Programmes
Graduate Diploma, Compliance in Financial Services

Curriculum

This programme is conducted on a part-time basis and you may select any module or complete the programme in a schedule that best fits you. Modules are delivered through a blended learning pedagogy, building on interactive pre-class online learning for foundation concepts and knowledge, reserving classroom for skills application and topics that have higher complexity. Modules feature assessments to check for learning transfer covered in online and classroom sessions.

Modules Online Hours Classroom Hours

Compliance risks have become the biggest risks for global financial institutions.  In the worst case, they threaten the very existence of these firms.  Compliance risks are driven by regulation and enforcement by supervisory and criminal authorities.

This module is designed to allow participants to identify and distinguish the major compliance issues and risks and their evolution from other legal risks.  It outlines regulators’ expectations of the core ethical values of regulated firms and their compliance systems, and describes the compliance risks to firms, their managers, and compliance officers personally.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

As a Compliance practitioner, it is necessary to understand how to develop and establish the compliance strategy, program and overall direction for the specified entity, jurisdiction, business activity you are responsible for.  Business and functions may also have to implement/refresh their procedures to achieve compliance with the relevant requirements.  This involves stakeholder management at various levels including board, senior management, business line, regulators, auditors, as well as within the compliance function.

This module is designed to provide the understanding, framework, key principles, tools and methodologies to derive and deliver the above.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Having a good understanding of licensing and permitted businesses under the different banking licenses is critical for operating in the banking industry.  Being able to appreciate policy intent and requirements of various regulatory requirements and instruments is essential to the management of compliance risks.  Beyond discussion on Singapore’s regulatory framework and regulatory expectations of retails banks, this course covers topics such as Consumer and Data protection.  In the space of Fintech and Digital Bank, this course will discuss regulations surrounding non-financial business and the associated landscape which continues to evolve dynamically.

Put together, this module offers the learner comprehensive coverage of current and forward-looking regulatory considerations.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Financial Crime Compliance has emerged as a key area of focus of regulators worldwide.  Significant fines and penalties have been applied to global and local organisations.

This module provides an introduction to Singapore regulation, an overview of the key financial crime risks in the industry, and how financial institutions should be designing their programs and adapting to the changing technological landscape.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Private banking and wealth management have become a substantive sub-sector within financial services.  The wide range of services, special risks and sensitivities create particular challenges in dealing with private clients.

This module aims at equipping participants with a clear understanding of the challenges as well as relevant regulations and regulatory expectations in wealth management and the role of different actors in this space, namely external asset managers, throughout the lifecycle of private clients.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Having a good understanding of rules and regulations governing capital markets is a pertinent prerequisite for operating in this industry.  At its core, this is about trust which means acting with integrity, always acting in the best interests of the client, making disclosures more accessible and understandable promoting good culture and conduct.

This module aims to enable participants to demonstrate a clear understanding of rules and regulations governing the capital markets and ethical conduct, analyze the business and operational impact of the regulations on business units and recommend industry best practices, and identify changes to policies and procedures to meet regulatory requirements.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

A critical prerequisite for a good Compliance Officer is strong technical skills and in-depth knowledge of the rules and regulations, and how these should be interpreted and applied to the relevant activities.  The Compliance Departments develop policies and procedures to help organisations comply with the regulations and internal standards.

This module aims to equip participants with the relevant skills to understand and manage compliance risks in the financial services industry in line with regulatory expectations. Scope includes overview of asset management and investment advisory business; compliance considerations for product structuring, product offering and investment advisory

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Compliance officers play a vital role in their respective organizations. That role has traditionally been to ensure that financial institutions operate with integrity and adhere to applicable laws, regulations, and internal policies.  In recent years however, there has been a drive to expand the mandate and expectations of a compliance officer and to better balance its role as an advisor to the front line with its role of providing challenge and independent oversight.  Challenge and control responsibility is supported by robust compliance monitoring, surveillance, and controls programs.

This module aims to cover how to set up and operate effective and efficient monitoring, surveillance and control processes in the financial services industry, leveraging the use of technology.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

This module aims to explain the importance of data and data analytics for the compliance function.  It is designed to provide financial institution practitioners with awareness of data governance, the key data management components such as data lineage, data quality etc. and how these data components are critical to enable effective and efficient customer risk management and compliance monitoring for purposes of KYC / AML compliance.

The module will explore how current digitalisation trends will change the compliance landscape from a KYC / AML compliance perspective.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Over the past decades, the importance of compliance within the financial industry has increased year over year, and legal, compliance and regulatory functions saw growth in most organizations.  This significance resulted in a relevant bottom-line impact for most financial institutions and therefore, the quest for efficiency increase in compliance has become a key goal for many organizations.  Today’s technologies are able to transform many traditional legal and compliance tasks but require the knowledge to understand technologies and select appropriate tools for distinct tasks.

This module aims to provide participants with the skills to critically assess different technologies for different compliance tasks, define respective business requirements and successfully implement respective tools in an organization.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Compliance managers play a vital role in their respective organisations.  They not only assist to develop and implement control frameworks within institutions, but also play a key role in handling serious compliance incidents when they arise.  Having a clear understanding of financial services industry best practices and regulations when it comes to handling serious compliance incidents is a critical prerequisite for operating in the industry in order to meet the expectations of regulators.

This module aims to establish processes and procedures for handling serious compliance incidents in the financial services industry in line with regulatory expectations.  Scope includes detecting, investigating, escalating and reporting of serious compliance incidents as well as disciplinary sanctions of serious compliance breaches.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

Following a compliance risk assessment being conducted with agreed recommendations and outcomes, the compliance strategy being articulated and approved, the compliance risk appetite being developed, quantified, and approved, the process of executing the approved compliance program needs to take place, with clear mechanisms for successful delivery and assurances of the desired outcomes.  This requires a clearly articulated design and program of works.

This module aims to provide a clear understanding of how this program would be designed, implemented, monitored and reviewed.

Assessment:

  • Individual | Multiple Choice Questions | 50%
  • Individual | Class Participation and Online Learning | 10%
  • Group | Case Studies | 40%

This group project is a capstone for the Graduate Diploma in Compliance in Financial Services.  This module guides participants in collaborative projects with leading Financial Institutions where participants provide well researched, analytically rigorous and actionable recommendations for complex real-world compliance issues, including all elements of a comprehensive compliance process.

Participants will draw on the latest thinking acquired from the standalone modules, practical application of skills and past work experiences to demonstrate understanding of current and future compliance trends and regulators’ expectations.

Assessment:

  • Individual | Peer Evaluation and Assessment | 10%
  • Individual | Class Participation | 10%
  • Group | Project | 80%

Faculty

Course Name Faculty
(Part-Time)
Qualification
Compliance Risk and Compliance Conduct

Capstone Project

Prof Urs Zulauf Ph.D. in Law, University of Berne
Compliance Strategy, Policy and Advice

Design, Implement and Review High Impact Compliance Solutions

Capstone Project

Ms Sharon Craggs Master of Science Digital Innovation for FinTech, Brandeis University, Waltham, Massachusetts

Master of Arts, University of Cambridge

Retail Banking and Fintech Regulation Ms Loretta Yuen Bachelor of Laws, National University of Singapore
Financial Crime Regulation Ms Mabel Ha Master of Business Administration, Rotterdam School of Management
Private Client Compliance Lifecycle and External Asset Managers Mr Rolf Haudenschild Master of Laws in International Financial Law, King’s College London
Capital Markets Regulation Mr Chiew Tuan York Master of Applied Finance, Macquarie University
Compliance in Asset Management and Financial Advisory Services Ms Grace Chong Master of Business Administration, Nanyang Business School, Nanyang Technological University
Compliance Monitoring Surveillance and Controls Mr Mirko Jurisic Master of Economics, University of Zagreb, Republic of Croatia
Compliance Data Analytics Mr Raymond Choa Master of Business Administration, University of Warwick, Warwick Business School
Compliance Technology (Regulatory Technology) Mr Ralf Huber Master of Law, University of Zurich, The Faculty of Law
Handling Serious Compliance Incidents Mr Peter Ladd Bachelor of Laws, Deakin University, Melbourne, Australia

Certification & Funding

Participants who successfully complete the Graduate Diploma, Compliance in Finance Services programme will be awarded:

  • WMI CERTIFICATION

    Upon successful completion of each module, participants will be awarded:

    • – WMI Certificate of Achievement

    GRADUATE DIPLOMA

    Upon meeting all Graduation Criteria listed below, participants will be awarded “Graduate Diploma, Compliance in Financial Services” issued by Wealth Management Institute International Pte Ltd.

    • Graduation Criteria
    • – Successful completion of all twelve 13-hour course and assessments as well as the 39-hour Capstone Project with minimum score of 50% (no reassessments)
    • – Achieve a minimum CGPA of 2.50 at the completion of the Graduate Diploma
    • – Complete the Graduate Diploma within 3 years from the date of admission of the first course taken
  • IBF CERTIFICATION*

    Successful recipients of the “Graduate Diploma, Compliance in Financial Services” who have at least 3 years’ relevant experience and meet all other relevant IBF certification criteria can apply for IBF Advanced (Level 2) Certification* in the following:

Module
(refer to the curriculum table below under Programme Calendar)
IBF Advanced (Level 2) certification
1, 2, (3, 5, 6 or 7)^, 12 Compliance Advisory (segment specific)^
1, 2, 4, 8 & 10 Monitoring Surveillance & Testing
1, 2, 9, & 10 Compliance Analytics
1, 2, 4, 8, 10 & 11 Financial Crime Regulation

^To be eligible to apply for IBF Advance (Level 2) certification in Compliance Advisory (Retail Banking & FinTech), only one of the four modules is required for completion. For example, modules 1, 2, 3 and 12.

Please visit https://www.ibf.org.sg/certification/Pages/Why-be-Certified.aspx for more information on the IBF Certification.

IBF Standards Training Scheme (IBF-STS) Funding

This programme is pending accreditation review by The Institute of Banking and Finance (IBF).  Upon successful accreditation by IBF, each module will be eligible for IBF-STS funding for direct training costs. T&Cs apply. Find out more at https://www.ibf.org.sg/programmes/Pages/IBF-STS.aspx.

Fees

Modules Full Fees (S$) Fees after IBF-STS Funding
(For Singaporeans / PR) (S$)
Company-Sponsored Self-Sponsored
Compliance Risk and Compliance Conduct 2,782.00 312.00 139.10
Compliance Strategy, Policy and Advice 2,782.00 442.00 278.20
Retail Banking and FinTech Regulation 2,782.00 442.00 278.20
Financial Crime Regulation 2,782.00 442.00 278.20
Private Client Compliance Lifestyle and External Asset Managers 2,782.00 442.00 278.20
Capital Markets Regulation 2,782.00 442.00 278.20
Compliance in Asset Management and Financial Advisory Services 2,782.00 442.00 278.20
Compliance Monitoring, Surveillance and Controls 2,782.00 442.00 278.20
Compliance Data Analytics 2,782.00 442.00 278.20
Compliance Technology (Regulatory Technology) 2,782.00 962.00 834.60
Handling Serious Compliance Incidents 2,782.00 962.00 834.60
Design, Implement and Review High Impact Compliance Solutions 2,782.00 962.00 834.60
Capstone Project 8,346.00 2,886.00 2,503.80

A non-refundable application fee of S$85 is required upon application submission.

The information above is correct at the time of publication. The Wealth Management Institute reserves the right to amend the fees and/or terms and conditions as appropriate.​

Admission Criteria

Minimum Education Diploma or equivalent
Minimum Work Experience 3 years’ industry experience
Minimum English Language requirement (only if English was not the medium of instruction used at the highest qualification) TOEFL score > 100; IBT or IELTS score > 6.5.

WMI will consider exceptions on a case-by-case basis and if needed, an interview may be requested.

Programme Calendar

No Modules Classroom Sessions
1 Compliance Risk and Compliance Conduct Thursday, 17 June 2021
Friday, 18 June 2021
2 Compliance Strategy, Policy and Advice Friday, 9 July 2021
Saturday, 10 July 2021
3 Retail Banking and FinTech Regulation Friday, 30 July 2021
Saturday, 31 July 2021
4 Financial Crime Regulation Friday, 27 August 2021
Saturday, 28 August 2021
5 Private Client Compliance Lifecycle and External Asset Managers Thursday, 9 September 2021
Friday, 10 September 2021
6 Capital Markets Regulation Thursday, 30 September 2021
Friday, 1 October 2021
7 Compliance in Asset Management and Financial Advisory Services Thursday, 28 October 2021
Friday, 29 October 2021
8 Compliance Monitoring, Surveillance and Controls Thursday, 18 November 2021
Friday, 19 November 2021
9 Compliance Data Analytics Thursday, 9 December 2021
Friday, 10 December 2021
10 Compliance Technology (Regulatory Technology) Friday, 7 January 2022
Saturday, 8 January 2022
11 Handling Serious Compliance Incidents Friday, 28 January 2022
Saturday, 29 January 2022
12 Design, Implement & Review High Impact Compliance Solutions Thursday, 3 March 2022
Friday, 4 March 2022
13 Capstone Project** Monday, 9 May 2022
Friday, 13 May 2022

**Capstone Project is a five day industry-sponsored module. Participants are required to complete the 12 modules before taking this course.

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