Walbrook Institute London Limited

The London Institute of Banking & Finance Monitoring visit report

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Name of lead inspector: Steve Lambert, His Majesty’s Inspector

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Inspection dates: 26 and 27 October 2022

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Type of provider: Higher education institution

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Address:

Peninsular House 36 Monument Street London EC3R 8LJ Monitoring visit: London Institute of Banking and Finance, 26 and 27 October 2022

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Context and focus of visit

From October 2018, Ofsted undertook to carry out monitoring visits to all newly directly funded providers of apprenticeship training provision which began to be funded from April 2017 or after by the Education and Skills Funding Agency and/or the apprenticeship levy. This monitoring visit was undertaken as part of those arrangements and as outlined in the ‘Further education and skills inspection handbook’, especially the sections entitled ‘Monitoring visits’ and ‘Monitoring visits to providers that are newly directly publicly funded’. The focus of these visits is on the themes set out below.

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Context and focus of visit

The London Institute of Banking & Finance (LIBF) was established in 1879 and is a higher education provider based in the City of London. LIBF offers a range of degree programmes. Since 2018, LIBF has had a direct contract to teach apprenticeships.

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Context and focus of visit

At the time of the monitoring visit, LIBF had 52 apprentices across the country. Apprentices were studying the level 6 Relationship Manager (Banking) or the level 6 Financial Services Professional apprenticeship standard. All of them were employed in banking or financial institutions.

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Reasonable progress

Leaders and managers have developed an apprenticeship offer that aligns well with the provider’s specialism in banking and finance. The programmes offered help to address the skills needs of these sectors.

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Reasonable progress

Leaders and managers have developed highly effective partnerships with some of the sector’s largest financial institutions. They recognise that within different types of organisations, there is an increasing need for individuals who have detailed knowledge of banking and finance. As a result, they have developed programmes that are responsive to employers’ needs, and that help individuals to progress into more senior roles within their organisation.

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Reasonable progress

Leaders have effective arrangements in place to ensure that the requirements of an apprenticeship are met. For example, they ensure that there is a thorough onboarding process in place for apprentices and their employers. They provide detailed information to employers on all aspects of their apprenticeships, including final assessments and off-the-job training. Monitoring visit: London Institute of Banking and Finance, 26 and 27 October 2022 Leaders have put in place suitable quality assurance processes to identify their provision’s strengths and weaknesses. They have effective governance arrangements in place to support leaders with oversight of the provision. Leaders have introduced suitable processes, that allow staff to record and monitor the progress that apprentices make. However, leaders and managers do not always check the quality of completed records, such as how well staff complete progress

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Reasonable progress

review documents. As a result, leaders and managers do not have a good enough understanding of whether their quality assurance processes are helping to improve the apprentices’ experience.

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Reasonable progress

Leaders and managers undertake assessments of the quality of teaching but do not always focus sufficiently on evaluating what apprentices have learned. When they identify an area for improvement, they do not always follow up to ensure that lecturers take suitable actions to improve.

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Reasonable progress

Staff work closely with employers to ensure that apprentices’ job roles are suitable for their apprenticeship programme. Apprentices work in a variety of banking or financial services related roles that enable them to develop substantial new knowledge, skills and behaviours relevant to the sectors in which they work. Apprentices value the benefits their apprenticeship programme brings them, particularly where they rotate through different departments in order to get a broader experience.

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Reasonable progress

Apprentices benefit from the substantial expertise of their lecturers, who teach them up-to-date and detailed knowledge that prepares them well for work. Apprentices’ confidence grows during their training, in particular when applying their knowledge in the workplace. For those apprentices who are unsure which area of finance they wish to work in, the apprenticeship programme helps them to make an informed choice as to their career options. The majority of lecturers continue to work within the banking and finance sector.

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Reasonable progress

Staff recognise the experience that some apprentices have at the start of the course. They adapt their programme to ensure that they learn relevant new knowledge and skills. For example, staff place apprentices who have experience within the sector on a shorter programme leading to Chartered Associateship, rather than the full degree.

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Reasonable progress

Lecturers make effective use of a range of assessment techniques to help apprentices learn more. However, in a minority of instances, lecturers’ feedback on apprentices’ written work does not provide sufficient helpful information on areas for improvement. Consequently, apprentices are not always clear about what they need to do to improve their work. Monitoring visit: London Institute of Banking and Finance, 26 and 27 October 2022 Staff carry out frequent reviews of apprentices’ progress, which are well attended by the apprentice and their employer. However, they do not record sufficiently well the development of apprentices’ specific knowledge, skills and behaviours. They often set targets that focus on completing assignments rather than highlighting the knowledge and skills that apprentices need to develop.

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Reasonable progress

Leaders and managers have put in place robust management structures and policies for the effective safeguarding of apprentices. They liaise suitably with different networks and local agencies so that they are informed about the local risks that apprentices face. They ensure that apprentices are told how to manage these risks through training, such as the risk of coercion while working in banks and financial institutions.

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Reasonable progress

Leaders ensure that apprentices have access to appropriate resources and support for their safety and well-being. They have trained mental health first aiders available at their campuses. Apprentices also have 24-hour access to a counsellor through the student services team.

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Reasonable progress

Apprentices feel safe and know how to report their concerns. They complete training on safeguarding topics, such as the ‘Prevent’ duty and online safety, at the start of their programme. However, staff do not revisit these topics in sufficient detail in reviews. Consequently, apprentices do not have a detailed enough understanding of how these topics relate to their lives and work. Monitoring visit: London Institute of Banking and Finance, 26 and 27 October 2022 regulates and inspects to achieve excellence in the care of children and young people, and in education and skills for learners of all ages. It regulates and inspects childcare and children’s social care, and inspects the Children and Family Court Advisory and Support Service (Cafcass), schools, colleges, initial teacher training, further education and skills, adult and community learning, and education and training in prisons and other secure establishments. It assesses council

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Reasonable progress

children’s services, and inspects services for children looked after, safeguarding and child protection.

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Reasonable progress

If you would like a copy of this document in a different format, such as large print or Braille, please telephone 0300 123 1231, or email enquiries@ofsted.gov.uk .

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T: 0300 123 1231 Textphone: 0161 618 8524 E: enquiries@ofsted.gov.uk W: www.gov.uk/ofsted

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