THE Finance & Leasing Association (FLA) has launched a Motor Finance Specialist apprenticeship to provide specialists for the market.
The FLA’s website contains contact details for three well-established training providers who have already signed up to help employers develop tailor-made courses, along with advice on how to hire apprentices.
The FLA says the launch of the apprenticeship follows 18 months of discussions between FLA members, brokers, dealerships and professional bodies.
The plan has been to devise a training programme that matches the specific skills and knowledge required in a market where 88% of private new car purchases are made using motor finance.
The one-to-two-year, Level 3 apprenticeship uses a core curriculum which then branches into options to suit either finance specialists, working for a lender, or retail specialists, who liaise directly with car buyers in the dealerships. The independent assessment process examines a number of areas, including knowledge of the finance products, regulatory compliance and customer service.
Adrian Dally, Head of Motor Finance at the FLA, said:
“The Apprenticeship Standard will help to attract new talent who want to build their careers in motor finance. This kind of commitment to the industry is good for competition, customer service and the responsible provision of credit that is central to this market.”