Accord Conference
Bristol
April 2012
Anne Kiem
Chief Executive
Institute of Financial Services
www.iofs.org.uk
About the Institute
 a division of the ifs School of Finance
 a not-for-profit professional body and registered charity,
incorporated by Royal Charter
 recognised as an awarding organisation by Ofqual
 the only specialist financial education body with Taught
Degree Awarding Powers
 has a remit to provide the financial services industry with a
skilled and competent workforce while also promoting a
better understanding of finance amongst consumers.
Evolution
The ifs today
Higher
Education
Professional
Qualifications
Executive
Education
Regulatory
Qualifications
Financial
Capability
A business
school for
Finance
Alumni /
Membership
Why am I here?
Conversation with
Who is the odd one out?
Adam
Applegarth
Fred Goodwin
Sir Terry
Wogan
Who is the odd one out?
Solicitor
Electrician
Plumber
Accountant
Bank Manager
Chef
Dentist
Gas fitter
The role of education in retail financial services
• gives firms confidence that staff are fully aware of, and acting
in accordance with, their regulatory responsibilities and
limitations
• gives employees confidence in their abilities and empowers
them to seek the best outcomes for customers based on the
consumers circumstances
• gives customers confidence that their needs are being dealt
with by competent, knowledgeable qualified banking
professionals
The role of education in retail financial services
• ensures that staff are fully conversant with processes and
rules
• better embeds the knowledge and delivery of best practice
• enhances employees’ industry knowledge and appreciation
of customer needs
• identifies staff with talent and enables them to develop to
their full potential
Institute Qualifications and Progression
Chartered Fellow
Chartered Associate
Certificate in Retail Banking
Conduct of Business
• a professional qualification specifically
designed to support customer facing staff
• embeds understanding of the FSA's Retail
Banking Conduct of Business and payment
services regulations
• equips customer-facing staff with essential
knowledge of the financial services
environment and the key principles of
providing customer service excellence
Certificate in Retail Banking
Conduct of Business
Course content
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the different types of retail banking customers and their needs
the sources of guidance and information for retail banking customers
the financial services environment
relevant legislation and regulations and how they impact retail banking
the main retail banking products and delivery channels
the key principles of lending
the importance of delivering effective customer service and its impact
on customer retention
• selling in retail banking
Diploma in Retail Banking
Conduct of Business
• for those managing customer facing teams
• enhances understanding of retail banking and its role
within the wider financial system
• develops a detailed appreciation of the products
available to consumers and the principles of customer
service best practice
• enhances management skills and knowledge and acts
as a means to career progression
• offers credits in to first year of the degree programme
Diploma in Retail Banking
Conduct of Business
Course Content
• the role of financial services in society and the economy
• key legislative, regulatory and risk factors
• implications and operational implementation of BCOBs and
payment services regulations
• customer service principles and practice
• customer-centric delivery channels and strategies for managing
customer relationships
• the changing role and format of retail financial services and the
interplay with ethics, consumer confidence and commerciality
Certificate in Business
Banking & Conduct
• for customer facing professionals involved in
lending to businesses
• enhances understanding of the conduct of
business regime in relation to business banking
• develops understanding of the key processes
and information needs related to making
lending decisions
• enhances business development, relationship
management and customer service skills
Certificate in Business Banking & Conduct
Course Content
• the business banking environment and principles of risk
management and lending
• the main types of business banking products
• identifying and evaluating appropriate customer solutions
• the application of BCOBs to business banking situations and
appropriate complaints handling processes
• principles of customer service excellence and effective approaches
towards relationship management
Studying
• all qualifications are studied via distance learning
• comprehensive learning support package provided, including
access to extensive online student resources
• assessed mostly by multiple-choice examination with written
exams for higher level papers (Diploma)
• examinations delivered electronically with results given
immediately
In summary
Benefits for the organisation
• development of staff in a consistent manner
• improves customer satisfaction & confidence and can
reduce complaints
• helps meet regulatory requirements
• sets a benchmark
• cost effective and flexible delivery
In summary
Benefits for the individual staff member
• increased confidence in their role
• a portable, externally benchmarked and industry recognised
qualification
• pathway to higher studies and potential career progression
• illustrates a commitment to your employer, career &
personal development
Thank you. Questions?
Anne Kiem
Chief Executive
Institute of Financial Services
www.iofs.org.uk