Funding the Global Central Banking & Financial Regulation qualifications For the Change Makers
Designed for finance industry professionals across the world
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Why study the Global Central Banking and Financial Regulation qualifications?
Preparing a case for sponsorship
The Global Central Banking & Financial Regulation qualifications are a significant investment for you and your employer, both in financial terms and in the time needed to devote to study. Whether you are interested in pursuing a single Postgraduate Award, the Postgraduate Certificate or Diploma, or the full MSc programme, this document has been designed to help you negotiate support from your employer. This is likely to be in three areas: ■ Financial help to pay your tuition fees and other expenses ■ Giving you enough time to study at home ■ The opportunity to apply your learning in the workplace.
Are you looking to earn a formal accreditation to demonstrate your knowledge, gain insight or change focus into central banking or financial regulation?
Relevance & commitment Before you approach your employer, we recommend you spend some time researching: ■ Is this programme relevant to your career and future aspirations? ■ Have you considered the best time for you to undertake further study? ■ Will the programme you are considering interfere with your commitment to work, for example business travel commitments or study time allowance, or personal commitments? ■ Is there likely to be any conflict between the programme and company events (e.g. clashes between programme dates, timed assessments, financial year end, seasonal business activities)? ■ Will you have access to company ■ Is there a history of sponsorship in your organisation, and does the company have a preferred provider? ■ Who is your potential sponsor and what are their views on professional development? How much work will you need to do to convince them? ■ Have you considered other career development routes such as industry- specific qualifications (for example, zzACA or Institute of Banking)? Could your immediate needs be met by a short course or in-house training scheme? You may need to justify your course. information for assessments? Could this be a sensitive issue? The environment
Which school? ■ It helps if you have evaluated development opportunities from both your own and your employer’s perspective ■ What were the results of your research? Where else have you considered? Can you cite the advantages and disadvantages of different schools and programmes? ■ How much do you know about the school’s strengths (research, subject strengths, faculty and so on)? ■ Have you considered the reputation of the school and its programmes? Do you have the latest information on accreditations and rankings? ■ It might be useful canvassing the opinions of other people in your company who’ve undertaken an online programme. The investment & costs ■ Have you done a cost benefit analysis of full-time versus part-time study? ■ Have you collected the comparative costs of programmes at other institutions? ■ Do you have details of what is included in the fees? Are there any extras? ■ Are there any add-on costs associated with the programme (e.g. course materials)?
Why me? Before you start preparing your sponsorship proposal consider the following: ■ Are you a worthwhile investment? Can you demonstrate this with an up to date CV? ■ Have you solicited departmental or company-wide support? It helps if the proposal has come via appraisal, your line manager/director or a company mentor ■ Consider what expectations your sponsor might have and what benefits might be attractive to those who can influence the decision on your request for sponsorship ■ Remember that from any programme, they are likely to want to see a balance between theory and practice, a gain for both the individual and the organisation, and both short-term and long-term value added ■ Present a range of short-term and long-term benefits linked to current business activity. There are advantages to be gained from your involvement in the programme and your association with other participants. There are also possible gains from links with Warwick Business School and access to the wider University and its professional networks ■ Consider making proposals as to how you will transfer your new knowledge to colleagues and the organisation ■ How will the programme aid your professional development?
Making your proposal ■ Is there a procedure for requesting funding? Consult with your HR department or line manager ■ If possible, gain in-principle support from your manager in line with strategic business unit criteria ■ A business plan may be required as part of the procedure for funding, or you may wish to submit one unsolicited to demonstrate the seriousness of your proposal ■ Check if you need to use your company’s ‘house style’ and what length of proposal would be acceptable. The negotiations Prepare your case well before you open negotiations and be sure of your minimum negotiating stance: ■ Are you only prepared to accept sponsorship if it includes all academic fees, expenses plus generous study time and provision of computing facilities? ■ What will you do if none of these are forthcoming? Could you consider asking your company to fund an individual Postgraduate Award instead of a higher qualification level? This may help your company see the value in the programme which can be evaluated, leading to the funding of further Postgraduate Awards, building up to a higher qualification level. ■ The question of ‘golden handcuffs’ may come up so you need to have your answer prepared; most employers will expect you to agree to some sort of lock-in period post-graduation. You should bear in mind that it is not clear whether these are enforceable in law, but also that if you move to a new employer, part of your initial negotiations could include them buying you out of the lock-in by paying the forfeiture costs; after all, they will then be reaping the benefit of your knowledge.
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Your business plan
Your business plan needs to be clearly set out and well presented. It should be focused and tailored to sell your abilities and the advantages for your organisation, as well as dealing convincingly with the pros and cons of your choice of school and method of study. Review your plan from your sponsor’s viewpoint and, if appropriate, prepare it in your organisation’s house-style. We suggest you include:
An executive summary ■ Your choice of school and the
Proposed business school and programme of study
The rewards for the company A description of the benefits in the short and long term. These may include: ■ Increased retention – you are more likely to stay with them ■ Increased motivation ■ Better ‘on the job’ performance; you will be more effective at work, generating new ideas to resolve business issues. You will also bring back to your organisation many proven tools, ideas and best practice, as well as be able to apply your new knowledge with a greater awareness of the wider business environment ■ Your new ideas and fresh-thinking can make an immediate and positive impact on the organisation. Just one innovative idea could pay for the entire programme ■ This programme offers the opportunity to study a particular area of relevance to your role with the option to continue on to gain further expertise ■ Your expanded networking opportunities with like-minded individuals will not only be of benefit to you but to your employer as well. Also consider preparing counter-arguments for any risks associated with the sponsorship that your organisation may raise.
The financial & time implications ■ Fees for the different qualification levels, including payment dates ■ Timetable of the programme ■ We would recommend that you produce a schedule of anticipated costs and make sure you know who will be responsible for what. Development You may want to include suggestions on how you would envisage making the most of your new knowledge and skills, especially in subject areas which are outside of your usual role and sphere of influence. This might include: ■ Being allowed access to other areas in the organisation, both to help your study but also to help knowledge transfer ■ Taking on enhanced responsibilities ■ Being mentored by a senior colleague ■ Discussion of your career prospects upon completion of the programme. The timescale ■ The date by which you would like/need a decision ■ The start date of the programme and other relevant dates.
type of programme you want to do, emphasising elements which may appeal to your employer
Your employer will want proof that they are buying into a really good quality programme, so you may want to include a comparative table with criteria such as: ■ Reputation, facilities, flexibility, student contact and participation, faculty (size, research, consultancy activities), programme content, rankings and costs. Why Warwick specifically? ■ International faculty – leaders in research and teaching, highly regarded consultants to businesses ■ A programme that is delivered in collaboration with the Bank of England Outline the benefits of the Global Central Banking & Financial Regulation qualifications for you ■ Self-development ■ Broadens your technical skills and provides a wide knowledge of a range of different tools, models and work practices ■ You will be able to apply theory to your day-to-day work and reflect upon the practicalities of the real world ■ Evidence of your professional learning while gaining new skills and insights through cutting-edge research and the latest thought-leadership ■ Being part of a global cohort, allowing you to develop your professional network and understand different cultures and work practices.
■ The cost to the company in terms of fees and/or time, as well as your contribution in terms of time and effort ■ The scope for return on the company’s investment – highlight how the company will benefit from your participation. Background ■ The relevance of the Global Central Banking & Financial Regulation qualifications in the current economic environment for you, your department, the company and the sector. For example, your current personal and professional development needs, the business unit’s circumstances and the specific needs of the unit and the company ■ The value of the programme to current and future needs of the company (e.g. growth/downsizing, change, competition, internationalisation) ■ Identify the objectives to be achieved; you may want to include information here about the sort of role that you envisage having within the company once you have completed the programme, or outline some ways in which you think the company could make the most of your new skills and knowledge.
Suggested appendices in support of the plan ■ Your CV ■ wbs.ac.uk/go/banking ■ Other relevant information about Warwick Business School
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Additional help and advice
Key programme information ■ Taught entirely online ■ Study part-time ■ The ability to pick and choose individual modules relevant to your role or to increase the breadth of your knowledge by completing a full MSc qualification. Talk to us For additional help and advice, please contact the Recruitment Team: +44 (0)24 7652 4100 You can email us at any time onlinemasters-info@wbs.ac.uk T E
Apply to us Applications must be made online. Please visit wbs.ac.uk/go/bankingapply Once your application is submitted, you will have a named Assistant Business Development and Recruitment Manager who will manage your application and be your first point of contact. Interact with us facebook.com/warwickbschool @warwickbschool wbs.ac.uk/go/joinus W
Essential Information This document was accurate at the time of printing. Given the long interval between drafting/publication and enrolment, some of the information may change. It is therefore very important that you check our website for any updates wbs.ac.uk/go/banking W Where there is a difference between the contents of this document and our website, the contents of the website take precedence and represent the basis on which we intend to deliver our services to you. Any offer of a place to study at the University is subject to terms and conditions, which can be found on our website and you are advised to read before making an application warwick.ac.uk/pgtermsandconditions W The terms and conditions set out when, for example, we might make changes to your chosen course, to the fees payable or to student regulations. It is therefore important you read and take note of them. Information about wider student rights and responsibilities can be found at warwick.ac.uk/services/aro /studentrights W
Equal Opportunities At Warwick we are committed to equality of opportunity, as stated in our Equal Opportunity Policy. We welcome applications from anyone with the potential to succeed in higher education. The University aims to avoid unfair discrimination on whatever grounds, including gender and ethnic background. The Students’ Union Under the requirements of the Education Act 1984 Part 2, the University is obliged to inform students of their right not to be members of the Students’ Union. The University is satisfied that the provision of services or facilities made by the University and the Union for all students, whether they are members of the Union or not, is sufficient to ensure that those who have exercised the right of non-membership under the act are not unfairly disadvantaged; it has therefore made no special arrangements for the provision of services or facilities for non-members of the Union.
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Curiosity Learning as a way of life
Openness Cosmopolitan mindset, embracing diversity and different perspectives
Our CORE values
Excellence Never compromising our high standards
Restlessness Always challenging convention to find a better way
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wbs.ac.uk/go/banking +44 (0)24 7652 4100 onlinemasters-info@wbs.ac.uk
Find out more about us Visit our website for the latest information on our courses, fees and scholarship opportunities, as well as our latest news, events, and to hear from former and current students what life is really like here at WBS. We’re always happy to talk through any queries you might have.
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WBS believes this document is accurate, but accepts no liability for errors or later changes. See our website for the latest information. 05/2023
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