Professional Certificate and Professional Diploma in Investment Fund Services 2014/2015

The College of Professional Finance

The College of Professional Finance

Who we are

The College of Professional Finance Who we are

THE INSTITUTE OF BANKING

The Institute of Banking is the largest professional institute in Ireland. We are a community of 32,000 members who work in banking and in both international and local financial services in the Republic of Ireland and Northern Ireland.

Professional development of our members through education is at the heart of what we do. We are a not-for-profit organisation.

The Institute provides university level banking education programmes and related services. These enable our members to achieve and sustain their professional qualifications and continuing professional development – essential in meeting customer and regulatory expectations.

More than 10,000 of our members studied with us last year and we have over 20,000 CPD members.

Excellence in education – A recognised college of UCDAs a recognised college of University College Dublin (UCD) and the standout banking industry educator, we offer qualifications of the highest standard.

We currently have more than 30 programmes ranging from Professional Certificates (level 7) on the National Framework of Qualifications (NFQ) to Masters Degree (level 9). We design our programmes to be practical and relevant, but grounded in academic rigour.

We focus on providing innovative and flexible education options to ensure that we meet the changing needs of our members. All our programmes are part-time.

Contact us We are delighted to hear from current or prospective members, or from anyone interested in the work of our Institute.

Please contact us and we will help you in any way we can.

IRISH FUNDS INDUSTRY ASSOCIATION (IFIA)

The Irish Funds Industry Association (IFIA) is the representative body for the funds industry in Ireland, with custodians, administrators, managers, transfer agents, fund promoters and professional advisory firms involved in the international fund services industry in Ireland, amongst its members. The Irish funds industry services assets in excess of c2 trillion held in over 12,000 funds.

Through its work with governmental and industry committees and working groups, the IFIA contributes to and influences the development of Ireland’s regulatory and legislative framework. The IFIA is also involved in defining market practice through the development of policy and guidance papers and the promotion of education and industry-specific training. For further information please log onto www.irishfunds.ie.

SUMMIT FINUAS NETWORK

Summit Finuas Network is part of the Finuas Networks Programme. Summit Finuas Network programme is dedicated to specialised training within the international financial services sector. Managed by Skillnets Ltd. on behalf of the Department of Education and Skills, the Network aims to support the sector in maintaining Ireland’s position as a top international financial services centre through investment in the specialist skills and expertise of its workforce. The Network is led by a steering group which includes member companies and the leading financial services industry associations: Financial Services Ireland (FSI); Irish Funds Industry Association (IFIA); Federation of International Banks in Ireland (FIBI); Dublin International Management and Insurance Association (DIMA); and the Irish Association of Investment Managers (IAIM).

Network ActivitySummit Finuas Network was established in mid-2009. Since then we have delivered over 400 courses to over 5,200 participants from 250 companies operating in the international financial services sector in Ireland. Courses have ranged from specialist workshops in Solvency II and Basel III, Certified programmes in Financial Regulation and Complex Financial Instruments up to Masters Level i.e. MSc in Risk Management and MSc in Sustainable Energy Finance (developed in conjunction with the Green IFSC initiative).

Why get involved- Avail of a comprehensive

range of specialist courses designed for the international financial services sector

- Opportunity to significantly reduce training costs through the availability of grant funding

- Provides the opportunity to work with education and training providers to update and amend course content in line with market developments

- Ensure your employees acquire the latest skills to maintain your organisation’s competitiveness

- Opportunity to network and collaborate with other member companies.

How to get involved- Sign up for free at: www.

summitfinuasnetwork.com

- Telephone: Louise Ryan, Network Executive 01 605 1546

- Email: info@summitfinuasnetwork.com

- Tweet us: @summitfinuas

- LinkedIn: Summit Finuas Network

01The College of Professional Finance Introduction

Introduction

Dear Colleague,

I am delighted to introduce this brochure created specifically for the investment fund programmes and offered jointly with the Institute of Banking.

The brochure comprehensively describes the Professional Certificate and Professional Diploma in Investment Fund Services.

These industry education programmes have been a resounding success. Over 4,500 candidates have been awarded the Certificate, and the Diploma, a more recent programme, has also proved very successful with over 750 candidates awarded the qualification to date.

Each programme provides candidates with the detailed knowledge and skills required to realise their potential in the funds industry.

I wish you the best of luck with your studies, and look forward to hearing positive results in the coming months.

Pat LardnerChief Executive, IFIA

The College of Professional Finance02 Professional Certificate in Investment Fund Services

WHO IS THIS PROGRAMME FOR?

The Professional Certificate in Investment Fund Services is the benchmark qualification if you would like to build a career in the funds industry. This three-module level 7 qualification is designed for you if you are working in, or seeking to work in, the investment funds industry. The programme covers material which is directly relevant to your day-to-day role, while also providing a broader view of the industry as a whole. The programme introduces you to the fundamental areas of investment funds and illustrates how each area within the industry interacts together. It provides you with a detailed knowledge of the legal and regulatory environment in which the industry operates and also describes the role custody, registration and fund accounting play within the industry.

HOW YOU WILL BENEFIT

This programme will support your personal and professional development.

On successful completion of this programme, you will be able to:

– Explain the accounting and valuation aspects of investment funds and their application to investment funds, the preparation of the accounting statements of funds and the calculation of the Net Asset Value (NAV)

– Describe the role of the custodian in the investment funds industry

– Describe the principles, structure, legal requirements and investment strategies of the investment funds vehicles

– Illustrate how the regulatory bodies impact on fund listings and the differences in domiciling a fund in certain jurisdictions

– Outline the compliance and taxation requirements of the main non-Irish fund administration jurisdictions.

This programme is offered in partnership with the Irish Funds Industry Association (IFIA).

Professional Certificate in Investment Fund Services

The College of Professional Finance 03Curriculum

Module Overview

02

LEGAL AND REGULATORY ASPECTS OF INVESTMENT FUNDS (NFQ Level 7, 5 ECTS)

In this module, you will be introduced to the legal and regulatory framework within which the investment funds market operates in Ireland. This module will give insight into Irish and European legal systems and the constitutional documentation of the different types of fund structures. It will explain key legal concepts, describe the role and responsibilities of the main players and service providers, and explain the role played by the main government bodies in regulating and monitoring those parties.

01

FUND ACCOUNTING AND VALUATION (NFQ Level 7, 5 ECTS) This module will provide an introduction to the investment funds industry in Ireland, examining the key parties to a fund and the types of fund investments. It will explain the accounting and valuation aspects of investment funds, the preparation of the accounting statements and the calculation of the Net Asset Value (NAV).

03

CUSTODY AND REGISTRATION (NFQ Level 7, 5 ECTS)

This module explains the role of the custodian in the investment funds industry including cash management, dealing and settlements and will provide you with an understanding of the registration process and compliance requirements of investment funds. It will also define derivatives and explain the role of the custodian in derivatives.

Curriculum

The programme has three modules as follows:

01 Fund Accounting and Valuation02 Legal and Regulatory Aspects of Investment

Funds03 Custody and Registration

The College of Professional Finance04 Further Information

AWARD

When you successfully complete the three modules of this programme, you will be awarded the Professional Certificate in Investment Fund Services from UCD (at level 7).

ENTRY REQUIREMENTS

The second level educational requirements for employment in financial institutions are acceptable for entry to the Professional Certificate in Investment Fund Services.

PROFESSIONAL BODY MEMBERSHIP

You must be a current member of the Institute of Banking, or become a member, to register for this programme.

Membership is currently c40 per calendar year.

DELIVERY

Lectures are held on a part-time basis.

DURATION

Eight months.

FurtherInformation

The College of Professional Finance 05

ASSESSMENT

End of semester exams: Written, case-study and essay style questions.

The pass mark is 40% in all modules in line with UCD academic policy.

Duration: 180 minutes.

FEES

Summit Finuas Network member: c1,325

Non-member: c1,890

Funding is available for a strictly limited number of places and will be allocated on a first come, first served basis.

For more information see www.iob.ie/sfn.

SUBMISSION OF REGISTRATIONS

You can register in one of the following ways:- Complete your registration online at www.iob.ie/funds or

download the registration form and submit to the Institute: The Registrations Team

The Institute of Banking IFSC 1 North Wall Quay Dublin 1

- By calling the Registration Line on +353 (1) 611 6500.

SEMESTER START AND CLOSING DATES

January 2015 ExamsWe encourage you to register by 29 September 2014* as lectures commence in early October.

* Where places are available we will continue to accept applications until 7 November 2014.

May 2015 ExamsSemester Start Date26 January 2015*.

* Where places are available we will continue to accept applications until 6 March 2015.

PROGRAMME COMMENCEMENT

October 2014.

INTERESTED? NEXT STEPS

For further information on this programme visit www.iob.ie/funds or you can contact:

Edel HaydenProgramme Manager, The Institute of Banking

E: edel.hayden@iob.ieT: +353 (1) 611 6509

I would recommend this programme

to anyone starting a career in the investment funds industry. It will greatly help to accelerate your understanding

of the industry as a whole. It gives you useful information on areas of the industry that you may not know much about and therefore gives you a strong basis for a long-term career.”

Aidan Burke State Street

Further Information

The College of Professional Finance06

WHO IS THIS PROGRAMME FOR?

This two-module level 7 qualification is specifically designed for those who have successfully completed the Professional Certificate in Investment Fund Services and who wish to build on their knowledge. This professional diploma moves deeper into the area of alternative investments, legal, compliance and taxation areas of the investment funds industry. This programme provides you with a thorough exposure to the areas underpinning the investment funds industry. The industry continues to be subject to an ever expanding regulatory oversight that permeates the entire spectrum of investment fund activities.

HOW YOU WILL BENEFIT

This programme will support your personal and professional development.

On successful completion of this programme, you will be able to:

– Examine the investment strategies of alternative investment funds

– Analyse the legal contracts and regulations for alternative investment funds

– Examine the Central Bank of Ireland’s guidance notes including regulatory implications of MiFID, Fourth Anti-Money Laundering Directive and UCITS V

– Analyse the withholding taxation treatment for funds and foreign taxation implications for investment funds.

This programme is offered in partnership with the Irish Funds Industry Association (IFIA).

Professional Diploma in Investment Fund Services

Professional Diploma in Investment Fund Services

The College of Professional Finance 07

Module Overview

02

INVESTMENT FUND STRUCTURES (NFQ Level 7, 5 ECTS)

In this module, you will explore the key features and main structures of investment funds. You will also examine the attributes and investment strategies of alternative funds such as derivatives and performance fees. This module also describes the application of accounting standards to the preparation of investment fund financial statements.

01

REGULATION AND TAXATION OF INVESTMENT FUNDS (NFQ Level 7, 5 ECTS) This module describes the legal, regulatory and compliance environment in which investment funds operate and the associated taxation requirements within and outside Irish jurisdiction. It will also explain how funds are set-up, structured, documented and wound up and how business is transferred into/out of funds.

Curriculum

The programme has two modules as follows:

01 Regulation and Taxation of Investment Funds02 Investment Fund Structures

Curriculum

The College of Professional Finance08

FurtherInformation

Further Information

AWARD

When you successfully complete the two modules of this programme, you will be awarded the Professional Diploma in Investment Fund Services from UCD (at level 7).

ENTRY REQUIREMENTS

Registration to the Professional Diploma in Investment Fund Services is limited to holders of the Professional Certificate in Investment Fund Services.

PROFESSIONAL BODY MEMBERSHIP

You must be a current member of the Institute of Banking, or become a member, to register for this programme.

Membership is currently c40 per calendar year.

DELIVERY

Lectures are held on a part-time basis.

DURATION

Eight months.

The College of Professional Finance 09

ASSESSMENT

End of semester examinations: Written, case-study and essay style questions.

The pass mark is 40% in all modules in line with UCD academic policy.

Duration: 180 minutes.

FEES

Summit Finuas Network member: c1,050

Non-member: c1,500

Funding is available for a strictly limited number of places and will be allocated on a first come, first served basis.

For more information see www.iob.ie/sfn

SUBMISSION OF REGISTRATIONS

You can register in one of the following ways:- Complete your registration online at www.iob.ie/funds or

download the registration form and submit to the Institute: The Registrations Team

The Institute of Banking IFSC 1 North Wall Quay Dublin 1

- By calling the Registration Line on +353 (1) 611 6500.

SEMESTER START AND CLOSING DATES

January 2015 ExamsWe encourage you to register by 29 September 2014* as lectures commence in early October.

* Where places are available we will continue to accept applications until 7 November 2014.

May 2015 ExamsSemester Start Date26 January 2015*

* Where places are available we will continue to accept applications until 6 March 2015.

PROGRAMME COMMENCEMENT

October 2014.

INTERESTED? NEXT STEPS

For further information on this programme visit www.iob.ie/funds or you can contact:

Edel HaydenProgramme Manager, The Institute of Banking

E: edel.hayden@iob.ieT: +353 (1) 611 6509

Further Information

As this programme is the only specialist

qualification in this area, it was the obvious choice for me. I wanted to build on the great foundation that the certificate had given me. The knowledge

taught on this programme was quite practical and I could easily transfer it from the classroom to work. I had complete confidence in the lecturers’ knowledge and the lectures were delivered in a clear and concise way.”

Enda Kelly Grant Thornton

The College of Professional Finance10 How we help you pass your exams

Learning SupportsOnce you have registered, the learning supports are available from the My Institute section of our website (www.iob.ie) which should be checked regularly during your course of study.

LecturesA series of lectures held in Cork, Dublin, Kilkenny and Limerick (subject to adequate student demand).

ManualThe manual is the principal study support available to you. It is essential that you have a thorough knowledge of all areas covered in the manual - there is no substitute for studying the manual.

Revision WeekendThis revision weekend prepares you for your exam. It is an opportunity to revisit the main topics covered throughout your studies and work through exam style questions with your lecturer.

Student HandbookThe handbook offers support, advice, and guidance to students throughout their studies with the Institute. It explores the learning supports we have developed for you, equips you with the knowledge of what to expect from our programmes, outlines exam structures and gives you the support to develop your academic and study skills.

Learning PlanThe Learning Plan is an invaluable study aid as it shows you how the module is organised. This online document:

- Introduces you to the module you are studying

- Outlines the programme structure

- Shows you how much study should be completed each week

Past and Sample PapersSample and past exam papers are made available on the My Institute section of the website.

Study TrackerA week by week guide through the semester, explaining what material should be covered and highlighting important dates for your diary.

Lecturer ContactEmail contact with your lecturer for any questions that you have throughout your studies.

How we help you pass your exams

The Institute of Banking are committed to ensuring that our students have access to a wide range of educational supports. These supports are in place to assist every student with their studies.

We advise all students to avail of the study supports as their use leads to exam success. Below is an overview of the learning supports available.

The College of Professional Finance 11Professional Diploma in Investment Fund Services

The Institute of Banking IFSC, 1 North Wall QuayDublin 1

P: +353 (0)1 611 6500E: info@iob.ieW: www.iob.ie

Summit Finuas Network 84-86 Lower Baggot StreetDublin 2

P: +353 (0)1 605 1500E: louise.ryan@ibec.ieW: www.summitfinuasnetwork.com

Irish Funds Industry Association (IFIA)10th Floor, One George’s Quay PlazaGeorge’s Quay, Dublin 2

P: +353 (0) 1 675 3200E: info@irishfunds.ieW: www.irishfunds.ie/