FAQs - General

What is the Finuas Networks Programme “Finuas”?

Finuas is a state funded programme for developing enterprise-led learning networks within the international financial services sector. It aims to support the sector in maintaining Ireland’s position as a top international financial services centre by investing in further developing the specialist skills and expertise of its workforce. Finuas is a direct outcome of the Expert Group on Future Skills Needs report on the ‘Future Skills and Research Needs of the International Financial Services Industry’ published in 2007. Finuas is managed by Skillnets on behalf of the Department of Education and Skills. Finuas was established in 2009 and is funded from the National Training Fund.

Who are Skillnets and how are they involved?

Skillnets was established in 1999 by the Department of Enterprise, Trade and Employment to support private sector skills training and upskilling programmes. In May 2010 responsibility for the National Training Fund and Skillnets was transferred to the Department of Education and Skills. Skillnets is the managing agent for the Finuas programme. For further information on Skillnets and current Skillnet networks please see www.skillnets.ie.

What is a Finuas Learning Network?

A Finuas learning network is a group of companies within the international financial services sector working together to provide training for their collective staff. The networks are led by a voluntary steering group of representatives from network member companies. Each network has a network manager who operates under the guidance and direction of the steering group. He/she is responsible for the day to day management of the network, and to ensure that the network plan is implemented and the network achieves agreed key performance indicators. Each network can determine what training programmes are most needed and how, when and where training will be delivered. This approach ensures that training courses and learning activities are specifically tailored to industry needs by its practitioners and can be delivered in flexible and innovative ways. Finuas operates on a co-funding agreement between enterprise and State. To find the network that best meets your company's needs, please view the current Finuas networks, or view the Finuas courses that the networks provide.

What companies are eligible for Finuas funding?

Companies operating within the international financial services sector are eligible to participate in network activities and avail of Finuas funding. This sector is typically made up of three key areas:

  • Banking and capital markets
  • Investment management
  • Insurance

Companies that provide professional services to the sector are also eligible such as legal, tax, accounting as well as business and IT consultancy.

Participating companies must operate in the IFS sector and be wholly private sector businesses or commercial operations. Companies can be large, medium or small in scale. Eligible activities must be related to internationally traded financial services only. Companies can be members of one or more Finuas networks. See sector & industry profile.

What trainees are eligible?

Eligible trainees can either be:

  • Trainees in paid employment within the international financial services sector and based in the Republic of Ireland.
  • Job-seekers. Please see the Job-seekers section for further information.

 

How do I join a Finuas network?

Companies within the international financial services sector can join a Finuas network. To find the network that best meets your company's needs, please view the current Finuas networks. Companies can join one or more networks.

Why should my company join a Finuas network?

Companies benefit from participation in learning networks for a variety of reasons. Among them are the opportunities to:

  • Reduce costs by availing of market discounts through grant aided training
  • Achieve economies of scale, scope and spend
  • Enhance their competitiveness in both domestic and international markets
  • Avail of subsidised highly specialised training
  • Reduce uncertainty and improve staff morale through development and upskilling
  • Learn from others and absorb best practice
  • Raise the profile of the company
  • Jointly recognise and improve industry standards
  • Stimulate new business opportunities

Find a Finuas course.

What funding is available at the moment?

At present, there is no funding available to new networks. However, you can join a funded network or participate in training at any time. View the current Finuas networks.

I am a training provider, can I be on the Finuas list of approved training providers?

There is no recommended list of training providers for Finuas networks. Training providers can contact networks individually. Please click here to find the contact details of Finuas networks.

How are Finuas networks monitored?

Performance indicators reflect the returns to the range of stakeholders involved i.e. the international financial services industry, the State, individual companies, employees etc. Targets and performance indicators for these types of networks are established at the beginning of the process with outputs and impact being monitored and measured as the networks progress. Examples of quantitative indicators include:

  • Level of investment by the private sector/the international financial services industry
  • Returns on investment to industry, individual companies, and the economy
  • Number of companies participating
  • Number of people trained and number of training days delivered
  • Incidence of innovation
  • Number of new training modules developed or updated
  • Number of certified awards developed (e.g. certificate, diploma and degree programmes)
  • Network performance against the agreed network plan.

Finuas networks are required to adhere to Finuas Operating Guidelines and reporting requirements. Training and support is available to networks on implementing these requirements.

What is a contracting organisation?

Each network has a contracting organisation who acts as the contracting party with Skillnets and who receives and administers the funds from Skillnets on behalf of the network group. Contracting organisations can be:

  • Relevant industry and enterprise organisations
  • Industry associations, federations (i.e. employer organisations)
  • Trade unions (employee organisations)
  • Individual companies can also act as the contracting organisation on behalf of the network members
  • Network members can create companies (to which the network members are subscribers) in order to assume joint responsibility for the process

I am currently unemployed and have experience and/or qualifications in the financial services sector. Can I attend training courses run by the Finuas networks?

Please see the Job-seekers section for further information. There is no cost attached to the training for job-seekers and networks should be contacted directly to see what training courses are available. Please click here to find the contact details of Finuas networks or find a Finuas course.

Where can I get further information on the Finuas Programme?

For further information contact Dave Flynn, Finuas Programme Manager at info@finuas.ie or (01) 2079630.