Looking to commission an independent evaluator for the project.
Invitation to Tender
Project Evaluator: Financial Capability for Young People in Transition, London, UK
1. Introduction to the National Skills Academy for Financial Services
The National Skills Academy for Financial Services (“the Skills Academy”) is an employer-led charity working with the UK Financial Services Industry.
The mission of the Skills Academy is:
- To help people, particularly from disadvantaged communities, to secure employment in the financial services sector.
- To contribute to the improvement of the diversity of the workforce in the financial services sector.
- To support skills development in the financial services sector.
- To improve the financial capability of the wider UK population.
2. Project Overview
The project aims to improve the financial capability of young people aged 16-24 at key transition points, such as starting work or living independently, through the creation of learning resources for use by young people and the delivery of accredited training for the youth practitioners that support them.
Youth practitioners are those who work with or support young people in transitional life stages including:
- Independent living
- Further and higher education; and
The project will comprise the following key activities:
- Development of course and training materials for a new qualification aimed at enabling youth practitioners to learn how to improve the financial capability of 16-24 year olds.
- Development of resources for youth practitioners to use with the 16-24 year olds they work or support.
- Delivery of financial capability training to 200 youth practitioners using the new qualification’s course materials.
The qualification’s content will be co-developed by the Skills Academy, youth practitioners and young people aged 16-24 through focus groups and will be accredited by the Open College Network (OCN). It
will include the following topics: banking; saving debt, paying bills and loans, workplace pensions, payslips; tax and Universal Credit.
3. Project Evaluation
The Youth Transition project aims to test the following research question: ‘To what extent do financial capability resources and accredited training for youth practitioners, cocreated with young adults and youth practitioners, help support young people to manage their finances and make effective financial decisions at key transition points, such as starting work or living independently?’
The purpose of the project evaluation is to explore how the youth practitioners have used their training and qualification to support the young people they work with and to measure the impact this has had on
helping the young people to manage their finances and make effective financial decisions at key transition points.