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Education is a key part of restoring trust after the Royal Commission

by Lewis Panther SA FIN | 05 Feb 2019
FINSIA members will be able to prove they are worthy of customer trust after taking new qualifications in ethics and completing mandatory CPD requirements. 500 Education in a post Royal Commission World - FINSIA InFinance

The Ethics in Practice module of the Certified Professional Banker is one of a series of new important initiatives being added to our professional training portfolio in 2019. 

Combining it with the Ethics and Risk elements of the newly introduced compulsory CPD hours gives members the justification to declare they are trustworthy, according to Kylie Blundell SA FIN, Head of Standards and Education.
“With the lack of trust facing bankers as a result of the Royal Commission, it’s vital for FINSIA members to stand out from the crowd,” she said.
“That’s why we have made CPD compulsory and added modules in ethics.
“Striving to achieve the highest standards of conduct and competency shows you take pride in the work you are doing and understand that acting ethically is a crucial part of dealing with customers.

“They will want to see that the people they are dealing with are acting ethically. Trust - as has been noted on many occasions over the past year - is quick to disappear and is very hard to restore. 

“Showing customers you have the relevant qualifications and have completed the number of hours of CPD is certainly a start.
Blundell insists the CPD is not a box ticking exercise but part of a drive to set higher standards for FINSIA - standards that will help members thrive.

FINSIA’s curriculum is expanding in 2019 with the introduction of more courses and additional modules to existing qualifications.

Member demand to meet the highest standards of competency has led to the need for even more educational products, Blundell said.

Courses suitable for everyone from those in their first job in financial services to C-suite high flyers have already seen a huge take-up with hundreds on the Professional Banking Fundamentals course.

Moving forward to satisfy demand, FINSIA is introducing qualifications tailored to meet the needs of those in investment, funds management and stockbroking.

The Investment Operations Certificate, being run in conjunction with the world recognised Chartered Institute of Securities and Investment, will be available from April.
It gives students the opportunity to put together their own portfolio of study modules with courses in Global Financial Compliance, Combating Financial Crime, Managing Cyber Security and Risk in Financial Services.

Add any one of them together with the Australian Regulatory and Legal Environment module to complete the Investment Operations Certificate. 
“The beauty of the course is how portable it is and how you can take one module as a stand alone qualification,” said Blundell.
“It’s aimed at those people who are in the first few years of their career in financial services who want to specialise in investing - and opens up a new whole world to them.
“The qualifications are recognised around the world. So if you want to work in London or Home Kong, taking the CISI path with FINSIA is ideal.”

FINSIA carried out an extensive study of the Australian market and identified the need for specific and relevant qualifications in banking, Blundell added.
She said: “To be blunt, we are plugging a gap. 

“We have put together a full suite of practical qualifications designed by industry practitioners for industry practitioners.

“They’re in-depth and rigorous but can be taken as part of an institution’s sponsored program or individual’s daily working regime.

“The beauty of these programs is how easily they can be integrated into a bank’s existing learning and development frameworks.” 


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