Yerevan /Mediamax/.  Presentation of the report on “Training Need Assessment” in the financial sphere in Armenia, developed under the USAID Financial Sector Deepening Project jointly with VMG Partners Consulting Company, took place in Yerevan today.

Mediamax reports that the report is composed based on surveys, conducted in financial institutions and training centers. The goal of the research was to reveal the needs in the sphere of financial education in Armenia, the gap between the demand and the offer in the given market, definition of concrete measures to improve the situation and form a stable educational system in financial-banking sphere in Armenia.

The surveys were realized in 15 banks, 18 credit, 9 insurance, 11 broker companies, 4 infrastructural organizations, the Central Bank and the Ministry of Finance of Armenia.

Presenting the report, VGM Partners Director Vardan Markosyan informed that the majority of the polled pointed out to limited number of specialties, offered by educational centers, absence of differe of thon of the majority of educational programs as to the knowledge level of the students, insufficient number of qualified local teachers, high cost for attracting foreign specialists and the insufficient knowledge of the latter about the financial sphere of Armenia, etc. among the shortcomings of financial education in Armenia.

According to the report, the employees of financial institutions of Armenia most of all need risks management courses, as well as trainings on business and finance English language.

Following the results of report presentation, educational centers were suggested realizing a detailed analysis of the market, providing financial institutions with up-to-date information on their services, elaborating programs of corporate education, realizing retraining of the local teachers’ staff. The financial institutions were suggested reconsidering their approach towards education of their employees, as well as establishing internal training centers.