The Banking Sector Education & Training Authority. BANKSETA Masters Programmes and Executive Short Course Funding 2010

Transcription

1 The Banking Sector Education & Training Authority BANKSETA Masters Programmes and Executive Short Course Funding 2010

2 The Banking Sector Education & Training Authority Mission To support transformation and people development and through partnerships to enable stakeholders to advance the national and global position of the broader banking and microfinance industry. 1 K-7715 [

3 Background The BANKSETA is a statutory body established through the Skills Development Act of 1998 to enable its stakeholders to advance the national and global position of the banking and micro-finance industry. As guided by its mandate the BANKSETA is as such an agent of transformation and seeks to promote employment equity and broad-based BEE through skills development. The BANKSETA Council has indicated that there is a continuing need for funding for skills development of employees (Middle and Senior Management) of BANKSETA registered Employers. The need is expressed for funding for Masters Level degrees and also for short Executive Development programmes offered by South African HEQC-registered tertiary institutions. The rationale of funding the Masters programmes and Executive short courses, is to address the following with professionals in specialist areas as well as various management levels in the industry: Skills development aligned to National Skills Development Strategy (NSDS) 2.8 to assist currently employed workers with bursaries Contribute to overall NSDS and Financial Sector Charter equity principles Support employers in the banking sector to achieve their business objectives through targeted skills development interventions. All employees are nominated by Employers as programme beneficiaries and in general the composition of the final list of beneficiaries should be 85% black, 54% female and 4% disabled. This development opportunity should meet a skills need identified in the employee s personal development plan; as well as be applicable to the business need. 2

4 The Banking Sector Education & Training Authority Employers are required to complete the attached Schedule and submit it on or before Monday, 8 March 2010 to: BANKSETA funding@bankseta.org.za Phone: Fax: Late submissions will not be considered. For further information contact Auma Nnane. Guidelines Funding offered The BANKSETA will make funding available to BANKSETA registered Employers to fund their employees Masters Level programmes and/or Executive Short Courses, provided by South African HEQC-registered tertiary institutions. The application period for this funding window is 29 October March 2010 for 2010 programmes. Funding for programmes that exceed this period will be treated as a year-on-year application based on the progress of the candidate. Who can apply? The Employer, will through its designated representative, apply for funding on behalf of their employees. All employees are nominated by Employers as programme beneficiaries and in general the composition of the final list of beneficiaries should be 85% black, 54% female and 4% disabled. 3

5 This development opportunity should meet a skills need identified in the employee s personal development plan; as well as be applicable to the business need. What programmes, skills and institutions? This funding opportunity is provided for programmes on Masters level and senior, professional and executive programmes targeted at Professionals in specialist areas and Senior/ Executive managers. It is recommended that nominated programmes and courses address skills as identified by the Employer s Workplace Skills Plan. Employers are also reminded of scarce skills identified as follows: The banking sector s scarce skills - risk management, ICT and banking, sales & relationship marketing, accounting & banking (as identified in the BANKSETA Future Skills Report, 2008). Microfinance skills needs customer service & relationship management, financial intelligence, administration, microfinance related legislation (as identified in the 2008 BANKSETA MFI Needs Analysis). The nominated programmes and courses have to be offered by any South African HEQC-registered tertiary institutions. Allocation of funds Funding is limited to the cost of fees and books and excludes travel and accommodation costs. Funds are allocated as follows: Super-Large Employers (> 5000 employees): R225,000. Large Employers ( employees): R100,000. 4

6 The Banking Sector Education & Training Authority Medium Employers ( employees): R80,000. Small Employers (< 50 employees): R50,000. Nominations will be accepted on the merits of the application. In the event that the available funding is oversubscribed, the BANKSETA will apply a first come first served basis principle, to ensure the widest spread amongst Employers. BANKSETA reserves the right to reduce the allocation per Employer. NB: BANKSETA will process invoices in terms of the MoA at the commencement of the next financial year (i.e. from April 2010). Procedure 1) Individual Employers will identify candidates as per the guidelines provided. 2) Having identified those candidates that they wish to support, the Employer should complete a schedule of nominations (see attached) and send these to the BANKSETA by the closing date. 3) Employers will be advised of the outcome of their application and any additional information, if required will be requested at that juncture. The schedule of beneficiaries and application forms should be sent to the BANKSETA at funding@bankseta.org.za by 8 March ) On receipt of this information and funds permitting, the BANKSETA will draw a Memorandum of Agreement with each Employer for the approved grant. An application form should be submitted for each beneficiary as data is collected and stored per beneficiary for record purposes. 5

7 5) Memoranda of Agreements should be signed and returned to the BANKSETA within a period of 30 days. If Memoranda are not returned in time, the BANKSETA may reallocate the funds. The Memorandum of Agreement makes provision for the Employer to refund the BANKSETA in the event of noncompletion of the elected programme or course. 6) Employers will invoice the BANKSETA for 75% of the cost of the programme or course once all documentation has been submitted. If there is more than one beneficiary, they may be invoiced together. If the proof of registration is not available yet, this can be submitted later. 7) The BANKSETA will pay the Employer within a period of 30 days of receipt of valid invoices. 8) Reports on beneficiaries progress should be sent to the Funding Administrator on a half yearly basis at the end of June and December. 9) If the half-year reports show progress of the beneficiary in accordance with the Memorandum of Agreement (MoA), the Employer will invoice the BANKSETA for 25% of the cost of the programme or course after the first report (and once the proof of registration has been submitted). If there is more than one candidate, they may be invoiced together. NB: BANKSETA will process invoices in terms of the MoA at the commencement of the next financial year (i.e. from April 2010). 6

8 Contact Details BANKSETA Funding Administrator Phone: Fax: PO Box Vorna Valley, 1686