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BANKING AND FINANCE

Financial Services Administrator Apprenticeship Level 3

The Financial Services Administrator Level 3 Apprenticeship equips individuals with a broad understanding of the Financial Services market and is an ideal entry point for a career in the sector, with a wide range of progression routes available once completed.

This apprenticeship provides the skills and knowledge to better understand the Financial Services regulatory and ethical requirements to provide high quality customer and administrative support within a financial services role.

Typical job activities for this role may include:

  • Providing general office administration and support in a financial environment
  • Customer services including handling complaints or providing information on products and services
  • Maintaining customer records and adhering to compliance procedures.

This would suit businesses that either provide advice and guidance within a regulated financial planning, mortgage or insurance capacity, or companies that provide support services for these businesses.

Level: 3
Qualification gained: Chartered Insurance Institute (CII) CF1 or R01.

Please note that CF1 is our recommended qualification. Where employers feel that there is evidence of higher academic aptitude, the apprentice could opt for R01 which is the more demanding and higher level qualification paper.

Contact the team
1. Standards to be met
2. Length of apprenticeship
3. Qualification
4. End point assessment
5. Progression
6. Funding

Standards to be met

The Apprenticeship standard sets out the essential Knowledge, Skills and Behaviours that somebody would need to demonstrate to be successful in this job role, this includes a good understanding of financial services products relevant to their role, developing effective relationships with customers, and showing drive and energy in their work even when challenges arise. Apprentices will need to show they are competent in all the areas detailed in the standard when they take End Point Assessment.

The Knowledge areas of the apprenticeship will be covered through completion of our dedicated training modules which have been mapped to the standard. The Skills and Behaviours are developed through practical experience gained in the job role, workplace training and mentoring, and the completion of a work-based project.

Knowledge

  • Financial Services Market keyboard_arrow_up keyboard_arrow_down

    The apprentice understands the structure of the Financial Services market, including the role of the financial adviser and product providers, customer outcomes, support services and platforms.

  • Regulatory and compliance keyboard_arrow_up keyboard_arrow_down

    The apprentice understands the Financial Services regulatory framework, the ethics and key principles of the advice process.

  • Products keyboard_arrow_up keyboard_arrow_down

    The apprentice understands the purpose of and technical content of the financial services products and services provided by financial organisations.

  • Systems and processes keyboard_arrow_up keyboard_arrow_down

    The apprentice understands all systems and processes required to deliver their role outcomes.

    They have an awareness of how the systems and processes fit within the wider company as well as the financial services industry.

Skills

  • Quality service delivery keyboard_arrow_up keyboard_arrow_down

    The apprentice is able to respond to customers, colleagues and advisers in a timely, accurate fashion, within service standards.

    They take ownership of issues, escalating those which cannot be solved and follows through to ensure action has been taken.

    The apprentice is realistic when agreeing actions and can provide regular progress updates.

    They embody and represent the values and ethics of their organisation.

  • Customer communication and relationships keyboard_arrow_up keyboard_arrow_down

    The apprentice builds rapport with customers and demonstrates empathy and understanding when dealing with them.

    They effectively deliver to customers’ satisfaction.

    The apprentice can demonstrate consistent, accurate and appropriate communication through all relevant media channels.

  • Team working and collaboration keyboard_arrow_up keyboard_arrow_down

    The apprentice is an enthusiastic and positive team member, who shares knowledge, ideas and experiences with the wider team to assist in continuous improvement.

    They are able to ask questions and challenge others positively.

  • Planning and prioritising keyboard_arrow_up keyboard_arrow_down

    The apprentice consistently prioritises time and activities accordingly, managing resources as appropriately.

    They are able to take ownership of their workload to deliver results.

  • Using systems and processes keyboard_arrow_up keyboard_arrow_down

    The apprentice can demonstrate a proficient use of IT systems and processes relevant to their role.

    They are able to consistently utilise systems accurately and appropriately, complying with regulatory requirements as appropriate.

Behaviours

  • Honesty and integrity keyboard_arrow_up keyboard_arrow_down

    The apprentice can demonstrate integrity and ethical behaviour in the way they do their job and are able to be open and honest.

  • Adaptability keyboard_arrow_up keyboard_arrow_down

    The apprentice is able to demonstrate a flexible approach and respond positively to change.

  • Enthusiasm keyboard_arrow_up keyboard_arrow_down

    The apprentice is able to consistently demonstrate a positive approach to work and do what is needed to get the job done.

    They are able to suggest ways to improve how work is completed.

  • Dependability keyboard_arrow_up keyboard_arrow_down

    The apprentice is able to be at work and engaged in work when required.

    They take ownership of activities relevant to their job role.

  • Personal Commitment keyboard_arrow_up keyboard_arrow_down

    The apprentice can seek ways in which to develop their own knowledge and skills within their role.

    They share knowledge and experiences with others to assist in their learning journey.

Length of Apprenticeship

The End Point Assessment cannot be taken until the apprentice has been on programme for at least 12 months. Practically speaking the length of this Apprenticeship will usually be between 18-24 months, depending on the qualification chosen and prior experience.

Key milestones:

verified_user Technical qualification
laptop Ongoing skills and behaviours
person_pin Talent coach check in
border_color End point assessment


 
START OF APPRENTICESHIP
 
 
Month 1
person_pin Induction and sign up

 
Month 2
verified_user Self-study resources

laptop Personal commitent and enthusiasm

 
Month 3
laptop Using systems and processes

person_pin Talent coach check in

 
Month 4
laptop Dependability, planning and prioritising

border_color EPA preparation (months 4-9)

 
Month 5
laptop Financial services market and products

verified_user Financial Services, Regulation and Ethics (CF1)

 
Month 6
person_pin Talent coach check in

 
Month 7
laptop Regulatory and compliance, and quality service delivery

 
Month 8
laptop Regulatory and compliance, and quality service delivery

 
Month 9
laptop Customer communication and relationships

verified_user Exam

person_pin Talent coach check in

 
Month 10
laptop Honesty and integrity

verified_user Practice in role

border_color Work based project

 
Month 11
laptop Team working and collaboration

 
Month 12
laptop Adaptability

person_pin Talent coach check in

 
Month 13
border_color Gateway

border_color Complete project report and portfolio

 
Month 14
border_color Submit project report and portfolio
 
Month 15
border_color Panel interview

 
Month 16
border_color Completion

Qualification

This Apprenticeship includes a mandatory Professional Qualification paper from the Professional Body, Chartered Insurance Institute (CII), typically papers R01 or CF1.

Entry requirements

This Apprenticeship is for individuals who do not have prior qualifications. If an individual has IF1 or any credits linked to CISI, CII, CeMap or similar they are unlikely to be eligible.

Apprentices without Level 2 English and Maths will need to achieve this level before taking the End Point Assessment.

End point assessment

Every Apprenticeship includes an End Point Assessment (EPA), assessed by an independent End Point Assessment Organisation (EPAO). The apprentice will take their EPA at the end of their programme where they will demonstrate they are competent in the role that they have developed in.

This Apprenticeship Standard End Point Assessment will include:

Work Based Project

This will be a project that contains real activity done in the role and will demonstrate a wide range of knowledge, skills and behaviours detailed in the standard. It’ll be completed in the last few months of the Apprenticeship. The project will be reviewed and scored by the chosen end point assessment organisation (EPAO).

Portfolio

This will include a range of recent evidence that demonstrates competence in learning outcomes not covered by the project. It will also include the apprentice’s learning records and reviews.

Panel interview / Viva

A structured interview between the apprentice and the assessment organisation (AO). The assessor will explore particular areas of the apprenticeship standard that have been highlighted during the assessment of the project and portfolio – this may be areas of strength, inconsistencies, or where the apprentice does not appear to meet the standard.

Progression

This standard puts the apprentice on the pathway towards completing further professional qualification papers with the CII, this could lead to the completion of qualifications such as the Certificate in Insurance, Certificate in Financial Services or a specialism apprenticeship (typically Level 3 or 4) depending on which paper is taken.

Funding

This Level 3 Apprenticeship has been placed in the £12,000 funding cap. If you are a Levy payer this means that the maximum that can be withdrawn from your Levy fund for somebody on this Apprenticeship is £12,000.

For non or marginal Levy payers (where you have overspent your Levy fund), 95% of the cost of the Apprenticeship will be funded by the government meaning you will only have to pay 5% of the agreed price. Please contact us for more information on the Levy and funding. 

Contact the team keyboard_arrow_up keyboard_arrow_down