Operations & Middle Office Qualifications

More and more, employers are looking to recruit people who have practical industry experience combined with qualifications. Having the right qualifications allows you to apply to a wider selection of vacancies, makes you a more valuable asset to your employer and adds variety to your working life. 

Although studying will mean sacrificing some of your leisure time, this is a long-term investment in your career and will show potential employers that you are committed to progressing. 

Which course to take?

Assessing which course is appropriate for you and when to study is difficult and will depend on what is motivating you. Whether you are just starting your career in a new profession and need a specialist qualification, or you want to broaden your current skills, or even if you want to specialise in another field, outlined below is a brief overview of the many qualifications that are available and where to go for further information. 

Ensure you have the right support

Before signing up to any course, take a moment to consider your current employer and their attitude to your studying. Will they support you financially in your studies? Will they allow you time off? Are you working in an environment conducive to learning where you can experience all areas of the business?  

If you would like some further information on qualifications, our consultants are always available to discuss your career options and which are the best qualifications for you.
 

IAC - Investment Advice Certificate

IAQ - Investment Administration Qualification

IMC - Investment Management Certificate

CFA - Chartered Financial Analyst

SIC - Securities Institute Certificates

FPC - Financial Planning Certificate
 
 

IAC - Investment Advice Certificate - www.securities-institute.org.uk

An FSA recognised qualification, the IAC is designed for the independent financial advisor. It serves as confirmation of the credibility of advice being given. 

It is specifically for those who advise on investments, advise on stakeholder pension decisions or supervise administration relating to life policies and stakeholder pension schemes.

The qualification is developed and monitored by practitioners from all major investment sectors, ensuring that the demands of the exam are supported by your work-experience. It requires you to handle realistic scenarios, constructing portfolios using current market rates and investment strategies.

The IAC is recognised by the FSA as an Approved Examination for those who are:

- engaged in advising on investments which are packaged products, securities or derivatives;

- taking private customers through stakeholder pension scheme decision trees;

- engaged in supervising administrative functions relating to the effecting of life policies and operating stakeholder pension schemes.

The qualification is made up of three papers.

Paper 1 - An Introduction to Financial Services

Paper 2 - Investment, Savings and Protection Products

Paper 3 - Financial Advice

 

 
 

IAQ - Investment Administration Qualification - www.securities-institute.org.uk

An FSA approved examination. This qualification is for support staff for overseeing administration activities, for example, financial services administration, settlements and junior analysts.

The objective of the IAQ is to develop both your knowledge and understanding of a wide range of relevant and practical investment areas.

The qualification is awarded when three modules or two modules and one exemption are passed. Your module selection will depend on your individual circumstances. Candidates will generally fall into one of four groups.

1. Individuals currently working in a supervisory role in a company that is authorised and regulated by the Financial Services Authority. You will be required to take the following modules:

- Introduction to Securities and Investment

- FSA Regulatory Environment

- A technical module relevant to the role

2. Individuals working in a firm authorised and regulated by the Financial Services Authority, who will not be taking on an overseeing role, may, if agreed by their firm, select any three modules.

3. Those working for firms that aren’t authorised and regulated by the Financial Services Authority. This also applies to firms based offshore if their firm agrees. Individuals may select any three modules but are asked to consider passing Introduction to Securities and Investment first and then select two modules from the following:

- Global Custody

- Global Settlement

- Operational Risk

4. Those entering the IAQTM examination privately are advised to take Introduction to Securities and Investment and FSA Regulatory Environment as two of the three modules, but may select any three modules.

 

 

IMC - Investment Management Certificate - www.uksip.org

The IMC is a benchmark competency examination for those engaged in the management of investments, for example financial advisors or fund accountants. It is an FSA approved examination for a number of regulated activities including: managing and advising on investments, acting as a broker fund advisor, overseeing the administering of investments. The certificate also provides an excellent introduction to those working in support areas such as information technology and marketing.

The Investment Management Certificate aims to provide you with the knowledge and understanding of:

- The regulation and practices of financial markets.

- Securities and investments.

- The principles of investment management.

To achieve the qualification, you must pass a multiple-choice paper, which is split into eight modules.

1. Regulatory Environment

2. Financial Instruments & Other Investments

3. Markets

4. Taxation

5. Portfolio Management

6. Accounting

7. Economics

8. Statistics 

 
 

CFA - Chartered Financial Analyst - www.securities-institute.org.uk

The CFA qualification is administered and awarded by the Association of Investment Management and Research (AIMR). The CFA serves as a globally recognised standard for measuring the competence and integrity of financial analysts.

There are three comprehensive and rigorous examinations to pass over a three-year period. The examinations test your ability to apply investment principles at a professional level. The topics covered are economics, accounting, security analysis, and money management.  

You must also have at least three years of professional investment experience and comply with the AIMR's code of ethics.

Level I

- Financial statement analysis.

- Macro and micro-economics.

- Quantitative methods of investment analysis and management.

- Financial markets and instruments.

- Corporate finance.

Level II

- Analyse specific equity and fixed-income securities and other investments.

- Estimate expected investment return and risk.

- Compare alternative investment choices and make investment recommendations.

- Apply the CFA Institute Code of Ethics and Standards of Professional Conduct in practical situations. 

Level III

- Performance presentation standards and measurement techniques.

- The CFA Institute Code of Ethics and Standards of Professional Conduct from an organisational and compliance perspective.

  
 

SIC - Securities Institute Certificates - www.securities-institute.org.uk

Formerly known as the FSA Registered Persons Examinations, the Securities Institute Certificates are a series of examinations designed to satisfy the FSA examination requirements for those individuals seeking Approved Persons status. These examinations are relevant to those working in financial services, especially those giving financial advice.

These exams now include the Certificate in Investment Management. This has received regulatory approval for individuals working in investment management, advice and customer trading.

The Certificate Programme

The Certificate course sets out to meet the requirements of those working in the securities and derivatives markets looking to obtain Financial Services Authority (FSA) Approved Person status. Gaining a Certificate qualifies you to operate in advising and dealing in securities and derivatives and also managing investments. 

To achieve the overall qualification candidates must pass:

Unit 1 - Financial Regulation (formally known as the Regulatory Paper)

and choose a pathway from the Units below:

Unit 2 - Securities

Unit 3 - Derivatives

Unit 4 - Securities and Financial Derivatives

Unit 5 - Investment Management

(The Certificate in Corporate Finance continues as now, pending its submission for accreditation to the QCA.).

FPC - Financial Planning Certificate - www.cii.co.uk/cii.aspx

The FPC qualification is set by the Chartered Insurance Institute and is approved by the FSA. The qualification aims to provide an understanding of the basics of the financial services market for its students. It is divided into two papers and covers the provision of financial advice, investment products and regulatory issues as well as investment and risk. The examination is broken down into units which can be taken online, with instantaneous results. For each unit a ‘Record of Achievement’ is awarded.

Upon qualification you will meet the standards required by the FSA for those looking to become Financial Advisers. In addition, should you wish to study the Diploma in Financial Planning, qualification in the FPC will fulfil the entry level requirements.

The qualification covers the following areas.

- Pensions

- Long Term Care Insurance

- Mortgages