Continuing professional development in a financial services organisation: MAINTAINING A RECORD OF CPD ACTIVITY

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Continuing professional development in a financial services organisation: MAINTAINING A RECORD OF CPD ACTIVITY


Haistead stresses that recording CPD allows individuals to have a structure within which to work and to keep track of their learning. She argues further that ‘compiling a record enables you to capture the essential points that you need to retain

— a kind of mental desk-clearing process’. The responsibility for recording CPD in this sense rests with the individual and there are many ways of achieving this; the most popular is by means of a personal portfolio. The portfolio is a file of evidence and is a valuable source of personal reference.

Each adviser is required to record in a log his or her CPD activities during each month. In accordance with the scheme requirements the records that are normally kept in the individual CPD logs include:

— date the activity took place
— subject/content
— learning points
— hours undertaken

Logs are kept on file for monitoring purposes and show what CPD has been undertaken. This is used not only to track development but also to demonstrate that PIA requirements have been met. Each adviser holds a Record of Achievement file for holding CPD logs and other evidence of CPD activities undertaken. In addition, this file includes a number of other related items such as annual reviews and notes of meetings between the adviser and their supervisor.

Each month the logs are checked and the activities approved as relevant by a supervisor and submitted to the training officer for input onto a ‘CPD tracker’. The training and development team are responsible for maintaining the tracker, which is a mechanism for producing a summary of the hours related to CPD for each IFA and the PIA category into which these activities fall. However, this system, while meeting the requirements of the PIA, has limited opportunity to record the full range of activities in a way that shows which method was most suitable.

The Chartered Institute of Personnel and Development (CIPD) provides a good example of the type of information that can be supplied while providing valuable additional information related to learning style and the learning cycle. Each stage of the learning cycle is covered and it encourages individuals to identify and use all the learning styles, as is shown in Figure

1. Following this format ensures that learning is relevant, can be effectively planned and may be regulated as continuous. This model encourages the formation of a more straightforward link to business goals, resulting in a better- informed strategic process. It also aids clarification for the individual and organisation on how learning needs were identified and how the activity supported improvements in individual performance, thereby meeting the need. Maintenance of a complete record is essential if development activities are to be effectively evaluated and linked to an overall improvement in business performance.

There can, however, be problems when record-keeping is viewed ‘as a chore’, but there are clear benefits to be gained. A survey undertaken in two branches of the Institute of Personnel and Development by Murphy identified respondents who felt record-keeping helped them to:

— feel professional and able to demonstrate their professionalism to others
— track progress towards identified goals
— gain more from training and day-to¬day work. They were focused more on what they did and why, making work more interesting
— develop personal and professional confidence that enhanced their career prospects and made change less threatening
— prepare more easily for appraisal and job applications, because they had a concise record of their projects, achievement, training and development
— know where they wanted to develop next.

These findings are generally consistent with the views expressed by the survey respondents.

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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