Within the insurance and banking sectors, technical skills were long considered a candidate’s most important asset. Knowledge of regulations, compliance, accounting standards, risk governance, Basel or Solvency frameworks, and reporting standards obviously remains an essential foundation.

However, we are seeing a clear shift today. Technical expertise remains necessary, but employers are increasingly looking at what professionals can actually do with that knowledge. Can you explain complex information in an understandable way? Can you convince stakeholders? Do you know how to translate analyses into concrete decisions?

Professionals working in finance, risk, legal, or compliance obviously need to understand their field. Without sufficient technical knowledge, it becomes difficult to assess complex cases correctly, apply regulations, or produce reliable analyses.

Depending on the role, this may include financial analysis, reporting, risk management, regulatory knowledge, or experience with specific tools and systems such as Excel, SAP, or specialised data applications.

Technical knowledge has therefore certainly not disappeared as a selection criterion. Quite the opposite. It remains the foundation on which you build your broader added value.

The difference often becomes apparent when two candidates have a comparable level of technical expertise. In that case, the way they apply their knowledge can become a decisive factor.

A finance professional who can clearly explain a complex analysis to management, for example, will often have a greater impact than someone who performs the same analysis but struggles to communicate the conclusions in an understandable way.

This is where soft skills come into play. Communication, analytical thinking, problem-solving, stakeholder management, and adaptability are becoming increasingly important.

Organisations have become more complex. Finance and risk professionals no longer work exclusively within their own areas of expertise. They increasingly interact with management, IT, commercial teams, auditors, regulators, and other external stakeholders.

This requires more than subject-matter expertise. You need to be able to interpret information, set priorities, and adapt your message to the person you are speaking to.

Digitalisation also plays a role. Repetitive tasks are increasingly being automated, allowing professionals to spend more time on analysis, interpretation, advice, and decision-making. As a result, the added value is gradually shifting from “performing a task” to “understanding what the results mean”.

The role of finance has evolved in many organisations in recent years. Reporting remains important, but finance professionals are increasingly expected to think alongside the business and contribute to decision-making.

This requires a combination of knowledge and insight. You need to be able not only to explain what is happening, but also to understand why it is happening and what the potential consequences may be.

That is why candidates who can combine technical expertise with strong communication and influencing skills are often particularly valuable.

The question, therefore, is not whether soft skills are more important than technical skills. In most roles, you need both.

A strong technical foundation ensures that you have a solid command of your field. Soft skills, in turn, largely determine how effectively you can apply that expertise within an organisation.

For candidates, this means that simply listing your technical knowledge on your CV is no longer enough. Think about how you collaborate, communicate, and solve problems as well. Prepare examples that demonstrate these skills during a job interview.

Ultimately, the strongest profiles combine subject-matter expertise with insight, communication skills, and the ability to adapt to different situations.