IOB advances skills framework to strengthen Ireland’s funds sector workforce

The Irish Office of Banking (IOB) has launched the next phase of its Financial Services Skills Framework, targeting the funds and investment management sector.

The framework, developed with Irish Funds, builds on the earlier retail banking phase and aims to help organisations identify, assess, and develop essential workforce skills.

The initiative is created in collaboration with employers, industry bodies, state agencies, and education partners, aligning workforce capability with evolving business, regulatory, and technological demands. It maps skills across four proficiency levels and links them to validated training programmes, enabling professionals to chart personalised learning journeys and helping organisations plan, recruit, and develop staff based on skills rather than roles.

Melíosa O’Caoimh, IOB president and Ireland country head of Northern Trust, said: “The expansion of the resource will support a further 19,500 professionals directly employed in Ireland’s funds industry. This innovative resource, led by IOB, will enable funds firms and professionals to strengthen their skillset and anticipate and manage future skills requirements.”

Mary O’Dea, CEO of IOB, added: “The Skills Framework demonstrates the power of collaboration between education, government and industry. The funds sector plays a critical role in Ireland’s economy and this new phase provides professionals and organisations with a clear, accessible roadmap to develop and validate the skills required to sustain growth, innovation and inclusion.”

Pat Lardner, CEO of Irish Funds, commented: “Skills development sits at the heart of every major transformation in the funds and asset management industry - from green and digital transitions to evolving regulatory developments. The Irish Financial Services Skills Framework offers a powerful and practical response to these challenges and opportunities.”

Read the full article for details on how the framework will shape workforce development in Ireland’s financial services sector.