QFA qualification
- Thread starter wendy
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Re: Financial Regulation
I work for a bank & I know that the regulation as we are advised is that anybody who works in customer service & may be answering questions that are deemed in any way advisory re savings, investments or lending will now have to have the QFA Diploma or similar.
Even when you pass your QFA to keep your qualification you have to attend lectures with possibly a mix of CBT for more than 20hours annually to keep your qualification.
If workers don't have the QFA but they have been working in such a role for over 4 yrs they may qualify for "Grandfathering" which means they can be exempt from doing the exams as they are qualified by experience.
Hope this is what you wanted to know.
I work for a bank & I know that the regulation as we are advised is that anybody who works in customer service & may be answering questions that are deemed in any way advisory re savings, investments or lending will now have to have the QFA Diploma or similar.
Even when you pass your QFA to keep your qualification you have to attend lectures with possibly a mix of CBT for more than 20hours annually to keep your qualification.
If workers don't have the QFA but they have been working in such a role for over 4 yrs they may qualify for "Grandfathering" which means they can be exempt from doing the exams as they are qualified by experience.
Hope this is what you wanted to know.
Spondulicks
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Re: Financial Regulation
Does anyone know what level a QFA is at? Can you just buy one of these QFA certs like the provisional drivers from years ago when the waiting list was very long? Where do you get these QFA certs? Is it like an auctioneer's licence?
Does anyone know what level a QFA is at? Can you just buy one of these QFA certs like the provisional drivers from years ago when the waiting list was very long? Where do you get these QFA certs? Is it like an auctioneer's licence?
Re: Financial Regulation
No, no and no. There are 4 stages to QFA (4 exams) and ongoing CPD. Check out www.lia.ie for more details.
QFA isn't a licence to do anything. It is merely a qualification.
No, no and no. There are 4 stages to QFA (4 exams) and ongoing CPD. Check out www.lia.ie for more details.
QFA isn't a licence to do anything. It is merely a qualification.
Re: Financial Regulation
The QFA has now changed to 6 parts. I am in the process of doing part 4 but I am in the last lot to be doing it under the old system, as I had started 2yrs back.
It's become an increasingly difficult exam as more & more regulation has come about.
I sure wish you could just buy it like a licence cos it sure isn't easy !
The QFA has now changed to 6 parts. I am in the process of doing part 4 but I am in the last lot to be doing it under the old system, as I had started 2yrs back.
It's become an increasingly difficult exam as more & more regulation has come about.
I sure wish you could just buy it like a licence cos it sure isn't easy !
Spondulicks
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So we don't know what level it is at but there seems to be a number of levels and it is not a licence. So do you really need it if you are to sell financial products? Who will know any better?
What is this about CPD? Is that for real and does anyone check?
If someone is thinking of setting up in this area, this QFA seems as if it could be bypassed if it is not essential. One less thing to worry about.
What is this about CPD? Is that for real and does anyone check?
If someone is thinking of setting up in this area, this QFA seems as if it could be bypassed if it is not essential. One less thing to worry about.
Spondulicks
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Yes , the regulator seems to be the next port of call. We will see what comes from those quarters. It will be interesting to see do they endorse the QFA or even require it and what the chapter and verse is on it.
Yes it seems some people have to work hard to get it.
However if you got in under the fence due to experience , never mind the the dodgy non resident accounts nor the dodgy single premium policies that were provided or sold, they are now in clover. Chums look after chums.
Yes it seems some people have to work hard to get it.
However if you got in under the fence due to experience , never mind the the dodgy non resident accounts nor the dodgy single premium policies that were provided or sold, they are now in clover. Chums look after chums.
Spondulicks,
I don't know if you've opened any a/c's recently or had any other financial dealings, but the regulations in the Financial Services section have become very serious.
I notice a lot of people complain on different threads about the hassle of opening a/c's. I don't even try to repond because it's people like myself who get the full whack of the customers ire. Suffice it to say that if I open a/c's without proper compliance I'm in big trouble. a/c opening documents are checked not alone by higher up in my office, but also by H/O. And further if I get it wrong I am in danger of losing my job & this has been communicated in black & white ie. not just scare mongering.
So please just do me a favour, I don't know where you get your notions from. It's really irksome to someone - & there are a lot more out there like me - who has been studying extremely hard for the last while to have the qualification I'm trying to attain made little of.
The days of the "gombeen" men in Ireland are long gone !
I don't know if you've opened any a/c's recently or had any other financial dealings, but the regulations in the Financial Services section have become very serious.
I notice a lot of people complain on different threads about the hassle of opening a/c's. I don't even try to repond because it's people like myself who get the full whack of the customers ire. Suffice it to say that if I open a/c's without proper compliance I'm in big trouble. a/c opening documents are checked not alone by higher up in my office, but also by H/O. And further if I get it wrong I am in danger of losing my job & this has been communicated in black & white ie. not just scare mongering.
So please just do me a favour, I don't know where you get your notions from. It's really irksome to someone - & there are a lot more out there like me - who has been studying extremely hard for the last while to have the qualification I'm trying to attain made little of.
The days of the "gombeen" men in Ireland are long gone !
Spondulicks
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Perplexed,
There is a body called the NQAI which has seems to have a role in assessing the standard of qualifications. You might have a look at
[broken link removed]
as what you seem to be studying for seems to be outside that. Why is that so?
Good luck in your exams : you are very committed and it should pay off.
Do you know what you are getting and perhaps more importantly do your customers know what it stands for?
As for compliance, it is usually the person on the frontline gets it in the neck - a short review of the proceedings in Dublin Castle over the last 20 years should tell you that. You have my sympathy on that front alright.
There is a body called the NQAI which has seems to have a role in assessing the standard of qualifications. You might have a look at
[broken link removed]
as what you seem to be studying for seems to be outside that. Why is that so?
Good luck in your exams : you are very committed and it should pay off.
Do you know what you are getting and perhaps more importantly do your customers know what it stands for?
As for compliance, it is usually the person on the frontline gets it in the neck - a short review of the proceedings in Dublin Castle over the last 20 years should tell you that. You have my sympathy on that front alright.
Marinchik, I'm not sure how the QFA will help you get into a degree course, other than it shows your ambition/ability to further your studies.
What kind of degree course are you looking to do, partime/fulltime?
How many years experience have you got in the working world?
Are you over 25(to be a mature student)?How long do you want to study for? These factors could influence you more interms of course selection.
I've had a similar dilemma in recent times. I studied engineering, but was more interested in finance. Worked in Asset Finance for a while doing parts of the QFA's. Decided that wasn't the sector for me and now I'm working in funds/shares/derivatives sector. Am also studying for CIMA (www.cimaglobal.com) in my spare time. Doing the certificate in it as I came from a non-business background. It might be worth a look at in terms of accountancy, it concentrates on the industrial sector like running a businees.
Hopes some of that (if any) helps!
What kind of degree course are you looking to do, partime/fulltime?
How many years experience have you got in the working world?
Are you over 25(to be a mature student)?How long do you want to study for? These factors could influence you more interms of course selection.
I've had a similar dilemma in recent times. I studied engineering, but was more interested in finance. Worked in Asset Finance for a while doing parts of the QFA's. Decided that wasn't the sector for me and now I'm working in funds/shares/derivatives sector. Am also studying for CIMA (www.cimaglobal.com) in my spare time. Doing the certificate in it as I came from a non-business background. It might be worth a look at in terms of accountancy, it concentrates on the industrial sector like running a businees.
Hopes some of that (if any) helps!
Spondulicks
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Marinchik,
It depends where you are. Many universities and institutes of technology offer business degrees by night . Certified accountancy is another possibility. www.acca.com might be worth a look as many accountants in the financial services sector came through that route. If you want to be at the front end continuing on the QFA route on to a financial services degree might be a route. If you are into the back end, accounting might be a better shot but it is demanding one.
Whatever you are thinking of, ask the provider where it rates in the NQAI level framework referred to in a previous posting in this area.
Good luck.
It depends where you are. Many universities and institutes of technology offer business degrees by night . Certified accountancy is another possibility. www.acca.com might be worth a look as many accountants in the financial services sector came through that route. If you want to be at the front end continuing on the QFA route on to a financial services degree might be a route. If you are into the back end, accounting might be a better shot but it is demanding one.
Whatever you are thinking of, ask the provider where it rates in the NQAI level framework referred to in a previous posting in this area.
Good luck.
Thanks, thats makes picture clearer
I'm not from Ireland and in my country we have a different education system, thats why i don't really know where to start. I've started with finances couple years ago in here didn't think i'd enjoy it so much I'm looking for part-time course for no more than 2 years and i'm 26yoa. I was thinking DBS?
I'm not from Ireland and in my country we have a different education system, thats why i don't really know where to start. I've started with finances couple years ago in here didn't think i'd enjoy it so much I'm looking for part-time course for no more than 2 years and i'm 26yoa. I was thinking DBS?Spondulicks
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Dublin Business School, Dublin Institute of Technology, Griffith College : these are all possibilities for 2 year courses , the most common of which would be a higher certificate in business studies. This is awarded by HETAC ( see www.HETAC.ie) .
There is also an accounting technicians course run by the Institute of Chartered Accountants in Ireland : give them a call or have a look at their site.
The jobs market recognises and understands all these qualifications.
There is also an accounting technicians course run by the Institute of Chartered Accountants in Ireland : give them a call or have a look at their site.
The jobs market recognises and understands all these qualifications.
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Spondulicks
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How many of the senior executives in banks were QFAs?