IOB today launched the next phase of the Irish Financial Services Skills Framework, a world-first, standards-based model to future-proof skills across Ireland’s financial services sector.
Explore the expanded Skills Framework here.
This new phase, developed by IOB with input and support from Irish Funds, focuses on the funds and investment management sector, a key pillar of Ireland’s international financial services industry. Building on the success of the Framework’s first phase in retail banking, the new release expands the initiative’s reach and impact, helping professionals and organisations across the funds sector identify, assess and develop critical skills needed for the future.
Developed in collaboration with employers, industry bodies, state agencies and education partners, the Framework is designed to strengthen Ireland’s position as a global centre of excellence in financial services by aligning workforce capability with emerging business, regulatory and technological demands.
The Framework defines the essential skills underpinning the funds industry and maps these across four proficiency levels, linking each to validated education and training programmes. It enables professionals to chart personalised learning journeys and supports organisations to plan, recruit and develop their workforce, based on skills.
Speaking at the launch, Melíosa O’Caoimh, IOB President and Ireland Country Head of Northern Trust, said: “Today represents a significant milestone in development and delivery of the Irish Financial Services Skills Framework. The expansion of the resource will support a further 19,500 professionals directly employed in Ireland’s funds industry. This innovative resource, led by IOB, will enable funds firms and professionals to strengthen their skillset and anticipate and manage future skills requirements.”
Also commenting at the launch, Mary O’Dea, CEO of IOB, added: “The Skills Framework demonstrates the power of collaboration between education, government and industry. The funds sector plays a critical role in Ireland’s economy and this new phase provides professionals and organisations with a clear, accessible roadmap to develop and validate the skills required to sustain growth, innovation and inclusion. With this phase built in partnership with Irish Funds, we are proud to continue building a Framework that helps future-proof Ireland’s financial services workforce.”
Pat Lardner, CEO of Irish Funds, added: “Skills development sits at the heart of every major transformation in the funds and asset management industry - from green and digital transitions to evolving regulatory developments. The Irish Financial Services Skills Framework offers a powerful and practical response to these challenges and opportunities. It provides professionals with a clear roadmap to build future-ready capabilities and supports firms in planning and developing their workforce. This initiative strengthens Ireland’s position as a global centre for funds and asset management and reflects our shared commitment to excellence, education and lifelong learning.”
By placing skills at the centre of workforce strategy, the Framework addresses a challenge facing financial sectors globally – how to future-proof people in the face of rapid change.
The overall Irish Financial Services Skills Framework is an initiative of the Expert Group on Future Skills Needs (EGFSN) which advises the Irish Government on the current and future skills needs of the economy.
Led by IOB, a recognised college of University College Dublin (UCD) and a centre of excellence in the provision of specialist education to the financial services industry, the Framework has been developed in collaboration with industry partners, including retail banks, representative bodies, government departments, state agencies and higher education and training bodies.