Financial market specialists met on Tuesday, November 15 a.c., at the Annual International Conference "Trends and Challenges in Financial Vocational Education in Romania", organized by ISF - Institute of Financial Studies. The main topics addressed referred to the implications of European legislation on vocational training, professional development in the field of financial services, consumer-centered financial education, but also the international recognition of skills and certifications.
"The Financial Supervisory Authority has launched the challenge to define a new framework on financial and vocational education, adapted to European legislation," said Gabriela BOCA, non-executive member of the ASF Council, at the opening of the event.
A major challenge for the insurance industry will be the implementation of IDD. Thus, "special emphasis will be placed on competencies, defined as skills and knowledge, but also on the professional training of insurance and / or reinsurance intermediaries", said Călin RANGU, President of the ISF Board of Directors.
In the context of the new legislative changes, "insurers must shift the focus from covering risks to meeting customer needs," said Adrian MARIN, UNSAR President. In fact, in the opinion of the President of UNSAR, a great deficiency for Romania is related to financial education, our country being on the 123rd position out of 143 worldwide, in terms of the degree of financial knowledge.
Mr. Ludwick Soboleski, General Manager of the Romanian Stock Exchange Bucharest, had an intervention in which he presented the projects in the field of financial education developed by BVB.
Within the panel: “Sectoral vocational training” the discussions and debates revealed both the importance of the quality of the continuous vocational training process and the need for permanent adaptation of learning methods to the needs and requirements of the market. Mr. David COWAN, IDD Project Manager, Coordinator of the Consumer Protection and Financial Innovation Team, EIOPA, gave a speech at the video conference on "EIOPA's approach to IDD implementation". This was followed with interest by the participants in the room, at the end concluding that EIOPA's expertise can be adapted to the requirements of the local market.
In parallel, the panel "Ethics and Integrity in the Financial Field" was held. The special guest was Mr. Kevin Moore, Director of Global Business Development at the Chartered Institute for Securities & Investment (CISI). He gave an interactive presentation on "Integrity in the financial environment" in which participants were able, based on a special voting system, to express their views on each of the situations presented where maintaining integrity proved to be a challenge. .
The presentations of the speakers at the conference, as well as those of the panels, can be accessed here.
