FIRST Dissemination

Key tasks ⇒ To identify key EQF levels for qualifications in FSS ⇒ To select 3 work processes to be analysed to capture the relevant language to present underlying qualifications ⇒ To select existing qualifications best fitted for each of the key EQF level, and finally ⇒ To develop new EQF levels descriptors which would mirror the language and work environment of today’s FSS – the Translators ⇒ To disseminate and valorise results

Context of the project  Map of stakeholders  Benefits for shareholders  SWOT analysis

Map of stakeholders FSS Market Banks Financial Institutions EmployeesRegulators Training Providers Trade Unions Professional Bodies HEI Students Banking Associations EBF EU Commision etc. Customers Consumer associations

Benefits to groups of stakeholders: Banks/financial institutions  Transparency of qualification - increased confidence, quality;  Portability of qualification – flexibility of employment, easy transfer between jobs;  Mobility: also within international organisation;  Better qualified staff/more professional;  Increased efficiency of the professional development;  Easier integration within FSS;  Facilitated mergers and acquisitions;  Easier recruitment process/evaluation;  Well prepared staff = good will (HR potential as important part of the value of the company: becoming a criterion in the new approach to ratings); and  Recognition of formal and non-formal education.

Benefits to employees  Easier professional career – mobility;  Self-management of career development;  Diversity - limits discrimination;  Self-confidence vis-a-vis clients ;  Life-long learning assurance;  Stronger position in a migration process; and  Employability.

Benefits to training providers  More opportunities;  Improved quality;  International cooperation;  Credibility;  More transparent offer to clients;  Modular training offer - flexibility of use - effectiveness to the clients;  More demands through lifelong learning; and  New forms of assessment.

Benefits for regulators:  Transparency and quality staff enhances financial stability and trust, hence protect consumers;  European standards – harmonisation: easier and more efficient control of the market; and  Improvement of the operation of the market.

Benefits to customers /consumer protection associations:  Improved quality of service through more effective training;  Trust to better staff and organisations;  Easier control of required standards of consumer protection;  Help in regulation development;  Informed decision on the use of services;  Higher expectations;  More effective; and  Quality of life.

Benefits to professional bodies:  Positive image of the development of the sector, limits the consequences of bad practices;  Confirm the investment in staff – quality of service;  Competitiveness of the sector, to be at the forefront of changes;  Show the focus on training in FSS as compared to other sectors;  Up-to-date and informed; and  Better quality control of banking institutes.

SWOT analysis: Strengths  Benefits to be created to stakeholders  Strong team/partnership  EU recommendation: time is clicking, it is happening (2010/2012)  Building upon results of previous projects  Visibility of EBTN vis – a - vis the EU

SWOT analysis: Weaknesses  Lack of wide knowledge about EQF  Vagueness of descriptors (also an opportunity)  Doubts in appetite for implementation  Employers apathy to EU (also a threat)  Cost of transformation into EQF world

SWOT analysis:Opportunities  Provides for flexible interpretation of descriptors: can accommodate a variety of contexts  New network can be built  Stronger position of EBTN in EU  Consultation process based on partnership (also a threat)  Visibility of FSS

SWOT analysis: Threats  Big scale implementation critical for success and challenging  Effective communication difficult  Market can become too regulated

Key EQF levels of qualifications in FSS  First recommendation: EQF levels 3-6  Verification upon collection of examples of existing qualifications  Opinions and Recommendations by Relay Partners welcomed

3 business processes for analysis:  Criteria for selection Scale (a number of employees involved, which encourages certification) Importance for strategy implementation (most profit generation) Need for qualifications (processes which benefit from qualifications)  Processes chosen: SME banking, savings and investment, compliance

3 business processes for analysis:  Processes chosen: SME banking Savings and investment Compliance