Application to recognise and register an SGB for Financial Services: Insurance & Investment, following the expiry of the Financial Services SGB registered by NSB03 on 8 February 2000.

PROPOSED BRIEF OF THE INSURANCE AND INVESTMENT SGB

  1. Identify transformation, development and equity issues relevant to the Sub-field Financial Services in NQF organising field 03 develop mechanisms to include these issues within standards and qualifications as envisaged in 2 below [regulation 24(1) (e)]
  1. Generate appropriate unit standards and combine them into the following qualifications in accordance with Authority requirements.
  1. National Certificates in Financial Services (in the areas of Long Term Insurance: Risk Assessment NQF Level 5, Healthcare Benefits Administration NQF Level 5 and Risk Finance / Enterprise Wide Risk Management at NQF Level 5.
  1. National Diplomas in Financial Services (in the area of Long Term: Risk Assessment NQF level 5, Healthcare Benefits Administration: Product Management NQF Level 5 and Risk Finance / Enterprise Wide Risk Management NQF Level5, with qualifications exit points at NQF level 5.
  1. A National Certificate qualification at level 4 for people who sell insurance for goods bought on instalment sales contracts or agreements.

d. Review and generate any additional unit standards required, for already registered qualifications, as review dates become due:

  • National Certificate in Insurance: Level 3. Review date October 2004.
  • National Certificate in Healthcare Benefits Administration: Level 4: Claims Assessing. Review date December 2004.
  • National Certificate in Collective Investments: Level 4. Review date December 2004.
  • National Certificate in Long Term Insurance: Level 4. Review date December 2004. Including additional unit standards for Trustees of Pension Funds.
  • National Certificate in Long Term Insurance: Level 4: Risk Assessment. Review date December 2004.
  • National Certificate in Short Term Insurance: Level 4. Review date June 2005.
  • National certificate in Risk Management: Level 4. Review date October 2006. Including additional unit standards for specialised insurance.
  • National Certificate in Wealth Management: Level 5. Review date August 2006.
  • National Certificate in Wealth Management: Level 4. Review date February 2007
  • National Certificate in Financial Services Management: Level 3. Review date February 2007.
  • National Certificate in Financial Services Management: Level 4. Review date February 2007.

e. Working with HE Institutions, if required, on unit standards for a Learning Programme leading to a unit standard based BCom: Financial Planning and other Insurance and Investment related qualifications.

  1. Develop Learning pathways for qualifications and unit standards for Insurance & Investments in the sub-field Financial Services in NQF Organising field 03, from levels 2 to 6 [Regulation 24 (1) (e)].
  2. Recommend the standards and qualifications generated in 2 above to National Standards Body 03 [Regulation 24 (1)(c)]
  3. Recommend criteria for the registration of assessors and moderators or moderating bodies [Regulation 24 (1)(d)]
  4. Accept and perform other related functions as requested by NSB 03 [Regulation 24 (1)(e)]