Trainee/Apprentice Debt Adviser - CLOSING DATE 5PM 19 AUGUST 2020
A previous background in debt advice is not required as this position includes paid study of one day per week.
Contact for this application: Sam Nurse Email: email@example.com
Please complete the Google Form Job Application Pack, we will only post job applications if these are required in large print
You will find the Job Details & Specification in the Google Form, and then the application. The Job Specification is also below:
About Money Advice Hub
Money Advice Hub is a not for profit community interest company providing free debt advice and other related advice topics, such as financial capability, wellbeing and digital inclusion. We have an office in King's Lynn and Cambridge, and also advise at various outreach locations. We are the preferred supplier of debt advice and income maximisation for the Borough Council of King's Lynn and West Norfolk and manage other contractual relationships for debt advice, financial capability and insolvency.
We are authorised and regulated by the Financial Conduct Authority and are an AdviceUK member holding the Advice Quality Standard.
You can find out more at our website: https://www.moneyadvicehub.org.uk/home
Terms of Employment
- Based in King's Lynn & West Norfolk - main office King's Lynn
- Permanent Contract
- Full driving licence and own car required
- Working towards a professional, accredited Qualification
- 35 hours per week, includes one full day of designated study each week for 2 years
- Salary £16,380 p/a (+3% Employer Pension Contribution)
- Salary uplift when fully trained & qualified (18 months to 2 years), rising to £21,840 p/a,
- Performance based, discretionary pay rises after 1 year of service - minimum rate of inflation, capped at 3%)
- 30 days paid Holiday (includes bank holidays*)*Christmas Day & Boxing Day will be paid as extra if falling during the working week.
- One day paid birthday leave if falling during the working week.
- Career progression to Specialist Debt Adviser
- All training and training books/materials are provided by Money Advice Hub
- Empathetic to people in debt and those experiencing poverty
- Non-judgemental and promotes equality and diversity in life and in the workplace
- Minimum GCSE Maths - grade C and above
- Minimum GCSE English Language - grade C and above
- Qualified to A level, equivalent or above
- Excellent verbal and written communication skills
- Fully competent to embrace a range of IT systems to use email, type letters, telephony, record data and upload documents
- Must have a satisfactory Disclosure Barring Check
- Full Driving Licence
- Own Transport
- Willing to study and achieve a professional qualification
- An enthusiastic team player
- Ability to identify and meet important deadlines
- Ability to assimilate regulation and compliance processes
- Ability to remain discrete and sensitive to confidential personal and financial matters
- 2 satisfactory references, one must be current employer if employed
- An A level, equivalent or higher in one or more of the following subjects: English/Government & Politics/History/Law/Maths/Media Studies/Psychology/RE, Philosophy, Ethics/Sociology
- Experience in dealing with vulnerable persons, such as those with mental health problems
- A passion to champion disadvantaged residents in a community
- Experience working in a any financial setting, such as, banking, insurance, retail store cashier, accounts department
- A keen interest in social justice issues
- A flexible attitude to work and competing priorities
- Understanding of regulation and its importance in the workplace
This position includes a full training action plan, mentoring and one to one supervisory support to become fully competent in these key duties:
Duty 1 - Debt advice regulations - Perform day-to-day duties in accordance with the requirements covering all aspects of the Financial Conduct Authority's regulatory framework, guidance and Principles.
Duty 2 - Know your client - Validate clients’ identity and assess their Mental Capacity to make informed decisions at every touch point and respond accordingly. Where the client is represented by an advocate, validate they have the correct authority to act.
Duty 3 - Develop a budget - Gather and assess clients’ financial situation, relevant personal circumstances and foreseeable events to ensure the most suitable advice is provided.
Duty 4 - Make a recommendation - Provide professional, compliant and suitable debt advice - provide an accurate standard financial statement and reflective suitability statement.
Duty 5 - Evidence - Gather and analyse evidence to support the recommendation such as wage slips, credit reports, ID, debt letters.
Duty 6 - Financial capability - Provide both budgeting advice and income maximisation opportunities ranging from charitable grants, switching energy suppliers to benefit entitlements.
Duty 7 - Extra support - Assess whether other organisations are likely to assist the client (financially or otherwise) either through specialist guidance or direct support. Sign-post and make referrals as appropriate to organisations in the commercial, public and not-for-profit sectors. Identify the impact of vulnerabilities and provide extra support or signposting (as appropriate) in order to safeguard the client's best interests.
Duty 8 - Record keeping - Produce accurate and good quality record keeping to enable a consistent and smooth client journey.
Duty 9 - Expressions of dissatisfaction - Identify and respond to expressions of dissatisfaction and seek early resolution or escalation where required.
Duty 10 - Debts and assets - Set realistic expectations with clients in order to agree the next steps and prevent detriment. Clearly articulate any risks in terms of expected creditor behaviour, asset liquidation and enforcement action.
Competences to be acquired through the Training Programme
K1: How to verify and record client identity before providing debt advice, in accordance with both data protection (GDPR), Financial Conduct Authority (FCA) regulation and organisational procedures. Debt Advisers will know the procedures for working with formal and informal advocacy and the relevant consents and authority to act.
K2: How to recognise the signs of client vulnerability, and how to identify the likely impact that has on both the client's financial and general well-being. They must know how and when to sign-post the client to other forms of support. When to escalate an issue within their own organisation, or externally.
K3: How to establish their client's overall financial circumstances, impact of vulnerabilities, future aspirations, income, outgoings, and debts. How to identify key information likely to affect the client's overall financial situation and decision-making.
K4: The wide potential range of income and capital types such as wages, benefits and savings. How to collect, verify, calculate and manage data relating to the client's income in order to calculate gross, net and disposable income.
K5: Debt types including secured debts (for example mortgage debt), consumer credit debts (for example catalogue debt), priority debt arrear (such as utilities), and informal debts (for instance to friends and family). The Debt Adviser must know the recovery processes and rules for all these debt types. What makes a debt a fraudulent debt and know the procedures needed in these circumstances. The Debt Adviser will know and understand Industry expenditure guidelines.
K6: How to gain the necessary intelligence on the creditor & their typical behaviours, including the creditors normal stance and appetite for interest suppression, negotiation, debt waiver, and legal action.
K7: The range of both debt solutions and expenditure reduction options available, including the costs, benefits, and financial implications for the client. Income maximisation and the general options available such as employment opportunities and benefit entitlement.
K8: How to access and keep up to date with Financial Conduct Authority rules, guidance and principles relevant to the provision of debt advice / debt counselling.
K9: The ethical standards that the organisation and sector requires of Debt Advisers and the implications of these for the role i.e. Professionalism, honesty, Integrity.
K10: How to create, verify and record client information securely using an organisations IT system.
S1: Correctly identify the client and/or any client advocate by applying regulations and organisational procedures. Identifies the likely impact of vulnerabilities on the client's ability to manage their finances and general well-being.
S2: Creates a realistic financial statement and budget for the client by asking open and closed questions needed to illicit the full facts, including a root-cause analysis. (This will often be in sensitive or difficult circumstances for the client).
S3: Represent payment offers and client circumstances to creditors, adjusting the approach to help ensure the best outcome. Actively influences changes in client behaviour that is in the client's own best-interests, such as adopting life-style changes that will reduce outgoings.
S4: Identifies external stakeholders relevant to the client. Creates and maintains a network of stakeholders needed to expedite casework effectively and to conclusion.
S5: Recognises their own value within the team and the impact of their actions on others working in it. Collaborates and supports colleagues internally and stakeholders externally to achieve results whilst also being able to work independently. Builds and maintains positive relationships within their own organisation.
S6: Applies organisational quality standards in order to deliver effective outcomes within the risk, regulatory and governance requirements. Plans and prioritises activity accordingly to effectively manage competing work demands.
S7: Adapts the advice provided taking account of the client's history, including for instance previous advice given and whether this was heeded. Considers both their analysis of the evidence and application of the Regulatory Framework to what is most likely to work well, tailored to the individual client. Recommends a product, combination of products, or sign-points the client to other assistance as appropriate. Articulates to clients who do not wish to proceed with the given recommendation (some of whom may be insistent) why the debt solution recommended is the most appropriate. Take account of the client's own preferences, the term of debt relief and future changes to determine whether alternative solutions are appropriate.
S8: Communicates effectively with clients, colleagues, professional contacts and third parties using written and verbal communication. Offers a clear and full explanation. Uses suitable empathy with the client to enable a positive outcome.
S9: Recognise, monitor and respond to debt advice events (such as change in circumstances) that will trigger a new or updated assessment.
B1: Displays honesty & integrity in actions and approach to work and clients. Is ethical and non-judgmental and demonstrates the principle of utmost good faith. E.g. acts honestly when dealing with client queries, ensuring they are treated fairly whilst upholding brand values.
B2: Empathetic and un-bias approach to supporting clients. Show the necessary resilience and stand by difficult decisions.
B3: Takes responsibility for their own continuous professional development, and actively records development in their current role.
B4: Both hears and listens actively to what the client has to say. Has a probing, inquisitive approach to questioning. Provides assuring responses to help engage the client where needed.
B5: Supports the client to make their own informed financial and lifestyle decisions. Takes ownership for the client journey to an appropriate conclusion.
B6: Strives to resolve client concerns at the earliest opportunity. Receives and handles objections in a calm, professional manner.
SHORTLISTING TAKES PLACE ON 21 AUGUST 2020
INTERVIEW DATES TO BE CONFIRMED