Apprenticeships start-up Multiverse has partnered with C. Hoare & Co. to create apprenticeship jobs for talented young people from a diverse range of backgrounds, and open a new route to a career in financial services.
It comes as new research from Multiverse found that 59% of senior managers within financial services thought recruiting diverse talent was a challenge, while 85% of those who have worked with an apprentice recommend hiring an apprentice to a colleague.
Multiverse provides high-quality apprenticeship programmes that combine work, training and community.
C. Hoare & Co. is the UK's oldest privately-owned bank, and apprentices will work across the business, including in operations, fraud management, and technical roles. Apprentices at C. Hoare & Co. will receive training in data and digital skills - with 10 enrolled on Multiverse’s programmes including the Digital Business Accelerator, the Data Fellowship, and the Software Engineering apprenticeship.
The Digital Business Accelerator programme will ensure all new colleagues receive formal training in the core skills necessary to thrive in a digital business world, combining world-class content and one to one coaching in areas like project management, problem solving and communication.
Meanwhile, the Advanced Data Fellowship - a degree-level programme - will empower apprentices to develop their skills in data analysis and data science. Apprentices will build core capabilities in areas like statistical testing, data ethics, predictive modelling and data security.
Chris Loake, Chief Technology & Operations Officer of C. Hoare & Co. said: “I'm really excited to bring in a cohort of apprentices through an initiative that aligns with our values. C. Hoare & Co. is committed to doing the right thing, being both good bankers and good citizens. We're focused on building agile teams that have all the skills needed to be outcome driven.
“We’re excited to launch a cohort of 10 apprentices from a diverse range of backgrounds, across the Digital Business Accelerator, Software Engineering and Data Programmes, who will bring new perspectives to our team, can feel part of the community and that they’re given the support & skills they need to succeed in their role"
Jeremy Duggan, president of Multiverse, said: "More and more talent is being fought over in a smaller and smaller pond: universities alone don’t produce enough data scientists to staff the UK’s leading tech companies, let alone to meet the swell in demand from financial services firms. These skills gaps are only set to widen, and every firm needs to work out what its strategy is for tackling it head on and making sure their business can deliver.”
“C. Hoare & Co. are creating a new generation of leaders in financial services by investing in an apprenticeship programme that will not only attract young talent into the industry - but also support their growth and development.“
In a report released last month, Multiverse is recommending that financial services firms should focus on expanding opportunities in the sector by:
- Investing more in retraining and upskilling programmes.
- Introducing entry-level programmes that are targeted at areas with the greatest skills gap.
- Continuing to invest in programmes to diversify their workforce, including the use of apprenticeships.
- Ensuring unspent Apprenticeship Levy is being focussed on the areas of pressing business need.
