Across the world, the finance profession is evolving beyond traditional accounting and reporting. Today’s most sought-after professionals are not just number crunchers; they are strategic thinkers who understand data analytics, automation, sustainability, and risk management. In the Maldives, this shift has been slower to take root, but the need for it is becoming increasingly clear.
As the country’s economy diversifies, businesses are beginning to demand more from their finance teams. It is no longer enough for accountants and financial controllers to simply close books or prepare statements. Modern finance functions are expected to analyse data in real time, forecast future scenarios, and guide decision-making that supports growth. In this new landscape, companies that continue to rely solely on conventional qualifications and experience may find themselves at a disadvantage.
Skill-based hiring, recruiting and developing professionals based on demonstrable capabilities rather than job titles or years of experience, offers a way forward. It allows organisations to identify individuals who bring a blend of technical expertise and adaptability. For instance, a finance officer who understands automation tools or data visualisation platforms can save a company time, improve reporting accuracy, and uncover insights that traditional systems overlook. Similarly, knowledge of sustainability accounting and environmental risk assessment is becoming essential as businesses face growing expectations around ESG reporting and responsible investment.
For Maldivian companies, investing in skill-based hiring also means investing in long-term resilience. The country’s reliance on a small pool of finance professionals often leads to talent shortages and wage pressure. By widening the criteria for what makes a candidate valuable, prioritising skills in data literacy, digital finance, compliance, and sustainability, organisations can cultivate stronger teams from within rather than competing over a limited number of experienced hires.
Upskilling existing finance teams is another critical step. Training programmes, online certifications, and cross-functional exposure can transform traditional accounting staff into multi-skilled professionals who can handle digital transformation, budgeting for green projects, or managing financial risks in a globalised market. Such development not only strengthens company performance but also improves employee retention by giving professionals a clear path for growth.
As artificial intelligence, automation, and digital payment systems become more integrated into Maldivian business operations, the future finance function will need to be faster, smarter, and more strategic. Skill-based hiring ensures that the people leading these functions are prepared for what comes next.
For companies that want to thrive, the challenge now is to look beyond degrees and job histories and start recognising the value of skills that drive transformation. The Maldives’ next generation of finance leaders will not just manage money; they will manage change.
