Fasset received a request from JSE Securities Exchange (JSE) and the South African Institute for Financial Markets in 2008 to finance the development of a Financial Markets Learnership.
The Seta commissioned research to investigate the need for such a learnership. The research, which was completed in 2009, concluded that there is a need for a qualification as an entry route into the financial markets as there is a shortage of skilled and appropriately qualified people to take up positions in the South African financial markets. Furthermore, individuals, within the sector currently do not have a career in financial markets, but rather a job. Access to formal qualification, would change this.
Fasset had to apply to South African Qualifications Authority (SAQA) to have the ‘financial markets professional’ registered as an occupational qualification. Fasset, EE Research Focus, SA Institute of Stockbrokers, JSE and various employers, were involved in scoping the qualification.
SAQA has since registered the qualification and the registration of the learnership is still to be completed.
The University of Johannesburg has been involved in developing a financial markets qualification and will be offering the Advanced Diploma in Financial Markets, which provides the theoretical component of the learnership. Other universities may collaborate at a later stage. The University of Johannesburg will hopefully offer the programme in 2015.
The Financial Markets Learnership has been registered at NQF Level 7. In order to enter the learnership, candidates must have a NQF Level 6 qualification in finance or a related field of study or three years work experience in financial markets.
The Financial Markets Learnership and the Advanced Diploma in Financial Markets qualification offered by the University of Johannesburg will enable individuals to build careers within the financial market industry. Since there is no single direct path to enter into the financial industry, it is anticipated that the qualification will assist in providing direction into the industry.
Markets are becoming more regulated. It is essential that the industry has suitably qualified candidates. The Financial Markets qualification is expected to enhance the flow of young financial markets practitioners into the local labour market by providing the first professional body requested, and approved, tertiary education route.
More information is available at http://allqs.saqa.org.za/showQualification.php?id=93603
