FAA-ACD-GDL-01CPD-1 · A FAA-ACD-GDL-01CPD-1.0. 6.0 Allocation of CPD Points GUIDELINES FOR CONTINUING PROFESSIONAL DEVELOPMENT PRESENTATION AND CONTRIBUTION Presentations and contributions

FAA-ACD-GDL-01CPD-1.0

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GUIDELINES FOR CONTINUING PROFESSIONAL DEVELOPMENT

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Abbreviations and Glossary 3

1. Introduction to Finance Accreditation Agency (FAA) 5

2. Purpose and Scope of this Document 6

3. Definitions of Continuing Professional Development (CPD) 6

4. Benefits of CPD 7

5. Scope of CPD Points 8

6. Allocation of CPD Points 9

7. Contact Us 12

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GUIDELINES FOR CONTINUING PROFESSIONAL DEVELOPMENTGUIDELINES FOR CONTINUING PROFESSIONAL DEVELOPMENTGUIDELINES FOR CONTINUING PROFESSIONAL DEVELOPMENT

AccreditationAn FAA process to recognise that the teaching, learning and all other related activities of a learning programme provided by the financial services industry training providers meet the LPC and are in compliance with the FQF as well as the FSI requirements.

Accredited Learning ProgrammeRefers to the formal recognition granted to a particular learning programme that meets the LPC as specified in the FQF.

CPDRefers to Continuing Professional Development. CPD is a lifelong learning process where people maintain and enhance their ability, skills and knowledge related to their profession.

ConferenceGenerally refers to a formal meeting of people with a shared interest, exchange of information or discussion on a specific title with a formal agenda. It often features keynote presentations delivered to all participants as well as multiple breakout sessions. Participants are expected to receive information about current industry trends and developments.

CertificationA formal procedure by which the registered training provider of the financial services industry assesses and verifies the components of learning programmes against the criteria set in accordance with the FQF that lead to a particular certification and/or designation for practice.

FAARefers to the Finance Accreditation Agency.

Financial Services Industry PersonnelGenerally refers to as employees engaged by the financial services industry. Many of the employees are also beneficiaries of the learning programme either on the basis of voluntary or required participation. Employees may register and attend learning programmes that are technical, behavioural or developmental in nature and which result in the development of a specific or generic competency or set of competencies.

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FQFRefers to the FAA Quality Framework. The framework is a major component of the quality assurance and accreditation initiatives of FAA by which the LPC are established.

LPA Refers to Learning Programme Accreditation.

LPCRefers to the Learning Programme Criteria established by FAA. It is according to these criteria that learning programmes submitted for FAA accreditation are evaluated.

Professional body A non-profit organisation that caters to the interests of a particular profession is termed a professional body or a professional organisation. This professional body responds to the interests of the members in the organisation and also to the people that are related to that particular profession. The term professional body used in this document is restricted to those in the financial services industry.

Registered Training Providers (RTP)Refers to the financial services industry training providers registered with FAA. The registered training providers refer to establishments such as training institutes, institutions of higher learning and the training departments of banks, insurance companies, capital markets etc. incorporated within or outside Malaysia which offer learning programmes to the Malaysian financial services industry personnel within or outside Malaysia. In this document, “financial services industry training providers” and “training providers” denote the same meaning and are used interchangeably.

SeminarRefers to a meeting for discussion by a small group of people on a particular topic. It is considered a learning educational event that features one or more subject matter experts delivering information primarily via lectures, discourses and discussion.

WorkshopRefers to a meeting at which a group of people interact and engage in intensive discussion and activities on a particular topic. Workshop often involves participants gaining new knowledge and skills, and using these to resolve actual work-related activities to acquire hands-on experience.

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Intro

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The Finance Accreditation Agency (FAA) was established in August 2012 with the support of Bank Negara Malaysia and Securities Commission Malaysia to govern quality learning for the financial services industry (FSI).

The inception of FAA complements the Financial Sector Blueprint 2011-2020 of Bank Negara Malaysia and the Securities Commission Malaysia’s Capital Market Master Plan 2 with clear emphasis on enhancing the skills and competencies of the existing workforce to enable them to perform in a more competitive and globalised environment. This is achieved through meeting the rigorous standards in delivering learning programmes or qualifications with clear learning outcomes that are relevant to the needs of the FSI professionals.

To achieve this objective, FAA deploys its FAA Quality Framework (FQF) as the foundation for quality assurance and accreditation of adult learning. In addition, the FQF serves as a point of reference for the criteria and requirements for qualifications in the FSI. Further information on the FQF and its related Learning Programme Criteria are depicted in the Learning Programme Accreditation (LPA) Manual.

Readers are directed to the website of FAA at www.faa.org.my for background of FAA, the LPA Manual, quality assurance and accreditation processes and procedures. A list of accredited learning programmes can also be found from the website of FAA.

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This document is developed by FAA as a guide for the training providers related to the FSI to apply for Continuing Professional Development (CPD) points for the approved and/or accredited learning programmes offered. Assessments for other learning activities that are not related to the accredited learning programmes are beyond the scope of this document.

In addition, it serves as a point of reference for professional bodies, practitioners and regulators in the FSI on the allocation of CPD points for various learning activities. This document does not in any way intend to decide on the allocation of CPD points to individual practitioners in the FSI. Rather, the final decision shall reside in the respective professional bodies and/or regulators.

Readers are directed to the criteria developed by respective professional bodies and/or regulators.

Renewal of professional memberships and/or licensing is subject to the requirements of respective professional bodies and/or regulators.

Continuing Professional Development (CPD) has been widely defined as a structured approach to learning to help broaden competence to practice, taking into account the enhanced knowledge, skills and practical experience.

CPD can either be a formal and structured or informal and self-directed activity.

The terms CPD and Continuing Professional Education (CPE) are used interchangeably.

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To the professional bodies and regulators, the guidelines facilitate monitoring of the range of CPD activities and standardise the allocation of CPD points. Beyond that, it also enables the professional bodies and/or regulators to streamline their CPD activities where CPD points awarded by one professional body, regulator or sector is recognised and accepted by another in areas relevant to the FSI. The professional bodies and/or regulators are encouraged to determine the weightage of each of the scope of CPD activities in order to ensure that the FSI members continue to update their skills and knowledge through a more holistic and meaningful manner.

To the training providers, the guidelines benefit them in the design, development and delivery of quality learning programmes in accordance to the range and criteria of different CPD activities based on the CPD points allocated, keeping in mind that the ultimate objective is to ensure that the FSI members remain professionally competent as a result of the competencies gained from the learning programmes offered.

To the FSI personnel, by completing a learning programme accredited by FAA, a practitioner can be confident of the consistency in quality and standards inherent in a learning programme which is deemed to have been benchmarked against global and/or best practices. As such, the CPD points gained are accepted by the professional bodies, regulators and the FSI in general.

The CPD guidelines which are benchmarked globally will facilitate the mobility of FSI members regionally and internationally. This will position Malaysia as a competitive and global talent development hub.

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Following are the activities that would contribute towards the attainment of CPD points:

Formal• Courses provided through accredited post-secondary institutions such as universities, technical institutes and colleges;• Employer training programmes and structured on-the-job training; and/or • Short courses, training sessions, conferences, seminars and workshops provided by financial or educational institutions, professional bodies, industry or other relate institutions.

Informal• Self-directed study, e.g. private reading including current technical, managerial and business journals, preparation for examinations, informal group discussion etc.

Participation • Coaching/mentoring/tutoring others;• Attendance at meetings of technical, professional or managerial associations or societies; and/or• Professional activities in the community, e.g. serving on community boards or committees in a professional capacity.

Presentation and Contributions • Development of published materials; • Conducting research and developing new ideas; and/or• Providing training/facilitating training or seminars

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FORMAL

Learning programmes attended(Professional training / in-house training / seminar / workshop)(including face-to-face, e-learning and other modes of delivery)

1 point for each hour for a maximum of 10 points per learning programme attended(not inclusive of break time)

General Criteria:- Training provider (TP) must be registered with FAA- Learning programmes must be approved / accredited by FAA- At least 90% attendance is compulsory (TP to take attendance on regular intervals)- Records of assessment of participants (if applicable)- Participants can only claim the CPD points once for the same programme throughout their professional tenure unless otherwise decided by the respective professional body / regulator

Evidence: Certificate and proof of attendance

General Criterion:- Conference must be endorsed / recognised by professional body / regulator

Evidence: Certificate / proof of registration / statement of attendance

5 points for each day for a maximum of 10 points3 points for half day

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10Conference

Learning Activity

Maximum CPD Points (Per Annum)

CPD Points

General Criteria / Evidence

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FORMAL (cont’d)

INFORMAL

Recognised academic / professional qualifications(including face-to-face, e-learning and other modes of delivery)

10 points for each year the qualification is obtained

General Criterion:- Academic / professional programmes accredited by the authorities / FAA

Evidence: Certificate / letter of completion from the respective institution

Evidence: article / book summary and statement of outcomes achieved

Evidence: Minutes of group discussion signed by every member present

1 point for each article / book on related area

1 point for each group discussion on related area

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PARTICIPATION

Coaching / mentoring / tutoring 1 point per session Evidence: Record of hours including nature of activity, diarised activities and statement of outcomes achieved and signed by both parties

5

Participation in professional associations(Member of an Industry Board, Council or Committee)

5 points per year per Committee Evidence: Confirmed minutes of meetings5

5Self-directed study

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PRESENTATION AND CONTRIBUTION

Presentations and contributions to knowledge preparation

Notes:

All learning activities should be relevant to areas of work of the participant as defined by the respective professional bodies and/or regulators.

Publication and research

Training / facilitation

5 points awarded for every presentation(points are awarded for each contributing author)

5 points for each article published

1 point for each training / facilitation hour for a maximum of 5 points per training / facilitation

General Criterion:- Repeated activity of the same material will not be counted

Evidence: Confirmation of registration as speaker or copy of programme booklet / proceedings

General Criterion:- Trainer / facilitator can only earn the points once for each programme

Evidence: Appointment letter as a trainer or facilitator or copy of programme booklet / proceedings

Evidence: Article in its published form

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FINANCE ACCREDITATION AGENCY12-1 Level 12, Tower 3 Avenue 7The Horizon Ph 2, Bangsar SouthNo. 8, Jalan Kerinchi59200 Kuala LumpurMalaysia.Tel: +603-2788 1212Fax: +603-2788 1200E-mail: [email protected]: www.faa.org.my

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Documents

FAA-ACD-GDL-01CPD-1 · A FAA-ACD-GDL-01CPD-1.0. 6.0 Allocation of CPD Points GUIDELINES FOR CONTINUING PROFESSIONAL DEVELOPMENT PRESENTATION AND CONTRIBUTION Presentations and contributions