Announcements
Transition Guidelines for AICB’S New Professional Education and Membership Framework
Following our 26 July 2021 announcement on AICB’s new professional education and membership framework, “Update On AICB’s New Professional Education and Membership Framework”, we are pleased to share an overview of the transition guidelines for the new Chartered Banker (CB) Curriculum and Membership Framework (CB Framework).
A. Membership and Qualification Transition Pathways to Becoming a Chartered Banker via the New CB Framework
Under the new CB Framework, the pathways to becoming a Chartered Banker differ according to the following categories:
- Members under the current framework who have:
- NOT completed qualifications - Levels 1 and 2
- NOT completed qualifications - Level 3: Chartered Banker
- Completed qualifications - Levels 1 and 2
- Members under the previous framework (IBBM) who have completed qualifications - Levels 1 and 2.
Select from the four categories below to view the transition pathways applicable to you.
-
1a. Current framework - NOT COMPLETED qualifications (Levels 1 and 2)
A. Membership and Qualification Transition Pathways
CURRENT FRAMEWORK
New CB Framework
MEMBERSHIP & QUALIFICATION PROGRESSION
NO. OF MODULES TO COMPLETE
Affiliate
Associate Chartered Banker
Chartered Banker
Level 1 FOUNDATION
Level 2 SPECIALIST
Level 3 CHARTERED BANKER
Membership Progression
Qualifications
Status
AFFILIATE MEMBER
Level 1
- Executive Banker (EB)
- Certified Credit Executive (CCE)
- Certified Anti-Money Laundering & Counter Financing of Terrorism Executive (CAMEX)
- Certification in AML/CFT (CAML)
- Certification in Regulatory Compliance (CRC)
Not Completed
✓
1 Module
✓
1 Module
✓
1 Module
✓
2 Modules
5
ASSOCIATE MEMBER
Level 2
- Professional Banker (PB)
- Business Credit Professional (BCP)
- Retail Credit Professional (RCP)
- Bank Risk Management (BRM)
- Certification for Bank Auditors (CBA)
- Certified Anti-Money Laundering & Counter Financing of Terrorism Compliance Officer (CAMCO)
- Advanced Certification in AML/CFT (ACAML)
- Advanced Certification in Regulatory Compliance (ACRC)
Not Completed
N/A
✓
1 Module
✓
1 Module
✓
2 Modules
4
Table 1: Membership and Qualification Transition Pathways to Becoming a Chartered Banker for Members Who Have Not Completed Qualifications Under the Current Framework (Levels 1 and 2)
Members are required to complete their current qualifications before the last examination sitting, failing which the modules under the current framework will cease to be offered. Members will then be required to apply for modules under the new CB Framework. For clarity, please refer to Tables 2 and 3 respectively:
Level 1
Current Qualification
(Not Completed)Last Examination Sitting
New Qualification and Module to Complete in the New CB Framework
Executive Banker (EB)
December 2021
Choose 1 of the following qualifications from Level 1 Foundation:
- Certificate in Financial Services (CFS)
- Certificate in Credit (CCR)
- Certificate in Anti Money-Laundering and Counter Financing of Terrorism (CAMEX)
- Certification in Anti-Money Laundering and Counter Financing of Terrorism (CAML)
- Certification in Regulatory Compliance (CRC)
Certified Credit Executive (CCE)
December 2023
Certified Anti-Money Laundering & Counter Financing of Terrorism Executive (CAMEX)
December 2023
Certification in AML/CFT (CAML)
November 2022
Certification in Regulatory Compliance (CRC)
November 2022
Table 2: Qualification Transition Pathways for Members Who Have Not Completed Qualifications under Level 1 of the Current Framework
Upon completion of a Level 1 qualification, Affiliate members may then progress to Level 2 of the new CB Framework and complete:
- the Professionalism and Ethics (PET) module (compulsory), AND
- 1 of the specialised modules offered.
Level 2
Current Qualification
(Not Completed)Last Examination Sitting
New Qualification
New Qualification and Modules to Complete in the New CB Framework
Professional Banker (PB)
December 2023
Any Specialist Qualification
- Professionalism and Ethics (PET)
AND
- Any one specialised module offered under Level 2 of the new CB Framework
Business Credit Professional (BCP)
December 2023
Specialist Certificate in Bank Business Credit (SCBBC)
- Professionalism and Ethics (PET)
AND
- Bank Business Credit Practices (BBC)
Retail Credit Professional (RCP)
December 2023
Specialist Certificate in Bank Retail Credit (SCBRC)
- Professionalism and Ethics (PET)
AND
- Bank Retail Credit Practices (BRC)
Bank Risk Management (BRM)
December 2023
Specialist Certificate in Bank Risk (SCBKR)
- Professionalism and Ethics (PET)
AND
- Bank Risk Practices (BKR)
Certification for Bank Auditors (CBA)
December 2023
Specialist Certificate in Bank Audit (SCBKA)
- Professionalism and Ethics (PET)
AND
- Bank Audit Practices (BKA)
Certified Anti-Money Laundering & Counter Financing of Terrorism Compliance Officer (CAMCO)
December 2023
Specialist Certificate in Anti Money Laundering/Counter Financing of Terrorism (SCAML)
- Professionalism and Ethics (PET)
AND
- Anti-Money Laundering & Counter Financing of Terrorism Practices (CAMCO)
Advanced Certification in Anti-Money Laundering and Counter Financing of Terrorism (ACAML)
April 2023
Specialist Certificate in Anti Money Laundering and Counter Financing of Terrorism (SCAML)
- Professionalism and Ethics (PET)
AND
- Advanced Certification in Anti-Money Laundering and Counter Financing of Terrorism (ACAML)
Advanced Certification in Regulatory Compliance (ACRC)
April 2023
Specialist Certificate in Regulatory Compliance (SCRC)
- Professionalism and Ethics (PET)
AND
- Advanced Certification in Regulatory Compliance (ACRC)
Table 3: Qualification Transition Pathways for Members Who Have Not Completed Qualifications under Level 2 of the Current Framework
Upon completion of a Level 2 qualification, members may then progress to Level 3 of the new CB Framework to complete 2 of the 3 modules offered, subject to the terms and conditions.
B. Membership Progression
Table 4: Membership ProgressionMember Designation
Eligibility Criteria
Affiliate Member
Upon completion of a Level 1 qualification
Upon completion of a Level 2 qualification, members will be eligible to use the ACB professional designation
Upon completion of the Level 3 qualification, an ACB member will be accorded the Chartered Banker status and be eligible to use the Chartered Banker designation.
C. Option to Transition to the New CB Framework Before the Last Examination Sitting of Qualifications in the Current Framework
Members may opt to withdraw from their current qualifications before the last examination sitting by completing and submitting the Cancellation Request form to [email protected]. Upon approval, members may enrol for a new qualification in the equivalent level under the new CB Framework.
Note: The information provided above is correct as of the publication date.
-
1b. Current framework - NOT COMPLETED qualifications (Level 3: Chartered Banker)
A. Membership and Qualification Transition Pathways
CURRENT FRAMEWORK
New CB Framework
MEMBERSHIP & QUALIFICATION PROGRESSION
NO. OF MODULES TO COMPLETE
Affiliate
Associate Chartered Banker
Chartered Banker
Level 1 FOUNDATION
Level 2
SPECIALISTLevel 3
CHARTERED BANKERMembership Designation
Qualification
Status
CHARTERED BANKER
Level 3: Chartered Banker
Completed PER module
N/A
N/A
N/A
✓
2 Modules
2
Completed 1 module without PER
N/A
✓
1 Module
N/A
✓
1 Module
2
Completed 2 modules with PER
N/A
N/A
N/A
✓
1 Module
1
Completed 2 modules without PER
N/A
✓
1 Module
N/A
N/A
1
Table 1: Membership and Qualification Transition Pathways to Becoming a Chartered Banker for Members Who Have Not Completed Level 3: Chartered Banker Under the Current Framework
Members are required to complete the current Chartered Banker qualification before the last examination sitting, failing which the modules under the current framework will cease to be offered. Members will then be required to apply for modules under the new CB Framework.
The 3 new modules available under Level 3 of the new CB Framework are:
- Commercial Lending (COL)
- Bank Risk Management (BRM)
- Bank Strategy, Operations and Technology (SOT).
No.
Applicable To
Modules to Complete in the New CB Framework
1
Members who have:
- NOT completed Credit / Business Lending or Retail Lending in Professional Banker at Level 2, AND
- completed Risk at Level 2, AND
- completed the Professionalism, Ethics and Regulations (PER) module.
- Commercial Lending (COL), AND
- 1 other module.
2
Members who have:
- NOT completed Risk at Level 2, AND
- completed Credit / Business Lending or Retail Lending in Professional Banker at Level 2, AND
- completed the PER module.
- Bank Risk Management (BRM), AND
- 1 other module.
3
Members who have:
- NOT completed Credit / Business Lending or Retail Lending in Professional Banker and Risk at Level 2, AND
- completed the PER module.
- Bank Risk Management (BRM), AND
- Commercial Lending (COL).
4
Members who have:
- completed Credit and Risk at Level 2, AND
- completed the PER module.
5
Members who have:
- completed 1 module at Level 3, AND
- NOT completed the PER module.
- Professionalism and Ethics (PET) module, AND
- 1 other module.
6
Members who have:
- completed the PER module, AND
- completed 1 other module under the current framework.
7
Members who have:
- completed 2 modules under the current framework, AND
- NOT completed the PER module.
- PET module
8
Members who have NOT completed any modules under the current framework.
- PET module, AND
- 2 modules.
Table 2: Guidelines on Module Selection for Members Who Have Not Completed Level 3: Chartered Banker Under the Current Framework
Notes
- Members on the Professional Pathway under the current framework who were given the approval to complete only 2 CB modules, i.e. PER AND Credit and Lending, must complete only 2 modules, i.e. PET AND COL, in the new CB Framework.
- Members on the Senior Banker Pathway under the current framework who were given the approval to complete only 2 CB modules, i.e. PER AND Credit and Lending OR Risk Management in Banking, must complete only 2 modules, i.e. PET AND COL OR BRM, in the new CB framework.
B. Membership Progression
Member Designation
Eligibility Criteria
Upon completion of the Level 3 qualification, an ACB member will be accorded the Chartered Banker status and will be eligible to use the CB designation.
Table 3: Membership Progression
C. Option to Transition to the New CB Framework Before the Last Examination Sitting of Qualifications in the Current Framework
Members may opt to withdraw from their current qualifications before the last examination sitting by completing and submitting the Cancellation Request form to [email protected]. Upon approval, members may enrol for a new qualification in the equivalent level under the new CB Framework.
Note: The information provided above is correct as of the publication date.
-
1c. Current framework - COMPLETED qualifications (Levels 1 and 2)
A. Membership and Qualification Transition Pathways
CURRENT FRAMEWORK
New CB Framework
MEMBERSHIP & QUALIFICATION PROGRESSION
NO. OF MODULES TO COMPLETE
Affiliate
Associate Chartered Banker
Chartered Banker
Level 1 FOUNDATION
Level 2
SPECIALISTLevel 3
CHARTERED BANKERMembership Progression
Qualifications
Status
AFFILIATE MEMBER
Level 1
- Executive Banker (EB)
- Certified Credit Executive (CCE)
- Certified Anti-Money Laundering & Counter Financing of Terrorism Executive (CAMEX)
- Certification in AML/CFT (CAML)
- Certification in Regulatory Compliance (CRC)
Completed
N/A
✓
1 Module
✓
1 Module
✓
2 Modules
4
ASSOCIATE MEMBER
Level 2
- Professional Banker (PB)
- Business Credit Professional (BCP)
- Retail Credit Professional (RCP)
- Bank Risk Management (BRM)
- Certification for Bank Auditors (CBA)
- Certified Anti-Money Laundering & Counter Financing of Terrorism Compliance Officer (CAMCO)
- Advanced Certification in AML/CFT (ACAML)
- Advanced Certification in Regulatory Compliance (ACRC)
Completed
N/A
✓
1 Module
N/A
✓
2 Modules
3
Table 1: Membership and Qualification Transition Pathways to Becoming a Chartered Banker for Members Who Have Completed Qualifications Under the Current Framework (Levels 1 and 2)
Affiliate members who have completed a Level 1 qualification in the current framework may progress to Level 2 of the new CB Framework and complete:
- the Professionalism and Ethics (PET) module (compulsory), AND
- 1 of the specialised modules offered.
Upon completion of a Level 2 qualification, members may then progress to Level 3 of the new CB Framework to complete 2 of the 3 modules offered, subject to the terms and conditions.
B. Membership Progression
Member Designation
Eligibility Criteria
Affiliate Member
Upon completion of a Level 1 qualification
Upon completion of a Level 2 qualification, members will be eligible to use the ACB professional designation.
Upon completion of the Level 3 qualification, an ACB member will be accorded the Chartered Banker status and will be eligible to use the Chartered Banker designation.
Table 2: Membership Progression
Note: The information provided above is correct as of the publication date.
-
2. Previous framework (IBBM): COMPLETED qualifications (Levels 1 and 2)
A. Membership and Qualification Transition Pathways
PREVIOUS FRAMEWORK
New CB Framework
MEMBERSHIP & QUALIFICATION PROGRESSION
NO. OF MODULES TO COMPLETE
Affiliate
Associate Chartered Banker
Chartered Banker
Level 1 FOUNDATION
Level 2
SPECIALISTLevel 3
CHARTERED BANKERQualifications
Status
Level 1
- Certificate in Internal Auditing for Financial Institutions (CIAFIN)
- Banking and Financial Services Certificate (BFSC)
- Certificate in Offshore Financial Services and Administration (COFSA)
Completed
N/A
✓
1 Module
✓
1 Module
✓
2 Modules
4
Level 2
- Certified Credit Professional (CCP)
- Certified Credit Professional (CCP) Business
- Certified Credit Professional (CCP) Consumer
- Diploma in Banking and Financial Services (DBFS)
- Diploma in Banking and Finance (DBF)
Completed
N/A
✓
1 Module
N/A
✓
2 Modules
3
Table 1: Membership and Qualification Transition Pathways to Becoming a Chartered Banker for Members Who Have Completed Qualifications Under the Previous Framework (IBBM) (Levels 1 and 2)
Members who have completed a Level 1 qualification in the previous framework may progress to Level 2 of the new CB Framework and complete:
- the Professionalism and Ethics (PET) module (compulsory), AND
- 1 of the specialised modules offered.
Members who have completed any of the qualifications in Level 2 of the previous framework must complete the PET module (compulsory).
Upon completion of a Level 2 qualification, members may then progress to Level 3 of the new CB Framework to complete 2 of the 3 modules offered, subject to the terms and conditions.
B. Membership Progression
Member Designation
Eligibility Criteria
Upon completion of a Level 2 qualification, members will be eligible to use the ACB professional designation
Upon completion of the Level 3 qualification, an ACB member will be accorded the Chartered Banker status and be eligible to use the CB designation.
Table 2: Membership Progression
Note: The information provided above is correct as of the publication date.
B. Frequently Asked Questions (FAQs) on Transition Guidelines
We have prepared a set of Frequently Asked Questions (FAQs) in anticipation of the questions that you may have on the transition guidelines. Kindly download the FAQs here.
In the coming months, the Institute will also organise briefing sessions for members to familiarise themselves with the new CB Framework and the transition guidelines.
In the meantime, if you have any enquiries on the transition guidelines, kindly send an email to our Admission team at [email protected]
Thank you.
The continued use of membership designation requires you to maintain an annual membership with AICB, fulfil the annual Continuing Professional Development (CPD) requirements and adhere to the Code of Professional Conduct.
The continued use of membership designation requires you to maintain an annual membership with AICB, fulfil the annual Continuing Professional Development (CPD) requirements and adhere to the Code of Professional Conduct.
The continued use of the Chartered Banker designation requires you to maintain an annual membership with AICB, fulfil the annual Continuing Professional Development (CPD) requirements and adhere to the Code of Professional Conduct.
The continued use of the membership designation requires you to maintain an annual membership with AICB, fulfil the annual Continuing Professional Development (CPD) requirements and adhere to the Code of Professional Conduct.
The continued use of the membership designation requires you to maintain an annual membership with AICB, fulfil the annual Continuing Professional Development (CPD) requirements and adhere to the Code of Professional Conduct.
The continued use of the membership designation requires you to maintain an annual membership with AICB, fulfil the annual Continuing Professional Development (CPD) requirements and adhere to the Code of Professional Conduct.
The continued use of the membership designation requires you to maintain an annual membership with AICB, fulfil the annual Continuing Professional Development (CPD) requirements and adhere to the Code of Professional Conduct.
LEVEL |
MODULE |
|---|---|
LEVEL 1 |
Certificate in Financial Services (CFS) |
| Certificate in Credit (CCR) | |
| Certified Anti-Money Laundering & Counter Financing of Terrorism Executive (CAMEX) | |
| Certification in Anti-Money Laundering and Counter Financing of Terrorism (CAML) | |
| Certification in Regulatory Compliance (CRC) | |
LEVEL 2 |
Professionalism and Ethics (PET) |
| Bank Business Credit (BBC) | |
| Bank Retail Credit (BRC) | |
| Bank Risk (BKR) | |
| Bank Audit (BKA) | |
| Certified Anti-Money Laundering & Counter Financing of Terrorism Compliance Officer (CAMCO) | |
| Advanced Certification in Anti-Money Laundering and Counter Financing of Terrorism (ACAML) | |
| Advanced Certification in Regulatory Compliance (ACRC) | |
LEVEL 3 |
Commercial Lending (COL) |
| Bank Risk Management (BRM)* *This Level 3 Risk module differs from the Bank Risk Management qualification currently offered under Level 2. |
|
| Bank Strategy, Operations and Technology (SOT) |
Members are advised to take Bank Strategy, Operations and Technology (SOT).
Members are advised to take SOT.
Members are advised to take SOT as one of the modules.
Notes
Members who have:
- completed Credit AND Risk at Level 2 are advised to take SOT.
- completed Credit BUT NOT Risk at Level 2 are required to take BRM.
- completed Risk BUT NOT Credit at Level 2 are required to take COL.
- NOT completed both Risk AND Credit at Level 2 are required to take COL.
Notes
Members who have:
- completed Credit AND Risk at Level 2 are advised to take SOT.
- completed Credit BUT NOT Risk at Level 2 are required to take BRM.
- completed Risk BUT NOT Credit at Level 2 are required to take COL.
- NOT completed both Risk AND Credit at Level 2 are required to take COL.
Notes
Members who have:
- completed Credit AND Risk at Level 2 are advised to take SOT as one of the modules.
- completed Credit BUT NOT Risk at Level 2 are required to take BRM AND advised to take SOT as one of the modules.
- completed Risk BUT NOT Credit at Level 2 are required to take COL and advised to take SOT as one of the modules.
- NOT completed both Risk AND Credit at Level 2 are required to take COL AND BRM.
Note: This Level 3 Risk module differs from the Bank Risk Management qualification currently offered under Level 2.
The 3 new modules available under Level 3 of the new CB Framework are:
- Commercial Lending (COL)
- Bank Risk Management (BRM)*
- Bank Strategy, Operations and Technology (SOT).
*This Level 3 Risk module differs from the Bank Risk Management qualification currently offered under Level 2.
No. |
Scenario |
Modules to Complete in the New CB Framework |
|---|---|---|
1. |
Members who have:
|
|
| 2. | Members who have:
|
|
| 3. | Members who have:
|
|
| 4. | Members who have:
|
To complete any 2 of the following modules,
|
**Members are advised to take Bank Strategy, Operations and Technology (SOT) as one of the modules.