How the Institute of Banking and Finance is building a future-ready financial sector workforce
Building future‑ready financial talent through collaboration to equip the next generation with essential skills, credentials, and career opportunities.
The IBF partnership with CFA Institute further enhances the value of the CFA Program for financial practitioners in Singapore. It reinforces our commitment to uplifting and supporting the career development of professionals across our financial services sector.
A landmark partnership
Level I exam of the CFA® Program has been successfully accredited by IBF. It is the first time this certification has received recognition under a national industry skills framework, with funding support for both individual and corporate-sponsored candidates, meaning the skills attained by the candidates from the CFA Program Level I Program are aligned to the national skills framework and eligible employers and individuals will also benefit financially from the course fees funding that is provided. The accreditation is a clear recognition of the importance of the CFA Program to Singapore’s talent development agenda and its accessibility for the next generation of professionals.
Paul Moody, Managing Director, Global Partnerships and Client Solutions, CFA Institute notes that the CFA Program emphasizes global best practices, rigorous analytical training, practical skills, and the highest ethical standards. With more than 200,000 charterholders worldwide and growing candidate numbers in Singapore, the CFA Program equips professionals with the skills required to meet the demands of a fast-evolving financial industry.
He remarks:
"This partnership will have a positive impact on aspiring CFA Program candidates, and we look forward to working closely with IBF to support Singapore’s continued leadership as a global hub for financial excellence."
Crucially, ethics is a core element of the CFA Program, so employers benefit from hiring candidates who can smoothly harmonize with organizational values, such as integrity, accountability, customer centricity and transparency.
Framework alignment underscores relevance and quality
Carolyn Neo, Chief Executive Officer, IBF, explains that attaining IBF accreditation affirms that the program is aligned with the Skills Framework for Financial Services and addresses the core skills that are critical for the job functions in the financial sector. This, in turn, provides confidence in the quality and industry relevance of the CFA Program.
Developed by IBF, the Monetary Authority of Singapore, SkillsFuture Singapore, and Workforce Singapore, the Skills Framework for Financial Services is designed to produce a better-qualified workforce across the investment management industry. It helps individuals and employers plan their career and training pathways by identifying critical work functions, technical competencies, transferable core skills as well as emerging skills required for the financial sector.
She remarks:
"Financial institutions can leverage the Skills Framework for Financial Services to chart the competencies required for various job roles and to develop career progression for their workforce. By aligning training programs, such as Level I of the CFA Program, with the Skills Framework for Financial Services, we provide a benchmark to standardize skills recognition across our financial sector, boosting professionals’ employability and career mobility."
Successful completion of the CFA Program Level I exam also means individuals are eligible for IBF Certification, an industry-recognised mark of skills mastery. This further enhances the value of the CFA Program for financial sector professionals in Singapore.
IBF's accreditation of the the CFA Program Level I raises the overall competency of the workforce through IBF Certification, builds a stronger, future-ready talent pipeline, and enhances professional standards in Singapore.
A smoother path to accreditation with funding support
IBF remains committed to boosting the skills and careers of Singapore's financial sector workforce by supporting programs that strengthen its talent pipeline and professional standards, says Hee Siew Lie, Director and Group Head (Skills Development), IBF.
The IBF Standard Training Scheme provides funding support of up to 70% of the CFA Program Level I exam registration fee for Singapore citizens aged 40 years old and above, and 50% of the registration fee for Singapore citizens under 40 years old, as well as all permanent residents. This funding is available to both self-sponsored individuals and eligible financial institutions that sponsor their staff for IBF-accredited training.
She remarks:
"This co-funding model helps early- and mid-career professionals transitioning into the financial sector study for the CFA Program by reducing financial barriers to entry. By making professional accreditation more accessible, we encourage skills upgrading, support career entry or progression, and promote continuous professional development."
IBF notes that this milestone collaboration underscores the CFA Program as an essential credential for developing financial talent aligned with Singapore’s continued focus on strengthening its position as a world-class financial hub.
CFA Society Singapore: Bringing accreditation to life locally
To ensure the IBF accreditation translates into meaningful, on-the-ground benefits for both individuals and employers, CFA Society Singapore plays a critical role as the local implementation partner. The support they provide through funding administration and candidate engagement, help to operationalize the collaboration and make recognized skills development more accessible across the financial community.
This milestone reflects Singapore’s recognition of the CFA Program as an essential credential for developing financial talent aligned with the country’s vision of retaining its position as a world-class financial hub.
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