New Financial Services Apprenticeship Standard Gains Support

Six leading professional bodies in the banking and financial services industry have lent their support to a new Apprenticeship Standard, the Financial Services Professional.

The London Institute of Banking & Finance, the Chartered Banker Institute, the Chartered Institute for Securities & Investment, the CFA UK, the Chartered Institute of Credit Management and the Pensions Management Institute are working together and with employers to promote the qualification, as well as supporting its delivery.

The Financial Services Professional Apprenticeship, as a degree-level, Higher Apprenticeship, means apprentices joining the industry will have the opportunity to study towards a recognised degree or professional qualification. It covers a range of roles and skills which are crucial to a career in the global financial services industry. These include retail, commercial and investment banking, operations and workplace pensions, among others. It can also be used for existing members of staff looking to progress their careers.

The Apprenticeship Standard is expected to be approved by the Department for Education in the coming weeks and will soon be offered by select employers.

Mike Thompson, Director Early Careers at Barclays, and Chair of the trailblazer group for this apprenticeship standard, said:

“The new Financial Services Professional standard will be the first degree apprenticeship standard in the financial services sector, and will create a single umbrella entry pathway into the diverse parts of financial services, particularly in banking which is traditionally viewed as a sector only university graduates work in. Through apprenticeships we can open up opportunities to people from all backgrounds with the ability to earn while they learn, in our exciting and fast-paced industry.”