As financial institutions look for ways to meet future expansion needs and stay relevant in a competitive environment, investing in its people and internal talent is increasingly becoming a top priority. As an example of this, on May 24, 2016, the Bank of Singapore (BOS), in partnership with The Wealth Management Institute (WMI) and Nanyang Technological University (NTU) introduced the Advanced Diploma in Private Banking, for its senior private bankers. The Advanced Diploma in Private Banking draws on WMI’s expertise in wealth management education for industry professionals and its strong network of faculty, consisting of local and global thought leaders and distinguished industry practice leaders.
The Advanced Diploma in Private Banking, which has been customised to meet the needs of BOS with the singular aim of developing a world-class cohort of senior private bankers, will be awarded by NTU and accredited by the Institute of Banking and Finance (IBF) as an IBF Standards Level 2/3 Programme in Wealth Management - Private Banking. This is the highest level of accreditation for this industry specialisation under the IBF Standards.
"It is commendable that the Bank of Singapore continues to invest in their already well-structured learning roadmap, and sets a shining example for the rest of the industry to follow. Together with BOS, NTU and IBF, I look forward to starting our first class in June 2016, to the strengthening of the Bank’s capabilities and to mutual success for all our organisations," said Ms Foo Mee Har, CEO of WMI.
The programme will focus on enhancing BOS’ wealth managers' skills to enable them to operate confidently in the rapidly evolving regulatory environment. Furthermore, it is designed to help wealth managers secure lasting and trusted relationships with clients, deepen expertise in wealth planning, investment and portfolio management as well as support clients in risk management and control. The Advanced Diploma programme is both academically grounded and practice oriented, covering a comprehensive curriculum with case studies. To achieve this, WMI will draw on its expertise in wealth management education for industry professionals as well as its strong network of faculty, consisting of local and global thought leaders and distinguished industry leaders.
WMI - a member of Temasek Management Services (TMS), a fully-owned subsidiary of Temasek Holdings - is Asia’s first centre of excellence for wealth management education. Established in 2003 with the support of Temasek and GIC, WMI combines academic rigour with a practical focus to offer best-in-class wealth management training taught by a faculty of distinguished industry-based practitioners and thought leaders. Through partnerships formed with over 60 industry players, including private and consumer banks, asset and fund management companies, leading financial organisations and top business schools, WMI aims to help individuals raise their wealth management competencies and contribute to the growth of the industry in the region. For more information, please visit http://www.wmi.com.sg.
The partnership with BOS marks the first time that NTU is collaborating with a financial institution to award an advanced diploma in the field of private banking. WMI played the lead role in securing NTU’s collaboration for this milestone programme for BOS.