2 August 2004...The Wealth Management Institute (WMI) and ACI Singapore (The Financial Markets Association) today announced details of the training programmes they will conduct under the Financial Sector Manpower Conversion Scheme (FSMCS).

2   The Monetary Authority of Singapore (MAS) announced the FSMCS initiative in June 2004. With strong growth in the wealth management industry, and the consolidation of some regional and global settlement operations into Singapore, it is estimated that these activities will need at least an additional 300 professionals by next year. The scheme aims to help re-channel manpower quickly to new growth areas in the financial sector through customised conversion training programmes. MAS will continue to work with the industry to identify new growth areas and launch suitable conversion programmes to address manpower shortage in those areas. 

3   WMI will conduct the conversion programme for private banking. The curriculum is designed to enable participants to make the career transition to private banking. It aims to impart two key skill sets. These are the sales and relationship skills required for approaching, nurturing and servicing of clients, and the technical skills comprising product knowledge and financial planning. Applications for WMI Certificate in Private Banking will close on 12 August 2004.    

4   WMI held a public talk last Saturday 31 July 04, to provide details of the programme. Close to 150 interested participants from the financial sector and other industries attended the talk. "We are very encouraged by the enthusiasm of the participants. They asked good questions and there was a good exchange of views with the private bankers. We are optimistic that the response to the course will be good," said Mrs Annie Wee, Executive Director of WMI.  

5   ACI Singapore will conduct the conversion programme for settlements operations. The Settlements Operations Training Course (SOTC) is application and practice-oriented.  SOTC will give participants a comprehensive grounding on broad asset classes. It will also give them a good understanding of the control process and train them to operate the controls systems.

6   The inaugural ACI Singapore SOTC will begin on 2 September 2004. ACI Singapore is holding a public talk to provide more details on the programme. Participants will have the opportunity to meet the trainers, view the course materials, clarify the administrative details and confirm their registration during the talk.  This will be held at: 

ACI Singapore Settlements Operations Training Course Information Talk
Venue:  Bloomberg Singapore, 23 Church Street, Capital Square, 12th Fl
Date:  10.00am, 14 August 2004 (Saturday)

Call 6227-8110 or email secretariat@acisin.com to sign up for the talk.