The Chartered Insurance Institute has launched a Professional Map competency framework to help insurance and personal finance professionals develop their careers.
The roadmap has been developed for use by other professionals and employers.
The CII said the map enabled professionals to self-asses their existing competencies, identify career pathways, prepare for appraisals and development plans and find relevant learning solutions to fill skills gaps.
The professional body said the initiative would also help employers attract, develop and retain talent by using the map to develop standardised job specifications, design competency-based interviews and evaluations, and prioritise organisational skills development plans.
The map was developed by 200 technical and regulatory experts and practitioners, learning and development specialists and HR professionals. It was also shaped by feedback received via the CII’s ‘Shaping the future together’ consultation with members last year.
Alasdair Walker, chair of the Personal Finance Society’s Power Panel and managing director of Chartered Financial Planner Handford, Aitkenhead & Walker, said: “The Professional Map stands to help practitioners, aspiring practitioners, recruiters and trainers understand the wider set of skills needed to develop careers in Financial Planning, in addition to technical knowledge.”
Alan Vallance, CEO of the CII, added that the Professional Map would become the ‘golden thread’ in the CII’s offering, enabling alignment between professional standards and lifelong learning. The map can be accessed via the home page of the Personal Finance Society’s website.
The CII has made several recent changes to its training and education offerings as part of a raft of changes following the ‘Shaping the future together’ consultation.
Over the next 12 months it plans to pilot changes to the assessment method for the R06 Financial Planning Practice qualification, and pilot changes to the way qualifications are delivered, with a digital qualification format to be offered for international qualifications.
The professional body, widely criticised over plans to deregister its Personal Finance Society Financial Planning arm as a separate company, will also engage more with local institutes, membership societies and regional committees, strive to help shape future regulation and place more emphasis on adherence to professional standards when professionals apply for and renew their membership.
The CII also plans to do more to communicate to consumers the value of choosing a Chartered firm.
