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SAQ RM CertificationDelivery to Foreign Banks
31 May 2017, Geneva1 June 2017, Lugano7 June 2017, Zürich
SAQ RM Certification: Delivery to Foreign Banks
Welcome / Introduction
11.10-11.30 IntroductionRonny Wallnöfer, SBA
11.30-12.00 TestimonialsCredit Suisse, Julius Bär, UBS; UK
12.00-12.40 PresentationsFintelligence, Fitch Learning, Swiss Finance InstituteKalaidos + Centro di Studi Bancari; Institut Supérieur deFormation Bancaire; Fachschule für Bankwirtschaft
12.40-13.30 Networking
SAQ RM Certification: Delivery to Foreign Banks
11.10-11.30 Introduction
Ronny WallnöferProject Head Strategy Training / Best Talents, Swiss Bankers' Association- RM Certification: what it is and what it offers, where it comes from, how it compares
internationally.- Certification and Recertification; Swiss and international modules
SAQ Person Certification
2017-05-29Ronny WallnoeferProject Head Strategy Training/Best Talents
• 2010/2012 - SwissBanking discusses the introduction of acertification system for Client Advisors
• 2012 - Non-conclusive decision leads to initiative by UBS to setup a certification system in cooperation with SAQ
• October 2015 UBS, Credit Suisse and the Banques CantonalesLatines agree on the SAQ person certification as a certificationstandard for client advisors. Bank Julius Baer joins soon after.
Seite 2 01.06.2017
Certification System - origins
The SAQ Person certification is about establishingstandards, which provide a constant quality of the «ClientAdvisor Bank» and in doing so set a benchmark and toensure and document the knowledge and skills of the«Client Advisor Bank»
• Content, requirements and qualification procedures and processes for obtainingcertification are defined and developed by the Normative Committee, according to theframework given by the norm ISO 17024
Seite 3 01.06.2017
A standard for professionalisation and excellence –driven by the banking industry
• Current certification programmes CWMA, CCoB, Private Clients, Individual Clients* coverthe client advisor segments
• System offers flexibility for participating banks in regard of scope, content and training
*Affluent Client and SME accreditation by SAS is pending
Normative Committee Technical Boards
Definition and Developmentof Learning Topics
Strategic Level
Normative DocumentationSystemic Level
Normative Base
Examination Regulation
Certification Programmes
Technical conformityDefinition of Normative
Documentation
System Development
• CWMA recommended by SBA as standard for client advisors inprivate banking/wealth management in December 2016
• Content CMWA certification meets MIFID II requirements per 1January 2018
• International portability of the CWMA certification is part of theSwissBanking strategic project «Training/Best Talents»• Focus on MIFID countries, UK, UAE, Singapore, Hong Kong, South Africa
• SwissBanking assesses the recommendation of additional SAQprogrammes
Seite 4 01.06.2017
CWMA recommendation and future development
SAQ RM Certification: Delivery to Foreign Banks
11.30-12.00 Testimonials
Geneva- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG- Shane Norton, independent adviser
Lugano- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG
Zürich- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG- Oliver Ruch, Programme Manager RM Certifications, Bank Julius Bär & Co. Ltd.- Shane Norton, independent adviser
CWMA application at Credit SuisseFrom
Bank specifictraining landscape
(e.g. offering, tools, advisory& investment process)
To
Global Train-to-RM certificationIntroduced 2007
+
Global Frontline Certification 1.0Introduced in 2010
Generic Private Banking &Finance Knowhow- mainly self-study –
(e.g. Derivatives, PortfolioManagement, InvestmentFunds, Behavioral Finance)
Cert
ifica
tion
–(IS
O 1
7024
)
SAQ CWMA certification path NB* 1.8
CPD
In-h
ouse
Fitc
h Le
arni
ngCPD
PROS:• Cost efficient platform and
maintenance for generic know-how• Opportunity to benefit automatically
from external expert know-how viaregular updates and regular feedbackfrom other users
• Integration of new developments (e.g.MIFID) in the industry
• Cost efficient re-certification, updatesand CPD hours
• Flexibility in choosing vendors• No process or data challenges because
of “mixed” content and data• Clear positioning of market standard
versus in-house capacities
CONS:• Steering participants through two
training platforms
Based on the various benefits of the standard, introduction and launch has been perceived extremely well
CWMA application at UBS AGCWMA application at UBS AGUBS WM Diploma / CWMA is the foundation training for client-facing roles at UBS Wealth Management (to date: ~4'000)
Initial certification (14 topics)1:4 Multiple Choice / 150 questions, 300 minutes*
Recertification(every 3yrs)
60 questions, 120
at UBS Wealth Management (to date: 4 000)
UBS specifict t
p qminutes*
• Investm. Funds• Investm. Solutions• Structured Cl li k t B d f K l dcontent
(IPR with UBS)
Industry specific • Asset classes
• Structured Products
• Lending Solutions• The Wealth Mgmt
Advisor• Mortgages
B i P d t
• Risk, Legal and Compliance
• Wealth Planning International (or
Close link to Body of Knowledge and focus on:• Recent changes• Application elements• UBS specific elements
Industry specificcontent(IPR not with UBS,leverage across
Asset classes• Financial Markets,
Economics and FX• Derivatives• Portfolio Mgmt• Behavioral Finance
• Basic Products International (or Domestic)
• Local additions (e.g. HK, SG)
industry partnership)Exam 1Financial Markets,
Exam 2Client
Investment
Exam 3Regulatory and Wealth Planning
Single Exam50% of initial
certification contentMarkets, Products &
Portfolio Management
Investment Solutions (local
adaptations)
Wealth Planning Framework (local
adaptations)
certification content, rolling every two
years
1
*local modifications possible (e.g. APAC)
CWMA application at UBS AG - RecertificationCWMA application at UBS AG RecertificationGrowing suite of options to achieve recertification: increase efficiency and effective use of CA time dedicated to developmentp
Knowledge Application RecognitionRe-
Certification
Initial certification
Current options Alternative options Requirements
WM TSC WM Diploma CWMA
• Written Re-Certification test
• Suite of all CA or segment specific classroom training (credit system)
• Re-Certification trainings (continuous professional development)
WM Master mod le 2 test (once
• 24 learning hours 2 day training including preparation
• Link to content standard (WM B d f K l d )(credit system) • WM Master module 2 test (once
during program participation)
• Leadership Development program for Desk Heads (once during program participation)
Body of Knowledge)
• Accreditation form certification body SAQ (Swiss Association for Quality)
program participation)
Examples
• WM EEM Program "Living the Client Experience" for WM EEM front staff in the HNWI and Affluent segments
• Advisory Skills Acceleration Program for candidates in Japan
• Selling with emotions training
2
• Selling with emotions training
AFBS Event in Zurich7 July 2017
SAQ CERTIFICATION AT BANK JULIUS BAER
RM CERTIFICATION SWITZERLAND
2
Steps to CWMA certificate
• Briefing andsimulation oforal exam
• Individualfeedback
Oral exam simulation(ca. 1.5h)
optional
• Supervised e-test (multiple choice)
• Two partner schools for training and exams:Fitch Learning & SFI
• Locations: depending on school
• Languages: E, D, F, I• Audited by SAQ
• Certified Wealth Management Advisor (CWMA)
• Issued by Swiss Association for Quality (SAQ)
• SAQ accredited by SAS/SECO based on ISO 17024
• Recertification every 3 years
• Assessment by trained internal experts/senior RMs
• Locations: Geneva,Lugano, Zurich
• Languages: E, D, F, I• Audited by SAQ
Oral exam(60 min)
simulatedclient meeting
External Internal
Written exam(ca. 5h)
3-4 partial exams
EXPERIENCE AND FEEDBACK
3
After running written and oral exams for more than one year
Bank• Change process – starts with senior management• Involvement of senior RMs and Team/Market Heads very positive ('ambassadors')• Offering training, running exams and providing information need a lot of resources
Participating RMs• Feedback: 'Finally!' vs. 'Why do I need to do this after 20 years of service?'• In case of failure: learn more for written exam is easier than changing behaviour in oral
exam• Participants are proud of achievement
Reactions in the market• Switzerland not a first mover regarding certifications, but on a higher standard than other
jurisdictions• 'Proof of competence' is expected by clients
IMPORTANT DISCUSSION POINTS
4
BJB answers and way forward
Make vs. buy• BJB answer: buy written exam, let the market play and let participants choose provider• Keep oral exams in-house
Generic certification vs. bank-specific training• BJB answer: leverage generic content as much as possible, cover bank-specific content in
onboarding programme, oral exams and recertification
Implementation in locations outside Switzerland• BJB answer: option for the future, avoid redundant examination for RMs (local regulation
plus ISO/SAQ) - therefore integration of ISO into local regulatory framework first
Compatibility with MiFID?• 'Body of Knowledge' of CWMA is currently being revised, integration of MiFID aspects is
one of the drivers
The small banks point of view SHANE NORTON
The Retail Distribution Review
Reforms in:
Labelling of Service Renumeration Professionalism
Professionalism strand is very similar to SAQ proposals Key difference: RDR made qualifications and continual training mandatory
Benefit from Certifications
By: Raising standards Attracting ambitous staff Protecting yourself against regulatory scrutiny Marketing your professionalism
Improve trust
Win clients
Increase revenues
Challenges and how to address them
Organisational
• Scope • Exemptions • Learning support • Deadlines • Penalties • Staffing losses • Setting up and
tracking CPD • Marketing push
Financial
• Administrative costs
• Training costs • Marketing costs • Staff turnover
costs
Cultural
• Managing fear • Establishing a
learning culture
The key to gaining benefit
Effective marketing
Clear internal processes
Learn from our mistakes
Effective communication
SAQ RM Certification: Delivery to Foreign Banks
12.00-12.40 Training and Certification Providers
GenevaFintelligence – SFI – Fitch – ISFB/Kalaidos Lugano
SFI – Fitch – Fintelligence – CSB/Kalaidos Zürich
Fitch – Fintelligence – SFI – FSB/Kalaidos
SAQ RM Certification: Delivery to Foreign Banks
Fitch Learning
Andreas Karaiskos Rob Thakur Kevin Boyle
Knowledge | Skills | Conduct
SAQ CWMA
The Fitch LearningSolution
1
Knowledge | Skills | Conduct
Our USPs and Differentiators for a CWMALearning Solution
CompleteOnline
LearningSolution
ExamFlexibility
Multi-lingualCapabilities
Diagnostic eLearning takes into account prior knowledge Tutor videos, study notes and appraisal questions The platform can be extended to meet MiFID II compliance
Computer based exams can be taken on any business day Multiple exam locations globally, including Geneva, Zurich,
Camorino
The learning content and the exams are available in multiplelanguages
Languages include French, German, Italian and English
2
Knowledge | Skills | Conduct
Pre-
Phas
eLe
arn
Phas
eEx
am P
hase
Candidate & L&D ExperienceFully Automated Authorisation And Exam Booking
welcome email from FitchLearning with login details
welcome video andintroductory information
Self diagnosis testingstudy notes, videos,
appraisal questions; tracksvia diagnostics
Complete mockexam on learning
portal
Candidate receivesresult by email within 24
hours
Book “pre-approved”exams on exam booking
site, choose time andlocation
Candidate sits exam at acomputer based test
centre
3
Knowledge | Skills | Conduct
CWMA – Technical Knowledge ApproachCWMA Body of Knowledge arranged into 3 distinct exams
Exam 1Financial Markets, Products &
Portfolio Management
Exam 2Client Investment Solutions
Exam 3Regulatory and Wealth Planning
Framework(Swiss or International)
• Asset Classes• Financial Markets• Economics• Foreign Exchange• Portfolio Management• Derivatives• Behavioural Finance
90 Minutes45 Questions
• Investment Funds andClient Advice
• Discretionary Mandates• Advisory Mandates• Alternative Investments• Cash Solutions• Structured Products• Lending Solutions
• Wealth Planning• Risk, Legal and
Compliance• Basic Products• Mortgages
120 Minutes60 Questions
90 Minutes45 Questions
Body of Knowledge
4
Knowledge | Skills | Conduct
Oral Examinations – Sales and Advisory SkillsSimulation of client interview
Information on the scenarioand the client received inadvance
The oral examination will bebased on simulating a clientmeeting for 60 minutes
Candidate assessedusing a definedevaluation sheet andscoring grid
Preparation
Oral Exam
Assessment
Knowledge | Skills | Conduct
SAQ CWMA
The Fitch LearningSolution
SAQ RM Certification: Delivery to Foreign Banks
Fintelligence
Peter Stapfer Oliver Grewe
– Fintelligence – 5
– Fintelligence – 7
– Fintelligence – 14
•
•
•
– Fintelligence – 15
– Fintelligence – 16
– Fintelligence – 17
– Fintelligence – 18
SAQ RM Certification: Delivery to Foreign Banks
Swiss Finance Institute SFI
Gabriela Maria Payer Christoph Gosdenoz Olivia Döll Catherine Lehmann
| May 29, 2017
Swiss Banking School CertificationA smart solution –from the industry for the industry
Dr. Gabriela Maria Payer &
Dr. Christoph Gosdenoz, CFA
Swiss Finance Institute
|
A smart & inclusive offering
May 29, 20172
Swiss Banking School Certification offers banks as well as participants a single point
of contact and provide end-to-end administration services. Using a web-based
portal, the institutions manage assessments, coached distance learning and the
registration processes for exams and optional on-site sessions.
Banking industryBanking industry
Swiss Banking School Swiss Banking School Swiss Banking School Swiss Banking School ---- Certification PortalCertification PortalCertification PortalCertification PortalSwiss Banking School Swiss Banking School Swiss Banking School Swiss Banking School ---- Certification PortalCertification PortalCertification PortalCertification Portal
Self assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessment Distance learning / Distance learning / Distance learning / Distance learning /
instructorinstructorinstructorinstructor----led trainingled trainingled trainingled training
Distance learning / Distance learning / Distance learning / Distance learning /
instructorinstructorinstructorinstructor----led trainingled trainingled trainingled training
Written / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral exams
SAQ certificateparticipants
Skill profiling – professional development of participantsSkill profiling – professional development of participants
|
Optimized exam preparation
May 29, 20173
Our course has been developed to certify client advisors under the norms 1.8
(effective since January 2017) of SAQ:
1. SFI offers the full course and all exams in four languages (German, English, French
and Italian)
2. On our comprehensive e-learning is supported in all languages by forums and
prepares candidates in the most efficient manner for the exams
3. All our class room tutorials are optional, and we offer live online sessions for a
cost efficient preparation
4. SFI has been mandated as an exam institution by SAQ and offers a range of
seminars and courses accredited by SAQ for recertification
5. Together with our partner institutions we offer trainings and exams in all
languages in Zurich, Geneva, Lugano and additional locations
Customized trainings and exams can be developed upon request and will be delivered
on the IT platform and/or the location of your choice.
|
Modularized professional banking education
May 29, 20174
Swiss Banking School Certification
- Wealth Management
- Corporate Banking
- Retail Banking
Deepened technical and products knowledge, individually setup
according to customer needs, role profiles and existing staff
development measures.
Customized
Certification-
concepts
Seamless integration of Wealth Management Advisor
Certification into the current «Swiss Cross-Border Wealth
Management Certification» by SFI.
Cross-Border
Certification
Use earned credit points (ECTS) to continue education with a CAS
in Wealth Management from UZH DBF or a CAS in Corporate
Banking from SFI-UniBE and finally achieve an MAS degree in
Banking or Finance from the SFI-UniBE or UZH DBF.
Academic
Further
Education
|
A customized approach for all segments
May 29, 20175
Swiss Banking IndustrySwiss Banking IndustrySwiss Banking IndustrySwiss Banking Industry
Training
Examination
Swiss Banking School Certification
Assessment
Wealth
ManagementCorporate Clients Individual Clients Private Clients
Wealth
ManagementCorporate Clients Individual Clients Private Clients
Wealth
ManagementCorporate Clients Individual Clients Private Clients
|
Taking the best of three powerful partners
May 29, 20176
1.1.1.1. We have the Knowledge and the Faculty:We have the Knowledge and the Faculty:We have the Knowledge and the Faculty:We have the Knowledge and the Faculty: The institutes combine advanced learning from the young and senior talents, from the academic and the industry side in an unmatched track record of excellence and experience.
2.2.2.2. We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way: This unique partner collaboration allows addressing the different client roles in banking from basic to advanced retail, corporate and wealth management client advisors. A state-of-the-art training platform and digital devices as well as competitive pricing are part of this joint solution.
3.3.3.3. We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:Three key banking educators owned by the private and public Swiss banking industry launch jointly an inclusive training and examination offering providing official client advisor certificates as well as bridging into further education degrees and customized programs.
SWISS BANKING SCHOOL CERTIFICATION
A JOINT OFFERING FOR CERTIFICATION OF CLIENT ADVISORS
SWISS BANKING SCHOOL CERTIFICATION
A JOINT OFFERING FOR CERTIFICATION OF CLIENT ADVISORS
|
Contact
May 29, 20177
Dr. Christoph GosdenozDr. Christoph GosdenozDr. Christoph GosdenozDr. Christoph Gosdenoz
Director Swiss Banking School Certification
Phone: +41 44 254 30 58
E-mail: [email protected]
Olivia Olivia Olivia Olivia DöllDöllDöllDöll
Swiss Banking School Cer+fica+on ─ Geneva
Phone: +41 78 941 65 26
E-mail: [email protected]
Catherine LehmannCatherine LehmannCatherine LehmannCatherine Lehmann
Swiss Banking School Cer+fica+on ─ Zurich
Phone: +41 44 254 30 86
E-mail: [email protected]
Swiss Finance Institute
Walchestrasse 9
8006 Zurich
SAQ RM Certification: Delivery to Foreign Banks
Kalaidos partnerships
Kalaidos: Marco Rüstmann
Genève: Institut Supérieur de Formation Bancaire ISFBFrédéric Kohler Lugano: Centro di Studi Bancari
Alberto Stival, Nadir Rodoni Zürich: Fachschule für Bankwirtschaft
Daniela Stehli
SAQ Zertifizierung im CWMA-Zertifikat:Relationship ManagerInhouse-Seminare & schriftliche und mündlichePrüfungen
Dr. Marco Rüstmann
Leiter Personenzertifizierung, Kalaidos Fachhochschule
Daniela Stehli-Wiederkehr
Inhaberin und Geschäftsführerin, Fachschule für Bankwirtschaft AG
Zürich, 7. Juni 2017
Lernwege zum Zertifikat mit der Fachschule fürBankwirtschaft & der Kalaidos Fachhochschule
Selbststudium
Formen Spezifisch für das Selbststudium entwickelte Lernhefte
Alle Lernhefte als E-Book und als Print verfügbar
E-Learning mit ergänzenden Hilfsmitteln wie Einstufungstests undProbeprüfungen
Sprachen Deutsch, Französisch, Italienisch, neu Englisch ab August 2017
Inhouse-Seminare: Inhalt und Ablauf
Inhalt Repetition der wichtigen Inhalte, verbunden mit praktischen Beispielen
Fragen / Antworten und Diskussion
Wo sinnvoll: Institutsspezifische Inhalte
Kundenanalyse-Prozess
Produkte und Konditionen
Kreditvergabe: Verwendung internes Weisungswesen
Ablauf Wissensvermittlung
Pro Thema: kurze Wissenssicherer
Ende Seminar: Lösen Übungsserie
Inhouse-Seminare: Unsere Erfahrung
Mensch : Mensch – Kommunikation wichtig!
Austausch, Networking mit Kollegen / Dozenten
Lerninhalte: ausgedruckt und bearbeitet
Kundenberater sind in der Regel gut vorbereitet
Prüfungsangst kann reduziert werden
Schriftliche und mündliche Zertifikatsprüfungen CWMA
Wir führen bereits seit zwei Jahren SAQ konforme schriftliche und mündlicheZertifikatsprüfungen durch.
Die schriftlichen Zertifikatsprüfungen im CMWA dauern 300 Minuten.
Wir bieten daher drei Teilprüfungen für dieses Zertifikat an, so dass Sie sichdie Unterlagen für die Prüfungsvorbereitung entsprechen aufteilen können.
In Zürich können Sie alle 6 Wochen schriftliche (Teil-) Prüfungen undmindestens alle drei Monate mündliche Zertifikatsprüfungen bei uns ablegen.
Nach Bedarf organisieren wir zusätzliche mündliche Prüfungen und schriftlichePrüfungen für Firmenkunden.
Unsere Kunden
Bisher erbringen wir bereits umfangreiche Dienstleistungen in der Vorbereitungauf die CWMA & andern Zertifikatsprüfungen und in der Durchführung derPrüfungen in den Sprachen Deutsch, Französisch und Italienisch für zwölfBanken. Es handelt sich um die folgenden Kunden:
die Banques Cantonales Latines mit der Genfer Kantonalbank, BernerKantonalbank, Freiburger Kantonalbank, Neuenburger Kantonalbank,Tessiner Kantonalbank, Walliser Kantonalbank, Jurassische Kantonalbankund Waadtländische Kantonalbank.
die Bank CIC
die Liechtensteinische Landesbank
die Raiffeisen Gruppe
die M.M.Warburg Bank (Schweiz) AG
Rezertifzierung über durch SAQ anerkannte Seminare
Rezertifizierung, alle 3 Jahre, insgesamt24 h, davon 16 h Fachwissen
Unsere Themen (Auswahl)
Regulierung
Compliance / Crossborder
Fintech / Cyber Risk
DCF-Methode
Anlageprodukte
Vielen Dank für Ihre Aufmerksamkeit!
SAQ RM Certification: Delivery to Foreign Banks
12.40-13.30 Networking
Q&A Information Gathering Buffet Lunch