In the UK, steps have been taken since 2016 to ensure improved outcomes for consumers of financial services. One such initiative has been the introduction of the Certification Regime. This forms part of the regulatory drive to increase the accountability of individuals working in the sector but who are not part of the Senior Managers Regime. The Certification Regime applies to employees whose role means it is possible for them to cause significant harm to their firm or customers. These roles are called 'certification functions' and include roles where individuals are in customer-facing roles that are subject to qualification requirements.
Under the regime firms must assess and certify that these people are fit and proper to perform their role. This has to be done on recruitment and, thereafter, at least once a year; in most firms this usually forms part of the performance review process. It can be a difficult, complex and time-consuming task for firms to undertake; checking competence, behaviour and personal characteristics. But help is on hand whether you are an employer or employee.
Building on our many years of experience in assessing individuals' professional competence, and working with our colleagues at the Chartered Institute for Securities and Investment (CISI), we have introduced a ‘Certificate of Professionalism.’ It is available to members that wish to have formal recognition of their personal commitment to maintaining their professional knowledge and skills, whilst upholding the highest standards of professional behaviour.
Our Certificate of Professionalism can help firms by providing independent verification of an individual’s standing. When combined with evidence from within the firm of an individual’s fitness and propriety, the Certificate demonstrates a commitment to upholding standards of behaviour and competence that exceeds regulatory requirements, in a way that addresses the spirit as well as the letter of the rules.
And it’s easy: no complicated application form, no additional cost. Institute members that have met our requirements can simply log into their Institute homepage at charteredbanker.com and they will be able to download a copy of their Certificate of Professionalism, certifying their competence, behaviour, fitness and propriety.
Certificates are issued annually in January to members that have met our ongoing requirements, but can be downloaded at any time through the year.
We expect our members to demonstrate their competence, behaviour, fitness and propriety by meeting, as a minimum, each of the following requirements:
- Professional Knowledge: individuals must hold a relevant professional banking qualification either awarded by or recognised by the Institute; and
- Continuing Professional Development (CPD): individuals must complete, and provide evidence of their CPD. This should be relevant to their role, and maintain and/or develop the knowledge gained through their professional qualification(s). We require all members to demonstrate a minimum of 5 hours of professional ethics education and development activities; and
- Commitment to Code of Professional Conduct: individuals must make a personal commitment to the expected values, attitudes and behaviours set out in the Chartered Banker Code of Professional Conduct and be a member in good standing of the Chartered Banker Institute.
We also publish a public register of all members that have successfully gained and maintained their Certificate of Professionalism.
If you are a member and qualify for the Certificate of Professionalism, please ensure you are logged in before attempting to download your certificate. If you experience any problems please contact: [email protected]