SECTOR SKILLS PLANNING
A Sector Skills Plan (SSP) serves as a comprehensive document that outlines the skills demand and supply resulting in the skills gaps that exist in a sector. This skills gap (scarce or critical skills) informs the development of PIVOTAL Interventions aimed at addressing skills needs in the sector. BANKSETA currently prepares 2 SSPs: one for the Banking Sector and the other for the Inclusive Banking Sector. The current five year SSP 2012-2016 and the annual updates can be downloaded from the links below.
The key objective of the Sector Skills Plan (SSP) is to identify the skills priority focus areas by investigating the economic and labour market performance of the Sector and the extent of skills mismatches to identify scarce occupations and critical skills required in the banking Sector. These in turn inform the PIVOTAL programmes that the Sector Education and Training Authority (SETA) allocates discretionary grants to in an attempt to address and reduce the skills gap. For skills development interventions to be effective they must align to the skills demanded by the banking and alternative banking Sectors. Skills planning underpinned by relevant research is imperative for the analysis and development of appropriate and relevant interventions to address identified skills priorities. The SSP provides the foundational information for decision making and informs the development of the Strategic Plan (SP) and Annual Performance Plan (APP) to ensure that interventions addressing the needs as defined through an interrogation of national priorities and drivers of change are met.
BANKSETA has identified the following five strategic focus priorities to which relevant projects are implemented and the Sector skills needs are appropriately aligned in the SSP:
- Technology, Digitisation and Analytics
- Risk Management and Compliance
- Management and Leadership Development
- Core banking products/services
- Customer relationship management