Accord ConferenceBristolApril 2012

Anne Kiem Chief ExecutiveInstitute of Financial Services

www.iofs.org.uk

About the Institutea division of the ifs School of Financea 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

A businessschool for

Finance

FinancialCapability

RegulatoryQualifications

Higher Education

ProfessionalQualifications

ExecutiveEducation

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?

Bank Manager

Chef

ElectricianSolicitor

Dentist

Gas fitter

Plumber

Accountant

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

• 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

The role of education in retail financial services

Institute Qualifications and Progression

Certificate in Retail Banking Conduct of Business

Certificate in Business Banking Conduct

Diploma in Retail Banking Conduct of Business

Professional Certificate in Banking

Professional Diploma in Banking Practice & Management

BSc (Hons.) in Banking Practice & Management

Chartered Fellow

Chartered Associate

MSc in Banking Practice & Management

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• 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

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

In summary

Thank you. Questions?

www.iofs.org.uk

Anne Kiem Chief ExecutiveInstitute of Financial Services