We know risk is a hot topic nowadays, but risk in financial services is the hottest topic of all!
The Romanian Banking Institute – RBI’s mission is to raise the level of knowledge and experience of all finance professionals in Romania and thus we are contributing to building a culture of risk awareness and management that is vital to ensure financial success in all areas.
Starting 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 to prepare for the RiFS qualification.
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 one of the most reputable and successful accredited 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 2 – 3 months)
- Induction course – a teaching phase consisting in 4 half days of online 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 in 2 half days of online training 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 an internal audit. In addition, professionals working in risks management functions of corporations may also derive benefits from holding the RiFS Qualification.
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 331, payable to CISI UK.
A one-off initial registration fee of GBP 35 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.
Alice Assaf is Head of Operational Risk Management at Blom Bank Lebanon. She has over 15 years of experience in bank Risk Management. From her position of Head of Operational Risk, she has worked on supervising, spreading and unifying the operational risk culture throughout BLOM Bank group. She was also responsible for creating, developing and updating the business continuity plan for the bank and its local subsidiaries, in addition to providing assistance and guidance to other entities of the Group.
Alice has been a lecturer for the Risk in Financial Services program since 2018. She holds a Master’s Degree in Finance, from ESA Business School.
LAUNCHING THE RISK IN FINANCIAL SERVICES PROGRAM – 5th series: TBA 2022
Introduction Course: Jan 31 – Feb 3, 2022 (Monday to Thursday), from 3h to 7h pm
Revision Course: March 28-29, 2022, from 3h to 7h pm
2 months of enhanced distance learning tutor support, also including 4 days of classroom instruction – Induction course and 2 days – Revision Course.
RBI will hold the course online, via the ZOOM platform.
registration form, CV in English, copy of the identity card and the legalized English translation of the Bachelor’s degree.
For further information and enrollment, please contact:
Emilia Frunză, Training Manager
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