FAIS fit and proper e-learning now available

The challenges facing the financial services sector and related insurance business unit is ensuring they have suitably qualified FAIS Fit& Proper employees with qualifications aligned to the specific Categories of Insurance and sub categories of insurance in terms of the employees registration at the FSB.

Many employees do not know which Category of Insurance they are registered for and the requirements of the sub category is in terms of DOFA, qualification, RE and CPD.

Standardized classroom facilitated training requires that the employees are out of the work environment for 2 to 20 days per calendar year and the impact of this on time, investment and productivity has become challenge for small, medium and large enterprises.

In the past a solution to classroom facilitated training has been distance paper based learning but this also poses many challenges in terms student support, submission of paper based assessments been mislaid, the student cannot be tracked in terms of input and output, backup of copies of submitted documents not kept, ‘lost in the post’, ‘my dog ate it’ assessments, the list in ongoing.

2012 saw the change to these challenges with the need for an E-learning method.

This method of learning offers flexibility for students who have other commitments and removes the need to commute to a classroom and take time off work or to the training provider’s office to deliver a portfolio of evidence.

The E-learning system is more cost effective than classroom or paper based learning. This method of learning is suitable for home study and corporate employees. The E-learning allows the corporate employees to create study groups during lunch breaks or after working hours.

During the period 2012-2016 the requirement to have a paperless e-learning platform/system became prevalent in business with identification of the below benefits of engaging with online e-learning platform.

1. Minimize work day productivity loss – reduce employee stress during working hours.
2. Inseta and Fasset Seta approval to run e-learning learnerships and skills programmes.
3. Pay as you enrol – do not dictate the number of unit standards to be enrolled per registration.
4. Can enrol at any point during the year.
5. Tutorial support during working days/hours, live-chat, email, telephone.
6. Multi-device access.
7. There are no bandwidth requirements but it is advisable for the learner to have a steady data connection in order to complete the assessments.

It must be cautioned that E-learning is a self-directed method of learning, the student will be accountable for their own time management, motivation and written communication.

The role of a SETA or HET accredited training provider with good knowledge of FAIS Fit & Proper requirements and other legislation that governs the financial services industry requirements is essential to assist in guiding businesses and students on appropriate study methodologies to meet this industries requirements.

We also offer Blended e-learning qualifications: Level 4 Business Administration, Contact Centre, Project Management and Marketing.

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