Apprenticeship offer

The HFMA Academy is now a main training provider for apprenticeships and plans to have a level 4 accountancy apprenticeship up and running by the start of 2020.

This is a major step for the HFMA. It means that it can now offer accountancy training as part of an apprenticeship, enriching this core training with contextual content to support students working in healthcare. And for NHS employers, it enables accountancy training to be supported by apprenticeship levy funds.

All employers with a pay bill of more than £3m now pay the apprenticeship levy, calculated at 0.5% of their annual pay bill. These funds sit in each employer’s account, topped up by government, and can only be used to fund the costs of approved apprenticeships.

The academy is looking to offer apprenticeships in accountancy level 3, 4 and 7 and a masters senior leader level 7 among other relevant apprenticeships. However, the focus initially will be on the level 4 apprenticeships.

This will involve working with a delivery partner to teach the accountancy qualification content. The HFMA will work with the employer to determine whether the apprentice should study towards an ACCA, CIMA, AAT or ICAEW qualification.

Being part of an apprenticeship, students would be guaranteed time during their working hours to spend on their studies.

Wrapped around this accountancy core is a suite of material and support that helps students to place their technical training in the context of the health service they work in.

The HFMA has established level 7 and level 4 qualifications in recent years, with level 4 material covering a basic How finance works in the NHS module, along with more specific detail on costing, management governance and transformation.

The apprenticeship package will draw on this material, but it will be tailored to provide accountancy technician apprentices with a strong contextual understanding of the NHS
and many of the issues they will come across in their day jobs.

All of the content – both the core accountancy modules and the enriching contextual material – has been designed solely for online delivery.

Students will face the usual formal exams as part of their accountancy qualification, but there will be no additional exams on top of these.

However, skills coaches will see the students every two months to review progress and ensure that students are accessing the necessary materials and developing at the right pace.

The end point assessment to complete the apprenticeship is set by the accountancy professional body.

Under an apprenticeship, 20% of each apprentice’s working time must be spent in training and development. While this includes time off for professional qualification study, the HFMA Academy will also support employers in identifying current development activities that already count towards this target.

It will also help with the design of any additional activities required.

A level 4 accountancy apprenticeship pilot is targeted to start in January, when the academy will be looking to take on around 15 apprentices. This may be a national intake or focused on a specific region, with a further pilot group starting in the summer.

The association is hoping to have the masters senior leader level 7 apprenticeship ready by September 2020. 

The new apprenticeships aim to meet real demand from the NHS finance sector. Apprentices will gain their professional qualifications with an enhanced understanding of the NHS.

Employers will benefit from apprentices’ richer knowledge of the NHS – graduating from the scheme better equipped to contribute to their teams and departments.