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Accord Conference Bristol April 2012. Anne Kiem Chief Executive Institute of Financial Services. www.iofs.org.uk. About the Institute. a division of the ifs School of Finance a not-for-profit professional body and registered charity, incorporated by Royal Charter

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accord conference bristol april 2012

Accord ConferenceBristolApril 2012

Anne Kiem

Chief Executive

Institute of Financial Services

www.iofs.org.uk

slide2

About the Institute

a division of theifs School of Finance

a not-for-profit professional body and registered charity, incorporated by Royal Charter

recognised as an awarding organisation by Ofqual

the only specialist financial education body with Taught Degree Awarding Powers

has a remit to provide the financial services industry with a skilled and competent workforce while also promoting a better understanding of finance amongst consumers.

slide4

The ifs today

Higher

Education

Professional

Qualifications

Executive

Education

Regulatory

Qualifications

A business

school for

Finance

Financial

Capability

Alumni /

Membership

slide5

Why am I here?

Conversation with

slide6

Who is the odd one out?

Sir Terry Wogan

Adam Applegarth

Fred Goodwin

slide7

Who is the odd one out?

Plumber

Solicitor

Electrician

Accountant

Dentist

Bank Manager

Gas fitter

Chef

slide8

The role of education in retail financial services

gives firms confidence that staff are fully aware of, and acting in accordance with, their regulatory responsibilities and limitations

gives employees confidence in their abilities and empowers them to seek the best outcomes for customers based on the consumers circumstances

gives customers confidence that their needs are being dealt with by competent, knowledgeable qualified banking professionals

slide9

The role of education in retail financial services

ensures that staff are fully conversant with processes and rules

better embeds the knowledge and delivery of best practice

enhances employees’ industry knowledge and appreciation of customer needs

identifies staff with talent and enables them to develop to their full potential

slide10

Institute Qualifications and Progression

MSc in Banking Practice & Management

Chartered Fellow

BSc (Hons.) in Banking Practice & Management

CharteredAssociate

Professional Diploma in Banking Practice & Management

Professional Certificate in Banking

Diploma in Retail Banking Conduct of Business

Certificate in Retail Banking Conduct of Business

Certificate in Business Banking Conduct

slide11

Certificate in Retail Banking

Conduct of Business

  • a professional qualification specifically designed to support customer facing staff
  • embeds understanding of the FSA's Retail Banking Conduct of Business and payment services regulations
  • equips customer-facing staff with essential knowledge of the financial services environment and the key principles of providing customer service excellence
slide12

Certificate in Retail Banking

Conduct of Business

  • Course content
  • the different types of retail banking customers and their needs
  • the sources of guidance and information for retail banking customers
  • the financial services environment
  • relevant legislation and regulations and how they impact retail banking
  • the main retail banking products and delivery channels
  • the key principles of lending
  • the importance of delivering effective customer service and its impact on customer retention
  • selling in retail banking
slide13

Diploma in Retail Banking

Conduct of Business

  • for those managing customer facing teams
  • enhances understanding of retail banking and its role within the wider financial system
  • develops a detailed appreciation of the products available to consumers and the principles of customer service best practice
  • enhances management skills and knowledge and acts as a means to career progression
  • offers credits in to first year of the degree programme
slide14

Diploma in Retail Banking

Conduct of Business

  • Course Content
  • the role of financial services in society and the economy
  • key legislative, regulatory and risk factors
  • implications and operational implementation of BCOBs and payment services regulations
  • customer service principles and practice
  • customer-centric delivery channels and strategies for managing customer relationships
  • the changing role and format of retail financial services and the interplay with ethics, consumer confidence and commerciality
slide15

Certificate in Business

Banking & Conduct

  • for customer facing professionals involved in lending to businesses
  • enhances understanding of the conduct of business regime in relation to business banking
  • develops understanding of the key processes and information needs related to making lending decisions
  • enhances business development, relationship management and customer service skills
slide16

Certificate in Business Banking & Conduct

Course Content

  • the business banking environment and principles of risk management and lending
  • the main types of business banking products
  • identifying and evaluating appropriate customer solutions
  • the application of BCOBs to business banking situations and appropriate complaints handling processes
  • principles of customer service excellence and effective approaches towards relationship management
slide17

Studying

all qualifications are studied via distance learning

comprehensive learning support package provided, including access to extensive online student resources

assessed mostly by multiple-choice examination with written exams for higher level papers (Diploma)

examinations delivered electronically with results given immediately

slide18

In summary

  • Benefits for the organisation
    • development of staff in a consistent manner
    • improves customer satisfaction & confidence and can reduce complaints
    • helps meet regulatory requirements
    • sets a benchmark
    • cost effective and flexible delivery
slide19

In summary

  • Benefits for the individual staff member
    • increased confidence in their role
    • aportable, externally benchmarked and industry recognised qualification
    • pathway to higher studies and potential career progression
    • illustrates a commitment to your employer, career & personal development
thank you questions

Thank you. Questions?

Anne Kiem

Chief Executive

Institute of Financial Services

www.iofs.org.uk