The London Institute of Banking & Finance this week welcomed a host of delegates to share their insight into apprenticeship standards for the banking and finance industries.
From 2017, the Government will require employers with a pay bill of £3 million or more to contribute to the Apprenticeship Levy which invests in the development of apprenticeship schemes and the training of apprentices. It will apply to almost every sector of British industry, including the banking and finance industries.
The seminar provided representatives from banking and finance companies, and other stakeholders the opportunity to set the rapidly changing Apprenticeship reform agenda in context hear about the benefits of apprenticeships and how companies can better understand the Government’s Apprenticeship Levy and develop effective strategies to bring advantages to their businesses in recruitment and training.
Beginning with a presentation by the Skills Funding Agency
, which provided an update on the latest reforms and policy announcements, Barclays Bank offered an overview of the understanding gained from their own apprenticeship scheme. Here they discussed the key challenges and obstacles they had overcome, the lessons they had learned and the benefits they had gained. Delegates also heard from Capita Talent Partnerships – a national apprenticeship training firm on how they are working with firms to develop effective apprenticeship pathways.
Also speaking at the event were two young apprentices from the Barclays apprenticeship programme, who talked engagingly about their own personal journeys and what employers can do to make their schemes attractive to prospective apprentices.
Commenting on the event, Alison Pask, Managing Director, Financial Capability and Community Outreach
at The London Institute of Banking & Finance said:
“As a leading provider of qualifications for the banking and finance industries, we were excited to hold such a forward-thinking forum where a range of innovative ideas were discussed.
“To hear from two young apprentices about what they had gained from their experiences was truly inspiring and we will be working closely with students and employers to ensure their obligations are met and that everyone, regardless of their background has an equality of opportunity to reach their potential.”