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).
  • Enrolment for CVA commences in the first week of May 2018 and application forms will be available for download before the enrolment date. To enroll, 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). Proof of completion must be provided upon submission for enrolment.

         OR

    1. Has completed the bank’s internal certification programme (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.

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

 

 

  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

FEES (RM) − 2018

(INCLUSIVE OF 6% GST)

CVA CVA (Resit) PEC
Credit: Certified Credit Executive (Foundation Level) 1,500 700 N/A
Credit: Retail Credit Professional (Intermediate Level) 1,500 700 1,500
Credit: Business Credit Professional (Intermediate Level) 1,500 700 1,500
Audit: Certification for Bank Auditors (Intermediate Level) 1,500 700 1,500
Risk: Bank Risk Management (Intermediate Level) 1,500 700 1,500
AML/CFT: Certification in AML/CFT (Foundation Level) 1,500 700 N/A
AML/CFT: Advanced Certification in AML/CFT (Intermediate Level) 1,500 700 1,500
Compliance: Certification in Regulatory Compliance (Foundation Level) 1,500 700 N/A
Compliance: Advanced Certification in Regulatory Compliance (Intermediate Level) 1,500 700 1,500

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.
  • To enrol for the CVA of the intermediate level, it is compulsory for the CVA candidates to attain the CVA of the foundation level or possess the pre-requisite for the intermediate qualification (e.g. to attain CCE qualification prior to enrolment for BCP or RCP assessment)
  • 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)

APPLY NOW (Click here to download application form)

 

How to Apply for CVA?

 

PEC Enrolment

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

PEC application form will be available soon 

Assessment

Assessment for CVA will be offered in August and December 2018. Frequency for 2019 will be determined at a later date.​

CVA: FOUNDATION LEVEL

Credit 
Certified Credit Executive

 AML/CFT 
Certification in AML/CFT
  Compliance
Certification in Regulatory Compliance
 Pre-requisite  N/A
 Time limit  2 years upon enrolment for the qualification.
Number of Attempts
  1.  Candidates are allowed 3 exam attempts (2 resits).
  2. Candidates are not allowed to apply for CVA or register for assessment upon exhausting:
    1. their 3 exam attempts, or
    2. the stipulated time limit,

   whichever comes first.

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 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 2 questions)
  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  Twice a year in August and December 2018
CVA: INTERMEDIATE LEVEL
Credit
Retail Credit Professional
Credit
Business Credit Professional
Audit
Certification for Bank Auditors
Risk
Bank Risk Management
AML/CFT
Advanced Certificate in AML/CFT
Compliance
Advanced Certificate in Regulatory Compliance
Pre-requisite
  1. Must have CCE qualification

OR

  1. Must pass CVA CCE before progressing to CVA RCP
  1. Must have CCE qualification

OR

  1. Must pass CVA CCE before progressing to CVA BCP
N/A
  1. Must have CAML qualification

OR

  1. Must pass CVA AML before progressing to CVA ACAML
  1. Must have CRC qualification

OR

  1. Must pass CVA CRC before progressing to CVA ACRC
Time Limit 2 years upon enrolment for the qualification.
Number of Attempts
  1. Candidates will be allowed 3 exam attempts (2 resits).
  2. Candidates are not allowed to apply for CVA or register for assessment upon exhausting:
    1. their 3 exam attempts, or
    2. the stipulated time limit,

   whichever comes first.

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 questions)
  2. Candidates may refer to e-learning materials
Assessment Duration   3 hours  2.5 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 Twice a year in August and December 2018

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
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 PEC enrolment for the August 2018 intake commences in June 2018

Assessment Schedule

CVA ENROLMENT & ASSESSMENT SCHEDULE 2018
Intake Enrolment Period Access to e-Learning Materials Exam Dates Exam Time CVA Exam Result Release Exam Centre
Aug 2018

2 May 2018 (Wed)
to 31 May 2018 (Thurs) 

29 June 2018 (Fri)

25 Aug  2018
(Sat)    
9.30 am – 12.30 pm  Risk

21 Sept 2018 (Fri) 

KL
BCP
RCP
2.00 pm –
5.00 pm
CCE

19 Oct 2018 (Fri) 

26 Aug 2018
(Sun) 
9.30 am –
11.15 am 
Cert in AML/CFT
Cert in RC
2.00 pm –
5.15 pm 
Adv Cert in AML/CFT
Adv Cert in RC

Note: For Audit Specialisation, the enrolment will commence in Q3 2018 once the Certification for Bank Auditors Module 2 is released.

 Intake Enrolment Period  Last Day to Register for Resit (With payment/LND Approval) Access to e-Learning Materials Exam Dates Exam Time CVA Exam Result Release  Exam Centre
Dec 2018 1 Aug 2018
(Wed) to
30 Aug 2018
(Thurs) 

2 Nov 2018 (Fri)    

5 Oct 2018 (Fri)

1 Dec  2018
(Sat) 
9.30 am – 12.30 pm Risk 11 Jan 2019
(Fri) 
     KL
BCP
RCP
2.00 pm – 5.00 pm CCE 25 Jan 2018(Fri) 
2 Dec 2018
(Sun)
9.30 am – 11.15 am Cert in AML/CFT
Cert in RC
2.00 pm – 5.15 pm Adv Cert in AML/CFT
Adv Cert in RC

Note: For Audit Specialisation, the enrolment will commence in Q3 2018 once the Certification for Bank Auditors Module 2 is released.

PEC ENROLMENT & ASSESSMENT SCHEDULE 2018
Intake Enrolment Period Release of Assignment Due Date for 1st Draft Assignment to Reviewer Reviewer to Revert on Draft Due Date for Final Submission Result Release
Aug 2018 1 June 2018 (Fri) to
13 July  2018 (Fri)
17 Aug 2018 (Fri) 28 Sept 2018 (Fri) 19 Oct 2018 (Fri) 30 Nov 2018 (Fri) 11 Jan 2019 (Fri)

QUALIFICATIONS RECOGNISED FOR CVA

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