FIA Advisory Committee Charmaine Koch 15 November 2011

Agenda Types of Qualifications Qualifications vs Designations Focus on Professional Content Continuous Professional Development and Career Development Way forward with FIA/IISA

Types of Qualifications Quality Council for Trade and Occupations (QCTO) Department of Education Occupational Training driven by SETA’s Currently INSETA has 193 Accredited Training Providers Training is predominantly NQF Levels Qualifications are Unit Standard Based UMALUSI Adult Based Education and Training (ABET) Currently Business Colleges Training is predominantly ABET Levels & NQF Levels 1 – 5 Qualifications are predominantly Unit Standard Based Council for Higher Education (CHE) Degreed Qualifications Currently Universities and Technikons Training is predominantly NQF Levels Qualifications are Whole qualifications IISA Training driven by Professions Training is offered by various Universities or Professionally aligned Providers Training is predominantly NQF Levels Qualifications are Whole qualifications Professional Bodies Credits can be accumulated Credits can be accumulated Credit ratings are only achieved once the qualification is complete

Types of Qualifications ACII ACII qualification (pre 1992) approval for Specific rating is on the agenda for the October 2011 FSB meeting QCTO – Quality Council for Trades and Occupations Insurance Underwriter qualification is drafted, now to be piloted Risk Manager qualification has been completed in which IISA and INSETA participated in the development phase of the curriculum Insurance Advisor qualification has been started for curriculum development Advisory meeting to ensure that these qualifications include FAIS requirements in the curriculum

Qualifications vs Designations Professional Body Requirements Professional Designations vs Qualifications Qualification Fellow – FIISAFCII (1964 – 1992) Advanced Diploma in Insurance Management (1992 – 2006) Advanced Programme in Risk Management (2007 – current) Associate – AIISAACII (1964 – 1992) Diploma in Insurance (1992 – 2006) IISA Programme in Advanced Insurance Practice (2006 – current) LicentiateHigher Certificate in Insurance (1992 – 2006) IISA Programme in Insurance (2006 – current) Higher Certificate in Short Term Insurance (2011 – current)

SAQA Professional Body Requirements Constitution Financials Code of Conduct CPD Programme to be launched 2012 Disciplinary Committee and Appeals Data Management System

Focus on Professional Content Continuous Professional Development FSB Requirement for Fit and Proper Can be another qualification Career Development Suggested that people can focus on Professional Progression as this can then also be used for CPD purposes with the FAIS requirements

The Way forward with FIA/IISA Step One Current Qualification Mapping for FAIS purposes: Motivation for current INSETA qualifications for Generic status for other product categories – Feb 2012 Request further information from FSB on certain qualifications with no SAQA ID Number – Immediately List qualifications and providers to approach on changing rating to Specific – Jan 2012 Advisory Service to Industry re part qualifications: Communication to be sent to industry Enlist providers to offer balance of qualification – Jan 2012

The Way forward with FIA/IISA Step Two FAIS Historical Qualification Assistance: Analyse historical qualifications and identify gaps between curriculum and qualifying criteria Formulate and make a proposal to the FSB on how the gaps can be completed – Approval Oct 2012 Enlist providers to offer programme one FSB have approved the proposal – Roll out Jan 2013

Q & A