Private Banking Certification: Know Your Client
- Finance & Investment
This programme is conducted on-campus.
To use your SkillsFuture Credit, please submit your claim through our payment portal. Do not submit the claim manually via the SkillsFuture page. Please refer to our step-by-step guide here.
0.5 day
Weekday (9am - 1pm)
Singapore Management University
Who Should Attend
- Assistant relationship managers and wealth professionals advising high net worth clients
Overview
This course aims to give participants a good appreciation of the importance to know your client (KYC), conduct proper KYC, abide by anti-money laundering rules and regulations, ensure proper customer due diligence, and conduct fraud assessments on incoming customers before acceptance.
The goal is for participants not only to conduct proper customer acceptance checking and onboarding, but also to develop a sharp sense of awareness of the suitability of clients for the organisation, and to act as a first line of defense against criminal activities intended to abuse the financial and banking system.
Learning Objectives
- Understand organisational risk management and compliance requirements for fraud, AML, Countering the Financing of Terrorism (CFT), and Proliferation Financing including the methodologies of CFT and Proliferation Financing
- Understand customer fraud practices and trends
- Understand customer onboarding policies and servicing techniques
- Understand key indicators of compliance breaches or suspicious transactions and the fraud risk assessment approaches as well as customer monitoring approaches
- Demonstrate all the abilities in the TSC “Customer Acceptance Checking and Onboarding” at Proficiency Level 3
Assessment
At the end of the course, participants will be assessed on their competencies acquired through the learnings via a quiz.
Participants are required to attain a minimum of 75% attendance and pass the associated assessment in order to receive a digital Certificate of Completion issued by Singapore Management University.
Fee Table
PARTICIPANT PROFILE | SELF-SPONSORED | COMPANY SPONSORED |
Singapore Citizen < 40 years old Permanent Resident
| $342.201 | $342.201 |
Singapore Citizen ≥ 40 years old | $226.202 | $226.202 |
International Participant | $632.20 | $632.20 |
All prices include 9% GST
1 50% IBF-STS funding for Singapore Citizens and Permanent Residents
2 70% IBF-STS funding for Singapore Citizens aged 40 years old and above
For more information, you may refer to this link.
Note: Fees may be subject to change, according to prevailing funding terms and conditions from the Institute of Banking and Finance Singapore (IBF).
With effect from 3 October 2022: IBF-STS funding of training courses under the Critical Core skills and Future-Enabled skills categories will only be available to locals (Singapore Citizens or Singapore Permanent Residents) employed in the financial sector (i.e. by financial institutions or SFA certified FinTech firms).
Please note that the programme fees are subject to change without prior notice.
IBF - STS Funding
Standards Training Scheme
The IBF Standards Training Scheme (IBF-STS) provides funding for training and assessment programmes accredited under the Skills Framework for Financial Services. It is applicable for both Company-Sponsored and Non Company-Sponsored individuals.
For training programmes commencing from 1 Jan 2023:- Individuals must be physically based in Singapore.
- Singapore Citizens and PRs will be eligible for 50% funding of direct training cost.
- Singapore Citizens aged 40 years old and above will be eligible for 70% co-funding of direct training cost.
- Funding amount is capped at S$3,000 per participant per course.
- Course fees subsidies will not apply to self-sponsored individuals who are not employed by financial institutions and Singapore FinTech Association certified FinTech firms for critical core skills (generic /soft skills) and future-enabled skill only courses.
- Trainees are only eligible for a one-time grant of course fee subsidies for the course per calendar year, subject to their successful completion of the course.
Click here for more details.
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*Registration will close 5 calendar days before the course start date, or once the class is full, whichever comes first.
Additional Details
About IBF Certification
This course addresses the following Technical Skill and Competency (TSC) and proficiency level:
- Customer Acceptance Checking and Onboarding (Proficiency Level 3)
Participants are encouraged to access the IBF MySkills Portfolio to track their training progress and skills acquisition against the Skills Framework for Financial Services. You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.
Find out more about IBF certification and the application process here.
