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Financial Services Skills Council puts all staff on consultation

All staff at the Financial Services Skills Council have been put on a 30-day consultation notice, Money Marketing can reveal.

FSSC interim chief executive Liz Field has confirmed to Money Marketing that all 37 staff have been given a letter notifying them that a consultation process is taking place.

Field says she does not yet know how many redundancies will result from the consultation.

She says the process follows recommendations made by Simon Ellis, who headed the independent review of the FSSC for its relicencing bid, about staff efficiencies and essential skills needed at the Council.

Field says: “As part of the strategic review we need to look at the organisation, reorganise the roles and conduct a review of the roles. The process will last for 30 days and at the end of it we will be talking to the individuals whose roles have been affected.”

In May the FSSC was denied a new licence by the Government, with Skills Secretary John Denham saying the body “did not meet the standard required”.

The Government ordered it to review its strategy and Simon Ellis was appointed to lead an independent strategic review of the council.

It made its submission for re-licencing on September 30 and a decision from the Government is expected in January 2010.


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There are 6 comments at the moment, we would love to hear your opinion too.

  1. Does anyone know why this Council was set up. More to the point – who pays for it?

  2. Good point richard, who does pay for this. Is it another quango?

  3. What’s it all about… Alfie?

  4. No one will miss any of these people. Get rid of every last one as soon as possible. They would then have to start looking for real jobs – not that any one of them will be qualified to do a real job….including this dozy Field woman

  5. I would guess that the people working there are just trying to do their jobs, just like anyone else, Billy boy.
    Namely to improve the skills of staff working in the financial sector. Unfortunately they can’t help improve the HONESTY of such staff.
    By the way Billy, what do you do that makes you so self righteuos?

  6. Clive Shelton FSI 31st October 2009 at 7:07 pm

    There was a great deal of enthusiasm from practitioners when the FSSC first started. Sadly it lost its way, failed to communicate properly with the industry and has gone through a tough period. It needs to complement the work of professional institutes and concentrate on the core task of getting PBs and exam bodies working together more efficiently and help to restore trust. I think we should give Liz Field our support in implementing the agreed recommendations from the Simon Ellis review. The first task is to put some people with practical industry experience in place.

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