Terms & Conditions

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IBF Certification
Terms & Conditions

Introduction

1.1 The Skills Framework for Financial Services provides key information on sector, career pathways, occupations/job roles, as well as existing and emerging skills. They are designed to help financial practitioners to plan for their career progression and to identify skills needed in current or new job role.

1.2 Programmes accredited under the Skills Framework for Financial Services offer financial practitioners a comprehensive suite of training and assessment programmes to guide them from licensing examinations on through to certification across 3-levels. It provides financial practitioners and new entrants with a practiceoriented development roadmap to attain the necessary training to excel in their job roles.

1.3 Applicants who are successful in their certification application will be awarded a certificate with specification of the certification title and industry segment. Certified individuals will be authorised to use the professional certification titles ““IBFQ”; or “IBFA”; or "IBF Fellow"; or "IBF Distinguished Fellow" depending on the level of certification. The same certification mark will be used for certification at all industry segments and roles.

1.4 By submitting an application to be certified for any of the above certification titles, the Applicant is deemed to have read and accepted the certification terms and conditions. All applicants who have been successfully certified are subject to the provisions of the Terms and Conditions stated herein.

1.5 The Institute of Banking and Finance (IBF) reserves the rights to amend, vary or modify the terms and conditions at its sole discretion from time to time, with or without notice.

Undertakings by IBF Certified Individuals

The IBF Certified Individual shall undertake to:

2.1.1 Comply with the terms and obligations set out in the Terms and Conditions contained herein;

2.1.2 Observe the Code of Ethics and Standards of Professional Conduct set out in Annex 1;

2.1.3 Maintain proper evidence and documentation to support the fulfilment of Continuing Professional Development (CPD); and

2.1.4 Cease the representation of the use of the professional certification titles once the validity date has expired without successful renewal or when the status is terminated, suspended or revoked.

Audit

The IBF Certified Individual is subject to audit by IBF prior to certification and recertification status. The purpose is to ensure that the certification criteria and Terms and Conditions contained herein are adhered to. The following shall apply:

3.1.1 Certification status Submit all required documents to support the fulfilment of the certification requirement. Where submission is not complete, certification status will not be awarded. Successful completion of IBF accredited programmes alone does not tantamount to successful certification application.

3.1.2 Maintenance of Certification status The certification status shall be maintained upon fulfilment of the Continuing Professional Development (CPD) requirements as set out in Paragraph 4.

CPD Obligations

4.1 The IBF Certified Individual is expected to keep their knowledge and skills current with the industry and regulatory developments. All IBF Certified Individuals are required to achieve a minimum of 15 CPD hours annually which will commence from the year following the year of certification.

4.2 The annual CPD activities prescribed should cover content that are directly relevant to the financial industry, which may include: (a) Ethics / Market Conduct requirements; (b) Product knowledge; (c) Skills / competencies; and/or (d) Rules and Regulations / Compliance-related matters

4.3 A wide variety of CPD activities will be recognized under the following broad categories and as described in the table below: (a) Training & Education; (b) Instruction; (c) Leadership; and (d) Research & Publication

Renewal

Fees

Termination, Suspension and Withdrawal

Confidentiality

Personal Data Protection

Use of the Certification Title

Exclusion/Limitation of Liability

Representations and Warranties

Force Majeure

Variation

Annex 1

IBF Certification: Code of Ethics and Standards of Professional Conduct

An IBF Certified Individual shall at all times abide by the following Code of Ethics and Standards of Professional Conduct:

Uphold Integrity, Ethics and Professional Competence. Act with integrity, professional competence and in an ethical manner when dealing with the public, business community and fellow financial practitioners.
Knowledge and Compliance of Law. Comply with all applicable laws, rules and regulations (including this Code of Ethics and Standards of Professional Conduct) of any government bodies, regulatory and licensing bodies, or industry associations governing the financial practitioners’ professional activities.
Independence and Objectivity. Use reasonable care and judgement to achieve and maintain independence and objectivity in your professional activities.
Fair Dealing. Deal fairly and objectively with all clients and stakeholders when providing any business recommendations or engaging in other professional activities.
Disclosure of Conflicts. Make full and fair disclosure of all matters that may impair your independence and objectivity or interfere with respective duties to their clients, prospective clients, and employer.
Reference to IBF and Certification Title. Use the professional certification titles in a proper and judicious manner. Any explanation about one’s professional certification title should be based on the certification requirements as published on the IBF’s website.
Continuous Professional Development. Strive to maintain and upgrade your professional competence to ensure that knowledge and skills are kept current.
Industry Development. Be committed to the development of the financial industry and enhancing the competency of the financial practitioners by standing ready to serve and participate actively to promote industry initiatives.
Professional Representation. Must not knowingly make any misrepresentations relating to any business recommendations, actions, or other professional activities.
Fit and Proper Conduct. Must not engage in any professional conduct involving dishonesty, fraud, or deceit or commit any act that does not reflect well on your professional reputation, integrity, or competence.
Conduct as an IBF Certified Individual. Must not engage in any conduct that compromises the reputation and integrity of IBF and the IBF Certification Title.

IBF. Elevating Individual Competencies. Raising Industry Standards.