Structure
The National Skills Academy for Financial Services (NSAFS) is designed to ensure the provision and delivery of training in the financial services sector fully meets the sector's requirements.
The Skills Academy will include public and private sector provision and will ensure that all delivery is to the highest standard.
National Board
The Skills Academy National Employer Board will have a majority membership of employers, of around 10-12 sponsors of the Academy. These will be non executive directors.
The Board members representing employers will initially hold their post for two years. After that they can stand for re-election.
The Chief Executive and Education Director of the Financial Services Skills Council (FSSC) will also sit on the Board, representing the FSSC. These are permanent Board positions.
The Chair of the Board is elected by the Board members and holds the post for two years.
The Board is responsible for the strategic direction of the National Skills Academy and will ensure its strategic aims meet the needs of the industry.
Regional Employer Boards
Regional Employer Boards (REBs) will have a mix of between 7-10 employers who are supporting the work of the Academy regionally.
These boards will also have representatives of the regional Learning and Skills Councils, Regional Development Agencies and Regional Skills Partnerships. There will also be regional learning providers represented on this board.
The role of each REB is to determine training and skills priorities for their region, ensure implementation of national initiatives and branding while making recommendations to the Operating Management Group and Skills Academy Board about potential providers and emerging needs for the sector.
The REB will also work with the supply side to deliver improved skills to meet the current and future needs of employers. This will align with the FSSC Sector Skills Agreement.
Skills Academy Lead Providers
Skills Academy Lead providers (origionally known as Support Partners) help to set up the Skills Academy in their regions, including the Regional Employer Boards.
National and Regional Skills Academy Regional Directors
A team of a National and Regional Academy Directors will manage the Skills Academy roll out, ensure that Skills Academy policy is consistent and adhered to and that communication flows between national and regional levels.
Once the REB is formed it will need ongoing support in identifying and assessing potential new learning providers as well as providing and reviewing performance reports. This support will be provided by the Skills Academy Regional Directors.
They will also deal with any returns that are required and through the network will provide management information on students and achievements.
Learning Providers
Learning providers will deliver the Skills Academy curriculum. These may be either public (schools, colleges, universities) or private sector training providers, accredited to ensure a high standard of provision and tasked with delivering the training identified by employers as necessary for the future success of the sector.
There will be clearly articulated standards for these providers with ongoing feedback about the quality of the delivery and the relevance of the training being delivered. Any providers seeking to become part of the Academy will need to be accredited by the FSSC.
Curriculum Group
A Curriculum Group will make recommendations to the National Board and OMG regarding what courses and qualifications to include, what not to include and the development of any new qualifications. This group will provide advice on matters such as: the needs and priorities of employers and potential Academy learners; broader elements of the Academy’s programme including financial literacy, careers awareness and education; practical issues of implementation of programmes, including requirements and timescales; standards and accreditation of providers within the Academy Network; liaison with Awarding Bodies and Professional Bodies via FSSC Qualifications Forum; issues relating to learner numbers and funding.