Summary Document
Next Generation Occupational Standards for CTE

Career Cluster: Finance 
Chair: Eliot Rosenberg, ChFC, CLU, LUTC, registered Investment Principal, Calton and Associates 
Co-Chair: William Barfield, CLU, ChFC, FLMI, FALU, Instructional Program Manager, Institute for Financial Studies, Florida State College at Jacksonville
Status Reports

Date 	Comments	
February - 	Program committees worked on program reviews.	
Through January, 2013	Program committees worked on program reviews. The BTE Core has been added to the Finance and Global Finance Programs. Finance and Business Technology has been identified as a Practical Arts Course. Curriculum changes and alignment to academic courses have been formatted and posted on DOE website.	
November, 2011	Working Group Presentation to Steering Committee for 2013 – ’14.	
April – October, 2011	Program committees worked on program reviews. The Banking AS/AAS Program was reviewed with program committees. Revisions have been made to the following programs: Insurance Customer Representative, Insurance Customer Service Representative, Insurance General Lines Agent, and Personal and Family Finance .  Two new middle school courses were created, including Fundamentals of Finance and Introduction to Finance.  Finance Cooperative Education  - OJT and Finance Directed Study were also developed for secondary students; however PSAV students may also enroll in Finance OJT. Curriculum changes and alignment to academic courses have been formatted for posting on DOE website. 	
February, 2011	Presentation to Steering Committee for 2012- ’13.	
December, 2010	Curriculum changes were formatted for posting on DOE website.	
Oct – Nov, 2010	Revisions were made to Health Insurance Marketing, Insurance Claims Adjuster, Life Insurance Marketing, Mortgage Broker, and Personal Lines Insurance Agent according to regulatory and licensure changes.	
July – Oct, 2010	Program committees worked on program reviews.  Teller Operations has been daggered for another year.  Finance and Business Technology has been approved for substitution with Introduction to Information Technology in the Finance Program.  Banking and Financial Services AS/AAS Programs were reviewed with program committees and determined that reviews need to be continued into the next year to accompany significant and ongoing changes occurring in the financial industry.  	
6/2/2010	1.	Program committees were established for each program targeted for review via Working Group conference call.
2.	Some committees require additional representatives, which will be finalized by July 2nd.
3.	Initial program revisions are to be received by Wendy no later than July 30th.  Program committees will meet regularly between August 1 – the fall, with final revisions to be received no later than November 1, 2010.
4.	Discussed request from schools to have the option to substitute Introduction to Information Technology (8207310) for Finance and Business Technology (8815150) as both courses provide the same career outcomes, and similar standards and benchmarks.  The substitution would additionally allow students to obtain their practical arts requirement.
5.	Andrew Rothstein updated NAF’s efforts to facilitate industry certification for secondary and post secondary students.  They have identified several industry groups as potential partners and are focusing on the American Institute of Certified Public Accounts (AICPA), Florida Institute of Certified Public Accountants (FICPA) and the Securities Industry and Financial Markets Association (SIFMA).  
6.	Teller Operations 8815200 / M804990 had been daggered for ‘09/10 due to low enrollment (40 students) and industry reporting that skills are bank specific with training best left to be completed at place of employment.  Looking into program removal for ‘10/’11.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
	
4/26/2010 	 1. Reviewed stakeholders on the Working Group:
a.	Representatives from business and industry are included; however, we are working to supplement our group with additional members.
b.	Professional and trade associations are needed.  Andrew Rothstein (NAF) has been working on this effort, identifying potential industry associations partners appropriate to provide certifications for finance programs.
c.	Regional workforce board representation is also needed.
d.	Local economic development organizations are needed.
e.	Secondary, postsecondary and community colleges are represented.
2.	We need to identify the needs of the Working Group for an additional year.
3.	A strategy is required for updating the Finance Career Cluster Curriculum Frameworks. 
4.	A  timeline needs to be identified when these frameworks will be reviewed. 
5.	Finance programs are identified with an accompanying strategy on how the programs will be updated in our Three Year Program of Work.   This will be a part of the steering committee report made spring 2010.
6.	Essential skills have been added to all 2010 frameworks and will be included in subsequent updates and additional new programs. 

Items for Discussion:
1.	Lack of industry certification for Finance Frameworks. Discuss Andrew Rothstein’s correspondence on potential industry association partners appropriate to provide certifications. 
2.	Loss of programs and position of Mel Downey, Broward County Schools.  
3.	Bill Barfield has offered to serve as co-chair of Finance Working Group.
4.	Proposed change to Finance Curriculum offering schools the option to substitute Introduction to Information Technology (8207310) for Finance and Business Technology (8815150) as both courses provide the same career outcomes and the would allow students to obtain their practical arts substitution requirement.	
12/17/2009	2 courses to the Academy of Finance. These courses were developed for Florida and reviewed by working committee for inclusion in the 2010-11 CCD Course Code Directory.
The work group has received the two courses developed. by NAF- National Academy Foundation.  Andrew Rothstein, Ph.D. Senior Director, Curriculum & Academics National Academy Foundation.  To date the two courses are:
•	Financial Reporting & Analysis now called - Managerial Accounting
•	Global Economics now called - Business in a Global Economy
It was discussed that the program for Teller Operations 8815200 / M804990 is on watch due to low enrollment. It will remain daggered and looked at again for the year ahead.  Financial institutions seem to prefer to train their own people.  Their concerns are that the students have customer service skills and be able to pass a background check.  Suggestion is to dagger this program in the course code directory and have students take the customer service rep. program
Accounting Applications I – was reviewed by the. Work Group for a possible math credit the new sunshine standards have been applied in math. 
Two new finance Courses in:
Individual Income Tax Preparation 
Life and Variable Annuity Pre-licensing 
As well as a major update to Personal Financial Planner
	
12/18/2009	The committee recommended DELETION of Teller Operations 8815200 / M804990 due to low enrollment.
Discussion from Bill Barfield and others were that the financial institutions prefer to train their own people.  It will be looked into as to whether to have students take the customer service rep. program since this is an entry level program 
It was discussed that since the two courses prepared by the NAF have been written the next step is to prepare a curriculum framework for each of them Mel Downey volunteered to develop these with the help and support of some of his teachers in the Finance Programs in Broward County.  
•	Financial Reporting & Analysis 
•	Global Economics
Bill Barfield presented a plan to develop a curriculum for Tax Preparation for a course at the Community College Level.  He has volunteered to develop the Framework for review.  
It was noted that the Insurance (General Lines, Health, Customer Service, Adjuster, etc.) and Mortgage Broker licensing courses are regulated by the Department of Financial Services and programs mirror those regulations.