FICS - CEO Industry Dialogue Building a World Class Talent ...

FICS - CEO Industry DialogueBuilding a World Class Talent Pool for the Singapore Financial Industry*21 October 2004

PwC*connectedthinking

Agenda

Objectives of the projectProject approach and methodologyChannels for feedback

Objectives of the project

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Overview of project deliverables

Overarching Competency Standards and Certification Framework

Competency Standards & Certifications for Job Families in the 8 Industry Segments, Aligned With International Best Practices & Endorsed by the Industry

Competency Standards and Accreditation Framework for Financial Training Providers

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Project Parameters

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Competency Skill Sets

Occupational Industry Generic

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Assessment Methodology

FOUNDATION LEVEL

Skills that are a necessarypart of the skill profile ofevery job in the industry

CORE LEVEL

Common and necessarycompentencies across a

range of job positions.

SPECIALISATION LEVEL

Diverse range ofcompetencies needed across

the industry.

Competency Unit BCompetency Unit A Competency Unit C

COMPETENCY STANDARDS(Categories)

eg. Product Knowledge (Occupational)

TRA

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G P

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CERTIFICATION CERTIFICATE OFQUALIFICATION / ATTAINMENT

CompetencyStandardsFrameworkCertificationFramework

Legend

Competency Standards (Units) form the basis of curriculumdevelopment for accredited Training Packages and

Workplace Recognition of skills.

GenericCompetencies

IndustryCompetencies

OccupationalCompetencies

CERTIFICATION CERTIFICATE OFQUALIFICATION / ATTAINMENT

CompetencyStandardsFrameworkCertificationFramework

Legend

Competency Standards form the basis of curriculumdevelopment for accredited Training Packages and

Workplace Recognition of skills.

CERTIFICATION- Curriculum based

- Licensing- Professional

- W orkplace Experience- CPD Lifelong Learning (Structured / Unstructured)

Examinations;Exemption, Entry,Proficiency

Attendance Interviews &Observations Projects

360 degree feedbackPsychometric Test Workplace Assessor Assessment Centre

An Overarching Competency and Certification Framework

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Key features of the proposed overarching framework

• Benchmarked to international best practices

• Flexible, practical and easy to implement

• Provides opportunities for mobility between industries

• Facilitates career progression

• Allows for recognition of prior learning

• Proper linkage to certifications or other continuing professional development activities

• Integrated and standardised across the financial services industry

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• Gen

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• Occ

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onal

Deg

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9 Market Segments *

• Corporate Banking• Corporate Finance• Financial Markets• Fund Management• General Insurance• Life Insurance• Wealth Management• Compliance & Risk Management• Financial Training Providers

*

• Manag

erial

• Superv

isory

• Operat

ional

Occup

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al Le

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Type

of C

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Dimensions of the Overarching Framework

Project approach and methodology

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Approach and methodology

APPROACH METHODOLOGY

Benchmarked against leading global financial markets e.g US, UK & Australia and industry practitioners

REFINEPreliminary Work

DEVELOPJob Families, Competencies,

Certifications

RESEARCH & VALIDATEInternational Best Practices

Consult industry practitioners & experts

Conduct one-one-one interviews with industry experts

ENDORSEMENTBy Industry

REVIEWREFINE

COMPLETE

Seek industry feedback e.g via focus groups, market surveys, one-on-one consultations, workshops and website

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Industry discussions and consultations

FICS Working Groups• Wealth management• Fund management• Corporate finance• Corporate banking• Financial markets• Life insurance• General insurance• Compliance and risk management• Financial training providers

Industry consultations

Focus group meetings

Questionnaires

Interviews

On-line feedback

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Where are we now?

• Completed PHASE 1 of the Project, which is the development of an overarching competency and certification framework

• PHASE 2 will drill down to the details at each Industry Group level to identify appropriate competency and certifications for various job families in that sector

• Project completion is targeted for late Q2 2005

Channels for feedback

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Feedback mechanisms

Write in to: [email protected]

Raise issues/comments up to the respective Industry Working Groups

Contact one of our Project members:• Alywin Teh (6236 4383, [email protected])• Khoo Wei Lii (6235 4299, [email protected])• Sharon Woo (6236 4090, [email protected])

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