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Dear Members,
Greetings to all!
On behalf of IIBF, I take the opportunity to wish all of you a happy, healthy and a safe life ahead. The first half of the year was an eventful period where once again, we encountered the adversity of the pandemic. Let us all hope and pray that the situation reaches normalcy sooner than later.
I would now like to take you through the initiatives undertaken by your Institute recently.
Introduction of the Professional Banker qualification.
Banking functions are becoming more specialised. Therefore, a banker, apart from having a general knowledge of banking operations, needs to acquire specialised knowledge in different verticals to remain competitive and be ahead of the curve. Most of the banks have created dedicated verticals in risk, credit, treasury, international banking etc. Many verticals in a bank have interlinkages with other verticals. For example, risk is an integral part of credit and treasury management. Hence, an officer handling the credit or treasury function in a bank needs to know about the nuances of risk management also. Thus, acquiring knowledge of interlinked verticals will help you in acquiring knowledge in specialized areas as well.
In order to meet the twin objectives of bridging the skill gaps and having a system of continuous professional development, a gold level aspirational qualification called “Professional Banker” has now been introduced by the Institute. This qualification is open to candidates who have five years’ experience and seeks to create a pool of professionals in specialized and inter-linked verticals to enable them to meet emerging challenges. A chart depicting the Professional Banker qualification is given below for your reference.
Introduction of a new certificate course
A certificate course on “Resolution of Stressed Assets of Banks, with special emphasis on the Insolvency & Bankruptcy Code 2016” has been introduced by the Institute. IBBI is the knowledge partner for this course.
The certificate course aims to develop among banking professionals and employees an understanding of the Code, procedure to be followed for resolution of stressed assets, role of bankers in an insolvency resolution process under the Code and to further strengthen their capacity to discharge their duties and responsibilities, including commercial decisions with utmost care and diligence, in the best interests of all stakeholders. As management of NPAs including its resolution is a critical activity in banks, this certificate course will help bankers in enriching their knowledge on the subject.
The examination on the subject is conducted at increased frequencies in the remote proctored mode.
Introduction of additional certificate courses
The Institute will also be introducing two new certificate courses on:
The first exams on the above subjects has been tentatively scheduled to be held in October 2021.
E-learning
Presently, the Institute offers e-learning covering some of the important courses / subjects like JAIIB, CAIIB, Credit Management, MSME, International Trade Finance, AML/KYC, Prevention of Cyber Crimes and Fraud Management, IT Security, Diploma in International Banking & Finance etc. We are also in process of developing new e-learnings on other contemporary topics like Treasury, Risk Management etc.
Joint certification programme by IIBF with XLRI on Leadership Development Programme
The Institute has tied up with XLRI for developing and co-branding of a program on soft skills involving leadership / team building with an emphasis on banking professionals at the mid-level.
The objective of the programme is to transform good managers in banks into effective leaders, with a human centric approach. The first batch of this programme will start on 24th July 2021.
Joint certificate programme with Jamnalal Bajaj Institute of Management Studies (JBIMS) on Advanced Strategic Management for Top Executives of Banks/FIs
IIBF caters to all important verticals in banks through its wide-ranging training programmes specially designed for the officers working at different levels such as new entrants, Junior/Middle Management and Senior Management. However, in order to tread the path to reach the pinnacle, a need was felt to develop a high value, short duration programme for the Top Management Executives of Banks in the area of Strategic Management and Leadership.
In order to have such a high quality; high-end programme, the Institute will be collaborating with Jamnalal Bajaj Institute of Management Studies (JBIMS), one of the reputed management institutions affiliated to University of Mumbai, for delivering a short duration Management Development Program on “Advanced Strategic Leadership” for Top Executives of Banks, Financial Institutions and NBFCs.
The objective of the programme will be to enable the top executives of banks to have a compelling vision, enhance their capacities to formulate and execute strategies and lead their organizations across geographic boundaries by anticipating the future and acquiring a competitive advantage.
The details of the programme will be announced shortly.
Training Programmes
The Advanced Management Programme (AMP), one of the flagship programmes of the Institute which is conducted in collaboration with IIM Calcutta has been well accepted by the banking fraternity. The Institute commenced its 10th batch of the Advanced Management Program (AMP) on 6th June, 2021. The 10th batch of the program was inaugurated virtually by Mr. Rajkiran Rai G, President, IIBF and Managing Director & CEO of Union Bank of India. The AMP programme is designed with a focus on building leadership capabilities at Banks & Financial Institutions.
Besides the AMP, the training vertical of IIBF conducts niche programmes covering different functional areas of the banks. New programmes on MSMEs, Agricultural Financing have also been drawn up by the Institute. The Institute has state of the art studios at its offices at Mumbai, Kolkata and New Delhi. This has enabled trainings to be conducted in the virtual mode in a seamless and effective manner.
The Institute has devised customized training programmes for various Banks to cater to their specific needs. The purpose of customized training programmes is skill upgradation to make the employees ready to deliver on those skills
Research Activities
The Institute has received good response in the following research schemes:
The results of these schemes will be shortly announced by the Institute.
Collaboration with GARP, USA
IIBF has entered into a MoU with the Global Association of Risk Professionals (GARP), USA for offering the Financial Risk & Regulations (FRR) program to JAIIB or CAIIB holders at a preferential rate of USD 300. The FRR program gives an overview on core aspects of Risk Management viz Credit Risk, Market Risk, Operational Risk and Asset & Liability Management (ALM). The registration window will be open until July 31, 2021 after which, the details of registered candidates will be shared with GARP, USA.
I am happy to state that the collaboration by IIBF with GARP has seen an encouraging response among the bankers.
Collaboration with Chartered Banker Institute
On 27th June 2017, IIBF had entered into a Mutual Recognition Agreement (MRA) with the Chartered Banker Institute offering a pathway for the Certified Associates of the Indian Institute of Bankers (CAIIB) from India to have their qualifications recognized by the Chartered Banker Institute, and be able to become Chartered Bankers by studying the Chartered Banker Institute’s Professionalism, Ethics & Regulation module, and successfully completing a reflective assignment.
Taking forward this MRA, a pathway has now been made available for the Junior Associates of the Indian Institute of Bankers (JAIIB) to also acquire the Chartered Banker Status through the JAIIB Professional Conversion Route.
The JAIIB Professional Conversion Route has also seen a good response.
Lastly, I would appeal to all to please stay safe and healthy by taking appropriate precautions and by following the advice provided by your local health authorities.
With warm regards,
Biswaketan Das
22nd July 2021.
Dear Members,
In today’s fast-paced and constantly evolving business landscape, it's essential for banking & financial services professionals to have the skills necessary to adapt and stay ahead of the curve. With the paradigm shifts in banking technologies and evolving customer expectations, banks are focusing more & more on upskilling & reskilling of its employees in emerging areas, such as design thinking, data and analytics, artificial intelligence, machine learning and green banking practices. In a knowledge-driven industry, a future-ready workforce is indeed a sine qua non for any bank or financial institution.
Upskilling is the process of enhancing an individual's existing skill set, while reskilling involves learning new skills entirely. Both processes play a crucial role in ensuring that the workforce is prepared for the future. In fact, ‘The World Economic Forum’ predicts that by 2027, 50% of all employees will need reskilling. As the business world continues to evolve, and technological advancements are made, employees must be equipped with the latest skills and knowledge to keep up.
The benefits of reskilling and upskilling go beyond just individual employee development. By investing in their employees, banks can address the skill gaps and facilitate professional growth of the employees. In turn, a skilled workforce can lead to increased productivity, better performance, and a more positive work environment.
When it comes to reskilling and upskilling programmes, IIBF believes that the learning experience should be enjoyable and engaging. IIBF’s certifications and training programmes are designed to provide the candidates with a hands-on, interactive learning experience that allows them to fully immerse themselves in the material. This approach to learning not only helps the candidates learn new skills but also helps to build their confidence and motivation. This ultimately benefits the long-term careers of the BFSI professionals.
The Institute, now in its 97th year of service to the banking fraternity in India, has always strived to pursue its mission of developing professionally competent bankers and financial services professionals. At the same time, the Institute endeavours to constantly innovate its pedagogy and realign its academic and training solutions in line with the industry needs, without compromising on the quality of its offerings.
As the Institute inches towards its centenary year in 2028, it is indeed a matter of pride to reflect upon and recognise the pioneering role played by the Institute in the development of banking education in India. However, the Institute recognises the importance of evolving and reinventing itself continuously in sync with the changing ecosystem. The ‘Vision 2025’ document developed by the Institute clearly mentions the organizational strategies and consequent actionable in the short-term, for the overall development and sustainability of the Institute. While the vision broadly revolves round its core functions, i.e. education, training & certification, due emphasis has been placed in leveraging the digital advancements in delivery and outreach.
With a clear objective of strengthening the Institute’s core offerings, the syllabi for the flagship courses of the Institute, JAIIB and CAIIB, has been thoroughly restructured to capture the nuances of an evolving sector from a more practical perspective and thereby, to create more professional value for our members. Simultaneously, the Institute has completed the restructuring of the syllabi of the RBI-mandated capacity building courses in the specialised domains of Treasury, Credit Management, Risk Management, Foreign Exchange and Accounting & Audit. Currently, the Institute has been involved in rationalising and updating all of its Diploma and Certificate courses, in order to provide an up-to-date learning experience to all the candidates.
The Institute has also been focusing on developing customised Certifications for banks, depending on the knowledge and skill-gap identified in consultation by the bank itself. These customised certification programmes will emphasise on the bank-specific policies and processes, while covering the entire gamut of the subject in questions. A number of banks, both from the public sector and private sector, has already opted for such joint-certification programmes on specific topics, e.g. AML-KYC & Compliance, MSME & Customer Service, for all of their employees. Moreover, the Institute has also started to develop need-based and job-family oriented courseware, depending on specific requirements from banks and FIs.
Additionally, the Institute has been involved in developing new certification programmes in Customer Service, Operational Risk Management, Retail Bank Management and IT Security in Banks, based on the feedback received from member banks and FIs.
As for the newer initiatives, the Institute has been recognised by National Council for Vocational Education & Training (NCVET) as an awarding & assessment body for various skill development courses in the BFSI domain for the next three years. The Institute is currently developing a 4-credits course on ‘Foundations of Retail Banking’ for the students aspiring to be a part of the ever-growing BFSI sector.
The Institute has duly recognised the importance of creating awareness on the impending risks of climate change and has co-developed a self-paced E-Learning Certification programme on ‘Climate Risk and Sustainable Finance’, along with IFC, World Bank Group. This programme has been divided in two certifications, namely ‘Foundation’ and ‘Advanced’, to cover the entire gamut of climate risk and subsequent mitigation measures & disclosures. The Institute now offers these certifications to international candidates as well and is currently involved in developing country-specific E-learning modules for the banking fraternity in Nepal, in coordination with IFC and National Banking Institute (NBI), Nepal.
Additionally, IIBF has conducted a series of physical training programmes on ‘Climate Risk and Responsible Banking’ for the Banking & Finance Professionals in the four major metropolitan cities in India, in collaboration with United Nations Environment Programme- Finance Initiative (UNEP-FI), with participation from board members, senior executives, credit officers and relationship managers. These workshops were meant to propagate general awareness and foundational capacity-building on the impact of climate change and sustainable finance.
In line with the trend globally, the Institute has embraced a ‘digital-first’ pedagogy with a clear emphasis on highly immersive E-Learning solutions. In order to facilitate online learning, the E-Learning modules developed by the Institute has been made available to all, irrespective of their status as a member or non-member at a minimal price-point. It is heartening for us that the Institute’s customised E-Learning offerings have found interested subscribers in the banking fraternity as some of the premier public and private sector banks have opted for our E-Learning solutions, especially for their probationary officers.
IIBF has received an approval from the Ministry of Education, Government of India, to offer some of its certifications through Swayam Plus portal, e.g. Climate Risk & Sustainable Finance and Retail Banking.
The Institute strategically shifted to ‘Remote Proctored’ mode of examination with a view to provide the candidates the comfort of taking the examinations from anywhere. However, with AI-driven monitoring mechanism, the standard of the examinations has been maintained.
The Virtual Training programs conducted by the Institute have garnered wide acceptance amongst the banking fraternity for their easy accessibility and the ability to reach out to a larger set of participants across the nation, without compromising on the quality of knowledge exchange and the content coverage. With 351 training sessions organised during the year for 13,849 candidates in total, the Institute is well and truly poised to become the preferred learning partner for Bankers going forward. Moreover, the Institute has been chosen by Department of Economic Affairs, Ministry of Finance, Government of India, to conduct training programmes for central and state government officers on select topics.
The Institute has continued to tread the path of collaborative growth by partnering with domestic and international organisations of repute. Internationally, the Institute has partnered with FPSB, to offer academic credits and fee benefits to CAIIB qualified candidates in India while pursuing the internationally recognised CFP programme, in the wealth management domain. Moreover, the Institute has collaborated with GARP to promote learning in risk management domain, through FRR certification. Domestically, the Institute has been collaborating with IGNOU for an MBA course in Banking & Finance, with specific credits and/or exemptions being provided to CAIIB qualified candidates.
It is also heartening to see that the Institute has been consulted by National Banking Institute, Nepal, in developing customised, country-focused courseware in Risk Management and Retail Banking.
We, at IIBF, believe that progress is a continuous process of self-discovery through incremental improvement of our core offerings, supported by continuous innovations towards becoming the preferred learning partner for Banks and Financial Institutions in coming years. IIBF will continue to work closely with banks, Financial Institutions, Regulators and IBA to revise the contents of the various courses and training programmes to make them more relevant for modern age bankers and roll out new courses/programmes in future.
I, on behalf of IIBF, convey my sincere thanks to Governing Council members for their guidance and whole-hearted support to the Institution.
The Institute acknowledges the role and contributions of all the Institutional and individual members.
With warm regards,
Biswa Ketan Das,
Chief Executive Officer,
Indian Institute of Banking & Finance,