The Finance Accreditation Agency (FAA), an international independent quality assurance and accreditation body for the Financial Services Industry (FSI), announced the launch of its Finance Professional Qualifications Structure (FPQS).
Mr Khairul Nizam, the Chief Executive Officer, FAA says, “FAAs accreditation is globally recognised and today we are proud to announce the launch of the Finance Professional Qualification Structure (FPQS)”
The FPQS aims to enable the mapping of finance professional qualifications into a single qualifications structure, provide the mechanism to classify learning levels of professional qualifications in the financial services industry and assist any employee in the financial services industry to map their learning and plan their knowledge progression according to their chosen career path. It’s made up of 4 sectors – Banking, Capital Market, Insurance, Financial Planning and Wealth Management.
“The FPQS was developed through group efforts with a panel of industry experts and practitioners from different financial services sectors to develop and structure the content of the document. This structure is based on international best practices and are also internationally benchmarked. The FPQS will be a point of reference for the development of conventional finance professional qualification programmes for sectors of banking, capital market, insurance and financial planning and wealth management.” he explains.
“The FPQS follows the successful development of the Islamic Finance Professional Qualification Structure (IFPQS) which was completed in 2017. Together we have developed a complete comprehensive set of references for the FSI,” adds Khairul.
FPQS will benefit many stakeholders in the FSI in their efforts to design, develop and deliver globally recognised programmes for the industry. Although designed for professional programmes, the FPQS complements universities/institutions to ensure that intended learning objectives and outcomes are met and that graduates are ready to serve the FSI industry upon graduation.
“With FPQS, talents will be able to make informed decisions and easily identify suitable professional learning programmes that meets their knowledge and sector progression,” he explains further.