SAQ RM Certification Delivery to Foreign Banks · • October 2015 UBS, Credit Suisse and the Banques Cantonales ... January 2018 • International portability of the CWMA certification

SAQ RM CertificationDelivery to Foreign Banks

31 May 2017, Geneva1 June 2017, Lugano7 June 2017, Zürich

SAQ RM Certification: Delivery to Foreign Banks

Welcome / Introduction

11.10-11.30 IntroductionRonny Wallnöfer, SBA

11.30-12.00 TestimonialsCredit Suisse, Julius Bär, UBS; UK

12.00-12.40 PresentationsFintelligence, Fitch Learning, Swiss Finance InstituteKalaidos + Centro di Studi Bancari; Institut Supérieur deFormation Bancaire; Fachschule für Bankwirtschaft

12.40-13.30 Networking


11.10-11.30 Introduction

Ronny WallnöferProject Head Strategy Training / Best Talents, Swiss Bankers' Association- RM Certification: what it is and what it offers, where it comes from, how it compares

internationally.- Certification and Recertification; Swiss and international modules

SAQ Person Certification

2017-05-29Ronny WallnoeferProject Head Strategy Training/Best Talents

• 2010/2012 - SwissBanking discusses the introduction of acertification system for Client Advisors

• 2012 - Non-conclusive decision leads to initiative by UBS to setup a certification system in cooperation with SAQ

• October 2015 UBS, Credit Suisse and the Banques CantonalesLatines agree on the SAQ person certification as a certificationstandard for client advisors. Bank Julius Baer joins soon after.

Seite 2 01.06.2017

Certification System - origins

The SAQ Person certification is about establishingstandards, which provide a constant quality of the «ClientAdvisor Bank» and in doing so set a benchmark and toensure and document the knowledge and skills of the«Client Advisor Bank»

• Content, requirements and qualification procedures and processes for obtainingcertification are defined and developed by the Normative Committee, according to theframework given by the norm ISO 17024

Seite 3 01.06.2017

A standard for professionalisation and excellence –driven by the banking industry

• Current certification programmes CWMA, CCoB, Private Clients, Individual Clients* coverthe client advisor segments

• System offers flexibility for participating banks in regard of scope, content and training

*Affluent Client and SME accreditation by SAS is pending

Normative Committee Technical Boards

Definition and Developmentof Learning Topics

Strategic Level

Normative DocumentationSystemic Level

Normative Base

Examination Regulation

Certification Programmes

Technical conformityDefinition of Normative

Documentation

System Development

• CWMA recommended by SBA as standard for client advisors inprivate banking/wealth management in December 2016

• Content CMWA certification meets MIFID II requirements per 1January 2018

• International portability of the CWMA certification is part of theSwissBanking strategic project «Training/Best Talents»• Focus on MIFID countries, UK, UAE, Singapore, Hong Kong, South Africa

• SwissBanking assesses the recommendation of additional SAQprogrammes

Seite 4 01.06.2017

CWMA recommendation and future development


11.30-12.00 Testimonials

Geneva- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG- Shane Norton, independent adviser

Lugano- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG

Zürich- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG- Oliver Ruch, Programme Manager RM Certifications, Bank Julius Bär & Co. Ltd.- Shane Norton, independent adviser

CWMA application at Credit SuisseFrom

Bank specifictraining landscape

(e.g. offering, tools, advisory& investment process)

To

Global Train-to-RM certificationIntroduced 2007

+

Global Frontline Certification 1.0Introduced in 2010

Generic Private Banking &Finance Knowhow- mainly self-study –

(e.g. Derivatives, PortfolioManagement, InvestmentFunds, Behavioral Finance)

Cert

ifica

tion

–(IS

O 1

7024

)

SAQ CWMA certification path NB* 1.8

CPD

In-h

ouse

Fitc

h Le

arni

ngCPD

PROS:• Cost efficient platform and

maintenance for generic know-how• Opportunity to benefit automatically

from external expert know-how viaregular updates and regular feedbackfrom other users

• Integration of new developments (e.g.MIFID) in the industry

• Cost efficient re-certification, updatesand CPD hours

• Flexibility in choosing vendors• No process or data challenges because

of “mixed” content and data• Clear positioning of market standard

versus in-house capacities

CONS:• Steering participants through two

training platforms

Based on the various benefits of the standard, introduction and launch has been perceived extremely well

CWMA application at UBS AGCWMA application at UBS AGUBS WM Diploma / CWMA is the foundation training for client-facing roles at UBS Wealth Management (to date: ~4'000)

Initial certification (14 topics)1:4 Multiple Choice / 150 questions, 300 minutes*

Recertification(every 3yrs)

60 questions, 120

at UBS Wealth Management (to date: 4 000)

UBS specifict t

p qminutes*

• Investm. Funds• Investm. Solutions• Structured Cl li k t B d f K l dcontent

(IPR with UBS)

Industry specific • Asset classes

• Structured Products

• Lending Solutions• The Wealth Mgmt

Advisor• Mortgages

B i P d t

• Risk, Legal and Compliance

• Wealth Planning International (or

Close link to Body of Knowledge and focus on:• Recent changes• Application elements• UBS specific elements

Industry specificcontent(IPR not with UBS,leverage across

Asset classes• Financial Markets,

Economics and FX• Derivatives• Portfolio Mgmt• Behavioral Finance

• Basic Products International (or Domestic)

• Local additions (e.g. HK, SG)

industry partnership)Exam 1Financial Markets,

Exam 2Client

Investment

Exam 3Regulatory and Wealth Planning

Single Exam50% of initial

certification contentMarkets, Products &

Portfolio Management

Investment Solutions (local

adaptations)

Wealth Planning Framework (local

adaptations)

certification content, rolling every two

years

1

*local modifications possible (e.g. APAC)

CWMA application at UBS AG - RecertificationCWMA application at UBS AG RecertificationGrowing suite of options to achieve recertification: increase efficiency and effective use of CA time dedicated to developmentp

Knowledge Application RecognitionRe-

Certification

Initial certification

Current options Alternative options Requirements

WM TSC WM Diploma CWMA

• Written Re-Certification test

• Suite of all CA or segment specific classroom training (credit system)

• Re-Certification trainings (continuous professional development)

WM Master mod le 2 test (once

• 24 learning hours 2 day training including preparation

• Link to content standard (WM B d f K l d )(credit system) • WM Master module 2 test (once

during program participation)

• Leadership Development program for Desk Heads (once during program participation)

Body of Knowledge)

• Accreditation form certification body SAQ (Swiss Association for Quality)

program participation)

Examples

• WM EEM Program "Living the Client Experience" for WM EEM front staff in the HNWI and Affluent segments

• Advisory Skills Acceleration Program for candidates in Japan

• Selling with emotions training

2

• Selling with emotions training

The small banks point of view SHANE NORTON

The Retail Distribution Review

Reforms in:

Labelling of Service Remuneration Professionalism

Professionalism strand is very similar to SAQ proposals Key difference: RDR made qualifications and continual training mandatory

Benefit from Certifications

Raise standards Protect yourself against regulatory scrutiny Marketing opportunity

Improve trust

Win clients

Increase revenues

Challenges and how to address them

Organisational

• Scope • Learning

support • Exemptions • Deadlines • Penalties • Staffing losses • Setting up and

tracking CPD

Financial

• Administrative costs

• Cost of training • Cost of loosing

staff • Marketing costs

Cultural

• Managing fear • Management

support • Establishing a

culture of continued learning

The key to gaining benefit

Effective marketing strategy

• A lack of information and clarity was the main source of kickback against the RDR from banking professionals

• The PFS study found that following the RDR only 52% of advised and 29% of unadvised customers were aware of the changes to professional standards. It is estimated that the industry missed out on up to 9 million new customer due to this.

Clear internal processes and effective communication

Learn from our mistakes

The key questions for small banks

Do we have the resources and know how to manage the implementation?

Can we limit exam failure, early retirement and withstand staffing

losses?

Do we have the matketing resources and skill to exploit the benefits?

Please come and share your further questions with me at lunch. Shane Norton


12.00-12.40 Training and Certification Providers

GenevaFintelligence – SFI – Fitch – ISFB/Kalaidos Lugano

SFI – Fitch – Fintelligence – CSB/Kalaidos Zürich

Fitch – Fintelligence – SFI – FSB/Kalaidos


Swiss Finance Institute SFI

Gabriela Maria Payer Christoph Gosdenoz Olivia Döll Catherine Lehmann

| May 29, 2017

Swiss Banking School CertificationA smart solution –from the industry for the industry

Dr. Gabriela Maria Payer &

Dr. Christoph Gosdenoz, CFA

Swiss Finance Institute

|

A smart & inclusive offering

May 29, 20172

Swiss Banking School Certification offers banks as well as participants a single point

of contact and provide end-to-end administration services. Using a web-based

portal, the institutions manage assessments, coached distance learning and the

registration processes for exams and optional on-site sessions.

Banking industryBanking industry

Swiss Banking School Swiss Banking School Swiss Banking School Swiss Banking School ---- Certification PortalCertification PortalCertification PortalCertification PortalSwiss Banking School Swiss Banking School Swiss Banking School Swiss Banking School ---- Certification PortalCertification PortalCertification PortalCertification Portal

Self assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessment Distance learning / Distance learning / Distance learning / Distance learning /

instructorinstructorinstructorinstructor----led trainingled trainingled trainingled training

Distance learning / Distance learning / Distance learning / Distance learning /

instructorinstructorinstructorinstructor----led trainingled trainingled trainingled training

Written / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral exams

SAQ certificateparticipants

Skill profiling – professional development of participantsSkill profiling – professional development of participants

|

Optimized exam preparation

May 29, 20173

Our course has been developed to certify client advisors under the norms 1.8

(effective since January 2017) of SAQ:

1. SFI offers the full course and all exams in four languages (German, English, French

and Italian)

2. On our comprehensive e-learning is supported in all languages by forums and

prepares candidates in the most efficient manner for the exams

3. All our class room tutorials are optional, and we offer live online sessions for a

cost efficient preparation

4. SFI has been mandated as an exam institution by SAQ and offers a range of

seminars and courses accredited by SAQ for recertification

5. Together with our partner institutions we offer trainings and exams in all

languages in Zurich, Geneva, Lugano and additional locations

Customized trainings and exams can be developed upon request and will be delivered

on the IT platform and/or the location of your choice.

|

Modularized professional banking education

May 29, 20174

Swiss Banking School Certification

- Wealth Management

- Corporate Banking

- Retail Banking

Deepened technical and products knowledge, individually setup

according to customer needs, role profiles and existing staff

development measures.

Customized

Certification-

concepts

Seamless integration of Wealth Management Advisor

Certification into the current «Swiss Cross-Border Wealth

Management Certification» by SFI.

Cross-Border

Certification

Use earned credit points (ECTS) to continue education with a CAS

in Wealth Management from UZH DBF or a CAS in Corporate

Banking from SFI-UniBE and finally achieve an MAS degree in

Banking or Finance from the SFI-UniBE or UZH DBF.

Academic

Further

Education

|

A customized approach for all segments

May 29, 20175

Swiss Banking IndustrySwiss Banking IndustrySwiss Banking IndustrySwiss Banking Industry

Training

Examination

Swiss Banking School Certification

Assessment

Wealth

ManagementCorporate Clients Individual Clients Private Clients

Wealth


Wealth


|

Taking the best of three powerful partners

May 29, 20176

1.1.1.1. We have the Knowledge and the Faculty:We have the Knowledge and the Faculty:We have the Knowledge and the Faculty:We have the Knowledge and the Faculty: The institutes combine advanced learning from the young and senior talents, from the academic and the industry side in an unmatched track record of excellence and experience.

2.2.2.2. We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way: This unique partner collaboration allows addressing the different client roles in banking from basic to advanced retail, corporate and wealth management client advisors. A state-of-the-art training platform and digital devices as well as competitive pricing are part of this joint solution.

3.3.3.3. We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:Three key banking educators owned by the private and public Swiss banking industry launch jointly an inclusive training and examination offering providing official client advisor certificates as well as bridging into further education degrees and customized programs.

SWISS BANKING SCHOOL CERTIFICATION

A JOINT OFFERING FOR CERTIFICATION OF CLIENT ADVISORS

SWISS BANKING SCHOOL CERTIFICATION

A JOINT OFFERING FOR CERTIFICATION OF CLIENT ADVISORS

|

Contact

May 29, 20177

Dr. Christoph GosdenozDr. Christoph GosdenozDr. Christoph GosdenozDr. Christoph Gosdenoz

Director Swiss Banking School Certification

Phone: +41 44 254 30 58

E-mail: [email protected]

Olivia Olivia Olivia Olivia DöllDöllDöllDöll

Swiss Banking School Cer+fica+on ─ Geneva

Phone: +41 78 941 65 26


Catherine LehmannCatherine LehmannCatherine LehmannCatherine Lehmann

Swiss Banking School Cer+fica+on ─ Zurich

Phone: +41 44 254 30 86


Swiss Finance Institute

Walchestrasse 9

8006 Zurich


Fitch Learning

Andreas Karaiskos Rob Thakur Kevin Boyle

Knowledge | Skills | Conduct

SAQ CWMA

The Fitch LearningSolution

1


Our USPs and Differentiators for a CWMALearning Solution

CompleteOnline

LearningSolution

ExamFlexibility

Multi-lingualCapabilities

Diagnostic eLearning takes into account prior knowledge Tutor videos, study notes and appraisal questions The platform can be extended to meet MiFID II compliance

Computer based exams can be taken on any business day Multiple exam locations globally, including Geneva, Zurich,

Camorino

The learning content and the exams are available in multiplelanguages

Languages include French, German, Italian and English

2


Pre-

Phas

eLe

arn

Phas

eEx

am P

hase

Candidate & L&D ExperienceFully Automated Authorisation And Exam Booking

welcome email from FitchLearning with login details

welcome video andintroductory information

Self diagnosis testingstudy notes, videos,

appraisal questions; tracksvia diagnostics

Complete mockexam on learning

portal

Candidate receivesresult by email within 24

hours

Book “pre-approved”exams on exam booking

site, choose time andlocation

Candidate sits exam at acomputer based test

centre

3


CWMA – Technical Knowledge ApproachCWMA Body of Knowledge arranged into 3 distinct exams

Exam 1Financial Markets, Products &

Portfolio Management

Exam 2Client Investment Solutions

Exam 3Regulatory and Wealth Planning

Framework(Swiss or International)

• Asset Classes• Financial Markets• Economics• Foreign Exchange• Portfolio Management• Derivatives• Behavioural Finance

90 Minutes45 Questions

• Investment Funds andClient Advice

• Discretionary Mandates• Advisory Mandates• Alternative Investments• Cash Solutions• Structured Products• Lending Solutions

• Wealth Planning• Risk, Legal and

Compliance• Basic Products• Mortgages



Body of Knowledge

4


Oral Examinations – Sales and Advisory SkillsSimulation of client interview

Information on the scenarioand the client received inadvance

The oral examination will bebased on simulating a clientmeeting for 60 minutes

Candidate assessedusing a definedevaluation sheet andscoring grid

Preparation

Oral Exam

Assessment


SAQ CWMA

The Fitch LearningSolution


Fintelligence

Peter Stapfer Oliver Grewe

– Fintelligence – 5



•

•

•






Kalaidos partnerships

Kalaidos: Marco Rüstmann

Genève: Institut Supérieur de Formation Bancaire ISFBFrédéric Kohler Lugano: Centro di Studi Bancari

Alberto Stival, Nadir Rodoni Zürich: Fachschule für Bankwirtschaft

Daniela Stehli

Certificazioni dei consulenti alla clientela(SAQ; ISO 17024):la nostra esperienza, i vostri vantaggi01.06.2017

Bildungskommission SwissBanking (Klausur)Villa Negroni, Vezia (06.06.2012)

2

„Präsentation neue Zertifizierungbei der UBS und Aussprache“(Martin Beeler, Reto Imhasly)

Esperienza del Centro di Studi Bancari

3

• Consulenti già certificati (giugno 2017): >100– Consulenti clientela privata,– Consulenti clientela individuale,– Certified Wealth Management Advisor

• Consulenti attualmente nel processo di certificazione: > 100• Esami SAQ già svolti ad oggi: 178

– scritti– orali

• Esperti certificati per gli esami orali: 23 (+ 18 nel 2018)

• Banche con cui già collaboriamo (formazione e/o esami): 8• Docenti coinvolti nella formazione: 10

Organizzazione del Centro di Studi Bancari

4

Collaboratori del CSB coinvolti nei progetti di certificazione SAQ:

Alberto Stival,Commissione d’esami SAQ-Kalaidos, Commissione formazione ASBNadir Rodoni,Project manager certificazioni SAQStefania Orlandino,Assistente di progetto (gestione esami SAQ)Tamara Muzzo,Assistente di progetto (gestione partecipanti ai corsi)Nicole Martinez,IT Manager (gestione banca dati e portale)Joao Ferreira,Economato (gestione materiale didattico)

Valore aggiunto del Centro di Studi Bancari

5

• Esperienza consolidata nella gestione di corsi ed esami relativi allecertificazioni SAQ/ISO17024

• Materiale didattico (cartaceo + e-book) collaudatissimo (AKADBanking+Finance) disponibile nelle tre lingue nazionali e in inglese

• Conoscenza delle banche ticinesi (il CSB è, dal 1990, il Centro diformazione delle banche ticinesi) e dei loro mercati di riferimento

• Possibilità di sviluppare progetti su misura, che tengono conto delleesigenze e caratteristiche delle banche (struttura, procedure, prodotti eservizi, cultura aziendale, …)

• Riunioni di coordinamento con la banca e il personale coinvolto• Possibilità di gestire progetti su tutto il territorio nazionale (e non solo)• Possibilità di scegliere tra corsi su misura e corsi a catalogo• Ri-certificazione: offerta di corsi riconosciuti da SAQ e gestione delle

banche dati dei collaboratori certificati

Progettazione su misura: non è banale

6

Un processo di certificazione ditutti i consulenti di una banca puòdurare anche più anni.

L’esperienza di BancaStato

7

«In virtù della sua lunga esperienza quale centro di formazione per lebanche il CSB ha saputo gestire ottimamente la relazione con il nostroistituto a tutti i livelli.Abbiamo in particolare apprezzato la disponibilità a soddisfare le nostreesigenze organizzative e a incontrare in più occasioni i capi team delfronte per dei briefing prima e dopo gli esami.Da segnalare in particolare anche la dedizione con cui Nadir Rodonista seguendo questo progetto per noi; grazie alla sua collaborazioneabbiamo potuto gestire al meglio anche i casi più delicati.»

Dario Caramanica,Responsabile Risorse Umane, Banca dello Stato del Cantone Ticino

Suggerimenti alle banche

8

• Pianificare con sufficiente anticipo un progetto di implementazione diSAQ (vedi esempio precedente)

• Creare il committment da parte del management (a tutti i livelli,partendo dalla Direzione generale)

• Prendersi il tempo per preparare a accompagnare i collaboratoricoinvolti nel processo, creare interesse per le certificazioni

• Non sottovalutare l’esame orale

Il Centro di Studi Bancari vi può aiutare in questo percorso.

Contatti

9

Alberto StivalVicedirettoreTelefono: 078-8931761E-mail: [email protected]

Nadir RodoniProject managerTelefono: 091-9674264E-mail: [email protected]

Rassegna stampa


12.40-13.30 Networking

Q&A Information Gathering Buffet Lunch

Documents

SAQ RM Certification Delivery to Foreign Banks · • October 2015 UBS, Credit Suisse and the Banques Cantonales ... January 2018 • International portability of the CWMA certification