Kaplan

About FICS

Developed by the industry, for the industry, the Financial Industry Competency Standards (FICS) is a structured competency framework comprising of an accreditation and certification system that aims to raise the quality of our financial workforce and training providers.

The FICS framework encompasses job families across all sectors such as Compliance, Corporate Banking, Corporate Finance, Financial Markets, Fund Management, General Insurance, Life Insurance, Private Equity, Risk Management, Securities & Futures and Wealth Management.

With strong support from leading financial institutions and industry associations, as well as the Monetary Authority of Singapore (MAS) and the Singapore Workforce Development Agency (WDA), the FICS is aligned with the structure and requirements of the Singapore Workforce Skills Qualifications (WSQ) system and recognised as the basis for WSQ awards for the financial services industry.

Kaplan Financial CFA® FICS Level I Accreditation
Kaplan Financial has been awarded the FICS accreditation for CFA Level I to deliver high quality training for the following Competency Units (CU) required under the ‘Research’ Job Role IV of the FICS framework.

The ‘Research’ job role refers to the conduct of fundamental analysis on companies globally, providing institutional and retail clients with industry-specific and in-depth research and analysis on diversified industries. By leveraging the breadth and depth of the financial institutions global resources, the research division provides anticipatory, innovative, and differentiated investment ideas that address the needs of investor.

Upon completion of the programme, participants will receive a Certificate of Attendance for the following:

TECHNICAL (OCCUPATIONAL) COMPETENCY
CU1	Perform Research and Analysis
1.1	Gather, review, and analyse key information
1.2	Analyse financial statements
TECHNICAL (INDUSTRY) COMPETENCY
CU5	Acquire and Apply Financial Services Industry and Product Knowledge
5.1	Demonstrate understanding of general principles of financial services and financial services products
5.2	Keep abreast of changes and developments in financial services industry and product knowledge

Benefits for Institutions*

• Provides a structured and objective framework to assess the adequacy of the skill sets of financial practitioners, and channel efforts more effectively to bridge skills gaps
• At a strategic and national level, it helps identify impending skills shortages so that people can be upskilled and trained more quickly to meet future needs
• Staff can know what is expected and how they will be assessed
• Leverage on quality external training programs that have been accredited

Benefits for Individuals

• Obtain personal and professional certification that is recognized by the industry, hence enhancing employability
• Professional development - using the framework as a transparent and structured roadmap to upgrade to higher job levels or to move to new job areas

Funding Support
Funding support is at 90%, capped at S$6,000 per participant per program under the FICS framework (excluding GST and subject to approval). This is regardless of how many competency units are covered in the program.

 

Eligibility Criteria
To be eligible for funding support:

• Participants are required to meet a minimum attendance of 75%
• Funding support will be provided to institutions* that sponsor their staff for FICS accredited programmes as well as non-sponsored individuals# that attend FICS accredited programmes. This is subject to the conditions set out below

 

*    Institutions refer to Singapore-based financial institutions, industry / professional associations and corporates engaged in financial services. The staff that they sponsor can be a Singapore citizen, permanent resident or foreigner, but the person must be based in Singapore, and hold a work position here.
#    Non-sponsored individuals would have to be either Singaporeans or Singapore permanent residents.

Submission of Application for Funding Support

• Participants have to successfully complete the programme before they can apply for funding support
• Application for funding support must be submitted within 6 months from the completion of the accredited training

How to Apply

For institutions who are sponsoring their staff

• For new users, you are required to first apply for a Corporate Claim ID to IBF. Download the request form at http://www.fics.org.sg/download/Funding%20Form.pdf and mail it to IBF


• For subsequent applications, visit http://www.fics.org.sg/application/funding/fundlogin.asp to submit your application

For non-sponsored individuals
Kaplan Financial will submit the application on behalf of the participant.

Fund Disbursement

For institutions who are sponsoring their staff
For claims submitted by the company, the claim amount will be paid by cheque to the applicant organisation.

For non-sponsored individuals
Upon completing at least 75% of attendance, participants can expect the fund disbursement process to take about 30 working days from date of application.

Required Supporting Documents for FICS Funding

1. 1. Course certificate
2. 2. Tax invoice / Official receipt

 

The Institute of Banking and Finance and Kaplan Financial may introduce additional requirements or make changes to the existing requirements without prior notice.