By Amat Taap Manshor & Siong Choy Chong 2014 Asia Pacific Quality Network (APQN) Annual Conference & Annual General Meeting 7-8 March 2014 FTU, Hanoi, Vietnam
Finance Accreditation Agency
Finance Accreditation Agency - Vision & Mission Miss Mi ssion ion Visi Vi sion on The mission of FAA is to Global leader in assuring inspire & promote the quality learning in the highest quality in financial services industry continuing education & professional development for the FSI through its globally benchmarked accreditation framework, standards & practices
Mandates of FAA Provide assurance that the learning Assure that accredited programmes in the FSI met programmes are relevant & international best practices & required by the FSI benchmarks Provide formal Provide regional & recognition to the international knowledge & skills recognition of base of FSI members qualifications Quality assure the Provide education & training recognition of Provide a learning providers prior learning pathway for FSI members 5
FAA Roles & Functions 2 1 Establish quality Accredit learning programmes that fulfil the assurance & accreditation set criteria & principles framework & criteria 5 4 3 Register & maintain the Promote & implement Develop, maintain & approved & accredited recognition of prior administer the learning programmes & learning standards & Qualification Structure for qualifications in the FSI practice the FSI 6 7 Facilitate the 8 Seek accreditation & recognition & Seek global recognition of strategic alliances with articulation of learning and qualifications local & world-renowned learning accreditation agencies & programmes through relevant institutions mutual recognition initiatives 6
FAA Products & Services FAA Quality Framework (FQF) 1 FAA Programme Accreditation (FPA) Guidelines 2 FAA Qualification Structure (FQS) 3 FAA Institutional Accreditation (FIA) 4 FAA Individual Accreditation 5 (FDA) FAA Accreditation System 6 (FAST) 7 CPD / CPE Guidelines 7
FAA: Driving Quality Excellence FAA Quality Framework (FQF) A comprehensive quality assurance framework with a certification & accreditation system that aims at raising the quality of the workforce & training providers in the FSI. FAA Learning Standards FAA Recognition of FAA Learning Criteria Prior Learning (FRL) (FLC) (FLS) Credit gained through working & 11 components, content-driven Six dimensions, process-driven learning. quality assurance. quality assurance. FAA Qualification Structure (FQS) Harmonises and integrates qualifications in the FSI into a single framework. The integration of all professional qualifications in the FQS enables mutual recognition from other accrediting bodies locally & abroad. FQS enables equivalency of the different levels of professional qualifications to be mapped against the various frameworks & industry standards for the purpose of mobility of the FSI employees both career wise & for seeking higher academic qualifications. . 9
FAA Quality Framework (FQF) - The Nine Pillars 10
FAA Learning Criteria (FLC) - Quality Dimensions Derived from FQF which are based on principles of quality assurance, inclusiveness, creditability & transparency. Comprising six dimensions, FLC allows for validity, reliability, fairness and flexibility in the design, development & delivery of learning programmes in the FSI. 1. Learning Programme 2. Competency 3. Learning Programme Rationalisation Fulfillment Structure Development of learning Establishment of a need for a Systematic design & programme that has to be particular learning development of learning closely related to programme programme competencies 4. Learning Programme 6. Learning Programme 5. Learning Assessment Delivery Recognition Appropriateness of Acceptance of industry Assurance of learning & methodologies used through points, exemptions, knowledge transfer taking particularly in adult learning exchanges & affiliation, and place environment awards 11
FAA Learning Criteria (FLC): Indicators 3. Learning 1. Learning Programme 2. Competency Programme Structure Rationalisation Fulfillment 1. Title 1. Learning Level 1. Programme Rationale 2. Type 2. Job Level 2. Duration 3. Owner 3. Key Competencies 3. Frequency of the activity 4. Area 4. Job Family per year 5. Curriculum Committee 5. Entry Requirements 4. Min. & Max. no. of 6. Intellectual Ownership 6. Progression Plan participants 7. Award of Certificate 5. Learning Outcomes 6. Learning Programme Objectives 7. Learning Topics 8. Learning Methodologies 9. Learning Mode 10. Learner Assessment Methods 11. Time 12. Learning Evaluation 13. Facilitators ’ Information 12
FAA Learning Criteria (FLC): Indicators ( cont. ) 4. Learning Programme 5. Learner Assessment 6. Learning Programme Delivery Recogntion 1. Learner Programme 1. Learner Assessment 1. CPD/CPE Hours Delivery Report Results 2. Exemption(s) 2. Learning Evaluation 3. Educational Exchange & Outcome Affiliation Arrangements 4. Recognition by Industry 13
FAA Learning Standards (FLS) The objective of FLS is to 1. Learning 8. Assessment 9. Entry ensure consistency of levels methods requirements learning contents across FSI according to internationally benchmarked industry requirements. FLS provides 10. Specific 2. Learning 7. Modes of minimum standards for resources outcomes delivery learning programmes required across different sectors within FSI. 3. Learning 11. Description 6. Learning programme of trainers or hours objectives facilitators 4. Body of 5. Learning knowledge topics FAA VALUES 14
Areas of FAA Learning Standards Islamic Banking Conventional Conventional Capital Banking Market Technical Competencies Islamic Takaful Capital Market Insurance 15
FAA Recognition of Learning (FRL) A set of guidelines that enables individuals to gain recognition for knowledge, understanding, skills & competencies that they already possessed or have gained through formal, informal & non-formal interventions. The aims of this formal recognition are: To accredit learning of individuals against the learning outcomes as specified in the FQS; To enable individuals to plan their learning pathways through the realisation of their current learning achievements, leading to the identification of their future personal and professional learning needs; To enable employers to have a better understanding of the competencies of their employees in order to plan relevant training and learning programmes for a productive and capable workforce. FRL would also lead to time and money savings by avoiding duplication of learning; and To equate current knowledge and skills to a formal qualification in a variety of ways: i. Entry into a programme; ii. Credit transfer; and iii. Exemption. 16
FRL Guidelines Definition Objectives Benefits of Introduction & Context of FRL FRL of FRL Types of Types of Conduct of Evidence Stages in a Assessment a FRL FRL Process Methods Assessment FRL Maintaining Fees Templates & Records & Forms Portfolios 17
FAA Accreditation Accreditation is the Accreditation is a prevalent form of quality process to recognise assurance internationally that the individual & is an established & employee or learning recognised practice in programme provided by ensuring quality of a an accredited institution programme, institution or meets the criteria & individual. It speaks to a principles set by FAA & sense of public trust, as the industry. well as to processional quality. FAA 18
Accreditation Principles Industry Requirements 1
FAA Accreditation Governance Structure 20
FAA Technical Committee (FTC) To review & approve certification, professional & academic programmes offered by RTP to the FSI for FFA to To provide professional & ensure that the learning programme technical advice for mutual content is relevant in the context of recognition of learning international requirements of FSI & are programme content & of high quality in accordance to FAA 1 2 requirements. criteria & principles. FTC To act as ambassadors of FAA in promoting 5 3 accreditation initiatives in the FSI To promote the quality globally. assurance & accreditation initiatives of FAA globally. 4 To provide guidance & advice to FAA management on accreditation of learning programmes in meeting the needs of the FSI.
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