ICA delivers its training through its training arm, International Compliance Training, (ICT) and is uniquely placed to satisfy this need, assisting individuals, organizations and financial communities through the provision of accredited training and education, demonstrating their commitment to compliance of the highest international standards.
International Compliance Training has been asked to assist in developing a significant range of training and assessment programmes for the ICA in Singapore. The International Compliance Association has been appointed by the Institute of Banking and Finance (IBF) together with the Monetary Authority of Singapore (MAS) and the Singapore Workforce Development Agency (WDA), as the Lead Provider of Financial Industry Competency Standards accredited training and assessment programmes in the field of compliance. The setting up of the regional office will enable to the ICA to fulfill its obligations under this arrangement
These developments are part of a wider industry initiative by Singapore to further develop and position its workforce to meet the demands of a financial centre of excellence.
In Singapore, the International Compliance Association through ICT will provide compliance training for all six Compliance Job Families, which are Compliance - Anti Money Laundering, Compliance â Consumer, Compliance â Fund Management, Compliance â Insurance, Compliance â Wealth Management and Compliance â Wholesale. Six new Specialist Diplomas and five new Professional Diplomas that incorporate both international and Singapore specific content will be developed by ICA. The Diplomas will be accredited by IBF under the Financial Industry Competency Standards (FICS) framework by the end of 2007 and individuals successfully completing the programmes will attain FICS Certification. These new diplomas will be awarded jointly by ICA and WDA, as part of the Singapore Workforce Skills Qualifications (WSQ), a national Continuing Education and Training Framework. Courses are expected to commence in Autumn 2007.
Bill Howarth, Chief Executive of the International Compliance Association, commented, "We are honoured to be appointed by The Institute of Banking and Finance, the Monetary Authority of Singapore and the Singapore Workforce Development Agency and look forward to launching our programmes in the region. This is an exciting and important time for financial services in Singapore and we are privileged to be part of it.â
He added âThe expansion into the region will enable ICA to enhance its status as the worldâs leading provider of accredited, certificated learning in anti money laundering, compliance and financial crime prevention, and represents a significant investment by our parent organisation, Wilmington plcâ