“It is no longer sufficient to just provide ‘on-the-job’ training – there is an urgent need to ensure that new entrants undergo structured training and acquire basic competencies before they are admitted into the industry.”
Mr Lawrence Wong
Acting Minister for Culture, Community and Youth, and Senior Minister of State, Ministry of Communications and Information
FICS Inspiring Educator Award
This award recognises FICS-accredited training providers’ commitment to driving FICS adoption with the financial industry and contribution towards new initiatives to raise the professional competency of the financial sector workforce. The award was presented at the 2013 FICS Distinction Evening, an annual event recognising IBF’s key partners and stakeholders’ commitment to talent and human capital development under the FICS framework. The ICA is only the second winner of this prestigious award, which is of particular note as the association has only been present in the region for 5 years. In this time the ICA has become a leading body for the promotion of qualifications and training, not only in Singapore, but with our partners across the region.
The evening also saw Acting Minister Wong bestow the 2013 FICS Inspire Award to Credit Suisse AG for its outstanding contributions in supporting the extensive roll-out of FICS competency programmes in the bank. ICA was selected as the training provider for Credit Suisse’s Compliance Academy in 2012, and delivered a 6-month course to 20 individuals within the Academy studying on the Compliance Practicum Professional programme. Upon successful completion of the programme, candidates will receive both a formal internal certification from Credit Suisse and a Diploma in Compliance certification from ICA.
The Institute of Banking and Finance (IBF) also announced the proposed revisions to the Financial Industry Competency Standards (FICS) after its year-long review. The revised FICS certification framework will reflect competencies at Foundation, Intermediate, Advanced and Expert levels, while the revised FICS standards will better define the core competencies required at the different levels and give clearer guidance on the performance criteria that a certified professional should fulfil to demonstrate his competency.
For more details on the FICS framework, please visit www.fics.org.sg