FINANCIAL SERVICES

North West Region

Strategy and Plan for 2009/10

Why does NSAFS North West exist?

What are we here to do?

Vision:

To ensure that the UK has a better educated financial services workforce.

Mission:

To be the leading body for the development and delivery of education, skills and training solutions for the financial services sector.

Key deliverable for 2009 / 2010:

Deliver 1150 learners through our Providers and courses.

We have built an integrated model to achieve our goals . . .

Our vision is to ensure the UK has a better educated

financial services workforce by being the leading body

for the development & delivery of education, skills and

training solutions for the financial services sector

Target

New entrants to work

Returners to work

Experienced, but new entrants to the FS industry

Existing Workforce

Products Providers Employers

Full time study levels 2-5

Earn and learn levels 2-5

Technical/professional quals.

Bespoke leadership and management qualifications

Financial capability and money management

Skills Solutions (Lead)

Liverpool CommunityCollege

The Oldham College

St Helens College

West Cheshire College

Retail Banking

Build the Brand to achieve our objectives

Financial Capability for All

Wholesale Banking

Insurance

Life Assurance & Pensions Admin.

3rd Party Admin.

Investment Management

Financial Advice

Our deliverables are based around 5 key strategic themes:

Be a demand & employer led organisation

Board membersrepresent financialsub sectors.

Increase the availability of new entrants

Ensure long term

sustainability

Improve the quality of training

undertaken

Increase in education,

skills & training

available

Employers receivingdirect training.

We can evidence business benefits.

We see a growth in sponsorship.

Demonstrate a varietyand range of courses.

Increase ourlearner numbers.

Grow ourNetwork of providers.

Improve qualificationsuccess rates.

Evidence of business benefits.

Learners showing interest inemployment in the financial services industry.

Prepare cost structurefor value for money.

Increase income levelsto cover costs.

GrowApprenticeships.

Grow foundation degrees and diplomas.

Grow our young learner numbers.

Grow non-traditionalentrant numbers.

Grow financialcapability programme.

We want to deliver 1150 new learners in 2010.

But that’s not all. For this year, we want to:

Look for 685 new learners to the industry and up skill 465 learners from the existing workforce.

Have a full Regional Employer Board in place to drive the Academy forward.

Hear that Employers are positive about their experience with the Academy and are keen for more.

Have pass rates that exceed government expectations.

Ensure that our suppliers work well in partnership and surpass our learner and employer requirements.

Build a pathway and financial plan for long term sustainability.

Our target market consists of 3 key areas:

Bringing new talent, both young and not so young, to the financial services industry.

Up skilling our existing talent within the industry.

Ensuring everyone has access to building their own financial capability.

There are 5 key product provisions:

Apprenticeships

Leadership and Management

Foundation Degrees (coming online in 2010)

New entrant full time courses

Financial capability

In total there are 14 programmes available to choose from across our region – and growing.

We have 5 providers on board:

All providers offer courses to employers. Our colleges provide all new entrant training. Skills Solutions offers apprenticeships and other Providers are coming

online in September. We have a robust approval process for new Providers, nationally approved.

Key for 2009 / 2010: We need to put formal procedures in place to measure Provider qualitative

success, led from the centre. We need a provider in Lancashire.

Lead Providers: Skills Solutions

Other Providers: Liverpool Community College,

The Oldham College, St Helens College,

West Cheshire College

Driving employer engagement is critical to our success.

Bringing new employers to the Academy.

How do we get more employers engaged in learning . . .

and through the Academy?

Employer engagement plan being built.

Board will play a key role in its delivery.

‘The Apprenticeship programme with the NSAFS/FCT is going extremely well. The Apprentices have impacted on the existing staff, with a number enquiring if they can be given the opportunity to complete an apprenticeship; CII exam interest and pass rates have also increased significantly due partly to the apprenticeship influence.’

Diane Armstrong, OPS Training Manager, AON Limited

We need to develop our brand to deliver our objectives.

The brand is nationally driven, with a PR company on board.

Regionally we are keen to promote through local media, with ‘good news’ stories promoting the Academy and employers.

Providers must market the Academy through their courses.

We need to engage the Region’s networks to promote the Academy, again key role for the Board.

The Academy is part of a wider network of stakeholders.

Financial Services Sector

Skills Council

Government funding

bodies and agencies

Employers

National Skills Academy for

Financial Services

~ Sets the standardsfor the curriculum

~ Providing demand

Learning and SkillsCouncil

Regional DevelopmentAgencies

European funding

Department of Business, Innovation and Skills

FSALearners

Experienced but new entrants to FS sector

Existing Workforce

Returners to WorkFinancial

Capability for All

New Entrants to Work

How do we become financially sustainable?

The Academy costs £122,100 each year in the North West Region

The equivalent of approx. 2,000 Academy learners

The key sources of funding are:

Income from Academy learners.

Funding for ‘special’ projects.

Employer sponsorship

Funding is in place at the moment:

Central funding will last until the end of 2010.

North West Regional Director role part-funded until March 2010.

What are we looking for from the Regional Board?

Determine the direction of the Academy in the region.

Ensure the Academy is meeting local and regional employer skills needs.

Bring their skills and talents to help the Academy achieve its goals.

Oversee the performance of the Academy in the region.

Champion the Academy to other employers and stakeholders.

Where are we right now?

Approximately 500 learners currently using the Skills Academy in the North West.

Nearly 100 employers receiving direct training intervention from the Skills Academy in the North West

Further funding secured to support financial literacy training.

Learning offer for employers defined.

Labour Market Information commissioned and developed.

Regional Employer Board established.

Three new Providers approved to network.

Business Plan and Strategic Plan developed.

KPI’s and targets agreed.

What are our plans for action?

Increase learner numbers.

Increase employer engagement

Finalise Provider network.

Agree performance monitoring mechanisms.

Continue to raise the profile of the Academy in the region.

Become financially sustainable

What are our plans for action?

Objectives Actions Milestones

Increase Learner Numbers Work with providers to promote programmes to both learners and employers

Support providers to increase capacity

2009/10 – 1150 learners 2010/11 – 1655 learners 2011/12 – 2570 learners

Increase Employer Involvement Develop and implement Employer Engagement Strategy

10 Employers on REB by end 2009

2009/10 – 100 employers receiving direct training intervention

2010/11 – 125 employers receiving direct training intervention

2011/2012 – 175 employers receiving direct training intervention

60% of employers to be SME

Finalise Provider Network Identify appropriate provider for Lancashire

Identify appropriate provider for Cumbria

Explore the need for any ‘specialised’ providers

Provider Network to be fully in place by July 2010

What are our plans for action?

Objectives Actions Milestones

Agree Performance Monitoring Mechanisms

Liaise with Head Office Mechanisms to be identified by end 2009

Continue to Raise Profile of Academy Events Networking Membership of appropriate

Bodies Tactical Marketing Joint Branding

Employer Dinner to be held by September 2009

Attendance of at least one networking event per month

Membership of appropriate bodies to be confirmed by October 2009

North West Academy event to be held by June 2010

All providers to joint brand programmes and marketing by end 2009

Regular press releases for regionBecome Financially Sustainable Learner Numbers

Other Funding Capital Programme Sponsorship