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This Modern Apprenticeship is available at two levels making it suitable for employees with little or no experience of financial services, and to upskill an existing workforce.

Qualifications

SCQF level 5

Your employee will study for a qualification in Providing Financial Services at SCQF level 5, with a choice of the following pathways:

  • Banking
  • Insurance
  • Customer payments for financial products and services
  • Investment operations
  • Life-pensions and investments
  • Finance and credit
  • Administration for mortgage and financial planning 
Entry requirements

There are no formal entry requirements for this apprenticeship but candidates would benefit from a good standard of literacy and numeracy.

Progression and development

After completing this Modern Apprenticeship, employees will have the skills needed for the following types of role:

  • Trainee underwriter
  • Trainee claims official
  • Trainee broker or sales representative
  • Senior bank cashier
  • Senior customer adviser
  • Foreign currency adviser
  • Administration supervisor
  • Investment technician/supervisor
  • Pension team leader

They could also progress onto the Modern Apprenticeship in Providing Financial Services at SCQF level 6, and other professional qualifications, including:

  • CII Certificate in Insurance
  • CISI Certificate in Investment Operations
  • Chartered Banker Institute Banking Certificate
  • IFS School of Finance Certificate in Retail Banking
  • IFS School of Finance General Insurance Certificate

SCQF qualification levels explained

Download the framework document

SCQF level 6

Your employee will study for a qualification in Providing Financial Services at SCQF level 6, with a choice of the following pathways:

  • Banking
  • Insurance
  • Investment operations
  • Life-pensions and investments
  • Finance and credit
  • Debt collections
  • Pension scheme administration
  • Administration for mortgage and financial planning
Entry requirements

Candidates should have completed the Modern Apprenticeship in Providing Financial Services at SCQF level 5, or have equivalent qualifications or experience.

Progression and development

After completing this Modern Apprenticeship, your employees will have the skills needed to take up senior, supervisory or managerial roles in their chosen pathway. They will also be able to progress to the Technical Apprenticeship in Banking or Insurance, or other professional qualifications such as:

  • CII Diploma in Insurance
  • CISI Diploma in Investments
  • Chartered Banker Institute Professional Banking Diploma
  • IFS School of Finance Diploma in retail banking
  • Degree or MA/MSc in financial services
  • CFA Programme

SCQF qualification levels explained

Download the framework document

How is it funded?

We contribute towards training costs

We do this by paying the learning provider directly in incremental payments throughout the course of the apprenticeship.

Use our Modern Apprenticeship Contribution Table to work out the funding level for this framework.

An enhanced funding contribution is paid for employees who are aged 16 – 19. For those who are disabled and care-experienced, this is extended up to and including age 29.

Speak to a range of learning providers to find the best deal and agree on a flexible approach to meet the needs of your business.

Who pays the apprentice?

Like any other employee of your business, you’ll pay the Modern Apprentice's wages. This is not set by SDS, but we do encourage all employers to pay the living wage. Remember, you must pay at least the National Minimum Wage.

Time to complete

It will take between 12-24 months to complete.

Decide if this is the right framework for you, then...

Sound right for your business?

The next step is to find a learning provider that offers this apprenticeship.

Find a learning provider

Need a little more information or advice?

Call our advisers to find out more about Modern Apprenticeships. 

0800 783 6000