What Are The Challenges Of Professional Development In Banking And Financial Sector

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Professional Development Opportunities
Professional development entails facilitated learning opportunities that seek to impact desired skills, and to improve effectiveness and knowledge of a professional in a given area of specialization (Grogan, 2002). Opportunities for professional development are presented in formal education as specialized training, and additional learning of professionals to improve the knowledge and skills of administrators. Professional development in the banking and financial sector encompasses programs that are tailored to increases knowledge and skills of the professionals in the banking and financial industry. Such programs may be funded by the bank or by the individual and ranges from attending a one-day conference …show more content…

However, the technology has brought about numerous challenges and risks that have altered the tradition practices in this sector (Karatepe, 2005). Prior to the emergence of cutting-edge technology, banks had an easier task of keeping deposits safe for their client’s. Banks hired services of police officers to safeguard their business premises against theft. However, adoption of technology in the banking industry facilitating services such as internet banking and electronic money transfers, and with the emergence of various technological instigated crimes such cyber crime and hacking, keeping safe customer’s deposits has become a challenge to financial institutions (Nawaz, 2013). To address such threats posed by the new technology, traditional practices in the financial sector have evolved to incorporate other disciplines into their practice. In this regard, a wide pool of opportunities for professional development in the financial and banking sector has been provided by these challenges. In this regard education courses mainly at degree level specializing in data and system security present a wide opportunity for profession development in the financial and banking industry. The following degree courses are vital in the provision of data and system security; system administration, data security and protection, actuarial science, …show more content…

Convenience, reliability, and efficiency are factors that inform customer’s choice of financial service provider. Equally, the same factors inform the decision of a continuing student to enroll in a given program in specific college. Therefore, online learning platforms are tailored to provide the students with convenience and flexibility of learning by allowing the student to take classes while going on with their daily activities (Valerie, 2013). Therefore, a student only requires a laptop with Internet connection to log on into the college website and retrieve learning materials including the days lecture notes. Online learning platforms have heavily relied on the global reach of the Internet by increasing access to education across the world. Online learning is not geographically limited, but rather a college can serve students from all parts of the world under the online platforms.
A recent development in online learning is the development of Massive Open Online Courses (MOOCs). MOOCs encompass online courses aimed at unlimited participation and interaction between students and lecturers through the web. MOOCs came about in 2007 and got a wider application in 2012 as an advancement of the earlier online learning practices. MOOCs major aim is to provide an interactive forum for students and instructors

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