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For those keen to acquire the skills for a promising career in the financial services industry, the Financial Industry Competency Standards (FICS) provides them with an avenue to achieve just that.
The Financial Industry Competency Standards (FICS) is a significant collaboration of the financial services industry with its key partners. In addition to WDA, it has the strong support of leading financial institutions, industry associations, the Monetary Authority of Singapore and the Institute of Banking and Finance (IBF).
The FICS is a strategic national initiative which comprises a comprehensive quality assurance framework with a certification and accreditation system that helps to raise the professional bar of our financial workforce and training providers. It is developed by the industry, for the industry. It is aligned with best practices found in other leading financial centres, as well as the Singapore Workforce Skills Qualification system. It covers the entire financial services sector, including sub-sectors like wealth management, financial markets, insurance, corporate banking. It also covers all occupational levels - for high-end professionals as well as operational personnel.
The FICS provides clear standards and structured pathways for our financial workforce to position themselves for employment in the financial services industry. It is like a "street directory". Anyone who is interested to apply for a job or to position himself/herself for higher-level jobs can simply look up to this directory and have an insight on what skills and experiences are needed for a particular job. The person can then use the FICS to chart their own training needs to gain the required expertise. As it is recognised by the industry and supported by key government agencies, the FICS certification enhances your employability.
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