Recognized National Development Committee approves final submission on qualifications for retail bankers

Recognized National Development Committee approves

final submission on qualifications for retail bankers

Meeting at EIBFS finalizes report to be presented to National Qualifications Authority

Dubai-UAE: November 13, 2018 – The Recognized National Development Committee [RNDC], a subcommittee comprising representatives of leading banks in the UAE, the Emirates Institute for Banking and Financial Studies [EIBFS] and National Qualifications Authority [NQA], has approved the final submission of the principal qualifications framework for entry-level certified retail bankers in the UAE.

At a meeting held in the EIBFS campus in Dubai, the RNDC meeting finalised the framework, which has been forwarded to NQA for final approvals. Subsequent to the approval, EIBFS expects the new certification program to be launched in the first quarter of 2019. In line with this, EIBFS will start a new job family in the UAE banking sector, as also launching the advanced level course program in the retail banking certificate.

The certification program will focus on three distinct modules that define the job roles of entry-level certified retail bankers – customer service, operations and sales.

This certification will be a pivotal step forward in supporting UAE nationals in the banking sector progress beyond entry-level roles.

Jamal Al Jassmi, General Manager of EIBFS, said: “The national qualifications framework for various positions within the UAE banking sector will ensure that entry-level banking professionals receive consistent and high-quality training. EIBFS has been working with industry experts on this framework – including the skills and competencies required for the positions. It is great to know that RNDC has finalised the framework for approvals from National Qualifications Authority.”

He added: “EIBFS would like to thank all the committee members, as well as the UAE banking sector for their valuable feedback and suggestions, which formed the basis for this certification framework.”

The RNDC meeting was attended by Abdulfattah Sharaf, CEO of HSBC UAE, Hussam Al Sayed, General Manager – Group Human Resources at Emirates NBD, Eman Jassim, Head of Human Resources at Sharjah Islamic Bank, Anny May from NQA, and Noura Abbas Ahmed, Director – Program Administration & Delivery Division at EIBFS.

Abdulfattah Sharaf, CEO of HSBC UAE, said: “It was a great experience to be a part of the RNDC to formulate and finalise the principal qualifications framework for entry-level certified retail bankers. This approach will provide the UAE National employees in the banking sector with a great opportunity to build their skill sets that will enable them to become future leaders and participate in the growth of the UAE banking sector. I thank the EIBFS for its support in this endeavor.”

The qualifications framework stemmed from the belief that compliance training should be mandatory in today’s banking sector, where risk assessment and implementation of global regulatory standards are among the critical components of successful banking operations.

eibfs Annual HR Managers Forum Explores Design Thinking, Innovation in Banking

Emirates Institute for Banking and Financial Studies’ Annual HR Managers Forum Explores Design Thinking, Innovation in Banking

  • Innovation expert David Robertson headlines event
  • Forum highlights need to develop fintech skills among UAE banking professionals

Dubai-UAE: 7 November, 2018 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted its annual HR Managers Forum at the institute’s campus in Dubai International Academic City.

Held earlier this week, the event convened over 800 HR professionals from various UAE banks, including First Abu Dhabi Bank, Dubai Islamic Bank, Sharjah Islamic Bank, Ajman Bank, Mashreq, Emirates NBD, NBQ and National Bank of Fujairah.

The forum aimed to evaluate the progress of the institute in addressing the members’ needs over the past year and explore ways of meeting their expectations in the fast-evolving marketplace marked by rapid emergence of innovative technologies that require specialized training.

During the meeting, the participants discussed the EIBFS 2019 Annual Training Plan, the changing job market and the creation of new specialist roles in banking, particularly in the new technologies space.

Headlining the event, David Robertson, globally renowned innovation speaker, author and Senior Lecturer at the MIT Sloan School of Management, spoke on design thinking and its role in harnessing creativity and innovation. In his presentation, he demonstrated how banks and other businesses can use design thinking to solve problems and understand unmet customer needs with a substantially improved success rate.

In his speech, His Excellency Hesham Abdullah Al Qassim, Chairman of EIBFS, said: “Our annual gathering provides us with an ideal platform to connect with the HR community. Today, we are facing unprecedented disruption due to the unparalleled pace of technological development, and the financial industry is at the forefront of this disruption. If we manage this well, we can leverage the latest technologies for our benefit. However, if we fail to adequately prepare our workforce, the same technologies could become the reason for the displacement of professionals in the industry.”

He added: “In line with our 2017-2018 strategy, we have revamped the EIBFS 2019 Annual Training Plan to better cater to the needs of our stakeholders. Offering a total of 690 programs, the plan places high emphasis on techno-functional skills and introduces a new suite of fintech programs. This is a testament to the institute’s ever-growing support of the digital transformation of the banking and finance industry.”

Welcoming the delegates, Jamal Al Jassmi, General Manager of EIBFS, said: “The HR Managers Forum seeks to examine the challenges facing the industry in terms of talent needs and identify ways to address the gap between demand and supply. This gap has become even more acute in this age of digitalization, as banks and other financial institutions have started adopting disruptive technologies such as blockchain, artificial intelligence, data analytics and machine learning. Our strategy has always been to listen to the feedback from HR managers and then talk to specialists and come back with recommendations that address the needs of our members. It is crucial that we consistently offer the highest standards of training that effectively step up the productivity of the participating organizations to the next level.”

He added: “At the forum, we discussed several constructive proposals to enhance our training offering. As we finalize our plans for 2019 and add fintech training to our course topics, these recommendations from HR managers will help us develop and deliver quality training programs.”

Speaking on the HR Managers Forum, Hussam Al Sayed, General Manager of Group Human Resources at Emirates NBD, said: “Financial institutions are critical to any economy, and therefore it is of the utmost importance that the sector’s workforce competencies are up to date. The annual HR Managers Forum at EIBFS provides a perfect opportunity to understand what we as members of the banking community can do to upskill our employees. Staying up to date with technology is the need of the hour, and we are pleased to note that EIBFS has structured its annual training plan accordingly.”

During the session, Noura Abbas Ahmed, Director of Training at EIBFS, presented the training results for 2018 and a comprehensive training needs analysis for 2019. She highlighted the important role of the Institute’s Advisory Committee in evaluating the ongoing training plans, identifying current industry trends and the gaps that need to be addressed, and adapting training platforms to equip the personnel with the required skills in the most effective manner.

In 2019, EIBFS will offer 690 regular training and development programs – 28 percent more than in 2018. Most of the newly introduced programs focus on fintech and other digital technologies, based on the recommendations of the EIBFS Board of Directors, the Advisory Board and UAE banks.

The EIBFS 2019 Annual Training Plan involves the launch of four mobile learning apps, catering to smartphone-savvy learners and supporting a seamless, scalable and interactive learning process. The apps will include:

  • EIBFS Training : Helping students stay connected while on the go, the app will provide access to relevant information about EIBFS, its training programs, corporate directory and locations, as well as the option to submit applications for the programs and monitor their status.
  • EIBFS Education : The app will offer a detailed overview of existing as well as upcoming training programs, including notifications on the latest developments.
  • EIBFS Library : The information resource app will enable database search on a wide range of subjects covered in the training courses.
  • EIBFS Research: The app will contain information on research strategies, detail how to get published in the Institute’s International Journal of Research in Banking and Finance, and include blogs by industry experts and white papers, as well as economic and industry reports.

EIBFS will deliver its online learning programs via Moodle – a powerful open-source e-learning platform that will be integrated with the Institute’s own training portal. EIBFS will also upgrade its existing e-learning portfolio with Intuition, a learning management system that combines technology and blended learning solutions.

The new fintech programs, comprising 13 courses across 40 schedules, will include Masterclass in Business Analytics and Analytics Using Python, as well as continuing professional development courses, such as Future of Banking, Fintech 101, Blockchain Applications, AI and Machine Learning, IoT Application and Cybersecurity. The two-day courses will be delivered by fintech experts from select banks.

In addition, EIBFS will offer the Fintech and Analytics Vertical training program across its three campuses in Dubai, Sharjah and Abu Dhabi, catering exclusively to banking professionals, spanning two levels – Intermediate and Advanced, and utilizing blended learning and simulation.