SAQA registers the financial markets qualification

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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.

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What do you think?
Do we need a more direct path into the financial markets?

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