The Advanced Diploma in Private Banking Programme will be given the highest level of accreditation under the IBF Standards for Wealth Management.
Bank of Singapore today announced that it is partnering the Wealth Management Institute (WMI) and Nanyang Technological University (NTU) to launch a new training and development programme – Advanced Diploma in Private Banking - for its private bankers. This partnership marks the first time that NTU, ranked 1st in the world among universities that have been in existence for less than 50 years, is collaborating with a financial institution to award an advanced diploma in the field of private banking.
The programme will be accredited by the Institute of Banking and Finance Singapore (IBF) as an IBF Standards Level 2/3 Programme in Wealth Management – Private Banking. This is the highest level of accreditation for this industry specialisation under the IBF Standards, which serve as a professional development roadmap for industry practitioners. IBF is the national accreditation and certification agency for the financial industry in Singapore.
WMI, Asia’s first centre of excellence for wealth management education, plays the lead role in the curriculum design and delivery of this coveted programme including partnership with NTU.
With the launch of this new Advanced Diploma Programme, Bank of Singapore will rank among the few private banks based in Singapore to offer its bankers a holistic suite of training programmes that all meet the full spectrum of the IBF Standards (Level 1 to Level 2/3).
Commissioned by Bank of Singapore and awarded by NTU, the Advanced Diploma in Private Banking Programme is designed to equip Bank of Singapore private bankers not only with in-depth knowledge but hands-on experience across the various aspects of wealth management such as wealth advisory, risk management and relationship building.
The inaugural cohort of Bank of Singapore private bankers will commence their programme at the end of June and graduate in November 2016.
Bank of Singapore Chief Executive Officer, Mr Bahren Shaari said: “As Asia’s Global Private Bank, it is important for us to set the highest professional standards of private banking in Asia. This requires us to continually deepen and sharpen the skills of our private bankers, not just in theory but also in complex analytical and application skills.”
“Our aim is to help our private bankers to succeed. Now that we can offer them a robust training and development programme complementing what we already have - a sound business model and strong open-architecture product platform - our bankers need not look elsewhere to carve out fulfilling careers. They also need not sacrifice their own personal time to look for upgrading opportunities,” he added.
With the Advanced Diploma Programme, Bank of Singapore bankers will receive tutelage from an established panel of lecturers specially convened by WMI and NTU, who are largely senior practitioners renowned for their knowledge and experience in the financial industry. They include Dr. Aaron Low, CFA, and Associate Professor Low Buen Sin, associate dean at NTU’s Nanyang Business School.Bank of Singapore’s Commitment to Talent Development
Since the inception of Bank of Singapore in 2010, it has invested heavily in the development of its employees. To date, close to US$30 million has been invested in human resource initiatives and programmes, focusing on five key areas – Talent management and leadership, employees’ professional development, corporate values and practices, client experience and client education.
A wide variety of training courses is availed to staff including customised learning for each job function, training the next generation of leaders and lunchtime talks with industry leaders.
In 2015 alone, Bank of Singapore employees clocked in twice as many training hours as they did the year before. Client-facing employees averaged 90 hours of training.