Alan Nuzum

CEO Skillnets

18th February 2009

Introduction to Skillnets

• Formed in 1999 as an independent body under DETE mandate

• Enterprise-led Board (IBEC/ ICTU/ CI/ CIF/ SFA)

• Funded through the National Training Fund for

• Private sector firms

• Broad cross section of sectors, regions & companies

• People in employment

• Support multi-national to small/ medium enterprises

• Skillnets Mandate: to act as an enterprise-led support body dedicated to the promotion and facilitation of enterprise training, the support of innovation and development of workplace learning - a key element in sustaining national competitiveness

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Skillnets Strategic Framework 2005 - 2010• Four key building blocks form the basis of the Skillnets strategy

and inform its programme of activity

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Background to Finuas Networks Programme

2004 IDA commissioned Report by Deloitte Future of International Financial Services Sector in Ireland

2006 Dept of Taoiseach Report, Building on Success - International Financial Services Industry in Ireland

2007 EGFSN & CHG Report Future Skills and Research Needs of the International Financial Services Industry

2008 Clearing House Sub Group Report Developing Skills in the International Financial Services Industry in Ireland – The Fenero Initiative

2009 Finuas Networks Programme 2009 – 2010

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Finuas Networks Programme (Finuas)

• Finuas is approved up to €2.5m funding for 2009

Envisaged Finuas will be implemented over 5 year period (2009-2013)

• Funded by Department of Enterprise Trade and Employment from the resources of the National Training Fund

• Finuas modelled on the successful Skillnets Training Networks programme. Skillnets Ltd is the Managing Agent for Finuas Networks Programme

• Dedicated to developing enterprise-led learning networks exclusively within the International Financial Services sector

• Eligible activities must be related to internationally traded financial services – Banking & Capital Markets, Investment and Insurance plus companies providing professional services to this highly specialised sector

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Objectives of Finuas

• Promote an enterprise-led approach to learning within IFS sector 

• Develop the skills of existing staff and expand the pool of high value, specialised and market-appropriate skills within the industry

• Increase range and mix of current training and education provision and create flexible learning opportunities

• Provide new & revised industry-specific programmes and awards that are aligned to business/market needs

• Put in place a flexible process, which can respond rapidly to industry changes or developments

• Increase capacity in high-value skills necessary to retain a national competitive advantage for the IFS sector

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International Financial Services Industry Profile

Source: Future Skills and Research needs of the International Financial Services Industry, December 2007, Expert Group on Future Skills Needs.

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A Finuas network is a group of private sector companies, of any size, led by a steering group that collaborate to jointly address their training needs in innovative and flexible ways.

Applicants must present a detailed training plan with a clear business rationale that demonstrates how the network’s training programme will impact on member companies’ competitiveness and the ongoing employability of their staff.

Each Finuas network will have a contracting organisation who will take responsibility for the funding agreement and receive funds from Skillnets on behalf of the network group.

What is a Finuas Network?

Finuas Network Structure

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FINUAS network

Steering Group

Evaluators

Consultants

Network

Contracting

Organisation

& Promoter

Member Companies

Company

Representatives

Trainees

Trainers

Colleges

Certifying Bodies

Others

Network Manager

Finuas Networks Programme Funding

• Finuas networks operate on co-funded model with member companies contributing matching cash funding

• Competitive call for network proposals for the period 1st June 2009 to 31st December 2010

• Funding available at the following maximum levels

up to 50% for Customisation and delivery of Training

up to 75% for Development of New Training or Certification

• Funding for approved networks for 2010 is subject to funding being available and satisfactory performance in 2009.

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Finuas Networks Application Process

• Competitive call for network proposals for the period

1st June 2009 to 31st December 2010

• Application forms and guidelines available on www.finuas.ie

• Applications must be submitted by 24th April 2009

• Approved networks shall be confirmed in May 2009

• Networks commence from 1st June 2009

• Funding for approved networks for 2010 is subject to funding being available at the time and satisfactory performance in 2009

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Finuas Network Contracting Organisation

The contracting organisation can be;

• relevant industry and enterprise organisations

• industry associations, federations (i.e. employer organisations)

• trade unions (employee organisations)

• individual companies on behalf of the network members.

• network members can create companies (of which the network members are subscribers) in order to assume joint responsibility for the process.

Note: Entities who are likely to be providing services to Finuas networks are not eligible to be a contracting organisation

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Types of eligible activities

• Development and delivery of new education and training courses – such courses must be additional to existing provision and meet a proven demand

• Updating of existing programmes to ensure current industry relevance

• Industry seminars/conferences/expert master-classes and networking

• Delivery of courses with national, international or professional accreditation

• Flexible delivery mechanisms such as distance, part time modular etc

• Innovative and applied learning opportunities such as mentoring, e-learning and on the job training .

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Successful Finuas network applicants need;

• A clear purpose & concrete objectives based on specific business or market needs within the sector

• Evidence of support from relevant companies who will

- participate on a steering group and/or

- send staff on training programmes and contribute matching funds

• Ability to demonstrate how the network will impact on

- competitiveness of companies & sector, now and in the future

- employability of employees

• To conduct a Training Needs Analysis (TNA)

• Capacity to deliver a training plan that provides innovative and quality training and meets agreed KPIs

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Assessment Criteria for Finuas Networks

Key Criteria Sub Criteria

Strategic Contribution

Structured & Ongoing Industry Support

Business Need

New and Additional provision

Impact on Competitiveness

Operational Effectiveness

Partnerships

Capacity to Deliver

Value for Money

Level of Match Funding

Added Value Features

Innovation

Flexible Learning Methodologies

Certification/Product Development

Special Features

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Application & Network Development Support

 

Information Event: hosted by Skillnets on 24 February 2009

 

Individual Support: Support shall be available from a Finuas advisor to assist enterprise groups in developing ideas and proposals. An advisor can be contacted by phoning the Finuas team at 01 2079630 or info@finuas.com

 

Application Workshop: Designed to support applicant groups in understanding the Finuas network model, eligibility criteria, application requirements on 11 March

 

Information Resources: Dedicated website www.finuas.ie all documentation and details of events shall be available on this site

 

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Finuas Timescales

• Register Interest on-line from 18 Feb

• Finuas Information Briefing 24 Feb

• Finuas Application Workshop 11 March

• Applications submitted 24 April

• Approvals Announced mid May

• Networks commence from 01 June

Finuas - New Financial Skills to Meet Market Challenges and

Opportunities31

Your role?

• Identify areas within the sector that could benefit from training

• Encourage other companies to form applicant groups and ensure all key areas of IFS sector are addressed

• Avail of the supports available from Skillnets

• Ensure applicant groups address a diverse range of training/ development needs within the sector

• Work with Skillnets to ensure Finuas is a success

• Once approved, support Finuas networks to meet agreed KPIs and ensure sector gets full value of available funding in 2009 & beyond

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Your Questions?

Who to contact for further information:

Tracey Donnery

Finuas Programme Manager

Skillnets Ltd

t.donnery@finuas.ie

01 2079630

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