National Interests: Priorities and Security

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The impact of the digital economy on education and professional advancement of talent in the financial market

Vol. 15, Iss. 8, AUGUST 2019

Received: 18 June 2019

Received in revised form: 2 July 2019

Accepted: 26 July 2019

Available online: 15 August 2019


JEL Classification: G32, G33, M42

Pages: 1394–1405

Kazakova N.A. Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation

ORCID id: not available

Subject The article examines a set of factors influencing the transformation of professional competence among the financial market talent.
Objectives The research aims to form relevant professional competencies, substantiate popular professions in the financial market, determine future paths of higher and professional training for financial specialists in the time of the digital economy.
Methods The methodological framework relies upon analytical, quantitative, expert and point-based methods, and the systems approach to training financial specialists in demand with reference to sought-after careers in auditing and analytics.
Results Challenges the digital economy brings were found to be a driving force for modifying educational programs, setting new disciplines, implementing practice-oriented technologies for communicating with the business environment. High demand for IT and analytical talent in public administration, business and science is showed to encourage universities to create Master's programs raising necessary competencies. The article presents the comparative analysis of ratings assigned to identical Russian and foreign programs. I traced premises generating the demand for such financial professions as analysts and auditors, and introducing a new qualification exam for auditors in accordance with international standards of education.
Conclusions and Relevance The digitization of business processes will transform competencies, professions and financial training courses respectively. Specialists in the financial market are expected to have robust knowledge of the Russian and foreign methods for economic research, skills in adjusting and adapting analytical techniques for a specific assignment, subject or business process, and use the risk-oriented approach and up-to-date software and hardware. As digital technologies become ubiquitous, the proposed model of the financial market competencies can underlie the concept for educating and developing financial specialists, and a new model for their professional certification as an alternative to international qualifications.

Keywords: digital economy, financial technologies, business analysis, professional values


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