The government has granted the Finance & Leasing Association (FLA) approval to develop an apprenticeship standard in motor finance, as part of its plan to create 3m apprenticeships by 2020.
Once the standard has been completed, the FLA will develop apprenticeship schemes with a group of employers known as a ‘Trailblazer group’.
The FLA stated that it plans to work with members, brokers, and dealers to develop a standard that “will benefit apprentices, employers, and motor finance customers.”
The group aims for it to address skills and knowledge needed in the sector, in a bid to “attract and retain the next generation of talent.”
Adrian Dally, Head of Motor Finance at the FLA, said:
“The motor finance industry provides rewarding careers, and many of its jobs, including the customer-facing roles in dealerships, are demanding in terms of the required levels of regulatory knowledge and customer service. The apprenticeship standard will build on the industry’s existing training programmes while helping to attract and retain the next generation of talent.
“We’re working with industry experts who will help us create a standard that will benefit apprentices, employers, and motor finance customers.”
Robert Halfon, Minister of State for Apprenticeships and Skills, said:
“Apprenticeships offer young people a ladder of opportunity to gain the vital skills they and businesses need to succeed. By putting more control in the hands of employers, we are ensuring apprenticeships are high quality and address skills shortages facing industry.
“Congratulations to the Motor Finance Trailblazers for being approved to develop their apprenticeship standard, and for playing an active role in developing the workforce of the future.”