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What Does A Finance Apprentice Do?

With finance roles in demand, you’d be forgiven for thinking that a degree is absolutely essential to get started. However, these days there are alternative options to land your first finance role – options where instead of paying to learn, you get paid to learn!

Apprenticeships will equip you with all the financial knowledge and lingo you need with your qualification. But what experience will you get on the apprenticeship, and what does a finance apprentice get up to day to day?

Insurance Jobs

Want to ensure your finance career gets off to a good start? Insurance apprenticeships are enjoying an increasing profile within a range of companies across the UK, including household names like Direct Line and NFU Mutual.

On an insurance apprenticeship, day to day tasks include settling and processing insurance claims, and offering insurance packages to clients – from the general public to different companies - using a growing knowledge of insurance.

Jumping into these tasks may sound intimidating, but a qualification with CII (the Chartered Institute of Insurance) will get you up to speed, as they are the world’s largest professional body for financial services. This qualification coupled with on-the-job training you will make you fluent in finance-specific terms, and give you the practical skills you need while earning a wage.

 

On an insurance apprenticeship, day to day tasks include settling and processing insurance claims, and offering insurance packages to clients – from the general public to different companies - using a growing knowledge of insurance.

Jumping into these tasks may sound intimidating, but a qualification with CII (the Chartered Institute of Insurance) will get you up to speed, as they are the world’s largest professional body for financial services. This qualification coupled with on-the-job training you will make you fluent in finance-specific terms, and give you the practical skills you need while earning a wage.

Financial Admin

Administration roles are well-known for giving you a variety of flexible skills that will come in handy at any workplace. However, a financial admin role will specifically prepare you for the finance industry, where you gain a foundation of knowledge of how everything works behind the scenes.

This role will test your customer service skills by assisting new customers through their first steps in the business, and you will build your analysis skills by writing up reports on the company’s finances. Of course, you will also help the company run smoothly with your organisational skills!

At level 2 on this apprenticeship, you will achieve a CII award in Financial Administration, and a level 2 Certificate in Customer Service.

Mortgage Advice

A career as a mortgage advisor is actually a very rewarding one, as you will be assisting people through one of the biggest changes in their lives: buying a new home.

That means that you will have to confidently explain complex issues with clarity – so it’s essential that you know the ins and outs! An apprenticeship as a mortgage advisor and a Certificate in Mortgage Advice and Practice (CeMAP) is what you will need to get started in the role, and gain the right knowledge with a qualification recognised by employers and clients alike.

This will include tasks such as liaising with estate agents and property valuers, and writing up illustration documents (which will explain the key features of the mortgage) for customers.

Don’t take it from us… here’s one of our learners:

Jade Holloway worked as an insurance advisor at Mercer and Jones Co. Ltd, and graduated with a CII Certificate in Providing Financial Services. Here’s her experience:

‘I worked as an apprentice insurance advisor at Mercer and Jones Co. Ltd, and every day was manic! I carried out activities like giving quotations and referrals, as well as chasing up and speaking to insurers.

‘Aside from all the administrative skills I picked up, I really feel like this apprenticeship has got me out of my shell. Before, I was very shy. At times, I even had trouble getting out of the house and going to the shop. But this apprenticeship has boosted my confidence massively after speaking to so many people over the phone, including customers and insurers. I really feel like I can talk to anybody.

 

‘At first, I had a few difficulties understanding everything the role involved. I had to get my head around complicated procedures, learning how to assess the risks of each client. You have to bear in mind that every customer is different, and be flexible enough to change your approach.

‘My advisors and tutor were there for every step of the way. I always felt comfortable enough to ask them about anything I didn’t understand.

 

‘I just can’t wait to continue, and get some more qualifications under my belt. The next plan is to gain more CII qualifications, and continue gaining experience!’

Want to know if a finance apprenticeship is right for you? Join this webinar on January 30th to learn more about what a finance role involves with a finance apprenticeship specialist.

Alternatively, you can get in touch with Babington Group about available apprenticeships here, or on 01332 613688. 

Babington Group


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