SAQA All qualifications and part qualifications submitted for public comment, or 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: 

Higher Certificate in Banking Services 
SAQA QUAL ID QUALIFICATION TITLE
90843  Higher Certificate in Banking Services 
ORIGINATOR
Milpark Education (Pty) Ltd (previously known as Milpark Business School) 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Higher 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  120  Not Applicable  NQF Level 05  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  SAQA 06120/18  2018-07-01  2021-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2022-06-30   2024-06-30  

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:
This qualification in Banking Services is an entry-level higher education qualification (being at NQF Level 5) designed to equip learners with the knowledge and skills to operate successfully in a specific junior/entry role in an organisation that promotes banking services.

The qualification is suitable for:
  • A school-leaver who wishes to enter a junior position in banking services.
    Or
  • A person who has achieved another qualification in an applied area of practice or a non-vocational area and seeks a more banking services-oriented qualification.
    Or
  • An employed person wishing to enhance, develop or formalise his/her skills and knowledge with a qualification in this area.

    The qualification is designed to produce persons able to work in varied functions in a banking services environment. In line with the requirements of the Higher Education Qualifications Sub-Framework, (HEQSF), the qualification is primarily vocational or industry oriented and provides a sound basis for successful learners wishing to proceed with further studies. The qualification will thus provide a basic level of higher education knowledge and ensure that the qualifying learner is able to apply such knowledge and competence in an occupation or role in the workplace.

    The qualifying learner will:
  • Demonstrate an understanding of financial legislative requirements and apply the applicable law in a banking services environment.
  • Demonstrate an understanding of how banks and other financial services providers operate in the financial system.
  • Apply knowledge and skills to operate responsibly in a selected discipline within the banking services sector.
  • Demonstrate knowledge and insight into the products and services offered by banks and related financial services providers.

    Rationale:
    This qualification in Banking Services takes the current demands of the banking industry into account whilst also providing a sound academic basis for further study. The qualification will appeal to learners who seek employment or are employed in an organisation that promotes banking services.

    As such, it is in a banking sector that has changed tremendously in the last five years. Firstly, more providers other than banks are nowadays offering banking services. Secondly, there is on-going debate about the stability and ethical standards in the banking industry, both locally and internationally. Thirdly, vast arrays of banking services are offered today via electronic media or the telephone.

    All of these changes were taken into consideration when putting together this qualification. In addition, employers in the banking field gave input into the qualification to ensure that the needs of these stakeholders were taken into consideration. General research around growth strategies of banks and the skills they are looking for was also done. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that the learner would be competent in the language of instruction (English at NQF Level 4) and the theoretical knowledge and understanding accomplished at that level.

    Recognition of Prior Learning (RPL):
    Learners may achieve this qualification through RPL; the institution's RPL policy guides this process. Skills, knowledge and experience in respect of competencies acquired through informal and non-formal learning are also assessed in the RPL process. The learner may then be given access to the qualification and may acquire credits for the appreciable modules.

    Access to the Qualification:
    The access to this qualification is granted to applicants who meet the minimum entrance requirements or the alternative routes of entry. Applicants who are in possession of:
  • A National Senior Certificate (NSC) granting access to a Higher Certificate.
    Or
  • A National Certificate (Vocational) Level 4 (NCV4).
  • An appropriate Further Education and Training Certificate or equivalent.

    Learners who have attained the age of 23 and have three years' work experience in the banking sector industry and are competent in English and Mathematical Literacy may access the qualification. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    This qualification comprises six modules, all at NQF Level 5 and totalling 120 Credits.

    Compulsory Modules:
  • Banking 1A, 20 Credits.
  • Banking 1B L5, 20 Credits.

    Optional Modules (choose four):
  • Sales 1A, 20 Credits.
  • Sales 1B, 20 Credits.
  • Bank Telling, 20 Credits.
  • Customer Service, 20 Credits.
  • Economic Fundamentals, 20 Credits.
  • Business Management, 20 Credits.
  • Introduction to Credit, 20 Credits.
  • Contact Centre Operations: Banking Services, 20 Credits.
  • Business Communication, 20 Credits.
  • Accounting 1A, 20 Credits.
  • Introduction into Micro-Finance, 20 Credits.
  • Personal Financial Planning, 20 Credits. 

  • EXIT LEVEL OUTCOMES 
    1. Demonstrate an understanding of financial legislative requirements and apply the applicable law in a banking services environment.
    2. Demonstrate an understanding of how banks and other financial services providers operate in the financial system.
    3. Demonstrate knowledge and insight into the products and services offered by banks and related financial services providers.
    4. Apply knowledge and skill to operate responsibly in a selected discipline within the banking services sector.

    Critical Cross-Field Outcomes:
    Qualifying learners will be required to demonstrate competence in the following Critical Cross-Field Outcomes:
  • Identify, systematically examine, critically evaluates and solves problems in which responses display that responsible decisions have been made, using critical and creative thinking.
  • Organise and manage oneself and one's activities responsibly and effectively.
  • Collect, analyse, organises and critically evaluates information.
  • Demonstrate an understanding of the world as a set of related systems by recognising that problem solving contexts do not exist in isolation.
  • Self-manage skills development from the range of experiences and learning opportunities available.
  • Transfer skills and continuous learning to organisational setting. 

  • ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Relevant legislation is identified and applied in order to make compliant decisions in the work environment.
  • Own operations are managed within the parameters set by compliance and legislation.
  • The relationship between ethics and financial services legislation is understood against the background of client interaction, responsible business practice and contribution to an ethical business environment.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • The role-players in the industry are identified and categorised and the relationship amongst them is explained.
  • Knowledge of the National Payment System is applied to understand the role banks play in the system.
  • Knowledge of different banking instruments is applied in order to select the correct instrument in a given scenario.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Knowledge of the products offered by banks and related financial services providers is understood.
  • How customers are best served is explained for a given case scenario.
  • Knowledge of processes and procedures is applied in a banking environment in order to ensure efficiency.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Specialised knowledge of a particular field in banking services is applied at a basic level to solve problems, find solutions, select products and provide service to clients.
  • Knowledge of the role that a particular field in banking services plays in the bigger context of the organisation is displayed.

    Integrated Assessment:
    The quality of the assessment is vital in order to provide credible certification and recognition of achievement. The institution makes every effort to ensure credibility in assessment through the application of clear and rigorous procedures and practices. These procedures and practices are controlled by the principles of fairness, validity, reliability and practicability. By implementing these principles, all parties concerned (including learners, employers and learning institutions) may be assured of the credibility of the assessment process. It is in this way that accurate information about the learner's performance against the assessment criteria may be provided.

    Integrated assessment is used extensively across the qualification, particularly in the case studies. Formative assessment takes place through case studies, assignments, including the writing of proposals and financial plans. Summative assessments are integrated into the learning in that they take place at the end of each of the constituent modules of the qualification. 

  • INTERNATIONAL COMPARABILITY 
    The Institute of Financial Services (School of Finance) in the United Kingdom offers a Professional Certificate in Banking at Level 4 in their Framework (first year undergraduate degree level). The Professional Certificate in Banking is an industry benchmark qualification for those starting out in, or aspiring to, a management career in financial services, particularly in retail and commercial banking.

    The Professional Certificate will enable learners to:
  • Gain a thorough grounding in the workings of the sector both from an organisational point of view and in respect of financial markets through the core module 'Financial Markets and Risk'.
  • Appreciate the essential concepts of risk that underpin financial decision-making at every level.
  • Provide assurance to industry employers that the knowledge developed is based on comprehensive understanding of the fundamental principles on which the industry is built.
  • Gain the ability to further develop general financial services knowledge.
  • Focus on a particular area of interest that is specific to personal existing role.

    To achieve the Professional Certificate 120 Credits must be achieved by completing a combination of a core module and optional modules, including at least two 30 Credit modules. The core module (Financial Markets and Risk) must form part of the first 60 Credits achieved.

    30 Credits modules:
  • Assessing Financial Performance.
  • Corporate, Commercial and Business Lending.
  • Corporate Relationship Management.
  • Financial Markets and Risk(core).
  • Fundamentals of Leadership and Management.
  • Introduction to Work Based Learning.
  • Marketing in Financial Services.
  • Practice of Financial Advice.
  • Retail Lending.

    15 Credits modules:
  • Economics.
  • Foundations of Islamic Banking and Finance.
  • Introduction to Banking Law.
  • Practice of Islamic Banking and Finance.

    The American Institute of Bankers (AIB) offers a Bank Marketing Diploma which is an entry level qualification and covers the following modules:
  • Principles of Banking.
  • Dealing Effectively with Co-Workers.
  • Economics for Bankers.
  • Ethical Issues for Bankers.
  • Event Based Selling.
  • Financial and Business Planning for Bank Marketers.
  • Managing Time at Work.
  • Marketing Financial Services.
  • Project Management Fundamentals.
  • Successful Sales Campaigns.

    Conclusion:
    As a comparison, the above certificate and diploma are also introductory level qualifications for the financial services sector, particularly retail and commercial banking. In common with the current qualification, they also allow learners to focus on a particular area of interest that is specific to a role. The different modules indicate a substantial overlap of topics with this qualification. Furthermore, there seems to be a trend to choose between different modules that gives the learner a certain number of credits rather than designing a qualification with a majority of fundamental modules and little freedom of choice. 

  • ARTICULATION OPTIONS 
    This Qualification allows for both horizontal and vertical articulation possibilities.

    The Qualification articulates horizontally with Higher Certificates at NQF Level 5 such as:
  • Business Management
    Or
  • Wealth Management
    Or
  • Operations Management
    Or
  • Human Resource Management.

    The Qualification articulates vertically with Advanced Certificates at NQF Level 6 in areas such as:
  • Management.
    Or
  • Project Management.
    Or
  • Business Management. 

  • MODERATION OPTIONS 
    Internal moderation of all assessment is carried out by the academic staff of the institution. Internal moderators are qualified at least one NQF level higher than that of the learners. External moderation of assessment is performed by suitably qualified persons in other institutions across the country. 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    The assessor must have:
  • A qualification in the related field which is at NQF Level 6 or above.
  • At least 3 years' lecturing/work experience in the field. 

  • NOTES 
    N/A 

    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.
     
    1. Milpark Education (Pty) Ltd (previously known as Milpark Business School) 



    All qualifications and part qualifications submitted for public comment, or 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.