Table of Contents PURPOSE OF THE QUALIFICATION 3 WHY STUDY THE LIBF LEVEL 3 CERTIFICATE IN SUPERVISING IN A REGULATED ENVIRONMENT (CESRE) QUALIFICATION? 3 OBJECTIVES 3 KEY CONTENT AREAS 3 QUALIFICATION LEARNING OUTCOMES 3 KEY SKILLS DEVELOPED 4 ENTRY REQUIREMENTS 5 RECOGNITION OF PRIOR LEARNING 5 PROGRESSION AND PREPARATION FOR FURTHER STUDY 5 APPRENTICESHIPS 5 PREPARATION FOR EMPLOYMENT 5 STRUCTURE 6 TOTAL QUALIFICATION TIME (TQT) 6 LEARNING RESOURCES 6 WHAT TO DO BEFORE THE ASSESSMENT 8 ASSESSMENT 8 QUALIFICATION GRADING 8 RE-SIT ATTEMPTS 9 APPENDICES 10 APPENDIX 1 REGULATION DETAIL 10 Page 2 of 10
Purpose of the qualification Why study the LIBF Level 3 Certificate in Supervising in a Regulated Environment (CeSRE) qualification? The Certificate in Supervising in a Regulated Environment (CeSRE) is designed to develop the core skills needed by supervisors operating in this area in order to give advice on regulated sales and to maintain compliant operations. The qualification covers topics including UK financial regulation, staff competency, leadership and motivation and employment law. It demonstrates commitment to career progression by developing the skills and knowledge required to perform a variety of roles to a higher standard. Objectives To be a supervisor within the regulated environment requires knowledge of regulatory training and competence rules, understanding of management theories needed and the ability to employ these as necessary. The supervisor must also see where their role fits in within the Regulated Environment and where their input is expected. Key content areas Purpose and structure of the UK financial services industry. Financial Conduct Authority (FCA s) main aims and activities. Rules and regulations and the FCA s approach to regulating firms and individuals. The main asset classes, financial services products and areas of financial advice. The role of the supervisor within the regulated environment. The FCA s training and competence (T&C) rules. Management principles, team development and performance management within the regulated sales environment. Qualification learning outcomes On completing this qualification, you will: Unit 1 LO Detail Assess area LO1 understand the structure and regulation of the UK financial services industry, asset classes and the interaction between the types of financial services 1 2 products and clients requirements LO2 understand the main asset classes and features of financial services products, 3 Page 3 of 10
LO3 LO4 and the main financial advice areas 4 understand the process of giving financial advice, the basic legal concepts, and 5 the basic UK tax and benefits system 6 understand the impact of inflation, interest rate volatility and other socioeconomic factors relating to personal financial plans 7 8 Unit 2 LO Detail Assess area LO5 understand the role of oversight groups, the requirements of the regulator and other laws relating to the provision of advice 1 3 LO6 understand the non-tax laws, regulations and codes of conduct features of the regulator s Conduct of Business Rules and how they apply to clients 2 6 LO7 understand the regulator approach to regulation and how the rules affect the control and structures of firms 4 5 LO8 understand how anti-money laundering regulations apply 7 LO9 understand the main features of rules for dealing with complaints and how the Data Protection Act affects the provision of financial advice 8 9 Unit 3 LO Detail Assess area LO10 understand the Training & Competence (T&C) rules and the impact on 1 regulated supervisors LO11 understand management principles and theories 2 LO12 understand the role of the supervisor in developing a team 3 LO14 understand the requirements for managing performance 4 Key skills developed The qualification will encourage you to: demonstrate numeracy skills, including the ability to manipulate financial and other numerical data; use appropriate data and information from a range of sources to make financial decisions; and increase their ability to work and learn independently. Page 4 of 10
Entry requirements There are no specified entry requirements. However, you need to be satisfied of your ability to study in English at Level 3. Recognition of prior learning We recognise prior learning in different forms. Potentially this means that you may not be required to register for every unit. Details of how to apply for recognition of prior learning are available on our website. Progression and preparation for further study As a free-standing qualification, CeSRE provides a platform for continued study within the financial services sector and a wide range of other business-related disciplines. For students who wish to achieve a licence to practise and work as a mortgage adviser, the first two units of CeSRE can be extended by taking five further units to form the Certificate in Mortgage Advice and Practice (CeMAP ) (QN 50106296). The first two units of CeSRE provide credit towards other qualifications including: Certificate in Regulated Equity Release (CeRER); Certificate in Supervising in a Regulated Environment (CeSRE). Apprenticeships The first two units of CeSRE form a qualification in their own right and appear in the Financial Services Administrator and the Compliance /Risk Officer Apprenticeship Standards. The CeSRE qualification forms part of the Senior Financial Services Customer Adviser Apprenticeship. Further details can be found on the Gov website. Preparation for employment This qualification develops knowledge and understanding of regulated supervision and enhances skills that are valued within that sector and others. You will be in a position to make informed choices, whether to pursue a career within the financial services sector immediately or after further study, or whether to apply the financial skills you have developed to other careers or study options. Page 5 of 10
Structure CeSRE is made up of three mandatory units which need to be successfully completed to achieve the award: i. Unit 1: Introduction to Financial Services Environment and Products (ITFS) ii. Unit 2: UK Financial Services and Regulation (UKFS) iii. Unit 3: Supervising in a Regulated Environment (SRE) Total Qualification Time (TQT) Total Qualification Time (TQT) is a prediction of the total time a student with no prior knowledge might need to complete the course. TQT consists of two elements, Guided Learning (GL) and all other hours: GL is time spent studying under the immediate guidance of supervision of a teacher. All other hours include hours spent unsupervised in research, learning, e-learning, e- assessment, completing coursework, completing homework, exam preparation, and formal assessments. CeSRE is primarily considered as a distance learning qualification with on-demand examination sessions. Guided Learning Hours Other hours Total Qualification Time 0 hours 150 hours 150 hours Learning resources The following learning resources are provided: Hard copy versions of learning materials; Online access via My LIBF to learning materials and to KnowledgeBank (virtual library) UKFR study guide; and Unit syllabuses. Page 6 of 10
In addition to the study texts supplied, you can purchase other learning support products: Specimen examination papers; Revision notes; An online support service; and A Competence Revision Tool (CRT). Page 7 of 10
What to do before the assessment You must be registered to sit examinations at a centre of your choice (subject to demand / availability); managed by you. Examinations are sat electronically at any one of the 150 Pearson VUE test centres across the UK. It is recommended that examinations are booked two months in advance of the date you wish to sit. However, subject to availability, an examination can be booked as little as two working days in advance. Examinations can be booked over the phone or via the Pearson VUE website. To prepare for each assessment, you should make use of all learning resources. Assessment All components and units are mandatory and assessed. Each unit is assessed through multiple- choice questions. A total of 100 marks are available from the first two units comprising 50 marks per unit. A total of 75 marks are available from the third unit. Each unit pass mark is 70%; to pass each unit you must achieve the minimum pass mark. The structure of the assessment ensures that all aspects of the course content are subject to external examination. Feedback for MCQ assessments is provided in your analysis sheets (available on www.mylibf.ac.uk) for the qualification to see your assessment performance. Qualification grading The overall qualification is graded pass only. To achieve a pass, you must achieve a mark of 70% in each unit. Each unit is graded pass but higher level passes are identified as pass at merit/distinction level. Grade Pass mark Pass 70% Pass (at merit level) 80% Pass (at distinction level) 90% Page 8 of 10
Re-sit attempts The qualification has a 12 month registration period. If you have been unsuccessful in an examination, you will only resit the unit you were unsuccessful in. There are no restrictions on the number of times you can resit a unit although each resit will require a new registration. Page 9 of 10
Appendices Appendix 1 Regulation detail This document describes the regulation detail that is applicable to the qualification. Qualification title Ofqual qualification number 601 / 5439 / 1 Qualification level 3 European Qualifications Framework (EQF) level Qualification type Regulation start date 06 January 2015 LIBF Level 3 Certificate in Supervising in a Regulated Environment (CeSRE) 4 Vocationally-Related Qualification Operational start date 01 February 2015 Assessment available in English Assessment available in Welsh Assessment available in Irish Sector subject area Yes No No Total credits 15 Minimum credits at / above level Guided learning hours 0 Total qualification time Overall grading type Assessment methods Qualification description 15.1 Accounting and Finance 15 150 hours Pass Multiple-choice examination CeSRE qualification consists of three mandatory units. A total credit value of 15 must be obtained for achievement of the qualification. Page 10 of 10