As a professional body, we know we can only provide our members with the support and services they want if we truly understand their needs. That is why the Shaping the future together consultation is so important
The Chartered Insurance Institute (CII) is dedicated to building public trust in the personal finance and insurance profession and is committed to driving confidence in the power of professional standards.The first weeks of the Shaping the future together consultation, which allows members to have their say about our vision, has seen clear themes emerging and the CII looks forward to exploring these, and those that continue to come forward. Respondents have highlighted their wish for the CII to drive deeper engagement for the profession with the wider public, government and regulatory bodies. It is recognised that there are advantages to a governance model that offers economies of scale to PFS and CII members, and that sharing the common goal of raising professional standards and public trust is crucial.
However, feedback also shows the desire for clear boundaries, a greater voice for the PFS and better aligning local institutes and PFS regional committees to support the local community.
View of the future
“This is the time for every member to have their say on the strengths and challenges of how the CII and PFS currently co-exist and ideas for how this might be improved for the future,” says Sarah Lord, president of the PFS.
“We know that some are not satisfied with the relationship as it stands, so PFS members should feel empowered to share their voice on the issues that matter most. If you have views on structure and governance, then the CII needs to hear them through the consultation.
“In addition, Shaping the future together also gives members the chance to share their views on areas such as the qualification framework, membership structure, professionalism and learning assessment. Be sure to share your views before the consultation closes on 17 December.”
The Shaping the future together consultation addresses several key areas:
- Putting the CII’s learning framework and membership proposition at the core of our strategy, and future-proofing our learning and membership offer for a changing world.
- Evolving how the CII strengthens professionalism and public trust across the personal finance and insurance profession.
- Ensuring the CII’s governance structure is robust and fit for purpose.
- Ensuring members are at the heart of the CII’s purpose and priorities.
- Ensuring that the CII is influential through evidence-based analysis appropriately advocated, in the public interest, through and on behalf of our members.
A vision for the future
1 A simplified qualification framework
The consultation proposes to create significantly simplified qualification pathways, supported by certified development programmes that will cover the breadth of content needed by all students and practitioners. These programmes and qualifications will reflect the knowledge, behaviours and enablers needed for the profession today and in the future. By supporting our simplified pathways with development programmes, the CII will be more readily able to bring cutting-edge content to the market rapidly.
The CII also proposes to recognise these programmes as part of the Experience Assessment route towards Chartered membership levels.
2 Enriching membership experiences
Current CII membership levels are closely aligned to qualification levels, but previous feedback has been that it is often confusing to understand which of the seven levels of membership is most relevant. However, with the development of the Professional Map, and the recognition of a need for today’s professionals to demonstrate a broader set of competencies, the consultation proposes membership levels should be aligned with the identified Professional Map bands and reflect the achievements inherent in demonstrating those broader competencies.
The CII is proposing a new membership model to help address this, which has just three levels of professional membership: Member, Chartered Member and Chartered Fellow, with membership designations MCII, CMCII & CFCII (and equivalents for PFS and SMP members). The CII believes this simplification will provide members with a more powerful and universal recognition of the broader competencies that they have built and demonstrate as a professional.
3 An operating model that delivers equal value to all
Shaping the future together sets out a vision of a unified professional body while recognising and respecting the differences, nuances and needs of each segment of its membership.
It is underpinned by a belief that a future based on ongoing positive collaboration would be in the best interests of all. We recognise, however, that while a great deal has been achieved together, some of our members are unhappy with the PFS and CII relationship as it currently stands.
The consultation invites members’ views on the strengths and challenges of how PFS and the CII currently operate and seeks input on how PFS and the CII could best co-exist in the future. Shaping the future together also invites views on how the personal finance and insurance professions best work together to raise standards and secure public trust.
Image credit | iStock
Have your say
Please visit the Shaping the future together webpage – www.thepfs.org/ consultation – to find out more and to review the dedicated PFS consultation supplement. We encourage all members to have their say before the consultation closes on 17 December. The CII will share the findings with members and give updates on next steps next year.