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Becoming a Financial Services Customer Adviser can be a great career move for an someone who likes the responsibility to positively influence someone in making an important decisions. But what exactly is a financial services customer adviser and what does the apprenticeship entail? 

The overview of the role is:

”Helping customers in banks and building societies or the broader financial services sector.”

Occupational Profile:

Although banks and building societies are the intended users of this apprenticeship, it may be applicable to other financial services as well.

Many front-line positions within these organizations deal with customers on a variety of fairly simple transactions within a thorough regulatory and risk framework; these interactions can take place in-person, over the phone, online, or by an individual working in an operations center that supports other parts of the business.

Depending on the company, typical tasks could include being a branch cashier, responding to face-to-face customer inquiries in branches, assisting customers in using new digital services, responding to inquiries via phone, email, or mail, managing customer accounts, addressing complaints and issues that are generally simple to resolve, reaching out to customers in advance, and spotting sales opportunities.

What is required
Industry and company understanding
Understands the role banking plays in Financial Services, the business they work in, the company ‘Values’, professional standards and where their role fits in the business.
Regulatory, Legal and Compliance
Broad understanding of the Financial Services legal and regulatory framework, together with how this applies to their role. Understands specific compliance and risk requirements that apply to their role e.g. Data Protection, Training & Competence, Fraud Prevention, Conduct Risk, Complaints, Information vs Advice.
Products and Services
Overview of the products and services offered to customers by their company, together with a broad understanding of the products and services that they support in their role.
Systems and Processes
Understands the systems, tools and processes used in the role, together with the standards to be met, including IT tools and digital banking solutions provided to customers. Understands how these interact with the wider organisation where applicable.
Frequently asked questions:

The length of this apprenticeship is expected to be 12 – 18 months

There are no required qualifications for this apprenticeship.

The Assessment Plan contains suggested qualifications/units that employers can use to ensure robust technical knowledge.

This standard puts the apprentice on the pathway towards professional membership of the Chartered Banker Institute, the London Institute of Banking & Finance, or the Chartered Insurance Institute, depending on which qualifications are taken. A further qualification may be required to be able to apply for membership.

It forms the foundation of a career within the sector, giving the base for further development through a career path within the organisation which may include a Level 3 or other apprenticeship.

This is a Level 2 apprenticeship.

After 3 years or when significant change is required.

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