Modules Classroom Hours
Wealth Planning With Trust 10 Hours
This module is key for participants to understand how to use wealth planning structures effectively to address the unique needs of the clients. It will cover the factors that will need to be considered in creating suitable structures, as well as key concepts on succession and rights. Relevant case laws and case studies will also be used to illustrate the nuances and delicate considerations of each concept and situation.
Regulatory Compliance 3 Hours
This module covers the overview of the relevant legislative, regulatory and industry requirements, as well as highlights the recent changes and the implications to the trust industry. Participants will learn to apply best practices and guidelines on compliance procedures and practices to ensure compliance with relevant legislation and regulatory requirements.
Tax In Wealth And Estate Planning 3 Hours
The Tax module explores the key principles and practices of both the local and international taxation regimes that impact trust structures of the clients, as well as the trustee companies. Participants will dive into a comprehensive overview of the tax systems around the world, as well as the basic tenets governing international tax planning solutions. The module will also cover tax treaties between countries, its impact on trusts, and the Singapore tax framework and exemptions for foreign as well as locally administered trusts.
Client Acquisition And On-Boarding 2 Hours
This module delves into the three key components of (i) client acquisition (ii) acceptance and on-boarding of new clients, and (iii) the ongoing servicing and periodic review for the clients. Participants will learn to identify business opportunities and design account plans to forge relationships with the clients, as well as understand the importance of Know Your Client (KYC), Know Your Risk (KYR) and Know Your Structure (KYS). Participants will also learn skills needed to identify the sources of information as well as understand escalation and remedial actions needed for risks mitigation.
Trust Operations And Administration 12 Hours
In the administration of a trust, it is imperative that the trust personnel perform its fiduciary duties and contractual responsibilities with professionalism, care and skill. This module will bring the participants through the stages of trust administration, with worked examples to show the actual administration, and highlight the duties of the trust personnel and the considerations at each stage. Case studies and case laws will be used to bring out the complexities and nuances faced in unique and complex situations. Module coverage include documentation, managing assets and distributions, funding of the structures, executorship and administration and the fiduciary duties of the trustee.
Estate Trusteeship 2 Hours
Management And Governance 6 Hours
Management and Governance prepares professionals in leadership positions as well as aspiring leaders with effective stakeholder management skillsets and industry best practices to review organisational performance management strategies. In this module, participants will also learn to appraise the various business propositions that a trust structure can bring to the client. The module lays down the various organizational, functional and governance issues faced in the management of a trust. Legal, functional and general duties of a trustee, as well as the exemptions to duty of care and skill, will also be discussed.
Risk Management And Control 6 Hours
This module deep dives into the organisational risk management framework including compliance, monitoring and internal control functions in a trust company. Critical risk events and fiduciary duties involved in the various stages of operations will be highlighted. Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) will be covered. Case studies will be used to enhance the learner’s understanding and application of risk control and risk response approaches. In addition, the session will also cover the compliance vulnerabilities and the evolving regulatory standards.