Teaching finance is different in the GCC

Does teaching finance in the GCC present different challenges from teaching the same subject elsewhere? How easy or difficult is it to teach in the GCC? I’ll rephrase the question: how tough is it to be an impactful exam prep trainer?

It’s a valid question, as each region is unique with its own social and cultural practices that require different approaches, as Mira Raley wrote in her recent blog post.

I have been delivering CFA test prep in the region for more than a decade. Just to give some context, CFA stands for Chartered Financial Analyst. It’s a title bestowed on you after wading through a vast curriculum, passing three grueling exams totalling 18 hours over a minimum of two years and after accruing four years of qualifying work experience. So not a walk in the park.

 The challenges of teaching

You have to be a graduate to enrol for the CFA program and the majority of my students were graduates of local colleges. But to be honest, a lot of these colleges have low entry criteria, relatively less rigorous curricula, low student workloads, easier exams and less demanding faculty. In addition, the financial services sector in the GCC is tiny and undeveloped compared to some other markets, so most students walk into class without any relevant experience.

The combined effect of all this is that most students are unprepared – either aptitude and attitude wise – for the unrelenting rigor of the CFA program. They lack analytical and quantitative skills, and aren’t aware of the basic documents of Financial Services like Annual Reports, Capital Markets and Research Reports. They simply haven’t experienced anything like it. And, of course, the vast majority aren’t native English speakers which presents another challenge.

So the trainer has to do more than just deliver a lesson, which is what happens (and what is needed) in the UK, the US and some other developed countries.

As a trainer In the GCC, you have to simplify, interact, inspire, and ‘hand hold’ a lot. You have to work with the basics, and to connect individually. There’s a lot of out of class mentoring and doubt clearing, because some students don’t grasp concepts quickly enough. Many give up at the first sign of difficulties and you’ve to constantly motivate them. All this can be quite exhausting and frustrating (especially when some fail despite your best efforts!) and you really need to be passionate about teaching to look past all these and succeed.

 Developing your training skills

Enough on the challenges, lest I sound like Mr Gloom: there are some interesting and rewarding upsides.

Because many students need extra help, they are highly appreciative of the extra efforts a trainer puts in. Many also develop a close bond with the trainer, a bond that endures well after they pass and get their charter – quite a few students have become good friends of mine.

Also, as a trainer, you are called on to use traits and skills not normally deployed in other parts of the world. For example, you’re constantly trying to simplify the most complex topics (researching online and using mind maps, examples and exercises), and so you become an even better trainer and mentor as a result. My experiences inspired me to go back to school twice as a trainer, getting my Mental Toughness Licensed User Training, as well as qualifying for my ILM Level 7 Certificate in Mentoring and Coaching. It also inspired me to start a niche podcast channel (www.therealfinancementor.com) which published its fifth episode, where the idea is to deliver practical insight and inspiration for careers in finance by talking to practitioners and soft skills experts.

Bottom line? Yes, there are challenges to teaching in the GCC. But if you wish to make an impact as a trainer there are few places you’d rather be.