In Summary
The IFS Apprenticeship programme is designed for candidates who are eager to launch their career within the financial services industry.
This programme seeks to provide the appropriate education and training to allow successful graduates be registered with SOLAS as an IFS Associate Professional. What this means is that through a combination of off-the-job and on-the-job learning, apprentices will develop skills that are key to working in International Financial Services. These skills include areas of regulation and compliance, products and services, client communications and relationships, systems and processes, etc., within the context of International Financial Services.
It is a programme of structured education and training which formally combines and alternates learning in the workplace with learning in an education or training centre. It is a dual system, a blended combination of on-the-job employer-based training and off-the-job training.
The IFS Associate level apprentice will study for a Level 6 Higher Certificate in International Financial services whilst earning a salary of €23K and undertake a two year apprenticeship contract in an IFS organisation in a relevant role.
Video: International Financial Services Apprenticeships at NCI
Click the photo above to access the IFS Associate Apprenticeship brochure.If required Full eligibility criteria for this apprenticeship are available in the International Financial Services Apprenticeships brochure.
To view full details of this occupation, view information from our Careers database for the following occupation: International Financial Services Associate
Entry Requirements
Before applying to this apprenticeship, please check that you meet all entry requirements.
The IFS Associate Professional apprenticeship is open to school leavers who have attained their Leaving Certificate results / VEC or PLC students (entry level role).
Minimum Academic Requirements
- Grade H6/O6 in five Leaving Certificate subjects (Grade D3 or above in Higher or Ordinary under the old marking system)
- A minimum of grade H6/O6 must be obtained in English (Grade D3 or above in Higher or Ordinary under the old marking system)
- A minimum of grade H6/O6 or F3 must be obtained in Mathematics (Grade D3 or above in Higher or Ordinary, or grade B2 in Foundation level under the old marking system
- Holders of QQI Level 5 or HETAC Level 6 Special Awards can apply for entry onto the programme. Entry will be assessed on the basis of result transcripts and a full programme outline.
- Non-Standard applications will be also considered on an individual basis.
Training
The IFS Associate Professional apprenticeship is two-years in duration. Entrants get a two-year fixed term contract in an IFS organisation in a relevant role. The apprentices spend 80% of their time working in IFS companies and the remainder gaining specific IFS qualifications.
This programme is structured over two academic calendar years. Off-the-job modules run over two 14 week semesters per academic year, while on-the-job modules are structured to run over the length each academic year.
Assessment of off-the-job modules comprises a combination of continuous assessment and exams. On-the-job assessment is via an ongoing electronic portfolio of work-based evidence that is submitted in year 1 and in year 2.
Year 1
Semester 1
- Financial Institutions & Markets;
- Customer Service.
Semester 2
- Management & Behaviour in Organisations;
- ICT for International Financial Services.
On-the Job
- Continuing Professional Development 1;
- Regulation & Compliance;
- Product & Service Proficiency;
- Client Communication & Relationships.
Year 2
Semester 1
- Financial Accounting & Reporting;
- Introduction to Statistics for Finance.
Semester 2
- Fund Administration;
- Economics for Financial Practitioners.
On-the-Job
- Continuing Professional Development 2;
- Systems & Processes in International Financial Services;
- Apprentice Reflection;
- Work Based Project.
Apprentices graduate with a Higher Certificate in International Financial Services at Level 6 on the National Framework of Qualifications (NFQ).
Training is run by the following college:
Skills & Qualities
The IFS Associate Professional apprenticeship is open to school leavers and further education students. A positive service disposition is required for this role.
- Honesty and Integrity: Truthful, sincere in their actions and doing the right thing
- Adaptability: Willingness to accept changing priorities and work patterns when new jobs need to be done, or requirements change Enthusiasm: Shows drive and energy in their work, when things are going well and when challenges arise
- Dependability: Meets personal commitments and expectations, e.g. completing work in a timely fashion, timekeeping & attendance
- Personal commitment: Proactive in their own development; commitment to the job and the industry.
Work Activities
Tasks and Responsibilities
- Understand and address client enquiries in a timely fashion
- Handle telephone enquiries in a professional and courteous manner
- Respond to the needs of Relationship Managers and Customer Service Officers in serving clients
- Thoroughly document queries, investigations and actions
- Escalate issues to administrators and managers as appropriate
- Liaise with other areas of Operation within the company
- Responsible for all aspects of operations and controls to include: Processing subscriptions, redemptions; Performing anti-money laundering checks
- Investigate and reconcile all incoming payments received from paying agents and Tax Authorities within agreed timelines
- Providing general office administrative support including filing/scanning/photocopying, post/franking, processing payments, answering the telephone, note/message taking
- Maintain customer/policy records through the client management system and associated IT solutions
- Support the team in delivering a full client service proposition in a professional, timely and efficient manner including new business, mid-term adjustments and renewals. Transact with internal and external stakeholders accordingly.
- Communicate all information necessary to ensure clients are fully aware that their needs have been met and contract certainty achieved
- Ensuring that all compliance procedures are adhered to on a day-to-day basis
- Ensure client files are complete in accordance with procedures.
On successful completion, the International Financial Services Associate will have:
Knowledge
- International financial services market - Core knowledge includes: Broad understanding of the structure of the International Financial Services market, including product providers, client outcomes, support services and platforms
- Regulatory & compliance - Core knowledge includes: Understands the Financial Services regulatory framework, the ethics and key principles of the client transaction process
- Products - Core knowledge includes: Understands the purpose & technical content of the financial services products & services provided
- Systems & processes - Core knowledge includes: Understands all systems & processes required to deliver the role outcomes & has awareness of how these fit within the wider company and global industry
Skills
- Numeracy, analytical and awareness of impact: Attention to detail and the ability to understand the impact of the role on the global picture
- Quality service delivery: Consistently develops and delivers excellent service to clients, colleagues and advisers, supporting the products/services provided
- Customer communication & relationships: Develops effective relationships with clients & key contacts, handling & resolving issues through effective verbal/written/IT skills
- Teamwork and collaboration: Understands role within team and impact on others. Consistently endeavours to support colleagues and collaborate to achieve results
- Planning & prioritising: Successfully analyses and plans in order to deliver good outcomes for the business
- Using systems & processes: Consistently adheres to systems & processes using proficient IT skills, including risk, regulatory and governance requirements.
Career Progression
Progression is available to qualification at Level 7 and Level 8.
An apprenticeship will help boost your CV and create a new and exciting career path.
Depending on your skills, knowledge and experience some of the opportunities below might be appropriate to help develop your Career pathway:
Getting an Apprenticeship
To become an apprentice in Ireland you must be hired by an employer. Apprenticeship employers are formally approved by SOLAS in advance of employing apprentices. Apprentices get a formal contract of employment as part of their apprenticeship.
To find an apprenticeship, you can search apprenticeship vacancies and a list of currently approved apprentice employers on the Apprenticeship Jobs & Employers Portal. You can search for vacancies by location, and employers in each apprenticeship.
Use this link to explore a list of Approved Employers by Region and by Apprenticeship type.
This apprenticeship is managed by Financial Services Ireland. If you are interested in an international financial services associate apprenticeship you should make contact with Financial Services Ireland via the contact details below.
Full eligibility criteria for this apprenticeship are available in the International Financial Services Apprenticeships brochure.
Further information is also available from the industry lead for this apprenticeship:
Jonathan Brittain
National College Ireland, Dublin 1
Tel: 1800 221 721
Web: ifsapprenticeships.ie
You can express your interest in the International Financial Services Associate Apprenticeship on the IFS Apprenticeships website.
Finding an employer and securing your apprenticeship
Finding an employer or registering your interest with an official Coordinating Provider is one of the first things you need to do to start an apprenticeship.
Opportunities for this apprenticeship may be available from the following organisations:
Opportunities for this apprenticeship may be available from the following organisations:
Online Jobsites
Here are some direct links to employment websites that frequently list apprenticeship vacancies.
Note: These websites may include vacancies that are not QQI accredited Apprenticeships.
Below are the results for an Apprentice from indeed.ie.
Pay & Fees
IFS apprentices are paid in excess of the national minimum wage and receive training and education valued in excess of €10k. Salaries range from €23k to €32k depending on the level of IFS Apprenticeship undertaken.
Successful candidates will pay an annual registration fee to the academic provider.
Apprentices complete their off-the-job training in a higher education institution, for which they are required to pay a student contribution.
The amount payable is a proportion of the annual student contribution for students attending a full-time course in higher education. The student contribution is paid directly to the higher education institution over the two years.
IFS Associate
| Year 1 | €600 |
| Year 2 | €600 |
| Total Fee | €1,200 |
Information Correct as of May 2021
