international academy of retail banking prospectus

PROSPECTUS2013Retail Banking: The New Way

International Academyof Retail Banking

The International Academy of Retail Banking believes that retail banking should be a recognised profession like accountancy and law.

We are committed to:

• Making the Certified International Retail Banker qualification (CIRB) the recognised standard for professional retail bankers worldwide

• Thought leadership and research• Having a global reach and the infrastructure to support it• Being the voice of the profession• Working in alliance with the retail banking industry• Working closely with our members and students through

fraternity and alumni networks, including an annual conference


IARB Prospectus / 1 IARB Prospectus / 2

Retail bankers are trusted professionals, like accountants and lawyers, like doctors and dentistsThey are professionally educated, have passed challenging examinations and keep up-to-date through continuing professional education programmes

Retail bankers are dedicated to doing what is best for clientsWhere bank staff are well-educated and rewarded for the quality of service they provide over time

Where retail bankers abide by a strict code of ethicsStaff do not ‘push’ products and are not rewarded monthly for achieving sales targets

Imagine a world where...This customer-oriented professional approach to retail banking is what the International Academy of Retail Banking believes in.

It is not a distant dream for a sector that has yet to develop - retail banking is already the main source of bank profits worldwide, as The Economist explained in its recent ‘Retail Renaissance’ survey.

In a nutshell, retail banking is the future – and the Academy is dedicated to making it an admired and respected profession of international repute.

© The Economist Newspaper Limited, London (May 2012)



The International Academy of Retail Banking was founded in London in 2011 to educate retail bankers around the world to a high professional standard. It is the only educational and professional academy exclusively dedicated to retail banking anywhere in the world.

The IARB will develop retail bankers who can rebuild this trust and form profitable, long-term relationships with their customers. Banking has been through a tumultous time over the last decade, because of sharp practices and shady dealing. The

IARB will teach retail bankers not just the skills, but the values behind ethical and profitable banking.

We expect our members to subscribe to the following core values, which are also our teaching values:

• Fairness• Transparency• Respect for customers and

colleagues• Innovation• Creativity• Open-mindedness• Drive and passion

In the 1980s, Lafferty Group had the pleasure of working with the late Dr Stefan W. Kaminsky, the founder of KKB Bank in Düsseldorf – the world’s first for-profit consumer-only bank. Together, they published the management report Beyond Retail Banking, possibly the most important treatise on retail banking ever to be written.

This report – now updated under the title Real Banks for Real People - A Roadmap to Managing a Retail-Only Bank – is an important source for the basic concepts taught in the IARB.

Consumer banking considers the customer relationship as its only real asset. All other traditional assets or balance sheet items are nothing but manifestations of this relationship

“Dr Stefan Kaminsky

WHAT IS THE IARB?

The International Academy of Retail Banking (IARB) has been founded with the objective of playing a leading role in the development and professionalisation of consumer-orientated retail banking across the world.



101 Ethics Trust is a basic tenet of the relationship between the banker and the customer. We will discuss how this can be reaffirmed by examining various theories of business ethics.

102 Retail Banking Overview The basics of retail banking and how it differs from other types of banking; fundamental retail-banking strategies.

103 Products An introduction to retail banking products and a discussion of their respective customer attributes and sources of bank risk.

104 Channels The different channels that are used in retail banking. Branches, remote banking, online banking, etc.

105 Marketing An introduction to bank marketing; the 4P model; approaches to segmentation.

106 Effective Sales Management IIndividual sales techniques; self-management (processes and strategies).

107 Customer Service QualityThe fundamentals of customer service quality in terms of professionalism and ethics.

108 Operations ISet-ups, processes, quality and cost control, IT platform basics. Methods to reduce cycle time.

109 Credit Loss ManagementIntroduction to risk and uncertainty; the uniqueness of retail banking and the law of large numbers;

110 Relationship ManagementAn exploration of the importance in retail banking of the bank/ customer relationship and how the bank should approach this relationship with a long-term perspective.

Retail Banking I modules

Retail Banking I

Retail Banking I is designed to introduce the theoretical and practical core competencies that are required for success in a retail banking organisation. After completing Retail Banking I, you can then move on to Retail Banking II.



Retail Banking II

Retail Banking II focuses on the issues that are encountered when leading people and departments. Following the completion of this module, you can move on to Retail Banking III

201 Brand Management Brand value marketing.

202 Effective Sales Management II Managing sales forces effectively.

203 Product Portfolio Management Analysis of the processes involved in product development and strategic streamlining of product portfolio.

204 People Management Human capital management; models of motivation; employee engagement.

205 Customer Care Delivering on a customer-centric view.

206 Performance Management Integration, layering and alignment issues in people and team performance (eg, branch performance).

207 Operations II Managing bank processes to deliver lean and consistent outcomes.

208 Asset and Liability Management Exploring the strategy of the retail bank as a standalone strategic business.

209 Risk Management Advanced credit risk; other types of risk (liquidity, reputational, operational, market). Forecasting models of customer default.

210 Financial ManagementFinancial analysis around key banking metrics.

Retail Banking II modules


IARB Prospectus / 9 IARB Prospectus /10

Retail Banking III

Retail Banking III focuses on the issues that are encountered when you are leading people and departments. The aim is to develop and enhance the capabilities required to run retail banking strategic business units (SBU) for best results.

301 Leadership in Retail BankingRequired retail banking leadership skills in a constrained landscape.

302 Business Strategies for Retail BankingDeveloping and executing retail banking strategies.

303 Achieving Profitable GrowthExploring strategies for opening new markets, both domestically and internationally.

304 Governance and EthicsComplex governance structure of retail banks; silo structure and ethics.

305 Operational Leadership in Retail BankingManaging banking operations for customer service quality.

306 Risk and Capital ManagementAdvanced management bank risks for optimal profitability. Balance sheet management in a regulatory framework.

Retail Banking III modules



The International Academy of Retail Banking is committed to making the Certified International Retail Banker (CIRB) qualification the recognised standard for professional retail bankers worldwide.

Academy certification will send a powerful message to your customers, colleagues and the regulators that you are committed to maintaining the highest standards of professionalism in your work. It will also provide you with an unmatched international network of fellow professionals and

an unparalleled research resource that you can access at any time.Academy certification – and the right to describe yourself as a Certified International Retail Banker and use the CIRB designation – is achieved on successful completion of three separate programmes, each one culminating in an exam:

Retail Banking IRetail Banking IIRetail Banking III

We recommend at least three years’ experience in retail banking (or equivalent) before starting the programme. Upon successful

registration to the programme, students are bound by the Academy’s ethical code. This is not just a course, it is a career-long commitment to recognising the importance of retail banking and developing the skills necessary to have a fruitful career in the industry. This registration is not a mere trinket or certificate to put on a dusty mantelpiece; it is an entirely new way of doing business. Banking is changing rapidly, with new innovations coming along every day, and this is the best way of ensuring you and your staff are leading the way.

BECOMING A CERTIFIED INTERNATIONAL RETAIL BANKER?

Retail Banking III

Retail Banking II

Retail Banking I Exam

Exam

Exam

C . I. R . B

CERTIF

IED

INTE

RNATIONAL RETAIL BAN

KER



IARB modules will be available to study online in March 2013.

Online study resources include:

• All coursework materials• Video lectures and podcasts• Interactive presentations• Scorable self-assessment of

module content• Live, synchronous exam

preparation sessions• Sample exam papers

E-learning ensures participants can build their study timetable around their existing work, and allows them to progress at their own pace. We

have designed the entire process with retail bankers in mind so as you can fit it in around your busy schedules. To participate in the Academy via e-learning, you will be required to study the content in your coursework manual while listening to and interacting with the presentations and activities for each of the tasks as outlined.

There will be an online forum for discussing some of the topics covered in the modules, and you will have access to IARB staff via email who can help you with any topic you have further queries on.

Our e-learning is not just learning by video, it is a fully interactive educational system. We are here to assist you at all times. We want to give retail bankers the tools to educate themselves at a pace you are comfortable with. After completing all of the tasks, you can check your understanding of the content by completing the ‘knowledge check’. Once you feel ready, you can then register for the exam. It is the perfect way to add to your knowledge in your own time, at your own pace, with the added comfort of knowing that we are here to guide you every step of the way.

E-LEARNING



The International Academy of Retail Banking incorporates classroom learning with pre- and post-course study.Before starting a programme, students will be expected to have studied the assigned pre-course material.

Between the end of the classroom sessions and the administration of each level’s examination, students will be expected to study the course material as well as complete sample examination papers before sitting their examination, which will examine all areas of the coursework and syllabus.

International Academy of Retail Banking courses are delivered in both national-focused and international open programmes as well as within individual banks. The core content is the same regardless of whether courses are delivered in different languages or different countries. Having said this, IARB programmes are always adapted and customised to local markets.

In-house programmes

In-house training and exams are available and courses can be taught in the local language or a

translator will be available. Courses will be taught in English wherever possible. In these situations, formal demonstration of English proficiency is not a requirement of the IARB. This means that students have the responsibility to determine if their language skills are at a level that would allow them to fully benefit from the Academy.

In-house programmes can be tailored to your unique requirements, depending on the size of your organisation and the number of students you wish to put through the Academy.

IN-HOUSE AND CLASSROOM LEARNING



Michael Lafferty founded Lafferty Group in 1981 when he left the Financial Times, where he had been responsible for coverage of the banking industry. A chartered accountant and fellow of the Institute of Chartered Accountants in England and Wales, he had previously worked on the paper’s LEX team, the City Desk and been accountancy correspondent. Lafferty Group has come to occupy a preeminent position in the international financial services industry, providing the industry with education, research and intelligence, and councils. Michael is co-chairman of the International Academy of Retail Banking.

Dick Harryvan is a former member of the executive board of Amsterdam-based ING Group. Dick started his career as a management trainee at Nationale-Nederlanden in 1979. From 1980-1989, he held various management positions in ING’s US and Canadian insurance businesses. In 1989, Dick moved back to the Netherlands and was appointed a manager of the International Division of Nationale-Nederlanden. In 1993, he was appointed general manager of Bancassurance at the International Division of Amsterdam based ING Bank. From 1995-2006, Dick served as general manager of ING Direct where he was chief financial officer/chief risk officer of ING Direct globally. Dick was then appointed to the ING Group executive board and became CEO of ING Direct. He maintains two board positions at ING Direct in Canada and Germany. Dick holds a degree in business economics from Erasmus University Rotterdam, majoring in finance. Dick is co-chairman of the International Academy of Retail Banking.

Dr. Abdul H. Rahman is a professor of economics and finance and Telfer teaching Fellow at the Telfer School of Management, University of Ottawa. He was previously associate dean at the John Molson School of Business, Concordia University in Montreal. He has been published in several academic journals including the Journal of Banking and Finance, Journal of Asset Management, Journal of International Financial Markets, Institutions and Money, Journal of Financial and Quantitative Analysis. He has consulted for global financial institutions in retail banking, commercial banking, asset management, private banking and life insurance. Abdul is the academic director of the International Academy of Retail Banking.

Evelyn Hunter-Jordan is a key member of the management team at Lafferty Group. A former ballet entrepreneur and classical ballet dancer, she joined Lafferty Group in 2007. From an initial role as assistant to the chairman, she became Lafferty Group general manager in 2008 and has played a major role in the development of the International Academy of Retail Banking. Evelyn holds a Diploma in Ballet from the University of Cape Town, South Africa, and is a registered teacher of the Royal Academy of Dance. Evelyn is the executive director of the International Academy of Retail Banking.

Professor Lord Meghnad Desai is emeritus professor of economics at the London School of Economics, which he joined in 1965 and where he established the Centre for the Study of Global Governance in 1992. His research interests include economics, international political economy, economic history, South-Asian studies and globalisation. He gained his Economics BA and MA at Bombay [Mumbai] University and carried out his doctorate at the University of Pennsylvania. Among his honours are Bharat Gaurav (Indian Merchants Chamber 2002), Pravasi Bharatiya Puraskar (Government of India and Federation of Indian Chambers of Commerce and Industry 2004). He has authored or edited 20 books and written 200 articles for academic journals and books. He contributes to newspapers in the UK and India. Recent books include Marx’s Revenge: The Resurgence of Capitalism and Death of Statist Socialism; Nehru’s Hero: Dilip Kumar in the Life of India and The Rediscovery of India.

Anna Omarini is a researcher and adjunct professor in financial markets and institutions and in private banking at Bocconi University, Milan. She is also a senior professor at SDA Bocconi School of Management, where she teaches marketing management for financial services and retail banking. Her main research areas are: retail banking, bank marketing and cards loyalty management. Anna is the author of several articles and books on the related field issues and she has been speaker and chairman in many national and international conferences. Anna was previously president of Si Servizi, a payment servicing company belonging to Gruppo CartaSì.

Professor Steve Worthington is professor of marketing at Monash University’s faculty of business and economics. He specialises in the issues surrounding the distribution of financial services, particularly via plastic cards and in the organisation and control of the payment systems through which these cards are used. Steve has published widely, both in academic journals such as Journal of Marketing Management, Journal of Retailing and Consumer Services and the International Journal of Bank Marketing, as well as more practitioner-focused publications such as the Financial Times, European Card Review, and Cards International. He has also written a number of case studies concerning both bank and retailer provision of financial services. A frequent presenter/chairman at industry conferences, Steve has also been used by the media as an independent commentator on the delivery of financial services by plastic cards.

Xiang Songzuo is chief economist at the Agricultural Bank of China having joined in March 2012. He is also deputy director and senior Fellow at the Centre for International Monetary Research, Renmin University of China. He is professor of economics at the Huazhong University of Science and Technology, editor-in-chief, Global Finance & Business, and chief economist at the Institute of Global Finance & Business. Songzuo’s career includes spells as chairman and chief executive of Hurray! Solutions and as executive deputy chief of fund planning department at People’s Bank of China Shenzhen special economic zone branch. He achieved a Master of international affairs in economic policy management at the School of International and Public Affairs, Columbia University, New York and was visiting scholar at Judge Institute of Management Studies, Cambridge University. He has published numerous academic papers and dissertations and is editor and Chinese translator of Selected Economics of Robert A. Mundell. He is also the editor of two book series at Renmin University Publishing House.

Board of Directors Academic Standards BoardInternational Academyof Retail Banking

IARB Prospectus /19 IARB Prospectus /20

TESTIMONIALS

“I am really enthusiastic about this new initiative regarding retail banking certification”Training Manager, Banca Comercială, Romania

“This launch is long overdue and I am so happy to be part of this”Proposition Manager, Youth & Mass Market Proposition, Diamond Bank, Nigeria

“Very excited to hear about the academies”Vice President, Global Decision Management, Citibank, India

“A great initiative! It is essential to have a professional certificate in retail banking”Head of Competitive Intelligence, Itaú Unibanco, Brazil

What people are saying about the International Academy of Retail Banking

The programme was life-changing for meHead of Priority Banking Business, Skye Bank, Nigeria

“Overall the Academy beats other similar programmes by a long way and I am sure more of my colleagues will be attending this programme in the near future. My feedback is overwhelmingly positive and I think a couple of things stood out for me: The international exposure and that the focus on [the] client is an absolute must. I want to extend my gratitude for a fantastic programme”Head of Product and Support, First National Bank, South Africa

“ “The Academy programme provided me with access to the latest financial services best practices, with an emphasis on retail banking leadership. All the Retail Banking III modules were highly relevant to me in my current position as the consumer banking head in the bank”Head of Retail Banking, Maybank, Kuala Lumpur

“Clearly this was more than just an academic or ordinary training programme, but rather more practical and focused on the issues we face as a retail bank”Executive Manager - Consumer Banking, Gulf Bank, Kuwait

Congratulations on this initiative. It is badly needed in our industryExecutive Director of Acquiring and Strategic Initiatives, Russian Standard Bank, Russia

“


IARB Prospectus / 21

The Academy is international and has clients in:Brazil, Croatia, Egypt, Germany, Ghana, Indonesia, Italy, Kenya, Kuwait, Malaysia,

Netherlands, Nigeria, Norway, Poland, Portugal, Romania, Russia, Singapore,

South Africa, Sweden, Turkey, UAE, UK and Vietnam.

Absa Bank Abu Dhabi Commercial Bank Abu Dhabi Islamic Bank Access Bank Agricultural Development Bank AmBank Banc ABC Bank Audi Bank Mandiri Bank OCBC NISP Bankserv Africa CIMB Bank Citibank Diamond Bank Discover Financial Services Ecobank

Fidelity Bank First Bank of Nigeria First National Bank Garanti Payment Systems Global Pay Guaranty Trust Bank Gulf Bank JCB International (Europe) Keystone Bank Lloyds TSB Maybank Millennium bcp Nedbank Privredna Banka Zagreb RCS RHB Bank

Royal Bank of Scotland SIBS Forward Payment Solutions Skye Bank South African Post Bank South Africa Post Office Stanbic Bank Standard Bank of South Africa Techcombank UK Post Office Unified Payment Services United Overseas Bank (Malaysia) ValuCard Woolworths Financial Services Yandex Money Zenith Bank

REGISTER TODAYSo now that you’ve decided to join the International Academy of Retail Banking, just fill out the adjoining registration form to start your journey to become a Certified International Retail Banker.

IARB Prospectus /22


Limitations: It is recommended that e-learning courses be taken in order. You cannot receive the Certified International Retail Banker designation until all three courses (Retail Banking I, Retail Banking II, Retail Banking III) and their respective examinations have been passed.

Registration Fees: Registration fees include online access to course materials and exams.

Payment: Payment must be received prior to the start of the course. IARB retains the right to withhold course enrolment, distribution of course materials and certification until an invoice is paid.

Cancellation: All fees are non-refundable.

Data Protection: The information you have provided will be safeguarded by the International Academy of Retail Banking who may also use your data to keep you informed of relevant products and services. If you object to being contacted, please tick the appropriate box: telephone , postal mail , email .

We may wish to make your details available to other reputable organisations. Please tick this box if you would prefer your details to remain confidential .

TERMS & CONDITIONSE-Learning Registration FormPlease complete your details belowFull Name:

Job title: Company:

Address:

City: Postcode:

Country:

Email: Telephone:

Signature: Date:

By signing you agree to be bound to the terms and conditions of booking shown below

PAYMENT DETAILSCredit / Debit Card American Express MasterCard Visa Other ________________________

Card number cccc cccc cccc cccc CVC / Security number: cccc Expiry date: / Cardholder’s name: ______________________________________________________________Signature: ____________________________________________ Date: / /

Please invoice me (please include your company VAT number if your organistation is EU-based)

VAT Number: __________________________________________________________________ Account name: Lafferty Academy Ltd Account Type: USD Current A/C

Account number: 71599004 IBAN: IE49 BOFI 9013 9471 5990 04

* Online access to each course book is included in the standard fee. If you wish to receive a hardcopy of the course book, the fee is an additional US$100

REGISTRATION FEE

Fee (US$)Add a hardcopy of the course book*

(US$)Total (US$)

RETAIL BANKING I 650 100

RETAIL BANKING II 850 100

RETAIL BANKING III 1,150 100

TOTAL (USD)

Fees are on a per person basis. All e-learning courses are subject to a classroom-based examination. The exam is included in the course fee (for exam dates and locations, please see www.iarb.org).

Bank Transfer

Please scan and return to [email protected] or fax to +44 (0)20 3008 8426.

*

The International Academy of Retail Banking operates worldwide in partnership with:


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