Finance MBAs broaden scope to offer skills for a changing industry

Drivers of change in the finance sector, such as increasing levels of regulation, the need for improved efficiency, and a new generation of customers and technology, are creating a demand for professionals who can make a valuable contribution across an entire organisation.

Lawrence Chan, CUHK administrative director

Lawrence Chan, Chinese University (CUHK) administrative director (marketing and student recruiting) says MBA programmes play a vital role in helping professionals in the finance sector to move ahead in the industry by having the skills employers are looking for. “Besides knowledge about products, technology and regulatory issues, employers are always looking for individuals with leadership, soft skills, people management, cross cultural management abilities,” says Chan.

Alongside finance courses, Chan says CUHK MBA students study a variety of soft skills training programmes. They also receive training from consultants who work with multinational institutions. “Skills advancement and development are critical for long-term career development and help to strengthen the pool of talent working in the finance sector,” Chan says. To keep pace with evolving needs, Chan says the CUHK develops new courses, such as project financing, which is related to the future of infrastructure development in the Asia-Pacific region.

As the finance industry works to integrate the latest technology into their operating and service activities, Dean Stallard, regional director of recruitment firm Hays in Hong Kong, says finance technology candidates with an MBA are increasingly sought after by employers in the financial services industry. “If two candidates have like-for-like technical experience, cultural fit and other qualifications, then an MBA could be a differentiating factor,” says Stallard.  On the job front, Stallard says opportunities in front office technology positions are currently strong in the investment banking sector.  “'Chinese banks and the insurance sector also have large projects in the early stages, which are fuelling employment vacancy activity,” he says.

Tom Bain, adjunct professor of finance at CUHK business school

According to Tom Bain, adjunct professor of finance at CUHK business school, the significant increase in regulation of the financial sector has created an enormous burden for the industry. “Our MBA courses on financial markets must now include consideration of the significant loss in liquidity of certain instruments such as bonds, the increased role played by hedge funds, and potential risks to the execution of government monetary policy,” says Bain, adding that MBA students are still hungry to understand the movements of financial markets. Bain explains that financial markets are influenced by many factors including economic cycles, geopolitics, wars, technological developments, elections, weather, and natural disasters. “Students are keen to study these factors in order to interpret their impact and the steps they should take as managers to adapt to them,” he Bain.