Last month, SMU’s Financial Training Institute, or FTI@SMU, became the first institute in a Singapore university to receive the 2015 IBF Inspiring Educator Award.  The annual award by the Institute of Banking & Finance Singapore (IBF) recognises IBF-accredited training providers' commitment in driving the adoption of the IBF Standards to raise the professional competency of the financial industry.

For Singapore to maintain its position as one of the region's leading financial hubs, the competency levels of the banking and finance workforce must be continuously enhanced.  Such is the important industry talent development role that FTI@SMU plays.

In championing competency-based training for professionals in the financial services industry, FTI@SMU offers IBF-accredited certification programmes in corporate banking, financial markets, wealth management and private equity under the IBF Standards framework, which is a development roadmap for financial sector practitioners to acquire the training needed to excel in their jobs.

“At FTI@SMU, we believe that life-long learning must be impactful, relevant and market-ready. Individuals must take ownership to seek and acquire deep expertise that transform thinking, develop careers and drive effective change for businesses,” said Professor Annie Koh, SMU’s Vice President for Business Development, and Academic Director of FTI@SMU.

Since its inception in 2007, the Institute has trained more than 3,000 participants and certified about 900 professionals, from over 100 financial institutions.  Going forward, it will continue to play a role in contributing to the country's SkillsFuture initiative.

[Photo: Winners in the various IBF Award categories are seen here in a group photo with Emeritus Senior Minister Goh Chok Tong (4^th from left).  Prof Annie Koh is 2^nd from left.]

Professor Annie Koh was present at the IBF Distinction Evening held last month to receive the Award from Emeritus Senior Minister Goh Chok Tong, who delivered a Keynote Address on ‘Mastering your craft, Inculcating Lifelong Learning’.

“The future job landscape will bear little resemblance to what we see today.  Today’s investors are savvier, taking charge and managing their own finances.  They have real-time access to local and international markets.  They can trade on the go and get financial advice online.  Therefore, practitioners across all sectors of the financial industry – private bankers, financial advisers, trading representatives – must adapt and be prepared to learn new skills,” he said.

“The Government is committed to supporting skills development; SkillsFuture was started for this reason,” he added. 

On how competencies in the financial sector can be raised further, Prof Koh shared, “I feel that our financial professionals should be given the opportunity to develop and strengthen their competencies in integrative skills across functional areas, such as team building, leadership and communication.  For example, how investment banking can leverage on technology to work with other department to expand client distribution, and technology teams must know what customer and service excellence is all about.”

She added, “Financial professionals of the future need to know how to scan the environment for emerging mega trends, possible new threats and/or opportunities from financial technology that will change the way businesses are created and done.  They need to acquire deep domain and sector knowledge and expertise.”

[Photo: SMU’s Financial Training Institute has trained more than 3,000 participants and certified about 900 professionals, from over 100 financial institutions.]

[Featured Photo: SMU’s Prof Annie Koh, Academic Director of FTI@SMU, receiving the 2015 IBF Inspiring Educator Award from Emeritus Senior Minister Goh Chok Tong at the IBF Distinction Evening.]