For individuals working in finance, staying current with the latest developments is key when it comes to career advancement.
Ongoing learning and upskilling are now vital parts of the job to help financial leaders manage an expanding list of responsibilities that can include anything from compliance to analytics.
Consequently, credentialing systems are evolving to reflect these more diverse needs, and tech is helping pave the way. Read on to discover how hybrid learning is helping reshape the way financial leaders pursue credentials.
The Advantages of Hybrid Learning
Hybrid learning combines both in-person and remote learning experiences to provide professionals with continuing education opportunities. The added flexibility of hybrid learning makes it easier for financial leaders to upskill while maintaining their existing work schedule.
Some courses are even asynchronous, meaning professionals can log in when it’s convenient and work at their own pace. Better yet, purely online courses can be accessible to individuals in any geographic location, giving more individuals the opportunity to build their financial acumen.
While traditional degree programs can still provide a strong foundation in financial education, stackable credentials have emerged as an attractive alternative for working adults. With this approach to education, individuals can take courses and achieve certificates and other credentials within a more compressed timeframe.
Popular stackable options include certifications such as the Chartered Financial Analyst and Certified Financial Planner. These credentials enable individuals to develop expertise in areas like financial reporting or investment management.
Over time, a professional can create or stack a portfolio of credentials that can expand their knowledge base or even be used toward a formal degree program to become, for instance, a certified professional accountant (CPA).
Historically, individuals had to complete 150 hours of education, pass an exam, and complete supervised work to become a CPA. This model remains the standard, but even the more traditional field of accounting is embracing the potential of hybrid credentialing options.
Harnessing the Power of AI
Artificial intelligence is an education game-changer, as well. Financial professionals considering upskilling might not know the best places to invest their time and resources. That’s where AI-driven platforms come in to analyze learners' strengths and weaknesses.
AI tools can suggest programs that can enhance an individual’s development in a given area, like financial planning, helping busy professionals avoid taking redundant courses. AI can even generate study plans and assist with exam prep to give learners the best chance of a successful outcome.
But learning is not just about memorization. Thanks to AI, learners can experience simulated scenarios where they must apply their newfound skills.
Other simulations may cover financial planning case studies, forecasting, or crisis management. All of these scenarios present learners with risk-free opportunities to put their skills to the test in very relevant, real-world situations.
As a result, they’ll be better prepared to tackle problems successfully - and potentially advance their careers.
Focusing on Competency-Based Education
Traditional degree programs look at credit hours to determine when someone has reached the finish line and can earn a degree. But working adults don’t have time for educational models like these, especially if they must attend all classes in person.
Competency-based education (CBE) has become a popular alternative, as it focuses on what learners can do after they finish a course. For individuals in evolving fields like finance, CBE allows learners to demonstrate their comprehension of new skills in areas like risk management or auditing as a means to earn a credential.
Further, some employers are even sponsoring ongoing learning opportunities for employees. Depending on the size of the firm, employees can get reduced or eliminated tuition costs for some certificate programs or tests associated with industry-recognized credentials.
Increasingly, employers recognize that education is a critical piece of an employee’s success and engagement with an organization. Efforts to support professional development can also contribute to stronger retention rates, helping companies avoid the disruptions associated with employee turnover.
The Ongoing Impact of Hybrid Learning
Hybrid learning is here to stay as a convenient and accessible form of education. For individuals in competitive fields like finance, pursuing targeted learning opportunities can enhance skill sets and lead to greater career potential.
Traditional programs may work well for many, but working adults need flexibility to expand their knowledge base. Stackable credits and AI-powered learning platforms make it easier to engage in lifelong learning.
And, thanks to the growing support of employers, many financial professionals can pursue these opportunities without gouging their budgets. With so much at stake in the financial industry, having well-trained and motivated professionals managing money is essential.
