| Frequently Asked Questions (FAQ’s) |
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Q If I am starting a new company and want to register it with BANKSETA, how do I classify my company?
A company needs to register using one of the following Standard Industrial Classification (SIC) codes that most closely resembles the company core business.
| 81110 |
Monetary Intermediation |
| 81121 |
Discount Houses And Commercial And Other Banking |
| 81122 |
Building Society Activities |
| 81900 |
Other Financial Intermediation Not Elsewhere Captured |
| 81910 |
Lease Financing |
| 83101 |
Securities Dealing |
| 83102 |
Activities Ancillary To Financial Mediation |
You need to advise the BANKSETA on the total number of employees within your organisation. This ill determine the internal classification of the company for BANKSETA support purposes.
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Q What is required of the company once they are registered with BANSKETA?
A A company will need to do the following:
- Appoint a skills development facilitator (SDF)
- Compile and submit a workplace skills plan (WSP)
- Compile and submit an implementation report
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Q How and when do I submit my reports?
A Mandatory grant reports must be submitted to BANKSETA on or before 30 June of each year. The reports can be submitted via the BANKSETA Seta Management System (SMS).
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Q What is the role of the SDF?
A The Skills Development Facilitator role is crucial in enabling the raising of skills levels within an organization. Also when organizations collectively raise their skills levels it contributes nationally to the overall global competitiveness of the country.
Functions to be performed by the skills development facilitator as per the table below:
| The role is informed by |
Operational Functions |
Strategic Roles |
- SDA Act
- SDA Act
- SAQA Act
- Financial Sector Charter (FSC)
- BEE Codes
- Company strategy and policies
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- Workplace Skills Planning
- Reporting: Feedback & WSP
- Monitoring implementation of workplace skills plan
- Monitor and report on Financial Sector Charter (FSC) progress pertaining to skills development
- Analysing skills development reports and making recommendations
- Provide support for organization’s accreditation requirements
- Advise on SETA grants and related tax rebates
- Develop policies & processes for skills development internally
- Provide support in skills development governance
- Implementation of learnerships where applicable
- Conduct internal workshops on understanding skills development and the NQF
- Contribute to systems development (MIS for skills development internally)
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- Participate in sector committees & forums
- Participate in EE forum interaction (internally)
- Develop learning & development strategy (internally)
- Be up to date with international benchmarks and trends
- Membership to professional bodies (non mandatory)
- Communications
- Skills audit
- Internal strategic relationships
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Q What training will allow the organisation to claim grants?
A Any and all training that a company sends their employees on is applicable. BANKSETA does not follow a prescriptive approach but rather a supportive one and would like to advise our constituent employers that we would prefer it if training booked was through an accredited training provider. We do understand that not all business specific training can be sourced via accredited providers so we do allow for you to claim back on training completed by a non-accredited training provider. However in this instance we would like to stress that you ensure that even if the provider is not accredited with a particular SETA that they at train using the outcomes based training approach and that their training material is linked to a specific NQF level.
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Q How do I claim back mandatory grants?
A In order to claim back your mandatory grant, you will need to compile and submit a workplace skills plan and an implementation report to BANKSETA on or before 30 June each year. If you are participating for the first year, you will only need to submit a workplace skills plan for your first year and a workplace skills plan and an implementation report in subsequent years.
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Q What are the BANKSETA priority skills?
A The Sector Skills Plan determined key skills priorities to be addressed to meet the skills needs of the sector..
The skills priorities identified in the banking sector are:
- Information and technology related skills development
- Management and leadership skills development
- Customer interface related skills development
- Specialist financial skills development
- Legislation implementation skills development
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Q Where can I get a copy of the scarce and critical skills list?
A You can obtain a list of scarce and critical skills for the banking sector on the BANKSETA skills development home page.
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