The Financial Services Skills Council’s Accreditation board of Training Excellence for Providers is allowing a wider range of evidence to be submitted so that trainers can demonstrate their expertise and gain accreditation.
The scheme is designed to demonstrate that training by accredited providers will add real value to their customers. The accreditation process involves audits for business and training and an external verification by auditors.
FSSC director of skills development Sarah Thwaites says that under previous accreditation rules, colleges frequently found their lack of direct access to financial services organisations prevented them from meeting the requirements.
But new evidence will allow them to submit evidence that demonstrates their vocational expertise in financial services despite not having direct exposure. Providers accredited by the scheme already include the FSA, Friends Provident and FT Knowledge.
Thwaites says: “A pilot involving eight further education providers demonstrated that they can meet the same FSSC industry standard as private providers by submitting different but valid evidence to demonstrate their vocational expertise in the finance sector.”