Mandatory CPD

The Scope of our CPD programme

The CPD programme is designed to ensure that members  build their capabilities in line with the current standards, trends and best practices in the industry. It maintains and enhances the knowledge and skills of members to deliver professional services to customers and the general public.It provides a framework for professional and personal development of members and allows them to plan for their current and future career needs.The CPD programme for the Chartered Institute of Bankers, Ghana are twofold; structured programmes which are mandatory and unstructured programmes which are not. As far as the Institute’s online CPD programme is concerned, only the Mandatory CPD programme will be organized.

A Structured CPDcourse is any form of formal learning activity that is designed to achieve specific learning outcomes and is capable of being objectively verified by a competent source. These include participation in conferences, seminars and professional courses, achieving a specialist or degree qualification, undertaking structured online learning and writing of technical articles, papers or books for publication. The examples of evidence that could be used for verification purposes include confirmation of participation by a provider, instructor or employer, assessment of learning outcomes achieved, examination results transcript and publication of a professional article.

 An Unstructured CPD course is any informal learning activity such as on-the-job training, online research, self-study, a casual reading of professional journals and participation in events where the focus is on knowledge sharing. Such learning activities may be measurable in terms of hours, but may not be verifiable. These activities also contribute to the development and maintenance of professional competence, but would not be considered to form part of the prescribed quantum of structured CPD.

The scope of our CPD programmes is not limited to a particular topic in banking and finance,but encompasses broader regulatory, compliance and operational issues that affect banks. It can be expanded as the Institute deems it necessary in line with emerging issues and industry best practices.Fundamentally, members are expected to hone their skills and competencies in the underlisted Mandatory CPD programmes for 2018 that will be organized by the Institute:

  1. Corporate governance, ethics and professionalism
  2. Risk management and compliance
  3. Trade finance
  4. Banking operations
  5. Mobile banking
  6. Information security and business continuity management
  7. Credit risk management
  8. A  critical Review and Analysis of the National Budget

 

CPD Objectives

The Chartered Institute of Bankers, Ghana’s CPD objectives include the following:

  • Provide the context for members to understand industry issues, trends and best practices.
  • Foster a commitment to lifelong learning among members, maintain and develop their knowledge and skills throughout their careers.
  • Help members to remain professionally competent as well as provide high quality services to customers, employers and other stakeholders.

Operating Guidelines

The following credit hours will apply to structured and unstructured CPD programmes:

Structured Learning Activities

Participation in conferences, seminars, courses, workshops and other professional education activities organized by ACIB or other professional bodies or organizations

1CPD Hour for each hour of active participation, up to a maximum of 5 CPD hours per year.

Attending in-house courses presented by the employer or organizations engaged by the employer

1 CPD hour for each hour of active participationup to a maximum of 5 CPD hours per year.

Undertaking online or face-to-face courses conducted by tertiary education institutions, leading to a degree or post graduate or doctoral qualification

1 CPD hour for each hour of study time, up to a maximum of 20 CPD hours per year.

Participation and completion of a Chartered Banker module or other specialist programme module

1 CPD hour for each hour of participation, up to a maximum of 5 CPD hours per year.

ACIB or other third party providers, where there is assessment of learning outcomes achieved by means of examination or otherwise

1 CPD hour for each hour of participation, up to a maximum of 5 CPD hours per year.

Preparation and delivery of courses under the auspices of ACIB, other professional bodies or educational institutions related to banking as lecturers or examiners

1 hour of presentation earns 5 CPD hours for the first delivery.

Presentation of a paper or address in conferences, seminars or workshops

Address at conferences, seminars or workshops 1 hour of presentation earns 5 CPD hours. No CPD hour is earned for repeat presentations which are substantiallysimilar in content.

Writing of articles, papers or books on banking and related subjects for publication

1 CPD  hour for each hour of participation, up to a maximum of  5 CPD hours per year

Undertaking research or study projects on banking and related topics that result in presentations, reports or similar documentation

1 CPD hour for each hour of research up to a maximum of 5 CPD hours per year

 

Unstructured Learning Activities

On-the-job training provided by the employer that relates to the development or advancement of professional competencies

1CPD hour for each hour of training  up to a maximum of 5 CPD hours in a year

Participation in discussions with internal experts on technical subject in banking/Service to the Community/International/National Appointment

1 CPD hour for each hour of participation up to a maximum of 5 CPD hours per year

Receiving coaching and mentoring to improve personal or technical skills

1CPD hour of coaching or mentoring up to a maximum of 5 CPD hours per year

Reading books, journals, magazines and other publications on banking and related subjects

1CPD hour  for each hour of reading up to a maximum of 5 CPD hours per year

Self-study through  electronic media such as watching videos, webcasts or podcasts that do not involve formal assessment or certification of completion

 

1 CPD hour for each hour of self-study up to a maximum of 5 CPD hours per year

Facilitating a discussion session in conferences or seminars

1 CPD hour for each hour of facilitation with a  maximum of 5 CPD hours per year

Providing professional development support as a mentor or coach

1 CPD hour for each hour of coaching or mentoring provided up to a maximum of 5 CPD hours per year

Service on the committees or sub-committees of ACIB or by other professional bodies or organizations that contribute to the advancement of banking knowledge and practice

1CPD hour for each hour of participation up to  a maximum of 5 hours per year

Implementation of the CPD Programme

The implementation of this CPD programme will be done in January every year. The Chief Executive Officer in consultation with the Education Committee will oversee the implementation of the CPD programme.

CPD Submission Timelines and Sanctions

  1. A member submits CPD Records by the end of the first quarter each year
  2. The Institute evaluates and responds to members by 1st May XX
  3. A  caution letter is issued to a member who fails to submit by 1st May XXdeadline.
  4. A member who fails to submit by 31st December XX, will be fined XX penalty units. If a member fails to pay the fines, he will be referred to the Disciplinary Committee
  5. A member who receives a cumulative of five fines at any point in time during his/her membership will be referred to the Disciplinary Committee for appropriate sanctions

 

CPD Monitoring

1. A sample of Members subject to mandatory CPD will be randomly selected each year for review. Members selected for review will need to demonstrate their compliance with the CPD requirements and will be asked to provide evidence of learning activities or verification of the competencies they have developed through their chosen CPD activities.

2. Members who have not complied with the CPD requirements will be given a caution letter and additional time may be given to comply with the requirements.

3. Where a Member fails to complete the CPD requirements within the extended time allowed, the matter will be referred to the Education’s Committee, which shall determine the course of action to be taken. The Education’s Committee may refer cases where wilful and persistent non-compliance is suspected to the Chief Executive Officer or the President which may lead to disciplinary action.

The Chartered Institute of Bankers, Ghana will evaluate and verify all unstructured activities undertaken by every member with a view to establishing the veracity or otherwise of the said activity. As a result,  members are hereby advised to submit their attendance notification slips of all the CPDs organised by the Institute. The Institute will also keep a “register” of attendance on each CPD.

Any member who attends any CPD programme not organised by the Institute, would be required to furnish the Secretariat with the following information:

  1. Topic
  2. Duration
  3. Resource Person
  4. The Organiser

 

Ms. Rosemary Offei

Acting Director of Studies 

Banking Terms

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Where there is a public duty to disclose, for example if the Bank is aware that the customer’s transactions are damaging to the national interest (such as trading with the enemy in time of war) or e.g. when the Bank knows of a fraud involving the customer being investigated.
  2. When the interest of the Bank requires disclosure, e.g. when filing a WRIT in court against the customer, especially for the recovery of unpaid loans or charges

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Under the Anti-Money Laundering and Terrorist Financing Law, the Bank is obliged to report even strong suspicious of unlawful activities on an account to the Financial Intelligence Centre.
  2. The Borrowers and Lenders Act also permit the Bank to disclose details of non-performing customers accounts to designated outfits prescribed by the Central Banks.
•E-Banking involves services offered by Banks to their private and business customers using computerized support to record, process and transport data automatically or without vouchers. 

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Where a law or court of competent jurisdiction requires disclosure for example; if a customer’s bank account is the subject of a dispute at the Court.
  2.  In Ghana, under the laws establishing the SFO (now EOCO), and the Narcotics Control Act, the Bank is obliged to disclose information about a customer’s account where warranted by these institutions.  The request must be in writing and addressed to the Bank.

 

SECONDARY MARKET

The trading of existing securities issued by companies and government organisations in order to raise long-term funds is termed secondary market activity.

These activities are carried out on a Stock Exchange.  Trading of existing securities on the Stock Exchange therefore, constitutes secondary market activities.  

•1 Enormous risk challenges e.g. breach of systems, PINS and ID instruments (cloning)
•2. Requirement for effective back-up systems and controls
•3. Fraudsters evolving new schemes to outwit controls in e-banking facilities
•4. Anonymity of some applications fostering the commission of crimes around the globe e.g. internet-based payments
•E-Banking involves services offered by Banks to their private and business customers using computerized support to record, process and transport data automatically or without vouchers.
 
 
 
 
 

 

PRIMARY MARKET

  • Deals in new securities and also involves conventional lending and borrowing activities (on a secured or unsecured basis)
  • Issues short-term securities bought or sold for immediate delivery
  • Exchange of funds for financial claim
  • Funds raised through Initial Purchase Orders (IPOs) and goes directly to the Company whose shares have been floated. 

 

DUTIES OF A CUSTOMER

  1. To exercise reasonable care when drawing his cheques, to help prevent alteration, fraud and forgery so that the bank will not be misled-London Joint Stock Bank Vrs. Mac-Millan and Arthur (1918).
  2. To go to his bankers when he requires payment. It is not incumbent on the Bank to seek out the customer.

 

•The risks and challenges associated with I.T. are also applicable to E-Banking.  The peculiar risks of e-banking are accentuated by the internet where customers and fraudsters can operate the systems from any part of the globe-outside the reach of the financial institution and remain largely anonymous.
•To be continued
 

BANK’S DUTY OF SECRECY

  • The Bank’s duty of secrecy and confidentiality is central to the maintenance of confidence in the financial system.  According to the Banking Act 2004 there are a number of situations under which the Bank’s duty of secrecy is suspended.
  • The following are exceptions to the secrecy rule in Ghana.

 

CAPITAL MARKET

This is a market for relatively long term funding.  Active players in this domain are the Stock Exchange, the Pension Funds and the Mortgage Institutions.  The major characteristics of this market are;

  1. Long-Term Funding, usually over one year
  2. Debt and Equity are traded
  3. Focuses on Secondary Market
  4. Higher Returns
  5. Higher Risks

E-Banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the internet

 

 

•1. Cost reduction in banking services due to mass usage – cheaper and convenient
•2. Less reliance on physical branch networks for service delivery – released capital that would otherwise be tied up in brick and mortar
•3. Around the clock usage of systems – 24/7
•4. Worldwide application of some e-banking products and services
•5. Less use of cheques and paper-based instruments (environmental concerns eased).

FINANCIAL MARKETS

Financial Markets in Ghana are classified into two broad areas namely:

  1. The Capital Market
  2. The Money Market

The Money Market is essentially a market for short term funds, i.e. sale and purchase of securities with a maturity of less than one year; with the Commercial Banks, Central Bank and Discount Houses being the major players.

DUTIES OF A CUSTOMER

  1.  To pay reasonable interest and commission and other charges for banking services
  2. To inform the Bank of any known forgeries on the account – Greenwood Vrs. Martins Bank Ltd. (1933).
  3. To repay any overdraft on demand.

 

•The risks and challenges associated with I.T. are also applicable to E-Banking.  The peculiar risks of e-banking are accentuated by the internet where customers and fraudsters can operate the systems from any part of the globe-outside the reach of the financial institution and remain largely anonymous.
 

E-Banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the internet

 

 

 

•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.
•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.
•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.
•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Where the customer has given his express or implied consent for the disclosure for example by inviting a third party to apply to the Bank for a banker’s reference.
  2. Where the Bank of Ghana requires, disclosure for example when a particular bank customer is under investigation by the Bank of Ghana.  

 

Get in touch

  • East Legon on the Trinity College Road
  • 0302 541 309 / 0302 541 308
  • 0302 541 614
  • info@cibgh.org