The new level 3 certificate in financial services, life and pensions is aimed at early-career staff working for life, pensions and long term savings firms.

The Certificate in Financial Services' product-specific route has been renamed the Certificate in Regulated Financial Services Operations as of yesterday.

The three unit route offers "an ideal next-step for holders of the Award in Financial Administration or Certificate in Investment Operations, requiring completion of one further unit", officials said.

The CII said it was particularly suited to those involved in, or overseeing, the operational delivery of life, pensions or investment products, and those in other financial services support roles.

Steve Jenkins, director of financial markets at the CII, said: "This new route is designed to meet the professional development needs of early-career employees working for life and pensions organisations, providing a solid grounding in how the sector meets customer needs within the regulatory and consumer environment.

"This new pathway follows the introduction of the new CII level 2 Award in Life and Pensions Foundations in November last year, and aims to help support firms deliver high levels of customer service and offers a consistent and formalised approach to staff development following the introduction of pension freedoms.”

It also offers practical support to firms committing to the CII’s industry-led framework of professional standards, the 2016 Commitment Developed.

The CII’s qualification develops knowledge and understanding of key areas such as:

· The sector's role and its activities;
· Key customer needs, solutions and products;
· How individuals and organisations work within a regulatory and legislative environment.

Each unit within the qualification will be assessed by a multiple-choice exam, which can be taken at 40 centres throughout the UK.

Mr Jenkins added: "We are delighted that so many companies have been actively involved in the development of this."