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What you need to know about Investment Operations Certificate (IOC)
The IOC is the CISI’s most established qualification and is taken by practitioners globally to
enhance their knowledge and skills of the administration and operations areas of the financial
services industry.
The qualification will provide you with an overview of the financial services industry and its
regulation, whilst also covering technical activities which are relevant to the area in which you
work.
It is achieved by passing any three units from an offering of more than 12 introductory,
regulatory and technical units, providing you with great flexibility. You can choose what you
want to study and you can study at a time and pace which is convenient.
How is the qualification structured:
(1) Introductory units
• Introduction to Securities and Investment
• International Introduction to Securities and Investment
(2) Regulatory units
(3) Technical units
• Asset Servicing
• Client Money and Assets
• Collective Investment Schemes Ad-ministration
• Combating Financial Crime
• Derivatives Operations
• Global Financial Compliance
• Global Securities Operations
• IT in Investment Operations
• Managing Cyber Security
• Operational Risk
• Pensions Administration
• Risk in Financial Services
Who should attend:
The IOC is the first step in the CISI’s operations qualification pathway and is suitable for all staff
working in, or aspiring to work in, the administration and operations areas of financial services.
The qualification is increasingly used as a benchmarking tool by major banks and investment
firms to ensure that staff possess practical knowledge which can be immediately applied to
business activities.
Introduction to Securities and Investment
This unit of the Capital Markets Programme provides those advising and / or dealing in derivatives
with the knowledge and skills required for their jobs roles.
The objectives of the examination is to provide candidates with a basic introduction to the financial
services industry with a focus on investments.
Syllabus Summary:
Introduction
Economic Environment
Financial Assets and Markets
Equities
Bonds
Derivatives
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or
principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Be able to apply Require candidates to be able to apply their knowledge to a given set of
circumstance in order to present a clear and detailed explanation of a situation, rule or
principle.
Assessment:
The Introduction to Investment is assessed via a one-hour exam consisting of 50 multiple-
choice questions.
Candidates sitting the examination by computer based testings may also be asked to answer
up to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Investment Funds
Financial Services Regulations
Taxation, Investment Wrappers and Trusts
Other Financial Products
Financial Advice
International Introduction to Securities & Investment
A stand-alone global qualification as well as a unit within the Investment Operations Certificate
(IOC) programme, this exam has been specifically designed to meet the needs of new entrants to
the global investment industry. Focusing on international markets, it provides an overview of all
areas of investment.
The objective of the examination is to provide candidates with a basic introduction to the financial
services industry with a particular focus on investments.
Syllabus Summary:
Introduction
Economic Environment
Financial Assets and Markets
Equities/ Stocks
Bonds
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Assessment:
The Introduction to Investment is assessed via a one-hour exam consisting of 50 multiple-choice
questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Derivatives
Investment Funds
Financial Services Regulations
Other Financial Products
Qualification Fee
Stakeholders Non-stakeholders
UK Financial Regulation
This unit ensures candidates have an understanding of the regulations and legislation that underpin
financial markets in the conduct of investment business in the UK.
The objective of the examination is to ensure candidates have a basic knowledge of the regulations
and legislation underpinning the financial markets and the conduct of investment business.
Syllabus Summary:
The Regulatory Environment
The Financial Services and Markets Act 2000 and Financial Services Act 2012
Associated Legislation and Regulation
The FCA Conduct of Business Sourcebook / Client Assets
Complaints and Redress
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or
principles.
Assessment:
A 1 hour 30 minute examination of 75 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to
answer up to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 90 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Asset Servicing
This exam provides candidates with a sound understanding of the fundamentals of asset servicing in
relation to operational and administrative functions.
The objective of the examination is to ensure that candidates have a sound understanding of the
fundamentals of asset servicing as far as this relates to the needs of operations and administration
staff. By heightening the candidates' knowledge of core and surrounding areas to their day-to-day
role, the examination aims to educate the candidate thereby reducing risk to the firm and
ultimately the consumer.
Syllabus Summary:
Introduction to Collective Investment Schemes
Regulatory Controls
Constitution
Roles and Responsibility
Investment and Borrowing Powers
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Assessment:
A one-hour, 50 multiple-choice question exam.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Investor Transactions
Registration and Settlement
Distribution of Income
Investor Communications
Taxation
Qualification Fee
Stakeholders Non-stakeholders
Collective Investment Schemes Administration
The objective of the examination is to ensure that candidates have an introduction to Collective
Investment Schemes as far as this relates to operations and administration staff.
Syllabus Summary:
Introduction to Collective Investment Schemes
Regulatory Controls
Constitution
Roles and Responsibility
Investment and Borrowing Powers
Investor Transactions
Registration and Settlement
Distribution of Income
Investor Communications
Taxation
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or
principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Be able to apply Require candidates to be able to apply their knowledge to a given set of cir-
cumstance in order to present a clear and detailed explanation of a situation, rule or princi-
ple.
Assessment:
A 1 hour examination of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer
up to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Qualification Fee
Stakeholders BND 655.00
Non-stakeholders BND 720.00
Combating Financial Crime
The objective of the examination is to ensure that candidates have a basic knowledge of the
regulations and practices related to combating financial crime
Syllabus Summary:
The Background and Nature of Financial Crime
Money Laundering
Terrorist Financing
Bribery and Corruption
Fraud and Market Abuse
Facilitation of Tax Evasion
Financial Sanctions
Financial Crime Risk Management
The Role of the Financial Services Industry
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Assessment:
A 1 hour examination of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer
up to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Derivatives Operations
The objective of the examination is to ensure that candidates have a basic introduction to Exchange
-Traded and Over-The-Counter Derivatives Administration as far as it relates to the needs of
operations and administration staff.
Syllabus Summary:
Introduction
Futures
Options
OTC Derivatives
Exchange-Traded Environment
Clearing
Regulation and Compliance
Risks and Controls
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Be able to apply Require candidates to be able to apply their knowledge to a given set of cir-
cumstance in order to present a clear and detailed explanation of a situation, rule or princi-
ple.
Assessment:
A 1.5 hour examination of 75 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 90 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Global Financial Compliance
The Global Financial Compliance qualification is a comprehensive global introduction to all the is-
sues a global compliance officer may encounter
Syllabus Summary:
The International Regulatory Environment
The Compliance Function
Managing the Risk of Financial Crime
Ethics, Integrity and Fairness
Governance, Risk Management and Compliance
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Assessment:
A 2 hour examination of 100 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 100 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Global Securities Operations
Global Securities Operations is one of 15 technical units available as part of the Investment
Operations Certificate (IOC) which has more than 12,000 exams taken annually worldwide. The unit
offers an introduction to global securities, focusing on the main industry participants, settlement
characteristics, other investor services and aspects of taxation and risk.
The objective of the examination is to ensure that candidates have an introduction to global
securities services and administration as far as this relates to the needs of operations and admin-
istration staff.
Syllabus Summary:
Securities
Main Industry Participants
Settlement Characteristics
Other Investor Services
Aspects of Taxation
Risk
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Assessment:
A one-hour, 50 multiple-choice question exam taken by computer based testing (CBT).
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 90 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
IT in Investment Operations
ITIO has been developed for IT staff working in financial services, who wish to develop their
knowledge and understanding of IT needs specific to the financial services arena. The securities
sector is dependent on technology and this qualification aims to address the challenges of
managing IT systems and covers best practice techniques used in the profession.
The objective of the examination is to provide candidates with an understanding of how the role of
IT relates to investment operations.
Syllabus Summary:
Information Technology in the Securities Industry
The Regulatory Framework
IT and the Functional Flow of Financial Instruments
The Role of IT in the Front Office
The Role of IT in the Pre-Settlement Phase
The Role of IT in the Settlement and Post-Settlement Phases
The impact of IT on Financial Control
IT Management
Managing Business Change
IT Services Procurement
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Assessment:
Assessment is a 1 hour examination of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 90 hours qualification time.
Qualification Fee
Stakeholders
BND 655.00
Non-stakeholders
BND 720.00
Managing Cyber Security
The purpose of this unit is to provide candidates with a basic understanding of the threat of
cybercrime in the financial services industry, associated risks and how it can be managed.
The objective of the examination is to ensure that candidates have a basic knowledge of the threat
of Cybercrime and are able to evaluate the risks to the financial services industry thus enabling the
development of effective security solutions to prevent, detect and mitigate cyber-attacks.
Syllabus Summary:
The background and nature of information security and Cybercrime
The legislative environment
The public-private interface
Cybercrime and the Financial Services Industry
Combating Cybercrime
Trends in Economic Crime Compliance
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Assessment:
Assessment is a 1 hour examination of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Operational Risk
The purpose of this unit is to provide candidates with a basic understanding of the threat of cyber-
crime in the financial services industry, associated risks and how it can be managed.
The objective of the examination is to ensure that candidates have an introduction to Opera-
tional Risk.
Syllabus Summary:
Risk Basics
Other Major Risks
The Nature of Operational Risk
The Causes and Impacts of Operational Risk
Operational Risks Arising in the Trade Cycle
The Support and Control Functions
Operational Risk in the Regulatory Environment
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or
principles.
Be able to calculate Require candidates to be able to use formulae to perform
calculations.
Be able to apply Require candidates to be able to apply their knowledge to a given set of
circumstance in order to present a clear and detailed explanation of a situation, rule or
principle.
Assessment:
Assessment is a 1 hour examination of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer
up to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Qualification Fee
Stakeholders
BND 655.00
Non-stakeholders
BND 720.00
Platforms, Wealth Management and Service Providers
The objective of the examination is to ensure that candidates have an introduction to the services
offered by Platforms, Wealth Managers and related Outsource Service Providers as far as this re-
lates to operations and administration staff
Syllabus Summary:
What is a Platform?
Wrappers and Associated Regulations
Transactions and Ownership
Asset Servicing
Emergence of the Platform Model
Regulatory Framework
Taxation
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Be able to calculate Require candidates to be able to use formulae to perform calculations.
Be able to apply Require candidates to be able to apply their knowledge to a given set of
circumstance in order to present a clear and detailed explanation of a situation, rule or
principle.
Assessment:
Assessment is a 1 hour examination of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Client Money and Client Assets
The objective of the examination is to ensure that candidates are introduced to the concepts and
processes required to understand the importance of client assets and how they must be adequately
protected under the FCA’s client assets (CASS) regime.
Syllabus Summary:
Introduction to Client Assets Protection
Scope of the FCA’s Client Assets Regime
Key CASS concepts
Governance and Control Requirements of the CASS Rules
Custody Rules (CASS 6)
Client Money Rules (CASS 7)
Mandates (CASS 8)
Record Keeping and Notification Requirements
Other Relevant Elements (CASS 5 & 9)
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Be able to apply Require candidates to be able to apply their knowledge to a given set of
circumstance in order to present a clear and detailed explanation of a situation, rule or
principle.
Assessment:
Assessment is by a one-hour examination, consisting of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer
up to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Pensions Administration
Pensions Administration is a unit available as part of the globally recognised Investment Operations
Certificate (IOC) which has more than 12,000 exams taken annually worldwide. It will give those de-
veloping a career in this area the knowledge and expertise they need to excel in their role and pro-
gress in their career.
This unit has been designed to provide professionals with the technical knowledge necessary
to succeed in this evolving area and is particularly relevant for practitioners who have been working
in pensions administration or a related area for up to 18 months.
Syllabus Summary:
Background to Pensions
Taxation of Pension Schemes
Transfers In and Out of Pension Schemes
Trustees – Roles and Responsibilities
Administering a Pension Scheme
Key Features:
Know Require candidates to recall information such as facts, rules and principles.
Understand Require candidates to demonstrate comprehension of an issue, fact or principles.
Assessment:
Assessment is by a one-hour examination, consisting of 50 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 80 hours qualification time.
Qualification Fee
Stakeholders Non-stakeholders
Risk in Financial Services
The objective of the examination is to ensure that candidates have a broad understanding of the
general principles of risk in business, the key risks that arise within the financial services industry,
the influence of corporate governance, regulation and codes of conduct, and the approaches that
are typically used to identify, reduce and manage specific aspects of risk.
Syllabus Summary:
Principles of Risk Management
International Risk Regulation
Operational Risk
Credit Risk
Market Risk
Key Features:
Know Require the candidate to recall information such as facts, rules or principles.
Understand Require the candidate to demonstrate comprehension of an issue, fact, rule or
principle.
Be able to calculate Require the candidate to be able to use formulae to perform calculations.
Be able to apply Require the candidate to be able to apply their knowledge to a given set of
circumstances in order to present a clear and detailed explanation of a situation, rule or
principle.
Be able to distinguish Require the candidate to be able to compare and contrast two or more
issues, situations, rules or principles.
Be able to identify Require the candidate to be able to apply their knowledge of rules or
principles in order to categorise one or more issues from a given situation.
Assessment:
A 2 hour examination of 100 multiple choice questions.
Candidates sitting the examination by computer based testing may also be asked to answer up
to 10% of additional questions.
The pass mark for the exam is 70%.
Candidates are recommended a minimum of 100 hours qualification time.
Investment Risk
Liquidity Risk
Model Risk
Risk Oversight and Corporate Governance
Enterprise Risk Management (ERM)
Qualification Fee
Stakeholders Non-stakeholders
/ / Date:
For Office Use Only
Please provide a complete information below
Personal Information
Title Dr / Sir / Mdm / Mr / Mrs /Ms
Name (as appears
on the National
Identity Card)
National Identity
Card/Passport No.
Colour Y / R / G Gender M / F
Nationality Race
Job Title
Department
Organisation Ad-
dress
Contact Inquiry
Contact Number M H
E-mail address
Residential Ad-
dress
Qualification Detail (Please tick [√ ] where applicable)
Qualification Programme Date Stakeholders
Fee √ Non-stakeholders Fee √
1 Introduction to Securities and Investment 16/04/2019 BND 655 BND 720
2 International Introduction to Securities and In-
vestment 23/04/2019 BND 655 BND 720
3 UK Financial Regulation 14/05/2019 BND 800 BND 875
4 Asset Servicing 28/05/2019 BND 655 BND 720
5 Collective Investment Schemes Administration 11/06/2019 BND 655 BND 720
6 Combating Financial Crime 20/06/2019 BND 655 BND 720
7 Derivatives Operations 30/07/2019 BND 800 BND 875
8 Global Financial Compliance 06/08/2019 BND 860 BND 950
9 Global Securities Operations 16/08/2019 BND 655 BND 720
10 IT in Investment Operations 28/08/2019 BND 655 BND 720
11 Managing Cyber Security 04/09/2019 BND 655 BND 720
12 Operational Risk 13/09/2019 BND 655 BND 720
13 Platforms, Wealth Management and Service
Providers 26/09/2019 BND 655 BND 720
14 Client Money & Client Assets 02/10/2019 BND 655 BND 720
15 Pension Administration 12/11/2019 BND 655 BND 720
16 Risk in Financial Services 22/11/2019 BND 800 BND 875
EXAMINATION FORM
INVESTMENT OPERATIONS CERTIFICATE (IOC)
Terms and Conditions:
• CIBFM operates a strict NO CANCELLATION POLICY upon receiving registrations from organisations.
• Payment must be made prior to the commencement of the programme.
• Stakeholders are participants from MOF, AMBD and all domestic banks in Brunei Darussalam.
• Your fee includes exam fee, workbook in pdf format, e-book, access to CISI Revision Express e-learning and e-certificate upon passing the ex-
am.
Please submit your completed form to: [email protected]
Or to address: CIBFM, 3rd Floor, ILIA BUILDING, UBD
/ / Date:
For Office Use Only
EXAMINATION FORM
INVESTMENT OPERATIONS CERTIFICATE (IOC)
Approval Officer: Signature & Stamp
Name
Position
Department
Organisation
