Competency Validation Assessment Programme (CVA) and Prior Experience Conversion Programme (PEC)

Overview


To support the requirements of the specialised certification programmes, AICB is offering a “speed to specialisation” option that allows eligible bankers to be exempted from the normal qualification pathway in specialised areas.

1)  Competency Validation Assessment Programme (CVA)

  • The CVA is an assessment to determine candidates’ knowledge and skills in their specialised areas (Audit, Risk, Credit, Compliance and AML/CFT).
  • The programme is aimed at candidates who are currently working in the specialised functions AND have completed internal/external programmes delivered by their respective banks. The candidates must also meet the eligibility criteria  for the respective CVA.
  • Upon passing CVA Intermediate Level, candidates may upgrade their membership to Associate Membership and are entitled to use the professional designation. Members must meet the CPD requirements to continue to carry the respective professional designation(s).
  • Application form will be available for download before the enrolment period. Click here for the schedule.
  • To enrol, candidates are required to be AICB Affiliate Members.

Click here to find out more about the eligibility criteria and guidelines.

2) Prior Experience Conversion Programme (PEC)

A “speed to specialisation” programme to recognise prior experience of the more proficient candidates in respective specialised areas. The candidates may not have gone through a formal learning or structured learning to acquire this high level competency.

  • The PEC allows more experienced candidates to showcase their experience and tacit knowledge through the production of a reflective paper.
  • Enrolment for PEC commences in June 2018 and application forms will be available for download before the enrolment date.

Click here to find out more about the eligibility criteria and guidelines.

 ELIGIBILITY CRITERIA

To enrol as a candidate for CVA or PEC, an applicant must fulfil the following criteria:

Competency Validation Assessment Programme (CVA) Prior Experience Conversion Programme (PEC)
  1. Work experience
    Currently working in the specialised functions;

               AND

  1. Completion of Structured Programme
      1. Has completed relevant professional qualification(s) or structured learning* programme(s) in the relevant specialised area. Proof of completion must be provided upon submission for enrolment.

         OR

      1. Has completed the bank’s internal certification programme in the relevant specialised area (6 days and above), which is accredited by the Finance Accreditation Agency (FAA). Proof of  completion must be provided upon submission for enrolment.

    *Structured learning refers to learning programmes or courses that are designed using instructional methodology.

  1. Work Experience
    1. Has at least 15 years of experience in the banking industry, inclusive of 5 years in any of these specialised functions (Credit, Audit, Risk, Compliance and AML/CFT);

                  AND

    1. Has been in C-1 position for at least 5 years.

(Note: Candidates who are in C-2 position will be considered on a case-by-case basis, with the final decision residing with the Institute.)

  1. Recommendation letter from the CEO
    A recommendation letter for PEC must be obtained from the CEO’s office or the designated office approved by the CEO. However, the final approval resides with AICB.

CVA/PEC Fees

QUALIFICATION

2019 Price (RM)
(Inclusive of 6% Service Tax)

CVA CVA (Resit) PEC
Credit: Certified Credit Executive (Foundation Level) 1,590 742 N/A
Credit: Retail Credit Professional (Intermediate Level) 1,590 742 1,590
Credit: Business Credit Professional (Intermediate Level) 1,590 742 1,590
Audit: Certification for Bank Auditors (Intermediate Level) 1,590 742 1,590
Risk: Bank Risk Management (Intermediate Level) 1,590 742 1,590
AML/CFT: Certification in AML/CFT (Foundation Level) 1,590 742 N/A
AML/CFT: Advanced Certification in AML/CFT (Intermediate Level) 1,590 742 1,590
Compliance: Certification in Regulatory Compliance (Foundation Level) 1,590 742 N/A
Compliance: Advanced Certification in Regulatory Compliance (Intermediate Level) 1,590 742 1,590

Membership for CVA/PEC

  • All CVA/PEC candidates are required to be AICB Affiliate Members.
  • Separate membership fees will apply.
  • Upon completion of the CVA/PEC programme, candidate must upgrade their membership to Associate Membership to carry the respective professional designation and meet the CPD requirements – kindly refer the respective membership levels.
  • Fee(s) for CVA/PEC is (are) non-refundable.
  • Individual members of AICB must retain membership with AICB and adhere to AICB’s Code of Professional Conduct.

CVA Enrolment

  • Certified Credit Executive (Foundation Level)
  • Retail Credit Professional (Intermediate Level)
  • Business Credit Professional (Intermediate Level)
  • Certification for Bank Auditors (Intermediate Level)
  • Bank Risk Management (Intermediate Level)
  • Certification in AML/CFT (Foundation Level)
  • Advanced  Certification in AML/CFT (Intermediate Level)
  • Certification in Regulatory Compliance (Foundation Level)
  • Advanced Certification in Regulatory Compliance (Intermediate Level)

 

 

CVA: FOUNDATION LEVEL

Credit 
Certified Credit Executive

 AML/CFT 
Certification in AML/CFT
  Compliance
Certification in Regulatory Compliance
 Pre-requisite Possess equivalent qualification to CCE (external or internal programmes)

(Refer to Eligibility Criteria)

Possess equivalent qualification to Certification in AML/CFT (external or internal programmes)

(Refer to Eligibility Criteria)

Possess equivalent qualification to Certification in Regulatory Compliance (external or internal programmes)

(Refer to Eligibility Criteria)

CVA: INTERMEDIATE LEVEL
Credit
Retail Credit Professional
Credit
Business Credit Professional
Audit
Certification for Bank Auditors
Risk
Bank Risk Management
AML/CFT
Advanced Certification in AML/CFT
Compliance
Advanced Certification in Regulatory Compliance
Pre-requisite Possess equivalent qualification to RCP (external or internal programmes)

(Refer to Eligibility Criteria)

(As at 12 July 2018)

Possess equivalent qualification to BCP (external or internal programmes)

(Refer to Eligibility Criteria)

(As at 12 July 2018)

Possess equivalent qualification to  CBA  (external or internal programmes)  

(Refer to Eligibility Criteria)

 

Possess equivalent qualification to BRM  (external or internal programmes)

(Refer to Eligibility Criteria)

Possess equivalent qualification to ACAML  (external or internal programmes)

and

degree with 3 years  AML experience

(Refer to Eligibility Criteria)

Possess equivalent qualification to ACRC (external or internal programmes)

and

degree with 3 years  Regulatory Compliance experience

(Refer to Eligibility Criteria)

PEC: INTERMEDIATE LEVEL

Credit
Retail Credit Professional

Credit
Business Credit Professional

Audit
Certification for Bank Auditors
Risk
Bank Risk Management
AML/CFT
Advanced Certification in AML/CFT
Compliance
Advanced Certification in Regulatory Compliance
Pre-requisite N/A

How to Apply for CVA?

PEC Enrolment

  • Credit Specialisation
  • Audit Specialisation
  • Risk Specialisation
  • AML/CFT Specialisation
  • Regulatory Compliance Specialisation

 

Apply Now

 

How to Apply for PEC?

Assessment

 

CVA: FOUNDATION LEVEL

Credit 
Certified Credit Executive

 AML/CFT 
Certification in AML/CFT
  Compliance
Certification in Regulatory Compliance
Assessment Structure Part 1: 50 independent MCQs (50%)
Part 2: 2 descriptive questions on Credit Writing (Subjective) (50%)
  1. Exam with 5 essay questions
    (choose any 2)
  2. Candidates may refer to e-learning materials
  1. Exam: A choice of questions which include case studies, report writing and essays
    (choose any 2)
  2. Candidates may refer to e-learning materials
Assessment Duration 3 hours 1 hour 45 mins (incl. 15 mins of reading time)
Passing Mark (%) Passing Mark − 60

Grade Band
Pass      60−100
Fail 1     50−59
Fail 2    40−49
Fail 3    30−39
Fail 4    29 and below

Passing Mark − 50

Grade Band
Distinction    70−100
Merit              60−69
Pass                50−59
Fail                 0−49                          

Exam Frequency  April, July, November
CVA: INTERMEDIATE LEVEL
Credit
Retail Credit Professional
Credit
Business Credit Professional
Audit
Certification for Bank Auditors
Risk
Bank Risk Management
AML/CFT
Advanced Certification in AML/CFT
Compliance
Advanced Certification in Regulatory Compliance
Assessment Structure Part 1: 60 independent MCQs (60%)

Part 2: 20 case-based MCQs (2−4 caselets) (40%)

  1.  Exam with essay questions (choose any 4 questions)
  2. Candidates may refer to e-learning materials
  1. Exam: A choice of questions which include case studies, report writing and essays (choose any 4)
  2. Candidates may refer to e-learning materials
Assessment Duration   3 hours  3 hours  3 hours   3 hours 15 mins (incl. 15 mins of reading time)
Passing Mark (%)

 

Passing mark − 60

Grade Band
Distinction    80−100
Pass                60−79
Fail                 59 and below

Passing mark − 60

Grade Band
Distinction 80-100
Pass
60-79
Fail
59 and below

Passing mark − 60

Grade Band
Distinction  80−100
Pass
60−79
Fail
59 and below

Passing mark − 50

Grade Band
Distinction    70−100
Merit              60−69
Pass                50−59
Fail                 0−49

Exam Frequency April, July, November

PEC: INTERMEDIATE LEVEL

Credit
Retail Credit Professional

Credit
Business Credit Professional

Audit
Certification for Bank Auditors
Risk
Bank Risk Management
AML/CFT
Advanced Certification in AML/CFT
Compliance
Advanced Certification in Regulatory Compliance
Time limit 2 years upon enrolment for the qualification
Number of Attempts Candidates are allowed 1 submission for the reflective paper. Candidates may submit 1 draft of the paper prior to submitting the final version to AICB for assessment.

Upon failing to attain acceptable standards in the reflective paper after the final submission, candidates are required to enrol for the PEC programme again and pay the respective fees accordingly.

Assessment Structure
  1. Candidates are to produce a reflective paper of approximately 3,000 words reflecting their experience and knowledge in their respective functions. Candidates will be given a broad topic to showcase their knowledge and competency.
  2. The reflective paper will be assessed based on 2 standards − “Acceptable” or “Non-Acceptable”.
Enrolment into PEC June and December

QUALIFICATION ENROLMENT & ASSESSMENT SCHEDULE FOR 2020

PRIOR EXPERIENCE CONVERSION PROGRAMME (PEC)

 

COMPETENCY VALIDATION ASSESSMENT PROGRAMME (CVA)

ACTIVITY

EXAM SITTING

APRIL 2020 (RESCHEDULED TO JULY/AUGUST 2020)

JULY/AUGUST
2020

NOVEMBER/DECEMBER
2020

Application Submission Closing Date for New Applicant 16 December 2019
(Monday)
13 April 2020
(Monday)
3 August 2020
(Monday)
Exam Registration and Payment Closing Date / L & D Sponsorship Approval Closing Date for New Applicant 20 January 2020
(Monday)
12 May 2020
(Tuesday)
7 September 2020
(Monday)
Exam Registration and Payment Closing Date / L & D Sponsorship Approval Closing Date for RESIT Candidates 20 January 2020
(Monday)
15 June 2020
(Monday)
5 October 2020
(Monday)
Exam Date 9 August 2020
(Sunday)
6 December 2020
(Sunday)
Exam Time 9.30 a.m. – 12.30 p.m.
CVA (BCP &  RCP)

2.00 p.m. – 5.00 p.m.
CVA (BRM, CBA)

 2.00 p.m. – 3.45 p.m.
CVA (Cert. in AML/CFT & Cert. in RC)

2.00 p.m. – 5.15 p.m.
CVA (Adv. Cert. in AML/CFT & Adv. Cert. in RC)

2.00 p.m. – 5.00 p.m.
CVA (BRM, CBA)

 2.00 p.m. – 3.45 p.m.
CVA (Cert. in AML/CFT & Cert. in RC)

2.00 p.m. – 5.15 p.m.
CVA (Adv. Cert. in AML/CFT & Adv. Cert. in RC)

Exam Result Release Date 18 September 2020
(Friday)
15 January 2021
(Friday)
Exam Centre

Kuala Lumpur

 

QUALIFICATIONS RECOGNISED FOR CVA

Please click here for the list of qualifications recognised for CVA.

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