Free scholarships for course
The Financial Services Federation (FSF) is sponsoring 10 free scholarships for financial mentors who wish to bolster their professional toolkit with a new qualification.
The organisation says a “gold standard” is being set for lenders with the launch of an NZQA-approved level-five course in consumer credit.
The micro-credential course is designed to elevate the skillset of anyone working in the highly regulated sector, including bank and non-bank lenders, brokers, fintech companies, professional service providers and financial mentors.
It aims to equip them with knowledge to navigate the consumer credit landscape and contribute to positive outcomes for lenders.
The development of the qualification has been led by the FSF in partnership with education solutions provider Strategi.
The course covers the Credit Contracts and Consumer Finance Act (CCCFA), the legislative framework more widely – such as anti-money laundering and privacy – stakeholders in consumer credit, responsible lending, disclosure requirements, identifying repayment difficulties, credit-related insurance and credit reporting.
It does not just address legal aspects, but also tackles the importance of treating borrowers fairly and ethically with particular emphasis on people in vulnerable circumstances.
“This qualification is a significant milestone for the federation and our members have been the driving force behind it,” says Lyn McMorran, pictured, executive director of the FSF.
“Our members pledge to maintain elevated standards when they join the FSF, but this is a further opportunity to formalise their commitment to responsible lending.
“There’s nothing like this out there for lenders at this level. You could do a business degree and won’t even hear ‘CCCFA’. You learn in-house, on the job and, like in any industry, habits get passed on. This qualification sets a standard.
“It’s important we retain and attract good people in the non-bank lending sector, and hope this qualification helps to elevate consumer credit as a fulfilling profession. It is particularly important for FSF’s non-bank lending members as they serve more than 1.7 million New Zealanders.”
FinCap is taking expressions of interest from financial mentors for scholarships. Email kiaora@fincap.org.nz.
The online, part-time course lasts 16 weeks. For staff of FSF member companies, it costs $750 plus GST. The fee for non-members is $1,200. It attracts 17 NZQA credits and 40 hours of continuous professional development.
The qualification is available for enrolment now online http://strategi.ac.nz/. Click here to download the course brochure.
