Financial Capability Strategy Children & Young People Steering ...
Financial Capability Strategy Children & Young People Steering Group Minutes Wed 16th December 2015 14.00-16.00 MAS office, 120 Holborn, London, EC1N 2TD Mark Hallewell, Money Advice Service
Date: Time: Location: Chair:
Attendees Adrian Lyons, Ofsted | Faye Jordan, Barclays | Matthew Van Poortvliet, Education Endowment Fund | Michelle Highman, The Money Charity, representing Youth Financial Capability Group | Shelley Hopkinson, Action for Children Money Advice Service Attendees Mark Hallewell (Chair) | Ann Griffiths (Children & Young People Policy) | Kirsty BowmanVaughan (Children & Young People Policy) | Lee Philips (Wales manager – by phone) | Peter Bailey (Insight & Evaluation) | Fiona Hague (Secretariat) Apologies Emma Smale, Action for Children 1.
Introductions
1.1.
The Chair welcomed the group to the inaugural meeting and those present introduced themselves.
1.2.
The Chair advised that the purpose of the meeting was to clarify the role and purpose of the group and discuss the prioritisation of the action plan for year 1.
2.
Financial Capability Strategy Overview
2.1
MaH provided an overview of the key elements of the strategy and its focus on building the evidence base and achieving impact collaboratively. MaH clarified the relationship between the steering groups, devolved forums and the Financial Capability Board and explained the various roles of the Money Advice Service (MAS) in supporting the strategy.
3.
Role and Purpose of the Steering Group
3.1
The group reviewed the proposed Terms of Reference. There was some discussion about where the responsibility and accountability for delivery of the strategy sat between the Steering Group and MAS. The group agreed that MAS alone could not deliver the strategy and that collaboration between MAS, the steering group and the wider sector was required.
3.2
The group discussed membership of the steering group, specifically if there was sufficient representation from industry and from the research/academic sector.
Minutes, CYPSG 20151216
1
Action: MAS to discuss possible additions to the group with SG members at bilateral meetings. 3.3
The overlap between the work of the Young Adults and Children and Young People steering groups was discussed, the group proposed holding a joint meeting between the two groups once a year and recommended that as the action plans for the themes developed they were reviewed by MAS to ensure there was no duplication of work. Action: MAS to look into holding a joint Children & Young People and Young Adult steering group during the year.
CYP02
Action: MAS to review action plans for CYP and YA steering groups to avoid overlap.
CYP03
3.4
The group were comfortable with the membership and work of the steering group to be transparent with names, minutes shared on the Financial Capability Strategy website.
3.5
The group approved MAS’s recommendation that David Haigh, UK Financial Capability Director chair the meetings.
3.6
There was some discussion re the Quorum and voting process proposed in the Terms of Reference and the process regarding requesting a special meeting of the group. It was clarified that MAS would only have a single vote and that a special meeting would be held if the majority of SG members requested one. Action: MAS to make the amendments proposed by the SG and circulate a revised Terms of Reference.
3.7
CYP01
CYP04
MAS proposed that SG members nominate a single named deputy to attend meetings if they were unable to. SG members agreed? Action: SG members to nominate a deputy.
4.
Children & Young People Action Plan
4.1
The group ran through and discussed the Action Plan Tracker [enclosure C]. The group felt it would be useful to name the lead organisation responsible for delivering that element of the action plan.
4.2
There was some discussion about the Outcomes Framework and AL asked if this was re-inventing work that OFSTED had previously completed. KBV explained that the primary focus of this work in Y1 would be third sector organisations and would include practical support for evaluation and implementation, MiH added that there was appetite and commitment from the sector to use shared outcome measures to build a stronger case re the impact of financial capability.
4.3
The group discussed the Parenting Pilots taking place in Wales as another way to reach Children and Young People with financial capability support.
Minutes, CYPSG 20151216
CYP05
2
4.4
There was a query about a Welsh Government consultation regarding financial capability. LP confirmed that there were two relevant open consultations in Wales – the Welsh Financial Inclusions Strategy (closing 4 Jan) and the Well-being of Future Generations consultation (closing 11 Jan). MAS agreed to share its draft responses with the group. Action: MAS to share draft consultation responses re the Welsh Financial Inclusion Strategy and the Well-being of Future Generations.
4.5
CYP06
The group also discussed the current APPG on Financial Education consultation, MAS agreed to share its draft response in early January. Action: MAS to share response to APPG on Financial Education consultation.
5.
Action Plan Prioritisation
5.1
The group discussed the role of the steering group in particular how the responsibilities of MAS and the steering group members in relation to prioritising and delivering the Children & Young People Action Plan.
5.2
There was debate about the extent to which the role of the steering group was to; collaborate and endorse the work MAS is already progressing pick up and lead on areas of the action plan not currently being progressed
5.3
The group discussed how they could best support implementation of the strategy, recognising that many of the organisations represented were already involved in delivery and that it was impractical to wait until there was a perfect evidence base in place. The group felt they could support MAS to unblock areas where progress was not being made, and add value by utilising their networks where there were opportunities for other organisations to contribute.
5.4
The group reviewed the action plan to identify the opportunities for other organisations to contribute, particularly the gaps not being progressed by MAS such as point 2c and 3b. The group agreed that these elements of the plan required the engagement of significant numbers of stakeholders and queried if the current steering group membership included the right organisations to take forward some of the action plan points that aren’t in the MAS’s workplan for 2016/17.
5.5
AG confirmed that she was pulling together a stakeholder map to enable identification of the organisations best placed to support the elements of the action plan that need to be taken forward.
5.6
The group agreed that stakeholder mapping was the first step to enable the group to develop a workplan for the bigger streams of work in the action plan. Action: MAS to share stakeholder mapping with the steering group.
Minutes, CYPSG 20151216
CYP07
CYP08
3
5.7
The group agreed that their role was to act as a critical friend to MAS and help ensure that focus on the bigger picture was not lost. The group also agreed with the principle of bringing ‘meaty’ questions to the group for them to work through (rather than simply being a group to rubber stamp activity).
5.8
AG explained that work was underway to develop a theory of change and KPIs for the strategy, and it was agreed that work on this would be shared before the next meeting. Action: MAS to share work on theory of change and KPIs before next SG meeting.
5.9
It was agreed that the theory of change and mapping work would allow the group to have a fuller discussion about how the work they were undertaking could support the strategy, what gaps remained and how the group might go about addressing these. Action: Next meeting to consider in more detail how SG members’ activity can contribute to the strategy.
5.10
CYP09
CYP10
The group also agreed that the next meeting should include an update on the fieldwork (due to take place in Jan/Feb 2016) for the Children’s & Young People Financial Capability Survey. Action: MAS to add Survey Fieldwork update to agenda for next SG meeting.
5.11
AL updated the group on a national survey he would be leading for OFSTED looking at Enterprise, Employability and Employer Engagement in schools (this will include financial capability).
5.12
The survey will include investigation through OFSTED inspectors and a wider Call for Evidence likely to be published in January and a final report in Summer 2016.
6.
Any other business
6.1
There was no other business.
7.
Next Steps
7.1
The chair thanked SG members for their contributions
7.2
MAS will be in touch with meeting dates for the year ahead. Action: MAS to circulate meeting dates for 2016.
Minutes, CYPSG 20151216
CYP11
CYP12
4
Children & Young People Steering Group Action Log Ref 01
02
03
04
05 06
07
08
09
10
11
12
Action MAS to discuss possible additions to the group with SG members at bilateral meetings. MAS to look into holding a joint Children & Young People and Young Adult steering group during the year. MAS to review action plans for CYP and YA steering groups to avoid overlap. MAS to make the amendments proposed by the SG and circulate a revised Terms of Reference. SG members to nominate a deputy. MAS to share draft consultation responses re the Welsh Financial Inclusion Strategy and the Well-being of Future Generations. MAS to share response to APPG on Financial Education consultation. MAS to share stakeholder mapping with the steering group. MAS to share work on theory of change and KPIs before next SG meeting. Next meeting to consider in more detail how SG members’ activity can contribute to the strategy. MAS to add Survey Fieldwork update to agenda for next SG meeting. MAS to circulate meeting dates for 2016.
Minutes, CYPSG 20151216
Owner MAS
Date due 31 Mar 16
MAS
30 Jun 16
MAS
ongoing
MAS
31 Jan 16
SG members MAS
31 Jan 16
MAS
22 Jan 16
MAS
31 Mar 16
MAS
31 Mar 16
MAS
31 Mar 16
MAS
31 Mar 16
MAS
31 Jan 16
4 Jan 16
Update
Completed
5
Date: Time: Location: Chair:
Attendees Adrian Lyons, Ofsted | Faye Jordan, Barclays | Matthew Van Poortvliet, Education Endowment Fund | Michelle Highman, The Money Charity, representing Youth Financial Capability Group | Shelley Hopkinson, Action for Children Money Advice Service Attendees Mark Hallewell (Chair) | Ann Griffiths (Children & Young People Policy) | Kirsty BowmanVaughan (Children & Young People Policy) | Lee Philips (Wales manager – by phone) | Peter Bailey (Insight & Evaluation) | Fiona Hague (Secretariat) Apologies Emma Smale, Action for Children 1.
Introductions
1.1.
The Chair welcomed the group to the inaugural meeting and those present introduced themselves.
1.2.
The Chair advised that the purpose of the meeting was to clarify the role and purpose of the group and discuss the prioritisation of the action plan for year 1.
2.
Financial Capability Strategy Overview
2.1
MaH provided an overview of the key elements of the strategy and its focus on building the evidence base and achieving impact collaboratively. MaH clarified the relationship between the steering groups, devolved forums and the Financial Capability Board and explained the various roles of the Money Advice Service (MAS) in supporting the strategy.
3.
Role and Purpose of the Steering Group
3.1
The group reviewed the proposed Terms of Reference. There was some discussion about where the responsibility and accountability for delivery of the strategy sat between the Steering Group and MAS. The group agreed that MAS alone could not deliver the strategy and that collaboration between MAS, the steering group and the wider sector was required.
3.2
The group discussed membership of the steering group, specifically if there was sufficient representation from industry and from the research/academic sector.
Minutes, CYPSG 20151216
1
Action: MAS to discuss possible additions to the group with SG members at bilateral meetings. 3.3
The overlap between the work of the Young Adults and Children and Young People steering groups was discussed, the group proposed holding a joint meeting between the two groups once a year and recommended that as the action plans for the themes developed they were reviewed by MAS to ensure there was no duplication of work. Action: MAS to look into holding a joint Children & Young People and Young Adult steering group during the year.
CYP02
Action: MAS to review action plans for CYP and YA steering groups to avoid overlap.
CYP03
3.4
The group were comfortable with the membership and work of the steering group to be transparent with names, minutes shared on the Financial Capability Strategy website.
3.5
The group approved MAS’s recommendation that David Haigh, UK Financial Capability Director chair the meetings.
3.6
There was some discussion re the Quorum and voting process proposed in the Terms of Reference and the process regarding requesting a special meeting of the group. It was clarified that MAS would only have a single vote and that a special meeting would be held if the majority of SG members requested one. Action: MAS to make the amendments proposed by the SG and circulate a revised Terms of Reference.
3.7
CYP01
CYP04
MAS proposed that SG members nominate a single named deputy to attend meetings if they were unable to. SG members agreed? Action: SG members to nominate a deputy.
4.
Children & Young People Action Plan
4.1
The group ran through and discussed the Action Plan Tracker [enclosure C]. The group felt it would be useful to name the lead organisation responsible for delivering that element of the action plan.
4.2
There was some discussion about the Outcomes Framework and AL asked if this was re-inventing work that OFSTED had previously completed. KBV explained that the primary focus of this work in Y1 would be third sector organisations and would include practical support for evaluation and implementation, MiH added that there was appetite and commitment from the sector to use shared outcome measures to build a stronger case re the impact of financial capability.
4.3
The group discussed the Parenting Pilots taking place in Wales as another way to reach Children and Young People with financial capability support.
Minutes, CYPSG 20151216
CYP05
2
4.4
There was a query about a Welsh Government consultation regarding financial capability. LP confirmed that there were two relevant open consultations in Wales – the Welsh Financial Inclusions Strategy (closing 4 Jan) and the Well-being of Future Generations consultation (closing 11 Jan). MAS agreed to share its draft responses with the group. Action: MAS to share draft consultation responses re the Welsh Financial Inclusion Strategy and the Well-being of Future Generations.
4.5
CYP06
The group also discussed the current APPG on Financial Education consultation, MAS agreed to share its draft response in early January. Action: MAS to share response to APPG on Financial Education consultation.
5.
Action Plan Prioritisation
5.1
The group discussed the role of the steering group in particular how the responsibilities of MAS and the steering group members in relation to prioritising and delivering the Children & Young People Action Plan.
5.2
There was debate about the extent to which the role of the steering group was to; collaborate and endorse the work MAS is already progressing pick up and lead on areas of the action plan not currently being progressed
5.3
The group discussed how they could best support implementation of the strategy, recognising that many of the organisations represented were already involved in delivery and that it was impractical to wait until there was a perfect evidence base in place. The group felt they could support MAS to unblock areas where progress was not being made, and add value by utilising their networks where there were opportunities for other organisations to contribute.
5.4
The group reviewed the action plan to identify the opportunities for other organisations to contribute, particularly the gaps not being progressed by MAS such as point 2c and 3b. The group agreed that these elements of the plan required the engagement of significant numbers of stakeholders and queried if the current steering group membership included the right organisations to take forward some of the action plan points that aren’t in the MAS’s workplan for 2016/17.
5.5
AG confirmed that she was pulling together a stakeholder map to enable identification of the organisations best placed to support the elements of the action plan that need to be taken forward.
5.6
The group agreed that stakeholder mapping was the first step to enable the group to develop a workplan for the bigger streams of work in the action plan. Action: MAS to share stakeholder mapping with the steering group.
Minutes, CYPSG 20151216
CYP07
CYP08
3
5.7
The group agreed that their role was to act as a critical friend to MAS and help ensure that focus on the bigger picture was not lost. The group also agreed with the principle of bringing ‘meaty’ questions to the group for them to work through (rather than simply being a group to rubber stamp activity).
5.8
AG explained that work was underway to develop a theory of change and KPIs for the strategy, and it was agreed that work on this would be shared before the next meeting. Action: MAS to share work on theory of change and KPIs before next SG meeting.
5.9
It was agreed that the theory of change and mapping work would allow the group to have a fuller discussion about how the work they were undertaking could support the strategy, what gaps remained and how the group might go about addressing these. Action: Next meeting to consider in more detail how SG members’ activity can contribute to the strategy.
5.10
CYP09
CYP10
The group also agreed that the next meeting should include an update on the fieldwork (due to take place in Jan/Feb 2016) for the Children’s & Young People Financial Capability Survey. Action: MAS to add Survey Fieldwork update to agenda for next SG meeting.
5.11
AL updated the group on a national survey he would be leading for OFSTED looking at Enterprise, Employability and Employer Engagement in schools (this will include financial capability).
5.12
The survey will include investigation through OFSTED inspectors and a wider Call for Evidence likely to be published in January and a final report in Summer 2016.
6.
Any other business
6.1
There was no other business.
7.
Next Steps
7.1
The chair thanked SG members for their contributions
7.2
MAS will be in touch with meeting dates for the year ahead. Action: MAS to circulate meeting dates for 2016.
Minutes, CYPSG 20151216
CYP11
CYP12
4
Children & Young People Steering Group Action Log Ref 01
02
03
04
05 06
07
08
09
10
11
12
Action MAS to discuss possible additions to the group with SG members at bilateral meetings. MAS to look into holding a joint Children & Young People and Young Adult steering group during the year. MAS to review action plans for CYP and YA steering groups to avoid overlap. MAS to make the amendments proposed by the SG and circulate a revised Terms of Reference. SG members to nominate a deputy. MAS to share draft consultation responses re the Welsh Financial Inclusion Strategy and the Well-being of Future Generations. MAS to share response to APPG on Financial Education consultation. MAS to share stakeholder mapping with the steering group. MAS to share work on theory of change and KPIs before next SG meeting. Next meeting to consider in more detail how SG members’ activity can contribute to the strategy. MAS to add Survey Fieldwork update to agenda for next SG meeting. MAS to circulate meeting dates for 2016.
Minutes, CYPSG 20151216
Owner MAS
Date due 31 Mar 16
MAS
30 Jun 16
MAS
ongoing
MAS
31 Jan 16
SG members MAS
31 Jan 16
MAS
22 Jan 16
MAS
31 Mar 16
MAS
31 Mar 16
MAS
31 Mar 16
MAS
31 Mar 16
MAS
31 Jan 16
4 Jan 16
Update
Completed
5
