22 Apr 2009

NSAFS celebrates success of financial capability project pilot

The National Skills Academy for Financial Services (NSAFS) celebrated the achievements of a key initiative within its Financial Capability Project last night. The Lord Mayor of the City of London, Ian Luder, hosted the event at Mansion House accompanied by Sylvia Perrins, CEO of NSAFS, Tony Vine-Lott, NSAFS Chair, and Chris Pond, Director of Financial Capability at the Financial Services Authority (FSA).

NSAFS’ Financial Capability Project is aimed at extending the reach of personal money management skills to further education students and other groups, including hard-to-reach communities.

Sponsored by the FSA through its Money for LiFE initiative, the event highlighted the success of ‘Money Week’, a programme of special events to promote financial education among further education students and staff.

Held in March, the events reached over 12,000 learners through 30 colleges, including eight Skills Academy training providers in London, Yorkshire & Humber and the South West. The project will be extended in 2010 to more colleges and other regions.

Fun, informative and practical events included exhibitions and talks for students and staff, with expert advice. The activities ranged from evaluating supermarket own products against brand names and shopping on a budget, to getting expert advice from local IFAs and financial services providers.

Sylvia Perrins, Chief Executive Officer, says: “Money management is an essential life skill. Money Week is a chance for us to reach further education students, helping them to gain knowledge about managing money to prevent them from getting into difficulty.

“Money Week was a very successful event and we are looking forward to expanding the project next year. It demonstrated NSAFS’ commitment to encouraging learners of all ages to participate in enhancing their financial skills.”

The National Skills Academy for Financial Services offers national centres of excellence in education, skills training and development, led by employers to develop a workforce with the knowledge and skills they need to match the best in the world. A key part of its work involves financial capability training, with the aim of developing better informed consumers and employees.

The Lord Mayor of the City of London Ian Luder said: “I am very pleased to support the National Skills Academy for Financial Services. The theme for my mayoral year is Financial Literacy for the nation. I chose this because too often I meet people who don’t really understand their financial position or the choices open to them. A generation of people are growing up in Britain today with no practical financial
management skills, which in the long-term is bad for all of us.

“It is vital that financial services professionals work together to help transform the landscape by raising awareness of the issues and helping educate and thus empower the coming generation. The NSAFS’ Financial Capability Project is aiming to do just that.”

Notes to Editors

1. The National Skills Academy for Financial was created with the express purpose of delivering world-class education and training aligned with employer needs in the financial services industry to people of all age groups and learning backgrounds, helping them to prepare for and develop financial services careers. For more about the National Skills Academy for Financial Services or to get involved, email info@nsafs.co.uk.

1. The National Skills Academy for Financial Services Money Week is part of the Financial Services Authority’s National Strategy for Financial Capability, and its ‘Money for LiFE’ project. Through the strategy, the FSA has set up several UK-wide projects. These help school children, students in further and higher education, people not in education, employment or training, new parents and employees to improve their ability to manage money, keep track of finances, plan ahead, make informed decisions about financial products and stay up to date with financial matters. For more information visit www.fsa.gov.uk/financial_capability/index.html.
2. Sylvia Perrins is the CEO of the National Skills Academy for Financial Services. Sylvia took up her post with the NSAFS as National Director in January 2007. Prior to this, she was Vice Principal of Business Development and Planning at Westminster Kingsway College of Further Education in London, having also held the position of Director of Strategy and Innovation at the same institution from 2001 to 2003. From 1997 to 2001 she was Assistant Principal Finance and Information Systems at Orpington College of FE in Kent. She started her working life as a financial and business analyst, being employed at British Petroleum plc for seven years, followed by a period of self employment, before moving into teaching and education. She holds an MBA, a Post Graduate Certificate in Education and a BSc (Econ) from the London School of Economics and is an Associate Chartered Management Accountant (ACMA). Sylvia is a Non Executive Director of the English Women’s Golfers Association.

1. The Lord Mayor is elected for one year and the position is unpaid and apolitical. It is an exceptionally demanding role. The Lord Mayor spends some 90 days abroad and addresses some 10,000 people face-to-face each month (making around 800 speeches a year). The Lord Mayor listens to City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well. The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister. On average, the Lord Mayor will meet one head of state a month and will meet a prime minister or finance minister each week to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor, who is unpaid, lives in the Mansion House for the Mayoral year.

   For further information please contact Roland Cross/Sarah Evans-Toyne/James Bishop/Tania Vie Riba (Broadgate) 020
   7726 6111 or email nsafs@bgate.co.uk.

   Share this:

   | More