About the Contributor:
Gergely Fábián, Executive Director, National Bank of Hungary and CEO of Budapest Institute of Banking
Since September 2017, he has been heading the Executive Directorate of Financial System Analysis and Statistics.
Gergely is Chief Executive Officer of the Budapest Institute of Banking (BIB) Private Limited Company since 2017, the year of its foundation. His goal is to support the competitiveness of the banking system and SME sector with digital transformation and sustainability education in addition to traditional risk management and compliance courses through the operation of the training institute.
Since March 2015, until his appointment as Executive Director, he had been functioning as Director of the Financial System Analysis Division. In September 2009, after graduating from the University of Maastricht, he started working as an analyst in the Financial Stability Area at the National Bank of Hungary, where he was heading the analytical department as from 2013.
Within the framework of the EKKV project, Gergely is the author of the 8th, namely the Financial Planning and Financing module that was launched in 2021. The free e-learning program is designed to support companies, businesses in Hungary. Module 8 facilitates the conscious financial planning of companies with a business plan and descriptions of different forms of financing.
Introduction to the Article
Gergely’s article is a part of the Academic and Industry Paper titled: The Role of the Government in Education. His paper focuses on the dire need to reskill and upskill talent amidst today’s rapid technology developments, with a spotlight on Hungary. According to Cedefop, the European Union’s reference centre for vocational education and training, the share of the adult population with potential for upskilling and reskilling is estimated to range between 31.6% and 40.4% of the total adult population (1.7 to 2.2 million adults) based on a snapshot from 2016. The actual need today might be much higher and more severe for several reasons.
The question we need to ask today is not about if the State has to play an important role to tackle upskilling and reskilling, but rather the real question is how.