Financial services leaders face complexity and training gap

Eighty-five per cent of senior leaders in the UK financial services sector say their roles have become more complex over the past five years, yet a quarter have not received suitable training to do their job well, according to research from Alliance Manchester Business School (AMBS).

The business school commissioned Censuswide to survey 500 managers, directors and C-suite executives in UK businesses. Of those, 59 worked in financial services.

Across all 500 respondents, 73 per cent said their roles had become increasingly complicated over the past five years. Among those in financial services, the figure was 85 per cent.

What is driving the change

Financial services leaders were asked which factors had made their roles more complex since 2020. The most commonly selected was increased cybersecurity and data privacy risks, chosen by 38 per cent.

The rise of remote working followed at 36 per cent, and the emergence of new technologies such as artificial intelligence at 32 per cent.

New regulation and legislation was selected by 24 per cent. The same proportion cited managing reputational risk in a 24/7 media and social media environment.

The survey also asked leaders about confidence in their own performance. According to AMBS, 54 per cent of financial services respondents said they worry about remaining relevant and competent as the business and management world evolves.

A further 53 per cent said they regularly doubt their judgments at work. AMBS said this was well above the 40 per cent average recorded across other industries.

Training gap

Despite the reported increase in complexity, the AMBS data shows that 25 per cent of senior decision-makers in financial services have not received suitable training to enable them to do their job well and manage effectively.

When asked which areas they would most like formal training in, financial services leaders most often placed financial analysis in their top three, at 44 per cent.

Understanding AI and how best to leverage it was selected by 39 per cent, and managing digital transformation projects by 36 per cent.

Bank of England governor Andrew Bailey has separately warned that AI training is critical to the future of UK jobs.

Business Matters has previously reported on UK firms facing skills gaps and turning to AI and upskilling to fill them.

AMBS said the research explored how business leaders are coping with increased complexity when making decisions and performing in their roles, including challenges such as AI, geopolitical conflict and difficult economic conditions.

Arif Khurshed, Professor of Finance at Alliance Manchester Business School, said: “There is a huge amount at stake when leaders in the financial services sector make decisions. Money can be on the line, trust is paramount and the industry is highly competitive.

“Throw in increasing business complexity, which our research highlights as a common concern, and it is clear that leaders are facing significant challenges.”

He added: “We cannot underestimate the importance of organisations supporting their leaders and equipping them with the right tools to navigate a constantly-evolving business environment.

“In doing so, businesses can ensure that they retain and get the best out of their talent, and ensure they are best placed to navigate the challenges and opportunities to come.”

The financial services figures are drawn from a sub-sample of 59 respondents within the wider survey of 500 leaders.

About the author

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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