Financial Services
Skills Council

The Financial Services Skills Council (FSSC) is an independent, employer-led organisation, established in 2004 to provide strategic leadership for education, training and skills development for the financial services industry across the UK. It aims to improve productivity and business performance by ensuring that the industry is equipped with the range and level of skills that it needs.

What does the FSSC do?

The FSSC has a wide remit which includes:

Representing employers' interests and influencing the planning and funding of education and training across the UK
Leading the review of examinations initiated by the Financial Services Authority and determine the standards and syllabuses for each exam
Providing labour market intelligence about the financial services sector.

Why is financial services important?

The financial services sector is central to the UK economy, generating over 5 per cent of UK GDP and with a turnover of more than £46bn a year. It employs more than a million people in more than 35,000 companies, and affects every single person in the UK.

The FSSC sets performance standards for the entire sector, including banking, building societies, insurance companies and brokers, independent financial advisers, investment administration and pensions.

Who are the members of the FSSC?

Financial services firms can become members of the FSSC, getting involved in FSSC forums and industry consultations, getting help with tackling skills and productivity issues and obtaining access to research and labour market intelligence.

Trade bodies and industry associations can become affiliate members of the FSSC.

What’s the relationship between the FSSC and the National Skills Academy?

The National Skills Academy for Financial Services has a close relationship with the FSSC, which led the successful bid for its approval in 2006. The Skills Academy will be represented on the FSSC Board and the Chief Executive of the FSSC sits on the board of the Skills Academy.