The Level 1 Award in Introduction to Financial Services is designed to provide learners with a foundational understanding of the financial services industry. This course aims to familiarize participants with the key concepts, products, and roles within the sector. It is suitable for individuals who are new to the financial services industry or those who wish to gain a basic understanding of how financial services work.

TBC

By the end of this course, participants should be able to:

1. Understand the role and importance of the financial services industry in the economy.
2. Recognize the key types of financial institutions and their functions.
3. Identify different types of financial products and services.
4. Explain the concept of risk and its significance in financial services.
5. Understand the importance of ethics and regulations in the financial services industry.
6. Explore career opportunities within the financial services sector.

Module 1: Introduction to Financial Services

• Importance of the financial services industry in the economy.
• Overview of the key players in the industry.
• Differentiating between banking, insurance, investment, and other financial services.

Module 2: Financial Institutions

• Commercial banks and their functions.
• Investment banks and their role in capital markets.
• Insurance companies and their services.
• Credit unions and cooperative societies.
• Overview of other financial institutions, such as asset management firms and brokerage firms.

Module 3: Financial Products and Services

• Deposit accounts: savings accounts, current accounts, and certificates of deposit.
• Loans and credit products: personal loans, mortgages, and credit cards.
• Investment products: stocks, bonds, mutual funds, and exchange-traded funds (ETFs).
• Insurance products: life insurance, health insurance, and property insurance.
• Other financial services: payment systems, remittances, and financial planning.

Module 4: Risk in Financial Services

• Understanding the concept of risk in financial transactions.
• Types of risk: credit risk, market risk, liquidity risk, and operational risk.
• Risk management techniques and strategies.
• Role of regulatory bodies in managing risk in the financial services industry.

Module 5: Ethics and Regulations in Financial Services

• Importance of ethical conduct in the financial services industry.
• Regulatory bodies and their role in ensuring consumer protection and market integrity.
• Compliance requirements and best practices.
• Anti-money laundering (AML) and Know Your Customer (KYC) regulations.

Module 6: Careers in Financial Services

• Overview of different career paths within the financial services sector.
• Key skills and qualifications required for various roles.
• Opportunities for professional development and advancement.
• Industry trends and future prospects.

Assessment Methods: To successfully complete the Level 1 Award in Introduction to Financial Services, participants will be assessed through a combination of the following methods:

1. Multiple-choice quizzes: Assessing theoretical knowledge and understanding of financial services concepts.
2. Case studies or scenarios: Applying financial services principles to practical situations.
3. Written assignments: Exploring and analyzing real-world examples of financial products and services.
4. Group discussions or presentations: Discussing and presenting on industry trends and career opportunities.

Note: This course outline is a general guide and can be customized to suit specific training requirements or time constraints.