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Increase technical competence with Financial Services Apprenticeships

A financial services apprentice

Apprenticeships are enjoying an increased profile across the Financial Services industry as more and more organisations see the merits of increasing their staff’s technical knowledge through professional qualifications. Apprenticeships can be used to motivate and increase quality in existing staff and can equally be used as a way to attract new talent into the business.

Here we explain what exactly a Financial Services Apprenticeship is and why they could be the key to helping you attract and retain the best talent.

What is a Financial Services Apprenticeship?

Apprenticeships are work-based training programmes. A professional qualification, such as the CII, is embedded within the Providing Financial Services framework to deliver work-based assessments and increase technical competence. The work-based element will be focussed around your business and the apprentice’s specific job role to ensure they become a valuable asset to your business.

Nurture existing staff or acquire new talent

You can upskill your existing workforce through an Apprenticeships scheme and their contract with you and status as an employee does not change, they simply start on an Apprenticeship learning programme. Anyone from age 16 can start and there is no upper limit – so almost anyone can be an apprentice.*

Apprenticeships can also help grow your business by helping you to acquire new talent. Our team of experts will help you to set up your Apprenticeship scheme, recruit the best candidates and access funding.

Industry recognised qualifications

Whether part of your current workforce or a new starter, your employee will have their work-based competence assessed through the NVQ in Providing Financial Services (Level 2/3) and will study towards a professional qualification.

Apprenticeships include CeMap, CII General Insurance, Life, Pensions and Investments, and CISI Investment Operations.

All our team have worked in Financial Services so understand the complexities of the industry and we have helped our clients by offering programmes in the following areas: Insurance Claims, Insurance Sales, Customer Service, Insurance Underwriting, Mortgage Administration, Life and Pensions Administration, Investment Processing and Operations, Trainee Mortgage Broking.

If you are currently paying for individuals to gain a professional qualification, a funded Apprenticeship could be a more cost effective way of doing this instead.

More reasons to offer an Apprenticeship

Improve technical competence: A professional qualification provides all the skills and knowledge they need – invaluable in a heavily regulated industry.

Funding available: Training could be free* as you and your apprentices could be eligible for government funding.

Extra help: You may also be eligible for an Age Grant if you have under 50 staff.

Support: An apprenticeship scheme is easy to set up as we take care of everything you. Our expert team will support you from programme development through to completion.

Minimal time out of the office: Training is delivered in the workplace so apprentices won’t need time offsite for study.

Key facts – did you know...

82% of companies say apprentices build long-term skills and capacity^

72% of businesses report improved productivity

92% of employers believe that Apprenticeships lead to a more motivated and satisfied workforce

45% of insurance employers run technical Apprenticeship programmes, with a further 12% planning to do so**

So whether you are looking to recruit new talent or nurture your existing workforce, an Apprenticeship is the ideal way to do it. Over 130,000 businesses are benefiting from having an Apprentice – will you be next?

Email Donna Jarvis, Client Solutions Manager, about starting an Apprenticeship scheme – donna.jarvis@kaplan.co.uk

 

* Free training for 16-18 year olds. Partial costs covered, plus employer contribution and exam fees registration fees for those aged 19+. Funding subject to eligibility and government restrictions, terms and conditions apply.

^ Skills for business – more to learn. British Chambers of Commerce (2011).

† National Apprenticeship Service

# Must have less than 50 employees. An incentive of £1,500* per Apprentice aged 16-24 is available, up to five grants totalling £7,500*

** CII Membership Skills Survey 2015

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