Are you looking to begin your journey into the world of work with a finance or law Apprenticeship? Finance and law Apprenticeships offer entry into a prestigious and highly skilled industry that offers a rewarding career path.
What will finance and law Apprenticeships involve?
Finance and law Apprenticeships will expose you to real life situations within the industry. Finance and law Apprenticeships involve practical on the job training as well as off the job training. You’ll gain work experience, professional qualifications and invaluable skills. There an extensive range of opportunities available to you from paralegal to accountant and even a solicitor. Apprenticeships are available in this industry at intermediate all the way up to degree level.
What finance and law Apprenticeships are available to you?
Finance and law is a huge industry, according to William Turvill (City A.M. ’s chief reporter) the ‘financial and professional services industry contributes £176bn to the UK economy’. Read the full report.
There are a broad range of finance and law Apprenticeships available to you. Here are a handful of options available to you:
Accounting – Do you have a love for numbers and problem solving? Gain skills, experience and knowledge in accountancy with an Apprenticeship. As an accountant, you could be working within audit, tax or payroll. Accountancy is all about money, management and the business. These are all instrumental to the success of a company, every business need accountants and it’s considered one of the most secure jobs in a constantly evolving job market. Through an Apprenticeship in accounting, you’ll gain a professional AAT qualification.
Insurance – As an insurance apprentice you could be working within underwriting, claims or actuarial. You’ll receive comprehensive training and real responsibility allowing you to develop your skill set and experience within the business.
Investment – Investment Apprenticeships will build your knowledge of stock exchanges, stockbrokers, investment, banks, financial advice and investment consulting. If you’re looking for a diverse career this could be your perfect role.
Mortgage – Launch your career with a mortgage Apprenticeship and learn all about the mortgage market. If you want to help people to get the feet on the property ladder this could be your perfect career. Your day to day jobs could include dealing with estate agents, mortgage lenders and valuers.
Legal Administrator – A legal administrator Apprenticeship will help you kick start your career in the world of law. You’ll gain an understanding of the law and apply this to your work.
Paralegal – As a paralegal apprentice you will work with an administration team helping different parts of the business and opening different files for various departments, organising the courts diary and making bill payments. Upon completion you’ll be able to progress to a chartered legal executive or solicitor Apprenticeship.
Solicitor – University isn’t the only route to becoming a solicitor like many people presume. You can do an Apprenticeship to become a fully qualified solicitor with plenty of experience under your belt.
Skills needed for finance and law Apprenticeships
Can you argue black is white? Do maths and numbers excite you? Then you might be interested in a finance or law Apprenticeship. You’ll need to possess the following attributes to succeed in the industry: excellent communication and listening skills, attention to detail, ability to manage workload. You will also need to be able to use your critical and logical thinking abilities to solve problems.
The list below shows current Apprenticeship frameworks being delivered in the finance and law industry:
Accounting – Level 2, 3, 4
Financial Services – Level 2,3
Court, Tribunal and Prosecution Operations – Level 2, 3
Legal Services – Level 3, 4
Apprenticeships are currently undergoing change. By 2020 all frameworks will be replaced with standards. Frameworks don’t always work and the Institute for Apprenticeships are heightening the quality of Apprenticeships. New standards focus on skills, knowledge and behaviours of apprentices and you’ll be assessed prior to completing your Apprenticeship.
Here is a list of Apprenticeship standards in the finance and law industry that have been approved and are ready for delivery:
Accountancy/taxation – Level 7
Actuarial Technician – Level 4
Credit Controller/Debt Collector – Level 2, 3
Assistant Accountant – Level 3
Chartered Legal Executive – Level 6
Compliance/Risk Officer – Level 3
Conveyancing Technician – Level 4
Financial Advisor – Level 4
Financial Services Administrator – Level 3
Financial Services Customer Advisor – Level 2
Financial Service Professional – Level 6
Insurance Practitioner – Level 3
Insurance Professional – Level 4
Investment Operations Administrator – Level 2
Investment Operations Technician – Level 3
Investment Operations Specialist – Level 4
Licences Conveyancer – Level 6
Mortgage Advisor – Level 3
Motor Finance Specialist – Level 3
Paralegal – Level 3
Paraplanner – Level 4
Probate Technician – Level 4
Professional Accounting Taxation Technician – Level 4
Relationship Manager – Level 6
Senior Compliance/Risk Specialist – Level 6
Senior Financial Services Customer Advisor – Level 3
Senior Insurance Professional – Level 6
Solicitor – Level 7
Workplace Pensions – Level 3
The following standards are currently undergoing development and have not yet been approved:
Accounts Assistant – Level 2
Actuary – Level 7
Book Keeper – Level 3
Internal Audit Practitioner – Level 4
Payroll Administrator – Level 3
Professional Economist – Level 6
Professional Internal Audit – Level 7
Senior Investment/Commerial Banking – Level 7
Small Business Finance Administrator – Level 3
Find out more about the standards available.
Looking for debt-free option into finance and law? Apprenticeships really are a great place to start when looking to kick start your career in the industry. You can find a wide range of Finance and law Apprenticeships at Careermap. Check them out to find your perfect role.