National Skills Academy

The government's Skills White Paper, published in March 2005, gave a commitment to establishing employer-led National Skills Academies for all the major sectors of the economy which will:

• deliver high quality training;
• provide first class teaching in a modern learning environment;
• be centres of innovation and creativity, developing and re-shaping training programmes to meet the sectors’ needs;
• be flexible, sustaining the closest possible relationships with employers of all sizes;
• build networks with a range of other learning providers, so that new thinking, new methods and higher standards are not limited to single organisations, but work to the benefit of learners and employers across the training and skills sector.

Each focusing on a specific sector, the academies will be led and sponsored by employers, and be funded by both the private and public sector.

The Financial Services Skills Council was one of the first four Skills Council's to be given the green light by Ruth Kelly to develop a National Skills Academy for the financial services sector.

The aim of the Academy will be to provide solutions to some of the long-standing skills problems facing financial services employers – in particular, improving the employability of young people, providing entry-level training of high quality and facilities for retraining and continuing professional development.  

Making a difference

Talent is crucial to the success of every financial services business – we are a knowledge industry and knowledge is a prime asset in today’s competitive market place. It is therefore vital that the education and training system is led by the needs of the industry. This is what the National Skills Academy for Financial Services will achieve. Employers will play a major part in determining the programmes it offers, using the latest intelligence about current and future skills to shape the content, design and delivery of training and assessment. National Skills Academies will have external sponsorship but their focus will be on delivery of high quality vocational education and training to young people and adults, within a specific sector. Each will be led by employers who will shape their programmes and provide financial support. We intend that the Skills Academy will set a high standard both for our industry and for other sectors. In return for employer interest and sponsorship, Government will invest both capital and revenue funding to meet the sector’s skills needs. Employers and other partners can ensure that the finance sector leads the way.

Download the Business Plan Executive Summary

Download Information for sponsors

Read the Press Release announcing the Skills Academy.