Qualifications enables the finance, accountancy and financial services workforce to gain recognition for the skills and knowledge that they have developed in their work.  We help to ensure that the qualifications developed are relevant and will be beneficial to the sector and its workforce. By working with awarding organisations across the UK and Ofqual, the qualifications regulator, we support the development of competence based qualifications. 

We work with the Skills Funding Agency (SFA) to make sure that the qualifications which meet the needs of the sector are prioritised for public funding. For more information about funded qualifications please access the SFA's Learning Aims Database.

What are QCF, CQFW and SCQF?
The Qualifications and Credit Framework (QCF) is the framework for all vocational qualifications in England, Wales and Northern Ireland and the Scottish Credit and Qualifications Framework (SCQF) is the equivalent in Scotland.  The QCF is a pillar within the Credit & Qualifications Framework for Wales (CQFW). Qualifications which are put onto the QCF must be assessed and offered by an Ofqual regulated and accredited awarding organisation. QCF qualifications are organised into bite sized chunks known as units. Each unit is allocated a credit which represents how long the unit will take to achieve. The units and qualifications are also assigned a level which represents how difficult they are. Find out more about the QCF.

Employers in Scotland can have their training aligned to the Scottish Credit and Qualification Framework (SCQF). Find out more about SCQF.

Support in Developing Qualifications
We can support awarding organisations, or those hoping to become an awarding organisation, to develop units for the Qualifications and QCF, the CQFW or the SCQF.  We have the necessary in-house expertise and experience in qualifications development to enable us to provide advice and guidance on the qualifications landscape. We approve competence qualifications (SVQs and CBQs) in Scotland on behalf of the finance, accounting and financial services sector.

Appropriate Qualifications List
Within financial services, there are a number of qualifications that are required by the FSA for certain regulated activities. These qualifications are known as Appropriate Qualifications.  For details of Appropriate Qualifications, please visit the FSA’s website or call their contact centre on 0845 606 9966 as they are responsible for all queries related to regulated functions and Appropriate Qualifications.

Occupational Qualifications
These are qualifications which demonstrate competence in the workplace. They can be taken while working and they can demonstrate an individual's true aptitude. The qualifications cover all the main aspects of an occupation including current best practice, the ability to adapt to future requirements and the knowledge and understanding that underpin competent performance.

Occupational qualifications can be taken as part of an apprenticeship programme, by full-time employees or by school and college students. There is no written test or examination. Candidates are assessed by a qualified assessor who observes them in undertaking their role and assesses a portfolio of work to evidence their learning.

The FSP has developed occupational qualifications in:

• Accounting, Bookkeeping and Payroll 
• Credit Management 
• Providing Financial Services 
• Providing Financial Advice and Mortgage Advice

For more information on qualifications contact Lynn Bryson.