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Citibank Singapore launches IBF certified skills training for staff

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Citibank Singapore today launched a series of multifunctional, future compatible skills-based training to provide for the rapidly transforming needs of the financial industry – the first bank to do so in Singapore.

According to a media release, some 1,600 consumer banking employees, from frontline to operational and managerial roles, will undergo training accredited by the Institute of Banking and Finance Singapore (IBF), in areas which have become increasingly important for banking professionals.

The programmes will be delivered in various formats, from instructor-led to web-based with elements of experiential learning. It will be rolled out in phases with the first phase introducing seven Level 1 courses in six capabilities:

  • Process/UX design feedback
  • Customer journey design
  • Product suitability
  • Asset liability management
  • Cybersecurity
  • Fraud detection and prevention

Staff who complete the courses will be certified by IBF under Level 1 certifying their competence in these skills. These core consumer banking skills will give employees a foundational knowledge of the consumer banking business and expand on their ability to meet customers’ evolving needs.

Citibank aims to have all staff complete the full suite of courses under IBF’s six skills pillars within two years. New employees to Citibank Singapore will also be required to complete the IBF training upon being confirmed in their roles.

This skills-based approach prepares staff for the future economy by focusing on the expertise needed to thrive in a changing financial landscape, introducing emerging trends and sparking interests in these areas, thereby facilitating individual development and enabling progression within the bank and the industry.

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Han Kwee Juan, chief executive officer, Citibank Singapore, said: “New technology and accessibility to data are enabling businesses to develop new products and services more efficiently. At Citi, we constantly harness our digital capabilities to make banking relevant, convenient and remarkable. By cultivating a culture of curiosity, boldness and adaptability, and equipping our staff with technical knowledge through training and certification, we are empowering them to curate bespoke experiences for our customers.”

The bank plans to progressively roll out more training courses that will address 13 other consumer banking skills this year and over the next year. This also builds upon the bank’s efforts last year in boosting training standards by accrediting the new-hire training for retail bank sales employees.

Han added: “We are investing in our people so they can grow as professionals and remain relevant as the bank evolves. A culture of learning and adaptability will give our employees more options and open doors to future career opportunities and adapt to the changing nature of their jobs.”

IBF CEO Ng Nam Sin, said: “I commend Citibank for being the first bank in Singapore to align training for their staff with the IBF Standards for Consumer Banking. The IBF Standards for Consumer Banking were designed to equip practitioners with cross-functional skills and digital capabilities needed to stay relevant as business models and jobs evolve. By aiming to have all its staff complete these programmes and become IBF-certified within 2 years, Citibank Singapore has taken a clear step to demonstrate its commitment to prepare staff to take on the jobs of the future.”

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