With technology being the major driver of modern business, there is a need for consistent capacity development for professionals. The President/Chairman of Council (CIBN), Ken Opara, stated this during the 2022 graduates’ induction and prize awards day held in Lagos with the theme: ‘Career Development in a Changing World: Strategies for Financial Services Professionals.
Opara said the global economy is buffeted by headwinds of change sweeping across national borders and traditional industry boundaries, with the financial services industry not exempted.
According to him, factors such as fintech, artificial intelligence (AI), robotics, blockchain, cryptocurrencies, cloud computing and Internet of Things (IoT) are driving these changes.
“Essentially, technology has been the major driver of change. Therefore, the need for career development for professionals in today’s volatile, uncertain, complex and ambiguous (VUCA) has become a very important subject that cannot be over-emphasised,” he said.
He said the institute was resolute in its commitment to capacity building and value addition to its members and stakeholders, hence, the induction of 1,857 graduates.
Opara enjoined the inductees to stay connected to the institute to take maximum advantage of the various innovative initiatives from the Institute for their personal and career development.
Also speaking, the Managing Director, LOTUS Bank Limited, Kafilat Araoye, said with technology disruption, industry emphasis should shift to the creation of careers around innovation, digital skills and entrepreneurship to replicate the corporate mindset of fintech in all financial institutions (FIs).
She said fintech serves as disruptors and innovators with over 100 in Nigeria, noting that financial inclusion drives are now opening up new vistas.
She, however, called for career development as it attracts and retains talent, utilises human resources optimally, enhances organisational effectiveness and performance as well as provides an assessment of the strengths, weaknesses and potentials in an organisation.