Make Me A Back Office Professional
The qualifications you will need to succeed in back office…
What is a Back Office Professional?
Professionals working in back and middle office, unlike front office, don’t liaise with customers to generate revenues and profits for the bank or financial institution. Back Office run as a support function to the front office (the revenue generating activities). Back and Middle office professionals work in Compliance , Risk Management, Finance, Operations, Technology, Human resources, Marketing and many other back and middle office roles. To work in back or middle office you will need to couple your skills with a great understanding of banking and finance.
“That sounds very fancy, but what do all these people do?”
Well, to secure a career in back office you will need to know, so keep reading to find out how…
How do I become a Back Office Professional?
Top Roles in Back and Middle Office are very competitive and careers are reserved for the most dedicated students and graduates. The financial rewards for working in banking and finance are significant and becoming a back office professional will require you to go the extra mile. If this is the career path for you, you will want to get the industry standard qualification…
What qualification do I get?
You will need to train for the CISI (Formerly SII) Investment Administration Qualification (IAQ). The IAQ™ is designed to provide settlement, risk management, IT, HR, Compliance, administration and operations staff with an understanding of the industry, the regulatory environment and their specific area of work. Anyone that has an interest in working in financial services will be interested in this examination.
The IAQ comprises of three units; Unit 1 – Introduction to Securities and Investment, Unit 2 – FSA Regulatory Environment and a Technical Unit (determined by your role)
Unit 1 – This unit provides individuals looking for a career in back office with an understanding of:
- The breadth of the banking and finance industry
- The regulatory framework
- How the industry functions
- The basics of the various financial instruments including shares, bonds, and derivatives
Unit 2 – FSA Financial Regulation – This unit covers the regulations and legislation underpinning the financial markets and the conduct of investment business. It provides an understanding of:
- The regulatory environment in which the UK securities industry operates
- The relevance of the Financial Services and Markets Act 2000
- The European Union Directives
- The FSA’s Conduct of Business Rules and Client Assets Rules
- The complaints and redress procedures
Unit 3 - The IAQ™ technical units reflect the specialist areas of financial services operations and administration in which youwant to work. You can select the unit which best applies to your job role from the options below (Don’t worry! One of our career consultants can tell you which one is right for you):
- Asset Servicing
- CREST Settlement
- Exchange-Traded Derivatives Administration
- Global Securities Operations
- Collective Investment Schemes Administration
- ISA Administration
- ISA & CTF Administration
- Operational Risk
- OTC Derivatives Administration
- IT in Investment Operations
- Private Client Administration
Why complete the IAQ?
All the units of the IAQ™ appear on the Financial Services Skills Council’s List of Recommended Examinations and supporting the IAQ™ programme demonstrates professionalism and commitment to high standards. Once you’ve taken it, you can apply to the Chartered Institute of Securities and Investment to become an associate member.
Often, if you go to an interview, it’s expected by many employers that you will have this qualification on your CV.
IAQ and the RDR
In case you are not familiar with the new RDR regulations yet, the FSA’s Retail Distribution Review (RDR) introduces new exam requirements for those who advise retail clients on investments. All RDR qualifications routes must be at level 4 or higher. This is an important change because most Appropriate Examinations are currently at level 3 in the UK qualification structure. The FSA deadline for existing advisers to obtain level four qualifications has been confirmed as 31 December 2012.
The IAQ will remain a Level 3 qualification and wont’ be affected by the new RDR requirements
When can I take the IAQ Exams?
CISI exams are computer based and can be taken at any of the specified test centres any time throughout the year.
How will I study for the IAQ?
You will study at a time and place convenient to you with 7city’ss high-tech online distance learning package or study at their state of the art training centre in London.
7c-online™ for the CIS IAQ is the industry benchmark featuring interactive learning resources and performance monitoring to identify weak areas and send targeted content and advice to remedy problem areas.
Through your 7c online™ account you can access classroom recordings, online mocks, practice question banks, email a day and the online helpdesk. Active analysis of your work patterns and performance guides your study and is seamlessly integrated into your online account, ensuring a cohesive learning experience.
Recordings
Classroom sessions are available as recordings to watch via your 7c-online account. Complete with the tutors’ annotations, they re-create the classroom environment and are ideal for re-capping and future playback after the course.
Mobile Learning
Classroom recordings are also available as downloadable podcasts in MP3 or MP4 format – ideal for learning on the move!
Email-a-day
Email-a-day delivers bite-sized practice questions to your desktop from the day you enrol on the course to the exam day itself. It will identify your weak spots, sending targeted content and advice to remedy problem areas and giving you a convenient and easy way to stay on top of your studies.
Questions and Online Mocks
Our question bank contains hundreds of constantly updated practice questions. By taking mock exams at key times, you can keep on top of your learning and be constantly sharpening your mind for the real thing.
How can I get the best price on the CISI Investment Administration Qualification?
We are able to offer you qualifications cheaper than anywhere else due to our unique relationship with 7city, who is a leading qualifications provider, so you get the best training available.
If you would like to find out more about training in London or through distance learning you can get an exclusive discount if you contact Ben Scott or Stuart Empson on 0845 072 7620.
You must quote Benedix as a reference to claim your discount
If you would like a personal consultation with regards to qualification choices contact a consultant at Benedix on 0208 742 9749.
