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All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
| SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
| REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE: |
| National Certificate: Banking Service Advice |
| SAQA QUAL ID | QUALIFICATION TITLE | |||
| 62811 | National Certificate: Banking Service Advice | |||
| ORIGINATOR | ||||
| Milpark Education (Pty) Ltd | ||||
| PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | NQF SUB-FRAMEWORK | |||
| CHE - Council on Higher Education | HEQSF - Higher Education Qualifications Sub-framework | |||
| QUALIFICATION TYPE | FIELD | SUBFIELD | ||
| National Certificate | Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | ||
| ABET BAND | MINIMUM CREDITS | PRE-2009 NQF LEVEL | NQF LEVEL | QUAL CLASS |
| Undefined | 131 | Level 5 | Level N/A: Pre-2009 was L5 | Regular-Provider-ELOAC |
| REGISTRATION STATUS | SAQA DECISION NUMBER | REGISTRATION START DATE | REGISTRATION END DATE | |
|
Passed the End Date - Status was "Reregistered" |
SAQA 06120/18 | 2018-07-01 | 2018-12-31 | |
| LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
| 2019-12-31 | 2022-12-31 | |||
| In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This qualification does not replace any other qualification and is not replaced by any other qualification. |
| PURPOSE AND RATIONALE OF THE QUALIFICATION |
| Purpose:
The general purpose of this National Certificate programme is to afford learners the opportunity to develop particular skills, aligned applied proficiencies and critical knowledge in various subjects, such as: economic fundamentals relative to the investment environment; personal financial advisory services; fundamental principles of accounting and investment as well as business principles; financial legislative requirements; and financial banking and insurance concepts. The primary purpose of the National Certificate in Banking Services Advice is to provide and equip learners with a fundamental understanding, rigorous knowledge and relevant skills to comply with the requirements of the regulations under the FAIS Act to enable them to offer financial advice to clients in the banking sector. The successful learner will be able to be recognized as a fit and proper person to render financial advice in the banking sector in terms of the Regulations under the FAIS Act. This qualification also aims to provide qualifying learners with the basic competencies and skills necessary to apply the essential principles of banking to the operations of any segment of the financial services sector to the benefit of the local economy. The qualification will empower learners to acquire these skills, attitudes and values required to operate responsibly in the banking sector. In this regard, knowledge gained through the National Certificate programme attempts to equip learners with the attitudes and abilities necessary for making sense of the discipline as well as the world of work in a way that ensures chances for ongoing personal and intellectual development as well as financially viable activities; such outcomes are intended to encourage lifelong learning. Rationale: The National Certificate in Banking (Financial Services) Programme at Milpark Business School provides a different and needed model of higher education in this discipline, some of its characteristics being: Milpark Business School have developed and look to offer a whole qualification to assist financial planners to become compliant in terms of the current Fit and Proper requirements. "Fit and Proper" is subordinate legislation to the FAIS Act, which has introduced licensing and qualification requirements for all financial advisers and financial service providers. Failure to have such a license will result in the financial planner not being allowed to operate his/her business or market any financial products whatsoever. The National Certificate: Banking Services Advice aims to give all learners a fundamental understanding of FAIS requirements and other relevant legislation as well as foundational knowledge and skills required for financial planning and for providing financial services of all kinds. The qualification also introduces the learner to basic accounting and provides him/her with banking concepts, techniques and principles. The qualifying learner will thus have a firm foundation of knowledge of the banking sector and will have the necessary skills to secure a career in banking and embark on a path of lifelong learning at higher levels in banking or other fields in the financial services sector. The general purpose of this National Certificate programme is to afford learners the opportunity to develop particular skills, aligned applied proficiencies and critical knowledge in various subjects, such as: economic fundamentals relative to the investment environment; personal financial advisory services; fundamental principles of accounting and investment as well as business principles; financial legislative requirements; and financial banking and insurance concepts. The primary purpose of the National Certificate in Banking Services Advice is to provide and equip learners with a fundamental understanding, rigorous knowledge and relevant skills to comply with the requirements of the regulations under the FAIS Act to enable them to offer financial advice to clients in the banking sector. The successful learner will be able to be recognized as a fit and proper person to render financial advice in the banking sector in terms of the Regulations under the FAIS Act. This qualification also aims to provide qualifying learners with the basic competencies and skills necessary to apply the essential principles of banking to the operations of any segment of the financial services sector to the benefit of the local economy. The qualification will empower learners to acquire these skills, attitudes and values required to operate responsibly in the banking sector. In this regard, knowledge gained through the National Certificate programme attempts to equip learners with the attitudes and abilities necessary for making sense of the discipline as well as the world of work in a way that ensures chances for ongoing personal and intellectual development as well as financially viable activities; such outcomes are intended to encourage lifelong learning. |
| LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
| The minimum level of learning required for a learner to enter and complete successfully the Damelin National Certificate in Banking (Financial Services) Programme is a level equivalent to that required for successful completion of the South African Grade 12 Examination or a Grade 11 certificate (accompanied by an interview).
Further, given that the language of instruction is English, a learner entering the programme must be competent in the use of English. Recognition of Prior Learning: The National Certificate in Banking (Financial Services) allows open access and may be achieved in part by Recognition of Prior Learning (RPL). Provision has been made for prior learning to be recognised if a learner is able to demonstrate competence in the knowledge, skills, values and attitudes implicit in this qualification. Recognition of prior learning will then be based on various criteria: > Observation of a task. > Questioning the learner about the task. > Written evidence that the learner is able to undertake the task in terms of previous work experience. > Verification of completed work. > Performance appraisals. > Training records. > Testimonials. > Work-based learning. > Short courses. > Reviews and commendations. > Certificates and qualifications. This could include, but is not limited to: > Observation of the task for which RPL is required. > Performance appraisal. > Questioning the learner about the task. > Verification of completed work. > Training records. > Testimonials. > Work-based learning. > Short courses. > Workshops attended. > Reviews and commendations. > Interviews. > Projects undertaken. One of the primary objectives of Damelin is to facilitate access to education, as such Milpark Business School had determined that the National Certificate in Banking (Financial Services) qualification may be achieved in part through the recognition of prior learning: learning outcomes achieved through formal, informal and non-formal learning and work experience. Prior learning is recognised in the following ways: Milpark Business School has prepared a system to recognize previous experiential learning and therefore, recognizes prior learning. Indeed, the great majority of Milpark Business School students are mature learners who have been in the work place for several years and who have learned on the job through attending local or international conferences and informal (in-house) courses, working with experts or even doing volunteer work after hours in the community. Milpark Business School acknowledges the value of this non-formal learning and has implemented a system to recognize experiential learning, we believe in giving educational opportunities to as many suitable candidates as possible - we therefore support and practice RPL. Further we assert that our RPL policy assists in addressing past inequities. It is therefore stated that whilst a qualification may be recognized in part or whole through the mechanism of RPL, it will be a comprehensive process for the applicant in that a thorough demonstration of capability and knowledge will be required. Assessment will take place through the preparation of a demanding Portfolio of Evidence and/or a challenge examination/s. It is understood that it will be in rare circumstances that applicants are awarded a qualification in whole through RPL, although it is stated that this is a possibility and incorporated as such into our RPL Policy. Assessment instrument/s ensure that the evaluation of the students meets the stringent requirements of Milpark Business School's Assessment Policy. Any RPL assessments conducted are measured against the Specific Outcomes of the particular module and/or programme. Lastly, students are permitted to appeal against an RPL assessment. Access to the qualification: > A Matriculation (Grade 12) certificate, or equivalent qualification, or a Grade 11 certificate accompanied with an interview is the minimum requirement for admission to the Higher Certificate. > In order to determine the curriculum for which a learner may register, the Damelin Graduate College Points System applies. > Foreign learners whose first language is not English may be required to provide proof of proficiency in English prior to admission into the programme. > Matric symbols: > A - on Higher Grade - 8 points. > A - on Standard Grade - 6 points. > B - on Higher Grade - 7 points. > B - on Standard Grade - 5 points. > C - on Higher Grade - 6 points. > C - on Standard Grade - 4 points. > D - on Higher Grade - 5 points. > D - on Standard Grade - 3 points. > E - on Higher Grade - 4 points. > E - on Standard Grade - 2 points. > F - on Higher Grade - 3 points. > F - on Standard Grade - 1 point. > A learner who achieves more than 13 points may be admitted to the National Certificate in Banking (Financial Services). > A learner who achieves 2 points or less can apply for the Institute of Business Studies Certificate in Business Administration (NQF 3). > Mature age applicants and applicants with non-South African school-leaving qualifications or previous tertiary education experience, will be considered individually by the Dean or Deputy Dean. |
| RECOGNISE PREVIOUS LEARNING? |
| Y |
| QUALIFICATION RULES |
| Level, credits and learning components assigned to the qualification:
> Fundamental: 52 credits at NQF Level 5. > Core: 70 credits at NQF Level 5. > Electives: 9 credits at NQF Level 5. > Total: 131 credits at NQF Level 5. The credit value of individual modules and thus of the programme was calculated using both quantitative and qualitative criteria. > Quantitative: the number of credits per module was calculated based on hours of active learning. > Qualitative: each module was allocated a weighting, based on the level of complexity of the learning outcomes to be attained. The credit value of each module was then calculated by applying the individual module weighting to the total number of credits for the programme. It should be noted that the basic component of the calculation of the credit value of the programme is the actual number of hours (both contact hours and self-study hours) estimated for each module included in the programme. Furthermore, we have taken into account the flexibility reflected in the draft New Academic Policy for Programmes and Qualifications in Higher Education and have given what we believe is an accurate reflection of the programme's requirements. |
| EXIT LEVEL OUTCOMES |
| On completion of Damelin's National Certificate in Banking Services Advice programme, the qualifying learner should be equipped with:
Exit Level Outcomes: Generic Critical Cross-Field Outcomes and Exit Level Outcomes: 1. Demonstrate knowledge and understanding of fundamental as well as advanced concepts and principles. 2. Demonstrate reasoning skills through identifying and solve problems using critical and creative thinking. 3. Manage and organise their learning activities responsibly. 4. Communicate understanding in writing, orally and using symbolic and/or other forms of representation. 5. Apply knowledge and ways of thinking to societal issues, taking into account ethical and cultural considerations. |
| ASSOCIATED ASSESSMENT CRITERIA |
| 1:
Each of the above can be assessed within the Core modules of the Certificate Programme. 2: 3: 4: 5: Integrated assessment: Damelin practices an integrated system of assessment, in terms of which learners are assessed on an ongoing basis. Both formative and summative assessment methods are used. Continual formative assessment is employed in study material so that learners can assess their progress, in the achievement of specific learning outcomes, using included feedback. The formative assessment tasks can be found with each component of the study material in the form of one of the following: Summative assessment is concerned with the judgement of the learning in relation to the exit level outcomes of the qualification. Such judgement includes integrated assessment(s) that test the learners' ability to integrate the larger body of knowledge, skills and attitudes that are represented by the exit-level outcomes as a whole. In terms of, the National Certificate in Banking (Financial Services) at Milpark Business School, summative assessment takes the form of a final examination in each module. The marks attained in these activities constitute the learners' final mark for the module. The components of the final mark are determined separately for each module. Milpark Business School acknowledges that at this time feedback on formative assessments on the National Certificate appear in the form of suggested, ideal answers that enable the learner to see a more robust and whole answer to the question. The learner is then able to compare their answer with the 'more correct' answer. However, in the near future and probably the next academic cycle, it is the aim of this institution to advance and enhance the feedback system to ensure that in addition to a memorandum of correct responses, learners will also have their marked assignment returned to them with specific comments that will attempt to indicate to the learner their shortcomings and areas for growth. Milpark Business School then practices an integrated system of assessment, in terms of which learners are assessed on an ongoing basis. Formative assessment methods are employed within the courseware and, in addition, a specific and practical formative assignment (30%) will be compulsory and count towards the learner's final summative mark, while a summative assessment in the form of an examination (70%) completes the assessment cycle of the learner in a particular module. For the formative assessment, a learner will receive timely feedback on his or her assignment. Such formative and summative assessment measures are appropriate for the mode of study, the nature of the discipline as well as the assessment criteria. |
| INTERNATIONAL COMPARABILITY |
| Given that:
Furthermore, the design of the curriculum has been influenced by contemporary developments in Banking and Financial Services. This is an ongoing process that requires constant familiarisation with current practices and legislation in the field of Banking and Financial Services and in the industry. In order to ensure that the Certificate keeps apace with developments curriculum relevance is constantly reassessed and enhanced for maximum effectiveness. Full-time and part-time staff of Milpark Business School participate in the ongoing development of the programme, during the process of which advice is also sought from academic staff at other higher education institutions, members of relevant organisations and members of industry. The Milpark Business School National Certificate in Banking Services Advice is most comparable to the following qualification/s identified using the Regulatory Qualification Framework of the United Kingdom. Qualifications designed for financial advisors which allow them to meet the appropriate qualification requirements of the Financial Services Authority. Such programmes provide an important opportunity to demonstrate knowledge and professionalism to customers. The qualifications are a first step to developing a career as a financial services practitioner. The qualifications provide access with credits to an associate-ship award. Course structures are aligned to Milpark Business School's programme and contain the following modules or specialisations: mortgage advice and practice certificate; UK financial services regulation and ethics; mortgage advice incorporating application; investment planning; financial services regulation and ethics; investment and risk; investment and economics; retirement planning; general insurance certificate; Lloyds introduction and insurance concepts; regulatory introduction; life insurance regulatory rules; basics of financial planning. Comparing the aforesaid with the Milpark Business School academic planner: > Economic fundamentals in an investment environment. > Personal financial advisory services. > Fundamental principles of basic accounting and investment. > Financial legislative requirements. > Financial banking and insurance concepts. > Fit and proper. It is clear that this National Certificate serves a purpose to fulfill a need in the market due to the regulation of service advice. |
| ARTICULATION OPTIONS |
| With regard to vertical articulation, a student who wishes to proceed to further studies at another institution, having completed the National Certificate: Banking Services Advice at Milpark Business School, should be able to do so based on the knowledge and skills acquired during the course of the programme, provided, of course, that his/her academic performance has been of the required standard.
In terms of horizontal articulation: In terms of vertical articulation: One of the objectives of our rigorous external moderation and examination procedure, and of our ongoing interaction with banking industry representatives as well as other tertiary institutions, is to ensure that the content and standard of our curriculum is such that our learners will have the opportunity for both vertical and horizontal articulation, both within and outside of Milpark Business School. Internal, vertical articulation possibilities - this qualification provides entry into a Level 6 qualification, as such the learner can continue into DSBI's Bachelor of Commerce degree in Banking Management. Internal, horizontal articulation possibilities - DSBI offers a various other Level 5 qualifications where learners may move across onto other qualifications, providing they have performed in a satisfactory manner and may have appropriate credits achieved, exempted. External, vertical articulation possibilities - this Level 5 qualification is to equip learners with a fundamental understanding, rigorous knowledge and relevant skills to comply with the requirements of the regulations under the FAIS Act to enable them to offer financial advice to clients in the Banking Sector. At present the vertical articulation is limited and the FPI (Financial Planners Institute) and Inseta is in the process of developing a Level 6 Diploma and one of the entrance requirements is a Level 5 certificate with legal aspects a compulsory subject. This qualification should articulate with the proposal. IISA (Insurance Institute of SA) does not yet have a program with which this program can articulate. The Banking Industry presently sees this qualification as the qualification to comply with the legislation, and other qualifications, when developed and placed on the market, will start articulating into each other. It is a market where the first requirement is now to become registered as a Financial Planner and this is one of the only whole qualifications available. |
| MODERATION OPTIONS |
| Internal moderation:
The lecturer/s responsible for a particular module is/are appointed as internal examiner/s for that module. Internal examiners are responsible for the marking of assessments related to the module for which they are responsible. Currently, Milpark Business School is in the process of refining this procedure. External moderation: All final assessments at all levels of the curriculum are moderated by academic staff of public higher education institutions or by appropriately qualified industry practitioners. Good practice in the selection and appointment of assessors or external examiners is achieved by both academic and administrative involvement in approving the appointment of external examiners within Milpark Business School. This ensures that all staff members involved in appointments understand the criteria for the appointment of external examiners as well as that appointees are assessed effectively and rigorously. An external examiner is appointed in respect of each module or subject at all levels. Overall, all external examiners must have the following attributes: Academic staff from various departments are sources of recommendation for the appointment of external examiners. The criteria, which are employed in the selection of external examiners, are: External examiners who are Academics at other public universities must meet the following requirements: External examiners who are from Industry must meet the following requirements: As of 2005, external examiners are appointed for final assessments at every level of study. Prior to each examination session, a copy of each examination paper, together with a marking memorandum and course outline, is sent to the relevant external examiner for moderation. Once the internal examiner has marked the examination papers, a sample pack for each module is sent to the relevant external examiner. Where there is a disparity between the internal and external examiner's assessment, the assessor concerned together with the relevant HOD will discuss and reach consensus. The School of Banking and Insurance has set up an Advisory Board for all Financial Planning related courses. These boards are composed of: A typical Advisory Board consists of four members - two from industry and two from academia. These Boards have been established to ensure that our programmes and modules are relevant to our learners' needs and appropriately benchmarked against academic and industry standards. On the basis of this, feedback is obtained with regard to the following: Academics/experts are members of the School of Banking and Insurance's Advisory Board for banking related modules. All members of this board provide advice on individual modules if the annual module reviews require this. Some members provide advice on the overall structure of the programme when the programme comes up for review in the Academic Programme Review cycle. In addition to the Advisory Board: Milpark Business School's moderation strategy is made available to students in the Welcome Letter that accompanies the course material received upon registration. An example of such is provided below. Qualified industry experts are appointed as examiners or assessors across all Milpark Business School programmes. Such individuals are generally responsible for the setting of assignments and exam papers. All assignment questions and exam papers are internally moderated by Milpark Business School academics, ensuring that the assignments and exam papers are in line with module and programme outcomes and in accordance with the stated NQF level on which the programme is pegged. In addition, well-qualified industry experts are appointed as external moderators across all Milpark Business School programmes. The external moderator approves the question papers and memoranda prior to an examination sitting and is also responsible for the moderation of the scripts and assignments after the internal examiner has marked the scripts. Milpark Business School has a centralized marking centre where the marking of all assignments and examination papers take place. A 10 % sample of marked scripts is referred to Milpark Business School internal academics that monitor the integrity of the marking process and the performance of students. A further 20 % sample is referred to the external moderators who assess not only the integrity of the marking process but also closely monitor the overall performance of students. The internal examiners and external moderators each complete a comprehensive report highlighting problem areas, commenting on the performance of students and making recommendations for further assessments. In terms of moderation strategies that provide for the revision of assessment if required, Milpark Business School has a "remark policy". Students who would like to request a remarking of an assignment or examination script can do so in writing. Students must request a remark within 15 working days after the official marks have been published. In the event that a new mark is awarded, this is the final mark awarded to the student. Similarly Milpark Business School has mechanisms for appeal of assessments known as the "appeal process". Students may appeal marks awarded on the following grounds: material irregularity or administrative error on the side of Milpark Business School. An appeal against marks will not be considered if documentary proof to substantiate the claim is not provided. The procedure of an appeal is as follows: students have 15 working days from the publishing of the official marks to apply for a remark; a student may only apply for a remark if they have achieved a mark of 38 % or higher; the prescribed fee is payable in advance. In addition, students have 15 working days from publishing of official marks to apply for an examination viewing. The Academic Committee assesses each case on an individual basis and a final assessment decision is made during its scheduled condonation meeting. Lastly, the Deputy Dean/Assistant Dean will sign off the final decision and no further correspondence will be entered into. The following strategies are followed for the deregistration of assessors in the case of lack of satisfactory performance - unsatisfactory behaviour or non-performance of independently contracted academic staff or external examiners must be brought to the attention of the relevant campus Head of Department who will refer the matter to the Assistant Dean/Deputy Dean for necessary action. In the event that Milpark Business School is not satisfied with the services performed by the external, academic staff, we engage in debate and consultation with the individual and are then entitled to give verbal or written notice requesting the individual to take positive steps towards remedying the declared problem within the required time. If no satisfactory improvement is made, DSBI will be entitled to cancel the agreement with immediate effect. In addition it is Milpark Business School's policy to ensure that all full-time academic staff are trained in assessment strategies so as to have an in-depth understanding and be able to successfully engage with external examiners. Milpark Business School does have mechanisms in place for moderators to advise assessors, as such all internal marker and external moderator reports are referred to the Assistant Dean who signs-off on the reports. Comments made by moderators are referred to the relevant HOD who will contact the examiner to provide him/her with feedback. Changes that are approved are made, in cases where there is discord between the external's comment and the opinion or understand of the internal examiner, provision is made for discussion and debate. Lastly in terms of the training of moderators and assessors for the task required, Milpark Business School asserts that an examiner/moderator must be a subject expert. For our purposes, a subject expert means that such person has a reputation in the subject field and either works within the field or has worked in the field. Further, the examiner/moderator as subject expert must also be suitably qualified. Suitably qualified means that the person holds qualifications preferably in the particular field or means that the examiner has extensive experience in the specified field of expertise. External moderators and internal assessors are also all familiar with the educational environment and the parameters involved, i.e. the NQF etc. In addition, all examiners/moderators are appointed by Head Office and are briefed by the relevant HOD on the outcomes of the programme and the specific module outcomes for which they will be responsible - this constitutes our training, in terms of the briefing and familiarisation of the individual with the outcomes and associated assessment criteria. Reports on moderation findings are made available to academic staff and the Deputy Dean/Assistant Dean signs off all moderator reports. All deviations or queries are referred to the Academic Committee for discussion and decision-making. The relevant Head of Department will follow up on and implement the actions following from the Academic Committee decisions taken. Lastly, it is stated that two past learner representatives are included on the Advisory Board and have been involved in meetings of this forum. |
| CRITERIA FOR THE REGISTRATION OF ASSESSORS |
| N/A |
REREGISTRATION HISTORY |
| As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2009; 2012; 2015. |
| LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: |
| NONE |
| PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: |
| This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
| NONE |
| All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |