Thursday, May 24 2018

VietNamNews

New grads lack banking skills

Update: October, 31/2014 - 08:48
Students were found to lack such skills as work attitude, teamwork, communication and English. Some had little general knowledge of the banking and finance industry. — Photo vietnamnet

HA NOI (VNS) — Most banks in Viet Nam have failed to provide basic training courses to new graduates.

Vice-director of Ernst & Young Viet Nam, Vo Tan Hoang Van, said his company has spent three to four weeks to retrain students to meet the demands of the workplace.

"The quality of the personnel input that the colleges provide us does not live up to our expectations," Van said. "Vietnamese students tend to have problems with general knowledge. For example, very few banking-finance students really grasp the meanings of the Law on Credit Institutions."

His feelings were backed by Luu Trung Thai, former vice-director of the Military Bank (MB) who said the quality of banking-finance personnel was challenged right at the first step – education and training.

"Lots of students major in banking and finance each year, but not many are capable of adjusting to the workplace. Most need to acquire enough skills and knowledge."

Despite a 250 per cent increase in the number of banking-finance staff over a decade to about 180,000 officers in 2012, the quality of personnel was still relatively low, said Tran Huu Thang, deputy director of the Personnel and Organisation Department of the State Bank of Viet Nam (SBV).

"Most new graduates have both skill and knowledge gaps to work at," Thang added.

Students were found to lack such skills as work attitude, teamwork, communication and English. Some had little general knowledge of the banking and finance industry.

A survey by the Institute of Manpower, Banking and Finance (BTCI) and the HayGroup this year showed that only about two thirds of the 32,000 banking and finance graduates in 2013 were recruited, leaving another 12,000 unemployed or unable to get a job inside their major.

Forty per cent of banks said they still did not have enough employeest, according to a report in the first quarter of this yhear by the SBV's Department of Monetary Statistics and Forecasting.

Banks also struggled to recruit executives in specialised fields, especially risk management, general management and investment. The banks have had to use foreign experts to fill the positions, despite the high costs.

Meanwhile, the SBV forecast that the demand for executives would climb to about 94,000 people in 2015. — VNS

Send Us Your Comments:

See also: