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Banking qualifications gap plugged by FINSIA’s new professional training courses

by Lewis Panther | 27 Sep 2018
Professional qualifications that can take bankers from ground level all the way up to the C-suite are now available for the first time in Australia. 500 FINSIA’s full range of aspirational and practical banking qualifications plugs professional training gap for the first

The launch of Certified Professional Banker and Chartered Banker by Experience means that FINSIA is now providing across-the-board, standard-setting courses for the whole industry.

Head of Standards and Education Kylie Blundell said the fact that we are seeing our first graduates of the Professional Banking Fundamentals course, which was launched in May, is proof members of the industry have an appetite to restore pride and recoup public trust.

With hundreds more set successfully complete the PBF over the coming months, FINSIA is now striving to help the industry achieve even higher goals, she added.

“To be blunt, we are plugging a gap. We did an extensive study of the Australian market and identified the need for specific and relevant qualifications in banking,” explained Blundell.

“So we have put together a full suite of practical qualifications designed by industry practitioners for industry practitioners."

“They’re in-depth and rigorous but can be taken as part of an institution’s sponsored program or individual’s daily working regime."

“The beauty of these programs is how easily they can be integrated into a bank’s existing learning and development frameworks."

“Some of them can be completed as stand-alone modules or as an alternate entry point to achieve the Chartered Banker status."

The fact there are more than 8,000 Chartered Bankers globally but no requirement for professional qualifications in Australia shows how the country lags behind.

And as FINSIA’s overarching aims to increase professionalism in the industry include a fundamental improvement in practical skills and continual assessment, introducing more finely tuned qualifications is a natural step forward, according to Blundell.

Blundell added: “It’s not just a case of getting ahead of the outcomes of the Royal Commission. FINSIA believes on-going learning and development is crucial for people who are ambitious and driven."

“That said, it has never been a more important time to improve standards through improved education and training.”

At the heart of FINSIA’s approach is the focus on the individuals in the financial services sector to improve their skills and expertise, standards and ethics and sense of duty to society. 

“This model of individual accountability can restore community trust in banks,” she says.   
“Completing these courses successfully demonstrates your ethical and core banking skills.”

The internationally-recognised online PBF course, which gives an overview of the banking industry along with the key principles of ethical behaviour, generally takes new entrants to the industry three to six months to complete.

CPB has two compulsory modules in Risk Management and Ethical Decision making and optional modules in Business Banking, Consumer Credit and Banking Operations and Technology. Delivered online, students have up to 12 months to complete each module. 

Blundell went on: “Certified Professional Banker is one of the few banking qualifications that is targeted at middle managers and above.

“The other thing that is of benefit with CPB is that you can take individual modules.
“So if you want people to be trained in their roles this is a great thing to provide a higher level of complexity.

“If there is internal training that you do, we can provide credits for other modules as well.
“If you don’t meet the educational requirements for Chartered Banker then CPB will provide you with an entry level into it. 

“There are benefits in these qualifications for the individual and businesses and their development plans. It helps with staff retention and talent management.”

The Chartered Banker is the gold standard in banking, recognised as the highest level of excellence. It is available to experienced industry professionals with at least 10 years business experience, including five years relevant banking and financial services experience.




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