The Financial Services Skills Council has developed the blueprint of a degree in financial services, which has been approved for use in England.
The framework will be used for the delivery of all financial services foundation degrees.
The FSSC says the plans have been approved by Foundation Degree Forward – the body that approves all new foundation degrees – and has been commended by FDF director Gay Bligh as “a model of good practice”.
A foundation degree takes an average of two years to complete. They are one level below an honours degree and get university validation.
The course will be a combination of academic study with work-based learning and experience. Students can then convert it into an honours degree by doing a third year of study.
Development of the FSSC framework started in December 2005 and has involved a number of big employers in the industry, including Abbey and Norwich Union, and sma-ller IFA companies.
The first foundation degree operating in the sector is at City College Norwich, with at least three more schemes using the new FSSC framework planned for launch in autumn 2007.
FSSC chief executive Teresa Sayers says: “Foundation deg-rees are pretty new to finan-cial services and we have been impressed by how enthusiastic employers have been as they have found out more about them.
“We have worked extremely hard to ensure that the new framework reflected employers’ views and we are deligh-ted by the commendation we have received from Foundation Degree Forward. I would like to urge professional bodies and education providers to find out more.”