Competence mapping in a finance team

Abstract

This study was motivated by a personal observation that competences seem to be in a key role in the successful operation of teams and organizations and the technological and digital advances in modern working life will put more pressure in organizations to manage their competence. It is not a given, however, that organizations understand what and where their specific competences are. Competence is a “fuzzy” concept that requires contextual interpretation and adaptation. For this study, competence was defined as skills, knowledge and attitudes applied in different contexts and roles. The objective of the thesis was to obtain an understanding of the gap between existing competences and desired competences in a finance team of a company that operates in the field of non-performing loan portfolio investments. The sub-objectives of the study formed up from the identification and definition of competence and equally the actual mapping of competence. The study was limited presenting development suggestions to the management In this paper, competences were identified through a thematic analysis of interviews performed to individuals in the finance team. The identified competences were defined, and a quantitative survey was performed to the finance team, to map the level of identified competences in the team. The results of the survey indicate that some of the main competences in the team, such as general accounting competence, are on a good level, while there are also areas where competence can be developed. Examples of such competences are technological literacy and negative capability. The results provided a starting point for developing competence in the finance team.