RISK IN FINANCIAL SERVICES – RiFS
Starting Fall 2014, RBI is the only training provider in Romania to offer courses leading to the Risk in Financial Services – RiFS qualification. For this project RBI partnered with École Supérieure des Affaires – ESA – accredited by the Chartered Institute for Securities and Investments (CISI), UK – to bring high quality training programs for RiFS.
CISI is the largest and most widely respected professional body for those who work in the securities and investment industry in the UK and in a growing number of financial centres globally and ESA represents the most reputable and successful training provider for the CISI qualifications.
The RiFS qualification is a comprehensive global introduction to the major risk areas in financial services, designed to ensure that those working in risk areas have a thorough understanding of their general domain. It provides a sound grounding in the principles of the risk management framework, corporate governance and risk oversight, covering specific techniques used in identifying, reducing and managing operational risk, credit risk, market risk, investment risk and liquidity risk.
Benefits of the RiFS Program
- Successful candidates will have an internationally recognized certification
- Ensures that those working in the field of risk management have the necessary set of competences
- Provides the successful candidates with skills required to make sound decisions and develops insight into professional responsibilities
- Helps raise overall standards in risk management across the financial sector
- Study plan for the entire duration of the program (approximately 5 – 6 months)
- Induction course – a teaching phase consisting in 2 full days of classroom training introducing the material and explaining the most important concepts in the syllabus
- Revision course – a review phase consisting in a refresher course, going over highlights from the first two day course. In addition, students will sit a mock exam to get them familiarized with exam techniques
- Tutor support and feedback via e-mail throughout the entire duration of the program
- CISI study guide and lecturer’s own materials
- CISI issued workbook (CISI original learning manual)
All of the above are included in the very competitive course fee.
- Covers all key risks in financial services – operational, credit, market, investment and liquidity business risk, corporate governance, regulation and risk management
- Globally portable – addresses international issues, reflecting the needs of a worldwide market
- Addresses techniques used to identify, reduce and manage specific aspects of risk
- Available by computer based testing (CBT)
- Free CISI student membership – become associated with a chartered professional body and take advantage of an extensive range of benefits
- ACSI designatory letters
The RiFS certification is aimed primarily at those persons working in all areas of risk management in banks and financial institutions, including, credit risk (portfolio and transactional level), market risk (including treasury and liquidity risk management, functions concerned with asset-liability management and middle office), operational risk, functions related to Basel implementation and ICAAP if separate from the normal risk management functions and can also be applied to those in closely related control functions such as back office and internal audit. Furthermore, those working in risk management functions of corporates rather than only banks and financial institutions may also derive benefit from it.
RiFS examination subjects covered
- Principles of Risk Management
- International Risk Regulation
- Operational Risk
- Credit Risk
- Market Risk
- Investment Risk
- Liquidity Risk
- Corporate governance and Risk Oversight
- Model Risk
- Enterprise Risk Management
The exam for RiFS consists of 100 Multiple Choice Question and lasts for 2 hours, with 70% minimum pass mark.
Each student for the RiFS is given a CISI authored study guide before taking the course. This Study Guide is divided into 10 chapters. Each chapter contains the concepts that will be tested in the exam. It is recommended that this study guide is read comprehensively by candidates and revised at least two to three times before taking the exam. The examination fee is GBP 295, payable to CISI UK.
A one-off initial registration fee of GBP 30 must also be paid to CISI UK.
The exam is computer-based, and it has to be booked/scheduled online on the CISI website. Exams are sat at the Prometric Center in Bucharest (1B Expozitiei Blvd).
Upon successfully passing this examination, candidates are awarded a Risk in Financial Services certificate from the Chartered Institute for Securities and Investment (CISI) in London.The exam is recommended to be taken 4 weeks after the review session.
Lama Makarem Ayache is the head of the Risk Integration unit at the Group Risk management department of Bank Audi, the largest banking group in Lebanon. During her 5-year tenure at Bank Audi, Mrs. Ayache has been focusing on formulating the Bank’s risk strategy and appetite, running the Bank’s internal capital adequacy assessment process (ICAAP) and designing and running stress scenarios, developing the Bank’s recovery and resolution plans, and overseeing the risk reporting processes across risk types. Previously, Mrs. Ayache was a consultant at the Boston Consulting Group in their Dubai office and before that she was a market risk analyst at BLOM Bank, Beirut.
Mrs. Ayache received her MBA from the London Business School and her BA in Economics from the American University of Beirut.
Launching the third series of the RiFS program:
February 2021 – Introduction Course
March 2021 – Revision Course
TBA February 2021
5 – 6 months of enhanced distance learning tutor support, also including 4 days of classroom instruction (April 2019 – Induction course and May 2019 – Revision Course).
Course registration is made by filling in the registration form. RBI will hold the course at its premises, providing specialized lecturers, study materials and catering.
CV in English, copy of the identity card and Bachelor’s Degree
For further information and enrollment, please contact:
Emilia Frunză, Training Manager