Financial Industry Competency Standards (FICS)

The Financial Industry Competency Standards (FICS) is a comprehensive quality assurance framework with a certification and accreditation system that aims at raising the quality of our financial workforce and training providers. It comprises a set of standards with associated curriculum guide that relates to the competencies required for practitioners in specific job roles.

There are currently over a 100 FICS-accredited programmes provided by 14 training providers; these programmes have been subjected to a rigorous process of external review to ensure industry relevance. FICS programmes provide a roadmap for financial executives to upgrade their skillsets and professional competencies in order to be resilient in the face of a rapidly evolving financial landscape.

Key Features of FICS Training & Assessment

• Relevant and Practice-oriented. FICS is developed by the industry for the industry. It ensures the training that you receive is relevant to today's business needs. FICS emphasises practice-oriented training incorporating workplace assessment instruments such as case studies, simulations, role plays, etc.
• Recognition. When you earn a FICS Certification, you are demonstrating your expertise with financial industry domain knowledge, while validating real-world skills and job-related experiences that are used every day.
• Endorsement. FICS is a national initiative of IBF. It is supported by MAS, WDA and leading financial institutions and industry associations.
• Portable - Being industry-wide, the framework facilitates ease of identification of common competencies using a common platform for standards, assessment and certification. Competencies which are portable across functional boundaries can be recognised if the holder moves to another industry segment which utilises these skills and knowledge.
• Robust Portfolio-Based Certification - The portfolio-based certification approach helps ensure that the certification process will provide a reliable and accurate assessment of a person's ability to meet demands of a job consistently over time.
• Structured Progression Roadmap. Make FICS a valuable part of your career path. Whether you are new to financial industry, changing jobs, or a seasoned financial practitioner, becoming certified helps you prove to peers and employers that you are committed to advancing your skills and that you are a candidate for new opportunities and career progression.
• Flexible. The FICS is structured around competencies required for the various job roles in the financial services sector. It is modular, allowing you greater flexibility to select the role-based training you require.