Program Overview

Program Overview

The IBF Standards Certificate in Operational Risk Management Level 1 is a specialized program designed to provide participants with a comprehensive understanding of operational risk management. The program is developed around the IBF Standards, which are cutting-edge, forward-looking, and benchmarked against the best standards and practices in the world.

Program Description

This job specialization refers to the independent risk management function that provides oversight over operational risk and establishes the corporate operational risk management structure, framework, policies, processes, and tools for identifying, measuring, analyzing, controlling, monitoring, and reporting of operational risk.

Minimum Entry Requirements

• Degree holders or equivalent professional certification or qualifications in any discipline from recognized institutions, both local and overseas, with or without relevant work experience in the Financial Services Industry.
• Full GCE A Levels / Polytechnic Diploma holders in commerce, business, accounting, or finance-related discipline (other disciplines are on a case-by-case basis) from recognized institutions, both local and overseas, with at least 5 years of relevant work experience in the Financial Services Industry.

Target Audience

• Professionals who are currently working in the Financial Services Industry and are performing Risk Management functions who wish to enhance their knowledge and skills in Operational Risk Management or to upgrade themselves or to obtain formal professional certification for their skills and knowledge.
• Professionals who are currently working in other segments in the Financial Services Industry who wish to acquire skills and knowledge, and to obtain formal professional certification in Operational Risk Management to enable them to value-add or who aspire to move into Operational Risk Management functions.
• Fresh tertiary graduates (Degree holders) who aspire to join the Financial Services Industry and who wish to explore career opportunities in Operational Risk Management.

Learning Approach

The program combines lecture, interactive discussions, quiz, case studies, etc. The IBF Standards consist of 4 Competency Units – Governance, Analytics, Technology, and Functional with the following learning objectives.

Competency Units

CU 1 – 3 - Learning Objectives

By the end of the course, participants will be able to demonstrate:

• foundation understanding of the financial services industry as well as awareness of regulatory and industry trends and developments
• foundation competencies in the understanding of financial products and markets, financial mathematics, and corporate finance
• foundation understanding of data management and the use of risk information technology

Level 1 CU4 - Learning Objectives

By the end of the course, participants will be able to demonstrate:

• demonstrate an understanding of operational risk and its inter-relationship with other risk categories
• demonstrate an understanding of operational risk strategy and how it supports the achievement of organisations strategies and objectives
• work with colleagues to support the implementation of various approaches for identifying, measuring, analyzing, controlling, mitigating, monitoring, and reporting operational risks
• work with colleagues to support the data and management information systems required to support the ORM framework, methodologies, and processes

Program Dates

• Lessons for CU 1, 2, and 3: 25, 27, and 1, 2, 4 November 2023
• Written Exam for CU 1, 2, and 3: Wednesday, 8 November 2023 (MCQ and short answer questions, 60 minutes)
• Lessons for CU 4: 10, 14, 15, 17 November 2023
• Written Exam for CU 4: Wednesday, 22 November 2023 (MCQ and essay questions, 90 minutes)

Tuition

The tuition fee is $8,500, subject to 7% GST.

Funding

• 50% subsidy for the training course fees eligible for both company-sponsored and individual candidates to attend a training programme that has been accredited under the STS.
• 70% for 40 years old and above for Singapore citizens.
• The funding support is capped at S$3,000 per participant per programme.

Discount

• 20% discount for signups before 25 September 2023 (1 month ahead of the program)
• 20% discount for signups of a group of 3 or more

Certification

Each participant who successfully completes the workshop (with minimum 75% attendance) and passes the assessment will receive a Specialist Certificate in Operational Risk Management Level 1.