I am about to apply for a post where they are asking for the Diploma Part2 as "Essential". I have the NVQ4. How does this compare as a satisfactiory requirement?

This topic has been discussed many times (to death sometimes). The quals are both level 6 but we will never get away from the fact some employers will favor academic qualifications over vocational and vise versa. There are many reasons for this but in my opinion - it will generally be the manager who's recruiting - they may want in their team people who took this route and with that in mind there is a clue here requiring Dip 2. I'll bet they have it! I know safety managers who will only recruit from the academic route candidates as I know managers who will look at all perspective employees - simply the way it is. Like it or not we do have a snob value in the industry with the two - it’s a fact. You could send in your application and explain the NVQ candidates now have to take exams to reach GradOSH - this may support your application but I do suspect the recruiter will be aware.