The Financial Services Skills Council's (FSSC) review of skills in the financial sector confirmed that the UK's most successful industry is crucially dependent on a world-class workforce for its continued growth and international competiveness. Likewise, Investment banks and funds acknowledge the increasing importance of high-level cutting-edge quantitative and computational finance skills, as well as the acute shortage of these essential skills. This has driven leading investment banks to compete furiously for the most able graduates.
While the UK's premier universities are viewed by the banks as equipping students with an excellent academic education, the universities are failing to provide students with a basic knowledge of the financial services industry, and reluctant to modify their programmes to address the bank's needs. In addition, as noted by the FSSC, in developing and transferring cutting-edge quantitative and computational finance skills, the financial services industry often lead academia.
Listed below are some good practice of collaborations between higher education institutions and industry's employers.
- Case study 1: University College London
- Case study 2: Blackburn College
- Case study 3: Anglia Ruskin University