SAQ RM CertificationDelivery to Foreign Banks

31 May 2017, Geneva1 June 2017, Lugano7 June 2017, Zürich

SAQ RM Certification: Delivery to Foreign Banks

Welcome / Introduction

11.10-11.30 IntroductionRonny Wallnöfer, SBA

11.30-12.00 TestimonialsCredit Suisse, Julius Bär, UBS; UK

12.00-12.40 PresentationsFintelligence, Fitch Learning, Swiss Finance InstituteKalaidos + Centro di Studi Bancari; Institut Supérieur deFormation Bancaire; Fachschule für Bankwirtschaft

12.40-13.30 Networking

SAQ RM Certification: Delivery to Foreign Banks

11.10-11.30 Introduction

Ronny WallnöferProject Head Strategy Training / Best Talents, Swiss Bankers' Association- RM Certification: what it is and what it offers, where it comes from, how it compares

internationally.- Certification and Recertification; Swiss and international modules

SAQ Person Certification

2017-05-29Ronny WallnoeferProject Head Strategy Training/Best Talents

• 2010/2012 - SwissBanking discusses the introduction of acertification system for Client Advisors

• 2012 - Non-conclusive decision leads to initiative by UBS to setup a certification system in cooperation with SAQ

• October 2015 UBS, Credit Suisse and the Banques CantonalesLatines agree on the SAQ person certification as a certificationstandard for client advisors. Bank Julius Baer joins soon after.

Seite 2 01.06.2017

Certification System - origins

The SAQ Person certification is about establishingstandards, which provide a constant quality of the «ClientAdvisor Bank» and in doing so set a benchmark and toensure and document the knowledge and skills of the«Client Advisor Bank»

• Content, requirements and qualification procedures and processes for obtainingcertification are defined and developed by the Normative Committee, according to theframework given by the norm ISO 17024

Seite 3 01.06.2017

A standard for professionalisation and excellence –driven by the banking industry

• Current certification programmes CWMA, CCoB, Private Clients, Individual Clients* coverthe client advisor segments

• System offers flexibility for participating banks in regard of scope, content and training

*Affluent Client and SME accreditation by SAS is pending

Normative Committee Technical Boards

Definition and Developmentof Learning Topics

Strategic Level

Normative DocumentationSystemic Level

Normative Base

Examination Regulation

Certification Programmes

Technical conformityDefinition of Normative

Documentation

System Development

• CWMA recommended by SBA as standard for client advisors inprivate banking/wealth management in December 2016

• Content CMWA certification meets MIFID II requirements per 1January 2018

• International portability of the CWMA certification is part of theSwissBanking strategic project «Training/Best Talents»• Focus on MIFID countries, UK, UAE, Singapore, Hong Kong, South Africa

• SwissBanking assesses the recommendation of additional SAQprogrammes

Seite 4 01.06.2017

CWMA recommendation and future development

SAQ RM Certification: Delivery to Foreign Banks

11.30-12.00 Testimonials

Geneva- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG- Shane Norton, independent adviser

Lugano- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG

Zürich- Peter Wandelt, Stream Head SAQ Certification, Credit Suisse AG- Jürg Herren, Head Certification & External Relationships, UBS AG- Oliver Ruch, Programme Manager RM Certifications, Bank Julius Bär & Co. Ltd.- Shane Norton, independent adviser

CWMA application at Credit SuisseFrom

Bank specifictraining landscape

(e.g. offering, tools, advisory& investment process)

To

Global Train-to-RM certificationIntroduced 2007

+

Global Frontline Certification 1.0Introduced in 2010

Generic Private Banking &Finance Knowhow- mainly self-study –

(e.g. Derivatives, PortfolioManagement, InvestmentFunds, Behavioral Finance)

Cert

ifica

tion

–(IS

O 1

7024

)

SAQ CWMA certification path NB* 1.8

CPD

In-h

ouse

Fitc

h Le

arni

ngCPD

PROS:• Cost efficient platform and

maintenance for generic know-how• Opportunity to benefit automatically

from external expert know-how viaregular updates and regular feedbackfrom other users

• Integration of new developments (e.g.MIFID) in the industry

• Cost efficient re-certification, updatesand CPD hours

• Flexibility in choosing vendors• No process or data challenges because

of “mixed” content and data• Clear positioning of market standard

versus in-house capacities

CONS:• Steering participants through two

training platforms

Based on the various benefits of the standard, introduction and launch has been perceived extremely well

CWMA application at UBS AGCWMA application at UBS AGUBS WM Diploma / CWMA is the foundation training for client-facing roles at UBS Wealth Management (to date: ~4'000)

Initial certification (14 topics)1:4 Multiple Choice / 150 questions, 300 minutes*

Recertification(every 3yrs)

60 questions, 120

at UBS Wealth Management (to date: 4 000)

UBS specifict t

p qminutes*

• Investm. Funds• Investm. Solutions• Structured Cl li k t B d f K l dcontent

(IPR with UBS)

Industry specific • Asset classes

• Structured Products

• Lending Solutions• The Wealth Mgmt

Advisor• Mortgages

B i P d t

• Risk, Legal and Compliance

• Wealth Planning International (or

Close link to Body of Knowledge and focus on:• Recent changes• Application elements• UBS specific elements

Industry specificcontent(IPR not with UBS,leverage across

Asset classes• Financial Markets,

Economics and FX• Derivatives• Portfolio Mgmt• Behavioral Finance

• Basic Products International (or Domestic)

• Local additions (e.g. HK, SG)

industry partnership)Exam 1Financial Markets,

Exam 2Client

Investment

Exam 3Regulatory and Wealth Planning

Single Exam50% of initial

certification contentMarkets, Products &

Portfolio Management

Investment Solutions (local

adaptations)

Wealth Planning Framework (local

adaptations)

certification content, rolling every two

years

1

*local modifications possible (e.g. APAC)

CWMA application at UBS AG - RecertificationCWMA application at UBS AG RecertificationGrowing suite of options to achieve recertification: increase efficiency and effective use of CA time dedicated to developmentp

Knowledge Application RecognitionRe-

Certification

Initial certification

Current options Alternative options Requirements

WM TSC WM Diploma CWMA

• Written Re-Certification test

• Suite of all CA or segment specific classroom training (credit system)

• Re-Certification trainings (continuous professional development)

WM Master mod le 2 test (once

• 24 learning hours 2 day training including preparation

• Link to content standard (WM B d f K l d )(credit system) • WM Master module 2 test (once

during program participation)

• Leadership Development program for Desk Heads (once during program participation)

Body of Knowledge)

• Accreditation form certification body SAQ (Swiss Association for Quality)

program participation)

Examples

• WM EEM Program "Living the Client Experience" for WM EEM front staff in the HNWI and Affluent segments

• Advisory Skills Acceleration Program for candidates in Japan

• Selling with emotions training

2

• Selling with emotions training

AFBS Event in Zurich7 July 2017

SAQ CERTIFICATION AT BANK JULIUS BAER

RM CERTIFICATION SWITZERLAND

2

Steps to CWMA certificate

• Briefing andsimulation oforal exam

• Individualfeedback

Oral exam simulation(ca. 1.5h)

optional

• Supervised e-test (multiple choice)

• Two partner schools for training and exams:Fitch Learning & SFI

• Locations: depending on school

• Languages: E, D, F, I• Audited by SAQ

• Certified Wealth Management Advisor (CWMA)

• Issued by Swiss Association for Quality (SAQ)

• SAQ accredited by SAS/SECO based on ISO 17024

• Recertification every 3 years

• Assessment by trained internal experts/senior RMs

• Locations: Geneva,Lugano, Zurich

• Languages: E, D, F, I• Audited by SAQ

Oral exam(60 min)

simulatedclient meeting

External Internal

Written exam(ca. 5h)

3-4 partial exams

EXPERIENCE AND FEEDBACK

3

After running written and oral exams for more than one year

Bank• Change process – starts with senior management• Involvement of senior RMs and Team/Market Heads very positive ('ambassadors')• Offering training, running exams and providing information need a lot of resources

Participating RMs• Feedback: 'Finally!' vs. 'Why do I need to do this after 20 years of service?'• In case of failure: learn more for written exam is easier than changing behaviour in oral

exam• Participants are proud of achievement

Reactions in the market• Switzerland not a first mover regarding certifications, but on a higher standard than other

jurisdictions• 'Proof of competence' is expected by clients

IMPORTANT DISCUSSION POINTS

4

BJB answers and way forward

Make vs. buy• BJB answer: buy written exam, let the market play and let participants choose provider• Keep oral exams in-house

Generic certification vs. bank-specific training• BJB answer: leverage generic content as much as possible, cover bank-specific content in

onboarding programme, oral exams and recertification

Implementation in locations outside Switzerland• BJB answer: option for the future, avoid redundant examination for RMs (local regulation

plus ISO/SAQ) - therefore integration of ISO into local regulatory framework first

Compatibility with MiFID?• 'Body of Knowledge' of CWMA is currently being revised, integration of MiFID aspects is

one of the drivers

Oliver RuchProgramme Manager RM Certifications

Julius Baer Academy+41 58 886 2752

oliver.ruch@juliusbaer.com

The small banks point of view SHANE NORTON

The Retail Distribution Review

Reforms in:

Labelling of Service Renumeration Professionalism

Professionalism strand is very similar to SAQ proposals Key difference: RDR made qualifications and continual training mandatory

Benefit from Certifications

By: Raising standards Attracting ambitous staff Protecting yourself against regulatory scrutiny Marketing your professionalism

Improve trust

Win clients

Increase revenues

Challenges and how to address them

Organisational

• Scope • Exemptions • Learning support • Deadlines • Penalties • Staffing losses • Setting up and

tracking CPD • Marketing push

Financial

• Administrative costs

• Training costs • Marketing costs • Staff turnover

costs

Cultural

• Managing fear • Establishing a

learning culture

The key to gaining benefit

Effective marketing

Clear internal processes

Learn from our mistakes

Effective communication

SAQ RM Certification: Delivery to Foreign Banks

12.00-12.40 Training and Certification Providers

GenevaFintelligence – SFI – Fitch – ISFB/Kalaidos Lugano

SFI – Fitch – Fintelligence – CSB/Kalaidos Zürich

Fitch – Fintelligence – SFI – FSB/Kalaidos

SAQ RM Certification: Delivery to Foreign Banks

Fitch Learning

Andreas Karaiskos Rob Thakur Kevin Boyle

Knowledge | Skills | Conduct

SAQ CWMA

The Fitch LearningSolution

1

Knowledge | Skills | Conduct

Our USPs and Differentiators for a CWMALearning Solution

CompleteOnline

LearningSolution

ExamFlexibility

Multi-lingualCapabilities

Diagnostic eLearning takes into account prior knowledge Tutor videos, study notes and appraisal questions The platform can be extended to meet MiFID II compliance

Computer based exams can be taken on any business day Multiple exam locations globally, including Geneva, Zurich,

Camorino

The learning content and the exams are available in multiplelanguages

Languages include French, German, Italian and English

2

Knowledge | Skills | Conduct

Pre-

Phas

eLe

arn

Phas

eEx

am P

hase

Candidate & L&D ExperienceFully Automated Authorisation And Exam Booking

welcome email from FitchLearning with login details

welcome video andintroductory information

Self diagnosis testingstudy notes, videos,

appraisal questions; tracksvia diagnostics

Complete mockexam on learning

portal

Candidate receivesresult by email within 24

hours

Book “pre-approved”exams on exam booking

site, choose time andlocation

Candidate sits exam at acomputer based test

centre

3

Knowledge | Skills | Conduct

CWMA – Technical Knowledge ApproachCWMA Body of Knowledge arranged into 3 distinct exams

Exam 1Financial Markets, Products &

Portfolio Management

Exam 2Client Investment Solutions

Exam 3Regulatory and Wealth Planning

Framework(Swiss or International)

• Asset Classes• Financial Markets• Economics• Foreign Exchange• Portfolio Management• Derivatives• Behavioural Finance

90 Minutes45 Questions

• Investment Funds andClient Advice

• Discretionary Mandates• Advisory Mandates• Alternative Investments• Cash Solutions• Structured Products• Lending Solutions

• Wealth Planning• Risk, Legal and

Compliance• Basic Products• Mortgages

120 Minutes60 Questions

90 Minutes45 Questions

Body of Knowledge

4

Knowledge | Skills | Conduct

Oral Examinations – Sales and Advisory SkillsSimulation of client interview

Information on the scenarioand the client received inadvance

The oral examination will bebased on simulating a clientmeeting for 60 minutes

Candidate assessedusing a definedevaluation sheet andscoring grid

Preparation

Oral Exam

Assessment

Knowledge | Skills | Conduct

SAQ CWMA

The Fitch LearningSolution

SAQ RM Certification: Delivery to Foreign Banks

Fintelligence

Peter Stapfer Oliver Grewe

– Fintelligence – 5

– Fintelligence – 7

– Fintelligence – 14

•

•

•

– Fintelligence – 15

– Fintelligence – 16

– Fintelligence – 17

– Fintelligence – 18

SAQ RM Certification: Delivery to Foreign Banks

Swiss Finance Institute SFI

Gabriela Maria Payer Christoph Gosdenoz Olivia Döll Catherine Lehmann

| May 29, 2017

Swiss Banking School CertificationA smart solution –from the industry for the industry

Dr. Gabriela Maria Payer &

Dr. Christoph Gosdenoz, CFA

Swiss Finance Institute

|

A smart & inclusive offering

May 29, 20172

Swiss Banking School Certification offers banks as well as participants a single point

of contact and provide end-to-end administration services. Using a web-based

portal, the institutions manage assessments, coached distance learning and the

registration processes for exams and optional on-site sessions.

Banking industryBanking industry

Swiss Banking School Swiss Banking School Swiss Banking School Swiss Banking School ---- Certification PortalCertification PortalCertification PortalCertification PortalSwiss Banking School Swiss Banking School Swiss Banking School Swiss Banking School ---- Certification PortalCertification PortalCertification PortalCertification Portal

Self assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessmentSelf assessment Distance learning / Distance learning / Distance learning / Distance learning /

instructorinstructorinstructorinstructor----led trainingled trainingled trainingled training

Distance learning / Distance learning / Distance learning / Distance learning /

instructorinstructorinstructorinstructor----led trainingled trainingled trainingled training

Written / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral examsWritten / oral exams

SAQ certificateparticipants

Skill profiling – professional development of participantsSkill profiling – professional development of participants

|

Optimized exam preparation

May 29, 20173

Our course has been developed to certify client advisors under the norms 1.8

(effective since January 2017) of SAQ:

1. SFI offers the full course and all exams in four languages (German, English, French

and Italian)

2. On our comprehensive e-learning is supported in all languages by forums and

prepares candidates in the most efficient manner for the exams

3. All our class room tutorials are optional, and we offer live online sessions for a

cost efficient preparation

4. SFI has been mandated as an exam institution by SAQ and offers a range of

seminars and courses accredited by SAQ for recertification

5. Together with our partner institutions we offer trainings and exams in all

languages in Zurich, Geneva, Lugano and additional locations

Customized trainings and exams can be developed upon request and will be delivered

on the IT platform and/or the location of your choice.

|

Modularized professional banking education

May 29, 20174

Swiss Banking School Certification

- Wealth Management

- Corporate Banking

- Retail Banking

Deepened technical and products knowledge, individually setup

according to customer needs, role profiles and existing staff

development measures.

Customized

Certification-

concepts

Seamless integration of Wealth Management Advisor

Certification into the current «Swiss Cross-Border Wealth

Management Certification» by SFI.

Cross-Border

Certification

Use earned credit points (ECTS) to continue education with a CAS

in Wealth Management from UZH DBF or a CAS in Corporate

Banking from SFI-UniBE and finally achieve an MAS degree in

Banking or Finance from the SFI-UniBE or UZH DBF.

Academic

Further

Education

|

A customized approach for all segments

May 29, 20175

Swiss Banking IndustrySwiss Banking IndustrySwiss Banking IndustrySwiss Banking Industry

Training

Examination

Swiss Banking School Certification

Assessment

Wealth

ManagementCorporate Clients Individual Clients Private Clients

Wealth

ManagementCorporate Clients Individual Clients Private Clients

Wealth

ManagementCorporate Clients Individual Clients Private Clients

|

Taking the best of three powerful partners

May 29, 20176

1.1.1.1. We have the Knowledge and the Faculty:We have the Knowledge and the Faculty:We have the Knowledge and the Faculty:We have the Knowledge and the Faculty: The institutes combine advanced learning from the young and senior talents, from the academic and the industry side in an unmatched track record of excellence and experience.

2.2.2.2. We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way:We can scale the Operations in a Client focused Way: This unique partner collaboration allows addressing the different client roles in banking from basic to advanced retail, corporate and wealth management client advisors. A state-of-the-art training platform and digital devices as well as competitive pricing are part of this joint solution.

3.3.3.3. We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:We have what it takes for a trusted Governance, excellent Quality and seamless Integration:Three key banking educators owned by the private and public Swiss banking industry launch jointly an inclusive training and examination offering providing official client advisor certificates as well as bridging into further education degrees and customized programs.

SWISS BANKING SCHOOL CERTIFICATION

A JOINT OFFERING FOR CERTIFICATION OF CLIENT ADVISORS

SWISS BANKING SCHOOL CERTIFICATION

A JOINT OFFERING FOR CERTIFICATION OF CLIENT ADVISORS

|

Contact

May 29, 20177

Dr. Christoph GosdenozDr. Christoph GosdenozDr. Christoph GosdenozDr. Christoph Gosdenoz

Director Swiss Banking School Certification

Phone: +41 44 254 30 58

E-mail: christoph.gosdenoz@sfi.ch

Olivia Olivia Olivia Olivia DöllDöllDöllDöll

Swiss Banking School Cer+fica+on ─ Geneva

Phone: +41 78 941 65 26

E-mail: olivia.doell@sfi.ch

Catherine LehmannCatherine LehmannCatherine LehmannCatherine Lehmann

Swiss Banking School Cer+fica+on ─ Zurich

Phone: +41 44 254 30 86

E-mail: catherine.lehmann@sfi.ch

Swiss Finance Institute

Walchestrasse 9

8006 Zurich

SAQ RM Certification: Delivery to Foreign Banks

Kalaidos partnerships

Kalaidos: Marco Rüstmann

Genève: Institut Supérieur de Formation Bancaire ISFBFrédéric Kohler Lugano: Centro di Studi Bancari

Alberto Stival, Nadir Rodoni Zürich: Fachschule für Bankwirtschaft

Daniela Stehli

SAQ Zertifizierung im CWMA-Zertifikat:Relationship ManagerInhouse-Seminare & schriftliche und mündlichePrüfungen

Dr. Marco Rüstmann

Leiter Personenzertifizierung, Kalaidos Fachhochschule

Daniela Stehli-Wiederkehr

Inhaberin und Geschäftsführerin, Fachschule für Bankwirtschaft AG

Zürich, 7. Juni 2017

Lernwege zum Zertifikat mit der Fachschule fürBankwirtschaft & der Kalaidos Fachhochschule

Selbststudium

Formen Spezifisch für das Selbststudium entwickelte Lernhefte

Alle Lernhefte als E-Book und als Print verfügbar

E-Learning mit ergänzenden Hilfsmitteln wie Einstufungstests undProbeprüfungen

Sprachen Deutsch, Französisch, Italienisch, neu Englisch ab August 2017

Inhouse-Seminare: Inhalt und Ablauf

Inhalt Repetition der wichtigen Inhalte, verbunden mit praktischen Beispielen

Fragen / Antworten und Diskussion

Wo sinnvoll: Institutsspezifische Inhalte

Kundenanalyse-Prozess

Produkte und Konditionen

Kreditvergabe: Verwendung internes Weisungswesen

Ablauf Wissensvermittlung

Pro Thema: kurze Wissenssicherer

Ende Seminar: Lösen Übungsserie

Inhouse-Seminare: Unsere Erfahrung

Mensch : Mensch – Kommunikation wichtig!

Austausch, Networking mit Kollegen / Dozenten

Lerninhalte: ausgedruckt und bearbeitet

Kundenberater sind in der Regel gut vorbereitet

Prüfungsangst kann reduziert werden

Schriftliche und mündliche Zertifikatsprüfungen CWMA

Wir führen bereits seit zwei Jahren SAQ konforme schriftliche und mündlicheZertifikatsprüfungen durch.

Die schriftlichen Zertifikatsprüfungen im CMWA dauern 300 Minuten.

Wir bieten daher drei Teilprüfungen für dieses Zertifikat an, so dass Sie sichdie Unterlagen für die Prüfungsvorbereitung entsprechen aufteilen können.

In Zürich können Sie alle 6 Wochen schriftliche (Teil-) Prüfungen undmindestens alle drei Monate mündliche Zertifikatsprüfungen bei uns ablegen.

Nach Bedarf organisieren wir zusätzliche mündliche Prüfungen und schriftlichePrüfungen für Firmenkunden.

Unsere Kunden

Bisher erbringen wir bereits umfangreiche Dienstleistungen in der Vorbereitungauf die CWMA & andern Zertifikatsprüfungen und in der Durchführung derPrüfungen in den Sprachen Deutsch, Französisch und Italienisch für zwölfBanken. Es handelt sich um die folgenden Kunden:

die Banques Cantonales Latines mit der Genfer Kantonalbank, BernerKantonalbank, Freiburger Kantonalbank, Neuenburger Kantonalbank,Tessiner Kantonalbank, Walliser Kantonalbank, Jurassische Kantonalbankund Waadtländische Kantonalbank.

die Bank CIC

die Liechtensteinische Landesbank

die Raiffeisen Gruppe

die M.M.Warburg Bank (Schweiz) AG

Rezertifzierung über durch SAQ anerkannte Seminare

Rezertifizierung, alle 3 Jahre, insgesamt24 h, davon 16 h Fachwissen

Unsere Themen (Auswahl)

Regulierung

Compliance / Crossborder

Fintech / Cyber Risk

DCF-Methode

Anlageprodukte

Vielen Dank für Ihre Aufmerksamkeit!

SAQ RM Certification: Delivery to Foreign Banks

12.40-13.30 Networking

Q&A Information Gathering Buffet Lunch