New course to bolster finance industry skills

A new course to bolster skills in the finance sector in areas including compliance and anti-money laundering is set to be launched in September.

University College Isle of Man (UCM) has teamed up with the Isle of Man's financial regulator to create the two-year full time course aimed at those seeking to work in business support roles.

The Financial Services Authority (FSA) has worked with the college to support the delivery of modules and members, alongside industry professionals, will provide information about the island's regulatory framework.

UCM vice-principal Joanne Richardson said the college aimed to offer courses to help meet employers' needs for workplace skills, while "equipping people with qualifications that boost their career prospects".

Fundamentals

A number of authority officers have also volunteered to act as mentors to help students work towards their International Compliance Association (ICA) qualification, which is an introductory course in the area.

Ashley Whyte of the FSA said the course would enable individuals to learn the "fundamentals of business administration while gaining an insight into the world of compliance and anti-money laundering from regulators and industry professionals".

The City and Guilds Level 3 Diploma in Business Administration includes Microsoft Office Specialist and ICA qualifications.

Topics will include communication in business, principals of administration, professional development, information systems management, and countering the financing of terrorism.

The latest course comes as a new strategy to address the island's skill shortage over a three-year period has been produced, with a key target of promoting lifelong learning by creating vocational pathways.