Robust competency frameworks enables individuals to understand the skills that they need to develop and accurately measure and demonstrate their ‘distance travelled’ towards achieving these.   Competency frameworks help learning and development professionals to construct high quality learning and development plans.  As standard setters for finance, accountancy and financial services, we have developed occupational standards for a range of roles within the sector.  These standards are updated regularly as professional qualifications are based upon these.  The standards are developed and reviewed by groups of industry practitioners who are working in relevant roles.

Each occupational standard is organised into suites, which are formed of a number of units that represents a particular function or activity of the role. Within each unit the required standards of performance, related knowledge and skills for that activity is described in the form of outcomes of effective performance and statements of required knowledge and understanding. Some units also feature a range of typical behaviours underpinning effective performance.

We have developed occupational standards for:

• Accountancy and finance
• Administration for mortgage and/or financial planning intermediaries
• Administration of local revenue and benefits
• Bank and building society accounts
• Compliance and anti-money laundering
• Countering financial crime
• Credit management
• Customer payments for financial products and services
• Debt collections
• Internal audit
• General insurance
• General Takaful
• Generic financial advice
• Financial services core competencies
• Financial services customer care
• Financial services sales process
• Investment operations
• Investment strategy and management
• Life, pensions and investments
• Paraplanning
• Pension Scheme Administration
• Pension Scheme Trusteeship
• Providing financial advice and financial planning
• Risk management for the financial sector
• Securities and derivatives

All occupational standards can be accessed here:  www.ukstandards.co.uk   For further information on our occupational standards and how to access our support to develop your competency framework, please contact Lynn Bryson.