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Help meet obligations of the Banking Executive Accountability Regime with Chartered Banker by Experience

by Lewis Panther | 13 Jun 2019
Chartered Banker by Experience graduates will have the skills needed to help meet BEAR obligations, according to international assessor Ian Hardcastle. 
 
They will make a real impact on the industry in Australia and help ADIs meet BEAR requirements, the Chair of the Learning and Development Board at the Chartered Banker Institute says.
 
But candidates will have their work cut out for them on the intensive fast-track program and need their own wealth of experience to meet those obligations. 
 
Hardcastle, who has been overseeing final interviews for the first cohort on the FINSIA course, said that the organisation’s provision of across-the-board qualifications is a “strong recipe for success”.

He said:  “The interesting thing with the approach taken by FINSIA is that it is engaging with many organisations around the Professional Banking Fundamentals program and the Certified Professional Banker program.
 
“Many of these programs involve people who are relatively new to the banking community.
 
“This is why it's important for the Chartered Banker by Experience candidates, who have been in the organisations for a lot longer, to play their part around building capability.

“Having that dual focus of more established bankers guiding new entrants to the market will be a really strong recipe for success."
 
Hardcastle pointed out that Chartered Banker by Experience was not exclusively for those hoping to meet BEAR requirements and could be taken by anyone with the requisite experience.

He went on to discuss the ingredients and benefits of the intensive course, adding:  “It is a testing program.

“At the conclusion of the program, subject to the candidates being successful, they are awarded Charter Banker status. So it is a significant achievement on their behalf.
 
“It can be done in as little as three months so, 12 weeks. To achieve that, candidates need to be really focused from day one.
 
“The things that we ask them to do is generally in three parts, all of which will help them demonstrate they are meeting their obligations under BEAR.
 
“In the first part we ask the candidates to reflect on different scenarios.  We ask them to consider strategic risk management in context of the banking environment and the organisation that they work for currently. 
 
“We also ask them to think about the development and the future of banking itself, which is quite broad. Indeed it does solicit a number of different views and opinions which is perfectly acceptable. 
 
“In that part we ask them to think about what the future of banking looks like? What do the channels of delivery look like? What are the challenges in terms of aligning the right staff capability with customer outcomes? And what are the financial challenges for banks around innovation and investing in new systems? 
 
“It’s a really exciting ask in terms of reflection statement. But it also shows they can meet their obligations of being an accountable person under BEAR.
 
“It's about them as individuals and leaders looking for two things. One is for them to reflect on their own journey on their own leadership style and to think how they have led teams through periods of significant change.
 
“The second part is to think about how they are going to position themselves in the broader banking community and how they can support the new colleagues, how they can support members of FINSIA, how they can support that broader community in terms of personal development and ethical behaviour. 
 
“In the third part of the journey we ask them to, in effect, go back to school and they need to complete a 3000 word assignment. On the face of it that sounds quite daunting but we do give them a lot of support around structure and output. 
 
“We ask them to consider a number of ethical dilemmas and what their response would be. This is really important for banking because all too often we make day to day decisions that really impact us. 
 
“So, it's a great opportunity for candidates to really understand the ethical dilemmas that they themselves or their colleagues can face. There is also a certain amount of theoretical input and opinions as well, which I think will really serve them well going forward.
 
“The final part of the assessment, I get to meet them for a couple of hours and we have an in-depth discussion around how they found the program. 
 
“It gives me a chance to explore some of the submissions that they've put into the program and also test their knowledge and understanding.”

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