Alumni Services

Jeremy Williams

Financial Capability Relationship ManagerM

The ifs School of Finance

A Leading Provider of Financial Education since 1879

• 1879 – The Institute of Bankers is founded

• 1987 – The organisation gains a Royal Charter

• 1997 – Became the Institute of Financial Services

• 2006 – The organisation changes name to ifs School of Finance

• 2010 - Acquisition of Taught Degree-Awarding Powers

ifs in numbers• Over 130,000 students have studied an ifs financial

capability qualification since 2006. • 26,309 students were registered to study an ifs

qualification in 2011/12 in England and Wales.• 446 centres registered students with ifs in England and

Wales in 2011/12.• Over 90 centres and1200 students were registered with

SQA in 2011/12.• 1,118 students gained SQA certification at Level 4 from

112 centres in 2010/11.

Why Qualifications?

The qualifications route• “Students valued accredited courses, such as those

provided by the ifs School of Finance.…. which had the benefit of leading to nationally recognised qualifications. They were well supported by course materials and included continuous assessment of progress. The ifs School of Finance courses provided a coherent and progressive curriculum

(Ofsted – Developing financially capable young people. March 2008, Ref: 070029)

Why Qualifications?

Becoming Financially Capable (The University of Manchester Report 2008) • “This impact resulted in an increase in knowledge and

awareness, an improvement in financial behaviour…. Helping them move towards greater independence”

• “Our research shows that personal financial management increased during the period of study …”

• Young people need to and want to be better financial consumers to enable them to make the important financial decisions they will have to take in their financial futures

‘When you go into a bank now and look at their products, you know what they are talking about and you know what APR means properly – all the terms and conditions.

Salima

The student’s view

The ifs Approach

• Comprehensive financial capability package to deliver an essential life skill

• Students and tutors have web access and extensive student/teacher materials

• Assessment on demand with speedy results• Dedicated telephone support and

teacher/tutor training • An opportunity to demonstrate student’s

mathematical skills

Partnership with SQA

The Personal Finance Award at SCQF

Level 4 is jointly awarded by the SQA and

the ifs School of Finance. It contributes to

delivery of the four Curriculum for Excellence

capacities.

It equips candidates with the skills to

understand and manage money throughout

their lives.

Personal Finance AwardThe Personal Finance Award code is GA1Y 44

The Units are:

The Principles of Money - SCQF Level 4  (Unit code FC64 04)

Money Management - SCQF Level 4  (Unit code FC63 04)

Includes:• Access to end of Unit assessments on SQA SOLAR.• Access to learning and teaching materials via SQA’s secure

website.• Advice about delivering the course – this can be provided by

SQA or by contacting the ifs School of Finance directly.

Financial Capability Progression Routes

• Level 5: Adult Programme• BSc (Hons) in Banking Practice and

Management• Level 7: Diploma in Financial Studies• Level 6: Certificate in Financial Studies• Level 5: Certificate in Personal Finance• Level 4: Personal Finance Award

19

14

Topics 1 to 5

Topics 1 to 4

Unit 1The Principles of

Money (POM)

Unit 2Money Management

(MOM)

Level 4 Award Level 5 Certificate

Topics 1 to 8

Topics 1 to 8

Unit 1Personal Financial Encounters (PFE)

Unit 2Money Management

Solutions (MMS)

Topics 1 to 4

Unit 3Personal Financial

Management (PFMA)

The above are assessed through the SQA SOLAR

system

o 3 unitso 125 guided learning hours (140 Learning hours)o Registration is £36 per studento Resit fee £12 (max 2 resits per exam)o On-demand objective tests for all unitso Grade A* to C

CPF5

Scottish Equivalents

• How do I access the website?• How is it structured?• What materials do I get?• How do teachers deliver the courses?• How do I get further information?

https://my.ifslearning.ac.uk

My ifs learning website

The centre is given a login name and password to access the learning materials.

Structure of topic sheets

Tutorial with Qs and As

Review questions

Case studies

Suggested learning activities

Key points

Student Investor Challenge

• Online investment game for students aged 14-19

• Teams are given a fantasy £100,000 to invest in the stock market

• Top prize is an educational trip to New York, £200 for each team member and £2,000 for their school

• www.studentinvestor.org

• Specialist Financial Education Provider• Key Life Skill in Modern Society• Working in Partnerships across UK• Accredited Qualifications and Routes• Excellent Resources and Customer

Service.

www.financialcapability.co.uk

Summary