Assessing Trading Diploma Program: Communication, Staffing, & Student Support Quality, Lecture notes of Business

Download Assessing Trading Diploma Program: Communication, Staffing, & Student Support Quality and more Lecture notes Business in PDF only on Docsity! Page 1 of 16 BRITISH ACCREDITATION COUNCIL INSPECTION REPORT ORGANISATION: London Academy of Trading ADDRESS: 5th Floor Sceptre Court 40 Tower Hill London EC3N 4DX HEAD OF ORGANISATION: Mr Duncan Donald DATE OF INSPECTION: 17-18 July 2017 ACCREDITATION STATUS AT INSPECTION: Unaccredited DECISION ON ACCREDITATION: Accreditation awarded for the full four-year period. Decision on accreditation deferred. Award of accreditation refused. Date: 25 August 2017 Short Course Provider (SCP) Full Inspection Page 2 of 16 PART A - INTRODUCTION 1. Background to the organisation The London Academy of Trading (LAT) was established in 2010 with the aim of providing training for traders in financial markets. The first cohort of students began in February 2011. It is a private limited company, which is located on the fifth floor of an office block in the City of London, overlooking the Tower of London. In 2014, the Global University Systems Group (GUS), which owns a range of academic institutions and training organisations globally, bought a majority shareholding in LAT. This positioning, within a much larger organisation, provides LAT with access to a number of important corporate processes and resources. These include human resources, Information Technology (IT), logistics, quality assurance and finance. The senior leadership of LAT consists of the Chief Executive Officer (CEO), the Academic Dean and the Director. The CEO of LAT reports to the Director and to a GUS director. 2. Brief description of the current provision LAT delivers a 12 week Level 5 Diploma in Applied Financial Trading, which is accredited by the Association of Business Executives (ABE). It has monthly intakes of students. Students can attend full-time in classes, can study remotely or can undertake a combination of classroom based learning with remote learning. The teaching includes three webinars a day, which provide up-to-date analysis and interpretation of the trends in financial markets. At the time of the inspection, 79 participants were studying with LAT. Three of the participants were doing a one month practical trading course. The rest were on either the first, second or third month of the 12 week diploma programme. All participants were resident in the United Kingdom (UK) and one was under the age of 18. The vast majority of the participants were male. 3. Inspection process The inspection was carried out by one inspector over two days. The inspection included scrutinising documentation. Meetings were held with participants from the courses, the trainers and mentors, support staff and managers. The inspection also included a tour of the training venue and offices, which include a 36 desk trading floor. The observation of teaching and learning including observing a webinar. All the staff cooperated very well with the inspection and the information required was clearly presented. Page 5 of 16 6. 6.1 6.2 6.3 There is an appropriate policy on participant attendance and effective procedures and systems to enforce it There is a clear and published policy on participant attendance and punctuality. Accurate and secure records of attendance and punctuality at each session are kept for all participants, collated centrally and reviewed. Participant absences are followed up promptly and appropriate action taken. This standard is judged to be: Comments NoYes NoYes Partially MetMet Not Met NoYes NA LAT encourages 100 per cent attendance but a minimum of 80 per cent is required. Attendance is monitored appropriately and electronic records of attendance are maintained. As a result, attendance rates are very high. 7. 7.1 7.2 7.3 7.4 The provider regularly obtains and records feedback from participants and other stakeholders and takes appropriate action where necessary The provider has effective mechanisms for obtaining feedback from participants and other stakeholders (such as staff, partner providers and employers) on all aspects of the provider's provision, including formal participant representation where appropriate. Feedback is obtained, recorded and analysed on a regular basis. The feedback is reviewed by management and action is taken where necessary. There is a mechanism for reporting on the provider's response to the feedback to the participant body. This standard is judged to be: Comments NoYes NoYes NoYes NoYes Partially MetMet Not Met LAT uses an external and independent on-line facility to gather participant feedback at the end of the course. This ensures the impartiality of the feedback. LAT responds promptly to the feedback received. Page 6 of 16 8. 8.1 8.2 8.3 The provider has effective systems to review its own standards and assess its own performance with a view to continuing improvement There are effective systems for monitoring and periodically reviewing all aspects of the provider’s performance. Reports are compiled which present the results of the provider’s reviews and incorporate action plans. Action plans are implemented and regularly reviewed. This standard is judged to be: Comments NoYes NoYes NoYes Partially MetMet Not Met LAT reviews its financial performance well and produces reports related to this aspect of the business. The staff monitor the progress of the participants and keep appropriate records, which indicate high success rates. They do not monitor the success of participant cohorts over time in order to assess whether there has been any improvement or decline from cohort to cohort and, if so, why. Participant feedback is monitored carefully through an outside agency. Appropriate actions are taken as required, as a result of these reviews. INSPECTION AREA - TEACHING, LEARNING AND ASSESSMENT 9. 9.1 9.2 9.3 9.4 Programme management is effective There is a suitably qualified and experienced programme manager or management team with responsibility for teaching, learning and assessment and the management of the body of trainers. Classes are timetabled and rooms allocated appropriately for the courses offered. The allocation of trainers to classes provides for a consistent learning experience and delivery is monitored to ensure consistency. There is an appropriate policy and effective procedures for the acquisition of teaching and learning resources. This standard is judged to be: Comments NoYes NA NoYes NA NoYes NA NoYes NA Partially MetMet Not Met Programme management is effective. Participants benefit from a well structured training programme and access to high quality trainers and trading floor mentors. The good quality training materials are developed in-house. Page 7 of 16 10. 10.1 10.2 10.3 10.4 The courses are planned and delivered in ways that enable participants to succeed Courses are designed and delivered in ways that allow participants to develop the knowledge and skills which will be required for final examinations or assessments or which meet stakeholders' requirements. Lessons and assessments maintain an appropriate focus on any assessment objectives or statement of learning outcomes established by the awarding body. Formative assessments appropriately reflect the nature and standards of summative examinations. Participants are encouraged and enabled to develop independent learning skills. This standard is judged to be: Comments 10.5 The academic backgrounds and particular needs of participants are taken into account in the classroom delivery of the course. NoYes NoYes NoYes NA NoYes NA NoYes NA Partially MetMet Not Met NA The courses are delivered using an effective blend of academic content, both face-to-face and on-line, combined with mentoring. Participants also have considerable opportunities to trade and apply the risk management strategies they have covered. As a result, LAT provides a very good learning environment and students achieve high pass rates and develop effective trading skills. The three daily webinars support the teaching and learning very effectively. They provide timely and relevant analysis and interpretation of trends in financial markets. 11. 11.1 11.2 11.3 11.4 11.5 Trainers are suitable for the courses to which they are allocated and effective in delivering them Trainers are appropriately qualified and experienced. Trainers have a level of subject knowledge, pedagogic and communicative skill which allows them to deliver the content of courses effectively. The appraisal procedures for trainers incorporate regular classroom observation. Trainers are supported in their continuing professional development and enabled to develop further pedagogic techniques to enhance the learning of participants. Trainers respond to different learning needs of participants where appropriate, taking various learning styles into account in their planning and delivery of lessons. This standard is judged to be: Comments 11.6 Trainers employ effective strategies to involve all participants in active participation and to check their understanding of concepts and course content. NoYes NoYes NoYes NoYes Partially MetMet Not Met NoYes NoYes The trainers and mentors are also traders. Therefore, they are continually practising their trade and are able to keep up-to- date with trends in the markets and refine their trading skills. Participants report that they find the support of trainers and mentors particularly helpful and highly value their input. Page 10 of 16 INSPECTION AREA - PARTICIPANT WELFARE 17. 17.1 17.2 17.3 17.4 17.5 Participants receive pastoral support appropriate to their age, background and circumstances There is at least one named staff member responsible for participant welfare who is suitably trained, accessible to all participants and available to provide advice. Participants receive appropriate advice before the start of the programme. Participants receive an appropriate induction and relevant information at the start of the programme. Participants are issued with a contact number for out-of-hours and emergency support. The provider has policies in place to avoid discrimination and a published procedure for dealing with any abusive behaviour. This standard is judged to be: Comments NoYes NoYes NoYes NoYes NoYes NA Partially MetMet Not Met NA 17.6 Effective safeguarding arrangements are in place and are regularly reviewed to keep all participants safe. NoYes 17.7 Effective arrangements are in place to protect participants from the risks associated with radicalisation and extremism. NoYes NA Students are well supported by the staff. A trained support officer is available as and when required. A detailed practice handbook, which contains useful advice for staff in terms of meeting the needs of students, includes signposting information to access additional support such as external counselling. Appropriate safeguarding arrangements are in place and relevant staff have undergone Disclosure and Barring Service (DBS) checks. Appropriate policies and procedures are in place and all staff have been trained to protect participants from the risks associated with radicalisation and extremism. 18. 18.1 18.2 18.3 18.4 International participants are provided with specific advice and assistance International participants receive appropriate advice before their arrival on travelling to and staying in the UK. International participants receive an appropriate induction upon arrival covering issues specific to the local area. Information and advice specific to international participants continues to be available throughout the course of study. Provision of support takes into account cultural and religious considerations. Where possible, participants have access to speakers of their own first language. This standard is judged to be: Comments NoYes NoYes NoYes NoYes Partially MetMet Not Met NA Page 11 of 16 19. 19.1 19.2 The fair treatment of participants is ensured Participants apply for and are enrolled on courses under fair and transparent contractual terms and conditions. Participants have access to a fair complaints procedure of which they are informed in writing at the start of the course. This standard is judged to be: Comments NoYes NoYes Partially MetMet Not Met Students are are enrolled on courses under fair and transparent terms. They have access to an appropriate complaints procedure. 20. 20.1 20.2 20.3 20.4 20.5 Where residential accommodation is offered, it is fit for purpose, well maintained and appropriately supervised Any residential accommodation is clean, safe and of a standard which is adequate to the needs of participants. Any residential accommodation is open to inspection by the appropriate authorities, including Ofsted where participants under 18 are accommodated. Clear rules and fire, health and safety procedures are in place, with appropriate precautions taken for security of participants and their property. A level of supervision is provided appropriate to the needs of participants. Separate accommodation blocks are provided for participants under 18. This standard is judged to be: Comments NoYes NoYes NoYes NoYes NA NoYes NA Partially MetMet Not Met NA Page 12 of 16 21. 21.1 21.2 21.3 21.4 21.5 Where home-stay accommodation is organised, the welfare of participants is ensured and the provider's relationship with hosts is properly managed Due care is taken in selecting home-stay accommodation which both provides a safe and comfortable living environment for participants and is appropriately located for travel to the provider and back. Any home-stay accommodation is inspected before participants are placed and is subject to regular re-inspection by a responsible representative or agent of the provider. The provider has appropriate contracts in place with any hosts, clearly setting out the rules, terms and conditions of the provision. Appropriate advice and support is given to both hosts and participants before and during the placement. Clear monitoring procedures are in place with opportunities for participant feedback and prompt action taken in the event of problems. This standard is judged to be: Comments NoYes NoYes NoYes NoYes NoYes Partially MetMet Not Met NA 22. 22.1 22.2 22.3 22.4 The provider provides an appropriate social programme for participants and information on leisure activities in the area Participants are provided with appropriate information on opportunities for participation at events and other leisure activities which may be of interest. The social programme is responsive to the needs and wishes of participants. Any activities within the social programme have been chosen with consideration for their affordability by the majority of participants. Any activities organised by the provider are supervised by a responsible representative with suitable qualifications and experience. This standard is judged to be: Comments NoYes NoYes NoYes NoYes Partially MetMet Not Met NA NA NA NA Page 15 of 16 PART C - SUMMARY OF STRENGTHS AND ACTION POINTS Numbering of action points aligns with that of the minimum standards MANAGEMENT, STAFFING AND ADMINISTRATION Provider's strengths LAT is well managed and efficiently run by very experienced and well qualified staff. Actions required Priority H/M/L 3.3 The Provider must implement the recently established appraisal procedures for staff. High Medium Low Provider's strengths TEACHING, LEARNING AND ASSESSMENT The courses are very well structured and provide a flexible blend of academic teaching, on-line support, mentoring and practical trading experience, which effectively develops appropriate trading skills. Success rates are very high on the diploma course. Teaching and mentoring are of a very high standard and are provided by experienced and well qualified staff. Actions required Priority H/M/L None High Medium Low Provider's strengths PARTICIPANT WELFARE Trainers and mentors provide very good support for students. Actions required Priority H/M/L None High Medium Low PREMISES AND FACILITIES Provider's strengths Students benefit from access to a well-equipped professional trading floor, within which they can develop their trading skills. Actions required Priority H/M/L 24.8 The Provider must improve the air conditioning arrangements for the trading floor. High Medium Low RECOMMENDED AREAS FOR QUALITY IMPROVEMENT The Provider is recommended to improve its systems for reviewing its academic performance by monitoring the success of participant cohorts over time in order to assess whether there has been any improvement or decline from cohort to cohort and, if so, why. Page 16 of 16 COMPLIANCE WITH STATUTORY REQUIREMENTS