Q1. What is IBF Certification?

The IBF Certification is an industry endorsed mark of quality for financial practitioners in Singapore. Individuals who successfully complete the requisite IBF accredited programmes and meet the relevant criteria may apply for IBF Certification. The IBF Certification is awarded to individuals who have acquired the relevant core competencies required for jobs in their respective industry segments, and are expected to uphold values of professional excellence, integrity and commitment to the industry.

Q2. Can I apply for more than one IBF Certification title?

Yes, you may apply for IBF Certification title across different job roles.

Q3. Using your IBF Certification Title in your business card, email signature and social media

Yes, you may use the professional certification title that you have been conferred on all communication materials (e.g. business card, email signatures, LinkedIn Profile).

Please refer to the IBF Certification Terms and Conditions for the artwork and colours of the certification / mark

Q4. Creating an IBF Portal Account for IBF Certification application

For Individuals

Please click here to apply for an individual IBF Portal Account. You may proceed to login with your Username and Password to apply for IBF Certification after you have created the account.

For Financial Institutions / IBF-Accredited Training Providers

Please click here to apply for an IBF Portal Account. You may proceed to login to apply for IBF Certification after IBF approves the account opening application.

You will need the following documents / information for application:

• Name and emails of two management representatives who will manage the account
• For MAS Licensed Financial Institutions (FI) and exempt entities, be listed on MAS FI directory
• For FinTech firms, obtained Singapore FinTech Association (SFA) Certification
• Company UEN number
•  Bank’s endorsed Direct Credit Authorisation form
•  ACRA Bizfile (for all non-MAS Licenced FI/entities)

Q5. Eligibility criteria to apply for IBF Certification

Individuals who successfully complete an eligible IBF-STS accredited assessment programme* and meet the relevant criteria may apply for IBF Certification.

* IBF-STS accredited Core Competency Skills (previously known as Generic Skills) and Future-Enabled Skills programmes will not be considered for IBF Certification. Only technical skills and competencies (TSCs) will be counted towards certification.

Q6. Documents needed to apply for IBF Certification

For Individual Applications

You will need the following documents for application:

• Certificate(s) of Completion
• Experience Requirement Form (for IBF Advanced Level 2 and 3) (form can be downloaded in application page)
• Resume / CV (for IBF Advanced Level 2 and 3)

For Group Applications (by Financial Institutions / IBF Accredited Training Providers)

You will need the following documents for application:

• Certificate(s) of Completion
• Experience Requirement Form (for IBF Advanced Level 2 and 3) (form can be downloaded in application page)
• Group Applicants’ Details (for group applications) (form can be downloaded in application page)
• Resume / CV (for IBF Advanced Level 2 and 3)
  

Q7. Can I complete more than 1 programme to attain IBF Certification?

Q8. Calculating the number of technical skills and competencies (TSCs) required for IBF Certification application

You will need to acquire 75% of the technical skills and competencies TSCs within your identified job role to be eligible for IBF Certification.

Illustration
An Assistant Relationship Manager - Retail Banking will have to fulfil 15 out of 20 TSCs (75%) to be eligible for IBF Certification.

Q9. Does the mandatory IBF certification requirement apply to Relationship Managers with more than 3 years of Private Banking experience overseas?

Individuals with experience as Private Banking Relationship Managers outside of Singapore can consider this as part of their years of experience. The relevant experience outside of Singapore need not be continuous. These individuals would, however, still be required to pass the CACS Assessment to assume the role of a Covered Person.

Q10. How can a Covered Person apply for IBF Certification in Private Banking?

A Covered Person can only be certified after he has successfully completed the required IBF accredited programmes. To apply for IBF Certification, please refer to www.ibf.org.sg for more information.

Q11. Processing time for IBF Certification application

The processing time may take up to 4 weeks.

Q12. Checking your IBF Certification application status

To view the status or records, please log in to MySkills Portfolio on the IBF Portal. Information will be shown in the “My Certification” tab.

For group applications submitted by Financial Institutions or Training Providers, you will have to create your individual IBF Portal account to view the status and to retrieve your e-certificate.

Q13. I want a hard copy of my IBF Certificate.

You may submit a request by logging in to MySkills Portfolio on the IBF Portal.

Q14. I want an electronic copy of my IBF Certificate.

Q15. Renewing your IBF Certification status

The certification status is automatically renewed upon fulfilment of the annual CPD requirement. All IBF certified individuals will be required to submit their declaration annually via MySkills Portfolio. It shall be the sole responsibility of the IBF Certified Individual to track and maintain his CPD records to ensure that his certification status will be renewed automatically.

The IBF Certified Individual is required to maintain and submit supporting documents (e.g. certificate of attendance/ completion, appointment letter or copy of published article etc.) for all CPD activities undertaken and records on how the required CPD hours are met. IBF reserves the right to conduct an audit on IBF Certified Individuals to ensure fulfilment of the IBF CPD requirements.

The IBF Certified Individual is also expected to observe the Terms and Conditions, Code of Ethics, and Standards of Professional Conduct during the tenure of the certification status, failing which the certification status might stand to be revoked.

Q16. Will I be required to fulfil any CPD hours to maintain my IBF Certification status?

IBF Certified Individuals are required to fulfil a minimum of 15 CPD hours annually which will commence from the year following the year of certification. Details on eligible CPD activities can be found here: IBF Certification Terms and Conditions.

Example:

An individual obtained his IBF Certification in July 2024. He will be required to fulfil a minimum of 15 CPD hours from 1 January 2025 onwards.

Q17. What are the CPD activities recognised by IBF for IBF Certified Individuals?

The annual CPD activities (both internal and external) prescribed should cover content that are directly relevant to the financial industry, which may include:

• Ethics / Market Conduct requirements;
• Product knowledge; 
• Skills / competencies; and/or
• Rules and Regulations / Compliance-related matters.

A wide variety of CPD activities will be recognised under the following broad categories and as described in the table below:

• Training & Education; 
• Instruction;
• Leadership; and
• Research & Publication

Q18. What is the retention period of my CPD records for renewal of my IBF Certification status?

You will need to keep your CPD records for 2 years. You can use the IBF MySkills Portfolio to help you to keep track of your training records.

Q19. I have attained IBF Certification in Financial Planning / Retail Banking. How do I calculate the number of excess training hours that I can carry over to the next calendar year for the fulfilment of FAA CPD hours?

 Please approach your organisation with regards to your training records as financial institutions are required to maintain records of each of its appointed representative to ascertain and track the CPD hours fulfilled.

For more information on recognition of IBF Certification towards the fulfilment of annual FAA CPD hours, please refer to the MAS Notice on Competency Requirements for Representatives of Financial Advisers (FAA-N26).

Q20.I have attained IBF Qualified (Level 1) and IBF Advanced (Level 2) within the same or consecutive years. Am I eligible to carry over the excess training hours to the next calendar year to fulfill the annual FAA CPD hours?

An individual who attains more than 1 IBF Certification in Financial Planning / Retail Banking, for example, IBF Qualified (Level 1) and IBF Advanced (Level 2) in 2024, he/she will be allowed to carry over the excess training hours undergone for both certifications to subsequent calendar years up to 2027.

In the case of an individual who attains IBF Advanced (Level 2) in 2024 and IBF Advanced (Level 3) in 2025, he/she will be allowed to carry over the excess training hours undergone as part of both certifications to subsequent calendar years up to 2029.

For more information on recognition of IBF Certification towards the fulfilment of annual FAA CPD hours, please refer to the MAS Notice on Competency Requirements for Representatives of Financial Advisers (FAA-N26).

Q48. What types of examination questions will be used in the IBF Examinations?

Exams questions comprise both knowledge-based and application-based questions. Knowledge- based questions test candidates’ factual knowledge and understanding of specific information. These questions typically focused on recalling information and requires the ability to remember specific details. Application-based questions test candidates’ ability to apply their knowledge to a particular job role, practical work situations or case scenario relevant to the concepts covered in the study guide. 

These are higher-order questions which test on concepts that could be covered across one or multiple chapters or sections in the study guide, and the questions may not be directly referenced from the study guide.  Application-based questions require the candidates to fully understand, synthesize and apply the concepts discussed in the study guide. Please also refer to Q47.

Q21. If a Covered Person has already obtained IBF Certification in Private Banking prior to 1 Jan 2019, will he be required to be re-certified?

A Covered Person who has already obtained IBF Certification in Private Banking will not be required to be re-certified. However, he will still be required to fulfil his annual CACS CPD obligation.