice  |
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UKIERI SEMINAR ON GLOBAL ENTERPRISE RISK
MANAGEMENT – FINANCIAL RISKS AND CHALLENGES
PUNE, APRIL 2008 |
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Rt Honourable Lord Mayor of London
giving the keynote speech at the seminar |
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UKIERI organised a Financial Services Seminar on 'Global Risk Management – Financial Risks and Challenges' at Pune in April 2008. The partnership of KPMG with UKIERI, in its capacity as 'Keystone Partner in Financial Services Skills Exchange' was strongly echoed at the seminar. The event was organised with |
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support from Mahratta Chamber of Commerce, Industries and Agriculture, Pune and was attended by more than
100 UK and Indian business and academic delegates including a high powered delegation led by Rt Honourable Lord Mayor of London. The Lord Mayor delivered a strong keynote speech, wherein he lauded the efforts made by UKIERI in facilitating UK and India cooperation in research and education. |
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For an enterprise to manage risk successfully, its staff has to be well-trained in enterprise risk management. This highlights the important contribution of academic institutions and trainers in this sector. One of the main highlights of the event was a detailed presentation by
Dr Satinder Bhatia, Director, IIFT along with Andrew M Williamson, City College, Norwich, on their UKIERI-PTS Project sponsored by KPMG |
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TOWARDS ROBUST COLLABORATION IN FINANCIAL
SKILLS EXCHANGE |
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The Professional and Technical Skills partnership sponsored by KPMG between Indian Institute of Foreign Trade, India (IIFT), City College, Norwich (CCN) and Tower Hamlets College (THC), London has reached a new phase of collaboration and exchange. |
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Following the employability skill gaps research report undertaken by KPMG, meetings have taken place with them and the partners, City College Norwich (CCN) and Tower Hamlets College (THC). The findings and conclusions of the KPMG research is comparable with the work done on the sectors skills needs in the UK which are part of the Skills Bill which will ultimately conclude in the preparation of the Sector Skills Agreement for financial services. This will guide the allocation of public funding in the UK for training and education. The KPMG work is consistent with the Skills Bill and has been used to help inform the process. The findings have been discussed with industry partners in the UK, Norwich Union and Marsh, and have been used to inform the development of the courses by CNN and THC. |
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Discussions are also continuing with KPMG regarding how their staff can be most effectively involved in this partnership in the future. City College, Norwich, is now looking to establish a 'chat room' type arrangement, which will allow discussions between the partners to take place on an ongoing basis. |
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The collaboration of IIFT, India with City College, Norwich, and Tower Hamlets College has led to greater exchange of staff and students between the two countries. 14 students from the University of East Anglia, |
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Students from the Indian Institute of Foreign Trade,
City College, Norwich and University of East Anglia
at the Norwich Union, UK |
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Tower Hamlets College and City College, Norwich visited IIFT, India in
March 2008. This visit coincided with the visit by six staff members of City College, Norwich and Tower Hamlets College. The staff members visit was arranged so that they could discuss the courses they have developed with their colleagues from IIFT. |
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Stage III of this partnership has begun in 2008-2009. Focus will now be on building relationships. Efforts will be made to build relationships with the Financial Services Skills Council and the National Skills Academy for Financial Services, UK. The sustainability of the partnership between the partners beyond UKIERI funding will be a key element of Stage III of the project. |
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This KPMG-UKIERI sponsored partnership between educational institutions from the UK and India has been extremely fruitful. It has helped in the development of international links and has enhanced the mutual understanding of educational issues and requirements between the two countries |
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