Programs Overview ( )

The Institute of Banking and Finance (IBF) is the national

accreditation and certification agency for financial competency under the Financial Industry Competency Standards (FICS) Framework.

•The Financial Industry Competency (FICS) Standards is a

comprehensive quality assurance framework with a certification and accreditation system that aims at raising the quality of

Singapore’s our financial workforce and training providers. •The FICS Framework comprises a set of standards with associated curriculum guide that relates to the competencies required for practitioners in specific job roles.

•The FICS Framework encompasses job families across sectors such as:

Risk Management, Compliance, Corporate Banking, Corporate Finance, Financial Markets, Fund Management, General

Insurance, Life Insurance, Private Equity, Securities & Futures and Wealth Management.

•The FICS Standards are developed by the industry, for the industry and benchmarked to international best practices.

•It is aligned with the structure and requirements of the Singapore Workforce Skills Qualifications (WSQ) system and recognised as the basis for WSQ awards for the financial services industry.

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Risk Management (RMI)

Liquidity and Balance Sheet Management – Banking Liquidity and Balance Sheet Management – Insurance Credit Analytics

Credit Risk Management – Consumer Banking Credit Risk Management – Corporate Banking Market Risk Analytics

Market Risk Management Operational Risk Management

Compliance

Compliance – Anti-Money Laundering Compliance – Consumer Banking Compliance – Fund Management Compliance – Insurance

Compliance – Wealth Management Compliance – Wholesale Banking

Corporate Banking

Cash Management

Credit Analysis & Approval Credit Control & Administration Project Financing

Relationship Management – Enterprise Banking Relationship Management – Wholesale Banking Sales & Marketing – Transactional Services Structured Financing Advisory

Trade Finance

Trade Processing, Control & Support

General Insurance Claims Handling Underwriting Life Insurance Claims Handling Underwriting Financial Markets Asset Securitisation

Deal Processing & Settlements Debt Origination & Syndication Product Control

Research Trading

Treasury Sales

Fund Management

Business Development – Institutional Business Development – Retail Central Dealing Fund Administration Performance Measurement Portfolio Management Product Development Corporate Finance

Origination, Structuring & Advisory – Equities Sales & Distribution – Primary Markets

For Financial Institutions

• Today, the financial industry operates within a highly dynamic and global

marketplace where competition is stiff and change is unrelenting. The pace at which the industry is progressing and evolving poses a real challenge for financial institutions in training their staff to meet the demands.

• The FICS Framework is a structured competency-based framework

developed by the industry will help financial institutions to enhance their

training and development capability.

• The FICS Standards sets out benchmarks built on world-class standards

can help financial institutions to raise their talent development and training framework to a new platform.

For Financial Institutions

• It provides a structured and objective framework to assess the adequacy of

the skill sets of financial practitioners, and channel efforts more effectively to bridge the gaps in their skills.

• At a strategic and national level, it helps identify impending skills shortages

so that people can be upskilled and trained more quickly to meet future needs.

• Staff can know what is expected in training and how they will be assessed.

For Individuals

• The Financial Industry Competency Standards (FICS) provides financial

practitioners with a defined roadmap to guide them towards professional recognition and certification.

• It also allows individuals the mobility to navigate various segments within

the financial services industry or for them to move and / or upskill, or to join a growing segment of the industry.

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Portable Job Families Risk Management - Asset Liability

Management (Banking)

Risk Management - Asset Liability Management (Insurance)

Portable Job Families Risk Management - Asset Liability

Management (Insurance) Risk Management - Asset Liability Management (Banking)

Portable Job Families Risk Management - Credit Analytics

Risk Management - Credit Risk Management (Consumer Banking)

Risk Management - Credit Risk Management (Corporate Banking)

Portable Job Families

Risk Management - Market Risk Analytics

Risk Management - Asset Liability Management (Banking) Risk Management - Asset Liability Management

(Insurance)

Risk Management - Credit Analytics

Risk Management - Market Risk Management Risk Management - Operational Risk Management Financial Markets – Product Control

Portable Job Families Risk Management - Market Risk Management

Risk Management - Asset Liability Management (Banking) Risk Management - Asset Liability Management

(Insurance)

Risk Management - Operational Risk Management Financial Markets – Product Control

Portable Job Families Risk Management - Operational Risk

Management Risk Management - Market Risk Management

For Individuals

• Attainment of the Financial Industry Certified Practitioner (FICP)

professional certification is a recognised mark of professional achievement. It also represents the certified individuals' agreement to adhere to the

standards of professional competency, industry ethics and a commitment to a career in their chosen field.

• The rigorous certification assessment process distinguishes those who:

i. Possess practical knowledge and skills to handle the work challenges faced

in their jobs.

ii. Meet and achieved internationally-benchmarked competency standards of the chosen financial services ‘job family’;

For Individuals

iii. Meet and achieved internationally-benchmarked competency standards of the chosen financial services ‘job family’;

iv. Demonstrated the ability to apply expert levels of knowledge and skills on the job in accordance with industry best practices; and

v. Agreed to act as role models for other industry practitioners and aspirants and support the professional development efforts of the FICS framework.

For Individuals

• Provides clarity on job requirements for senior positions so individuals can

focus on the key skills required for career advancement and progression.

• Recertification every 3 years – through Continuous Professional Education

and Development.

• Certification obtained are endorsed under a National Qualification

Framework –ie, MAS-IBF, WDA, and RMI and recognised by the industry and jurisdictions both local and overseas.

NUS – Risk Management Institute (RMI)

About RMI:

– Established in August 2006

– University-level Research Institute

– Supported by Monetary Authority of Singapore

(MAS)

– Appointed the Lead Provider for Training and

Assessment for the Risk Management segment of the FICS-accredited training and assessment

programs (Jul 2007).

– The FICS accreditation serves an Industry-endorsed

mark of quality for training and assessment services by RMI.

NUS – Risk Management Institute (RMI)

As a Lead Provider, RMI aims to:

(i) Deliver a suite of high quality training and assessment

programs that are FICS-accredited by the Institute of Banking and Finance (IBF), for all the competency units required for all job roles in the allocated job families under the FICS framework. (ii) Make available competency assessment programs to their trainees as well as persons who do not opt for training or who underwent training by another provider and issuing Statements of Attainment to successful candidates.

(iii) Provide consultancy or advisory services on mutually agreed terms to financial institutions in their adoption of FICS. This would comprise the alignment of their existing programs with FICS or the augmentation of existing in-house training and/or assessment programs to address gaps.

(iv) Provide general information on career opportunities and pathways and facilitating the placements of new entrants who

1. Market Risk Management

2. Market Risk Analytics

3. Credit Risk Management - Consumer Banking

4. Credit Risk Management - Corporate Banking

5. Credit Analytics

6. Operational Risk Management

7. Liquidity and Balance Sheet Management (LBSM) – Banking

8. Liquidity and Balance Sheet Management (LBSM) – Insurance

For more information on the course description (Click Here):

http://www.rmi.nus.edu.sg/training/files/FICS_programs_outline_and_descr iption.pdf

Overview – Training, Assessment & Certification Pathway

Example on Market Risk Management (Job Role V)

Training Module 1 in Market Risk Management Assessment Module 1 (CU6&7) in Market Risk Management Training Module 2 in Market Risk Management Assessment Module 2 (CU1&2) in Market Risk Management Training Module 3 in Market Risk Management Assessment Module 3 (CU3&4) in Market Risk Management Certificate of Attendance (COA) for Module 1 (CU6&7) in Market Risk Management Statement of Attainment (SOA) for CU6&7 in Market Risk Management Certificate of Attendance (COA) for Module 2 (CU1&2) in Market Risk Management Statement of Attainment (SOA) for CU1&2 in Market Risk Management Certificate of Attendance (COA) for Module 3 (CU3&4) in Market Risk Management Statement of Attainment (SOA) for CU3&4 in Market Risk Management Financial Bridging Module Certificate of Attendance (COA) for Module 1a in Market Risk Management

•A Certificate of Attendance (COA) will be awarded, subjected to 75% min attendance for each training module.

•A Statement of Attainment (SOA) will be awarded upon passing each assessment Competency Unit (CU). Financial Industry Certified Professional (FICP) Experience

Features of the FICS Training and Assessment programs

• There are two (2) runs of the FICS accredited training and assessment programs in Risk Management conducted in a year:

ie, Intake 1 – From Jan to June and Intake 2 – From June to Dec • Training:

- Training classes are conducted in a modular basis on a weekly basis (over 12-16 weeks) in the evenings:

ie, Intake 1 – From Jan to June Intake 2 – From June to Nov • Assessment:

- Exams are conducted in a competency-unit basis at the end of each module:

- Each modular exam consists of one (1) paper exam and one (1) group presentation cum individual Q&A session in which candidates will bet tested on:

i) Their Knowledge - Multiple-Choice Questions (MCQs) and Short answer questions ii) Application of knowledge –work solutions, presentations

FICS Funding

RMI’s FICS accredited training and assessment programs in Risk

Management are eligible for FICS Funding .

For more information on FICS funding, please contact the IBF at:

Tel: 6220 8566 or

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Fees Payable Upon Registration

•The Financial Bridging Module is an optional bridging module and there is no assessment.

•Funding for Training = 70% of program fees. Funding for Assessment = 70% of assessment fees ; max capped at $500 per assessment (Applicable to

LBSMB) . Only available upon passing and receiving funds from MAS.

•RMI will reimburse up to 70% of assessment fees (except LBSMB) to the candidates upon their passing, depending on the funding structure available at the

Market Risk Management $6,000 (Training) + $1,500 (Assessment)

Payable = $1,800 + $1,500

Market Risk Analytics $8,000 (Training) + $2,000 (Assessment)

Payable = $2,400 + $2,000

Credit Analytics $8,000 (Training) + $2,000 (Assessment)

Payable = $2,400 + $2,000

Credit Risk Management - Corporate Banking $5,500 (Training) + $1,375 (Assessment)

Payable = $1,650 + $1,375

Credit Risk Management – Consumer Banking $5,000 (Training) + $1,250 (Assessment)

Payable = $1,500 + $1,250

Operational Risk Management $6,000 (Training) + $1,500 (Assessment)

Payable = $1,800 + $1,500

Liquidity and Balance Sheet Management – Banking $6,000 (Training) + $1,500 (Assessment)

Payable = $1,800 + $1,500

Liquidity and Balance Sheet Management – Insurance $6,000 (Training) + $1,500 (Assessment)

Payable = $1,800 + $1,500

Optional Bridging Module 1A $1,500 (Training)

Programs Venue

Level 11 /12

108 Robinson Road Singapore 068900

Some FAQs

Q: How can I register and pay for the programs?

A: Please download the Registration Form and Info Pack from RMI’s website, and send cheque payment to RMI prior to class commencement.

Q: For Company Sponsored applicants-How can I enjoy the funding?/ How can I claim for the funding?

A: Please contact the administrating bodies – IBF and WDA for more information, application, processing and claims, etc. Individuals’ funding will be done by RMI.

Q: What is the class schedule?

A: Dates are tentative unless otherwise stated confirmed and subjected to min. class size requirements.

Q: How strict is the training attendance requirement?

A: For each module, 75% attendance is a must for COA award and FICS funding requirement.

Q: Do I need to bring my own laptop/stationery/calculator to the class?

A: Yes. Students are required to bring their own. But RMI will provide program folders and notes for each module.

For Further Information

• Contact NUS – Risk Management Institute (RMI) (On FICS Programs)

• Website: http://www.rmi.nus.edu.sg/training/ficscontact.php

• Tel: (65) 6516 1011/6516 8497/ 66011214 Fax: (65) 6874 5430

• Email: [email protected]

• Contact the Institute of Banking and Finance (IBF)

(On FICS Funding, SOAs Submissions and FICP Professional Certification) • Website: http://www.fics.org.sg

• Tel: 62208566