Singapore initiates competency standards
SINGAPORE – The Singapore government, through the Institute of Banking and Finance (IBF), launched the beginnings of a Financial Industry Competency Standards (FICS) programme in early September.
Originally, the IBF provided training to Singapore's financial services industry, but with the entry of several commercial vendors to the market, it decided to refocus its efforts on driving competency standards and accreditation. The body is chaired by the managing director of the Monetary Authority of Singapore, Heng Swee Keat.
The certification is based on specific job functions and job levels – in the programme, there are 52 job functions and up to six job levels for each function. Those
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