Mutual & Federal hails success of FSC Learnership Programme

Short-term insurer Mutual & Federal has hailed the successes achieved by the first graduates of its Financial Sector Charter Learnership Programme and committed itself to on-going preparation of unemployed black matriculates for a career in financial services.

The first Graduates of the regional programme were honoured at ceremonies in late July and early August at Mutual & Federal Head Office in Johannesburg and regional offices in Cape Town and Durban.

Mutual & Federal has so far launched two annual Learnership Programmes, which commenced on September 2004 and April 2006 respectively, with a third on the horizon.

The programmes give expression to the Financial Sector Charter pledge that each financial institution will employ up to 4.5% of its staff in the form of unemployed black matriculants, or the NQF 4 (National Qualification Framework, level 4) equivalent, in the form of registered learnerships.

The Learnership Programme has a unique structure in that it offers both theoretical learning and workplace experience thereby closing the gap between current education and training in terms of the labour market requirements.

With each intake, 46 Learners are employed on a fixed-term contract at the short-term insurers offices in various parts of the country. They are each assigned a Mentor, Learnership Administrator and internal Learning Consultant to provide them with theoretical - and systems training, and to develop and coach them in the on-the-job application of theoretical principles.

Of the 46 Learners in the first intake, 45 completed the Programme and have now received their National Short-term Insurance Certificate for NQF Level 4 qualification.

Of the 45 Learners, 37 were offered employment by Mutual & Federal on completion of the Programme. Currently 43 Learners are employed in the Insurance industry whilst two learners have decided to embark on further tertiary studies. This calculates to 95.5% of Learners who were employed in the Insurance industry on successful completion of the Mutual & Federal Learnership Programme compared to the industry standard of 37.88% in the same period.

During the first intake Mutual & Federal contracted Damelin School of Banking and Insurance as their official Training Provider. Damelin delivered the theoretical training whilst Mutual & Federal concentrated on the practical component.

The Training Department of Mutual & Federal has been accredited as a Provider of Education and Training since March 2003 and has since aligned their internal offerings to National Unit Standards and an NQF 4 Short Term Insurance Qualification. Mutual & Federal is therefore currently providing both the theoretical - and practical component in house.

Although INSETA provides funding for the Learnership programme in the form of grant payments, Mutual & Federal is investing in excess of R12 million towards the Learnership initiative.

Bruce Campbell, managing director of Mutual & Federal, commented: "This programme proved an outstanding success because of the way our Learners seized the opportunity and because of the commitment of the Mentors and Administrators who put their experience to work for the good of these young people and the good of our industry."

"Our organisation was able to give a lead in the implementation of this segment of the Financial Service Charter because of the priority we have always given to training and people development.

"As early as March 2003, Mutual & Federal was accredited by the Insurance Sector Quality Authority as a Provider of Education and Training. We could therefore align our learning models with nationally recognised unit standards and qualifications.

"This is not the end of the line for learnership development. This is work in progress. I congratulate all graduates and commend everyone associated with this sterling effort."

In addition to presentations to graduates, the 36 mentors who committed themselves to the project were also presented with certificates commending their dedication and contribution in the successful implementation of the Financial Sector Charter Learnership Programme.