FICS Accredited Qualifications

The Financial Industry Competency Standards (FICS) is developed by the industry, for the industry to raise the bar for professional development of Singapore’s financial sector workforce. The process has involved hundreds of leading financial practitioners across more than 90 financial institutions in Singapore and abroad. It is developed and aligned with best practices found in other leading financial centres.

Under the FICS Accreditation Framework, the Institute of Banking and Finance conducts an independent quality review based on 8 Criteria for Assessment and 9 Criteria for Training. The framework integrates international best practices and is broadly aligned to WDA’s Quality Assurance system for Course Accreditation under the Singapore Workforce Skills Qualifications system (WSQ). The FICS Framework is recognised as the WSQ for the financial services sector.

FICS Compliance Job Families
Compliance - Anti Money Laundering
Compliance - Consumer Banking
Compliance - Fund Management
Compliance - Insurance
Compliance - Wealth Management
Compliance - Wholesale Banking

“Singapore is regarded by financial institutions around the world as a world-class financial centre with a highly qualified workforce. As our financial services grow in scale, scope and sophistication, we must continue to grow and develop the talent pool. With the FICS framework, we will continue to raise the bar for the professional development of our financial workforce”.

Opening Remarks by Mr Heng Swee Keat, Chairman of IBF and Managing Director, Monetary Authority of Singapore, at the Launch Event for the Appointment of FICS Lead Providers.

The ICA compliance programmes are comprehensive and reflect the external environment and job roles as dictated by the FICS competency framework. They capture the essence of what must be done as part of a compliance role and how it should be done to achieve the required level of performance.

The programmes are designed to present a clear understanding of the compliance function and the surrounding context. Knowledge gained can be used to measure practices unique to your firm. Content that considers the international arena helps prepare for present and future challenges and processes and procedures can be adapted accordingly.

The range of courses include Professional and Specialist Diplomas. Graduate Diplomas and Masterclasses are also available. Click here for more information

Compliance Job Family		Job Role	International Compliance Association Qualification*	FICS Certification
	Compliance - Anti Money Laundering	V	Specialist Diploma	Job Role V Certification**
		VI	Masterclass / Graduate Diploma	Financial Industry Certified Professional
	Compliance - Consumer Banking	IV	Professional Diploma	Job Role IV Certification
		V	Specialist Diploma	Job Role V Certification**
		VI	Masterclass / Graduate Diploma	Financial Industry Certified Professional***
	Compliance - Fund Management	IV	Professional Diploma	Job Role IV Certification
		V	Specialist Diploma	Job Role V Certification**
		VI	Masterclass / Graduate Diploma	Financial Industry Certified Professional***
	Compliance - Insurance	IV	Professional Diploma	Job Role IV Certification**
		V	Specialist Diploma	Job Role V Certification
		VI	Masterclass / Graduate Diploma	Financial Industry Certified Professional***
	Compliance - Wealth Management	IV	Professional Diploma	Job Role IV Certification
		V	Specialist Diploma	Job Role V Certification**
		VI	Masterclass / Graduate Diploma	Financial Industry Certified Professional***
	Compliance - Wholesale Banking	IV	Professional Diploma	Job Role IV Certification
		V	Specialist Diploma	Job Role V Certification**
		VI	Masterclass / Graduate Diploma	Financial Industry Certified Professional***

Key Features of the Programmes

• Courses are delivered by the MAS and WDA appointed FICS Lead Provider in Compliance
• A range of programmes resulting in professional qualifications
• Written and delivered by leading academics and experienced industry practitioners
• Detailed course materials that can be used in the workplace
• Aligned to the FICS certification requirements 
• Aligned to nationally recognised WSQ
• Job Family and Sector Specific content
• Variety of study options available
• Extensive support and resource materials
• Internationally recognised and accredited through the ICA quality assured education partnership with University of Manchester Business School

Key Benefits

• Advanced compliance knowledge
• Developed skills
• Enhanced performance in the workplace
• Provides a route to Financial Industry Certified Professional status in Singapore
• Career progression
• Provides a route to professional membership of the International Compliance Association
• Reduced financial risk for your firm
• Reduced reputational risk for your firm
• Verifiable evidence of learning

Admission Requirements

The International Compliance Association programmes have an academic and practical focus. They are designed for individuals who intend to carry out the duties of the compliance professional. The entry criteria are:

• Sound educational background, e.g. degree or professional qualification in an appropriate discipline, or
• Three years’ relevant work experience
  (e.g. financial services industry)

Financial Sector Development Funding

Details of the 90% funding support offered to financial institutions can be found here.

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