A new exam is being launched by the Securities Institute to meet growing demand for understanding and minimising risks associated with the operations of financial services.
The Advanced Certificate in Operational Risk builds on an existing module contained in the Investment Administration Qualification (IAQ), and has been developed following consulation with, primarily, those involved in back office administration.
Despite the origins, the SI says the qualification should help plug knowledge gaps of front office staff, and could help those running businesses as IFAs.
For example, understanding operational risk also includes issues such as reputational risk, and fits with the FSA’s emphasis on firms developing risk-awareness culture, the SI says.
The exam itself is a three-hour exercise in analysing real-world business scenarios focused on proving to examiners the candidate can identify and understand the risks involved.
It is estimated candidates would need between 60 to 90 hours of preparation to successfully complete the certificate.
For further information, contact the SI at www.securities-institute.org.IFAonline
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