Higher Certificate in Banking

Purpose

The Higher Certificate in Banking is the first step on a Higher Education learning ladder that is designed to provide learners with foundations on which they can build a successful and fruitful career in the rapidly transforming arena of banking and allied financial services. It has a distinct focus on future adaptation, customer-centricity and other themes of critical concern to the industry. It has been constructed to meet the regulatory requirements of the Financial Services Conduct Authority for advisors and intermediaries in the banking industry, thus maximising relevance for students.

The purpose of the qualification is to develop in learners an informed understanding of the core areas of banking, and the key concepts and principles related to banking. The qualification also offers learners the opportunity to solve routine and even new problems within a familiar banking context. They will apply standard procedures or techniques and develop an understanding of the consequences of their problem-solving strategies, in a selected field, discipline or practice in banking, for example, personal banking, business banking, banking operations or first-level management.

Learners will gather, evaluate and utilise information from a range of information sources employed in the banking industry, including legislation and industry publications relevant to their level of work. They will develop an understanding of the banking environment, including the different systems, its parts and interrelationships.

Ethics and professional practice is a critical competence in the banking industry and learners will develop an understanding of the impact of non-compliance on the sustainability of the bank. The qualification exposes learners to professional ethical codes of conduct, values and practices and encourages self-assessment and application of these codes, values and practices to their own role and context. This includes the responsible use of information and other resources where applicable.

Opportunities for self-evaluation, as well as guidelines and tools to implement appropriate action to manage their own learning and promote the learning of others, are offered throughout the qualification. Where applicable, collaboration with, and responsibility for, the work of team members is integrated in the curriculum.

Rationale

The global economy in the first quarter of the 21st century is expected to be fundamentally changed by the Fourth Industrial Revolution, which is characterised by unprecedented advances in "robotics and automation, artificial intelligence, nanotechnology and material sciences".

In the banking and financial sector specifically, this type of technology-enabled innovation is referred to as 'Fintech'. Fintech is considered as "disruptive", "revolutionary" and armed with "digital weapons" that will "tear down" barriers and traditional financial institutions (World Economic Forum, 2017), and is expected to change the nature of banking quite radically, requiring of financial services institutions to be much more agile, innovative, and customer-centric in their approach.

Naturally, these technological innovations will impact the workforces of financial institutions as the definition of 'talent' evolves in terms of the skills required in this changing context. The qualification provides increased access to higher education, which should empower learners to function and progress in the volatile, ever-changing banking environment.

The qualification was developed in response to a need identified in consultation with the banking sector, in which process individuals from the Institute of Bankers (IoB), the Banking Association of South Africa (BASA), the Financial Planning Institute (FPI), as well as a number of individual banks, are participating. Banks are increasingly requiring entrance-level employees to have at least a National Senior Certificate, and some may even have other (non-banking) qualifications. However, these employees need a vehicle of introduction to the complex banking and financial services world, which will enable them to not just 'do the job' but engage intelligently and with insight into the intricacies of this particular sector. This is the need that this qualification should address.

The qualification is therefore seen as an ideal entry-level Higher Education qualification offered to employees in entry-level occupations in the banking industry, and school leavers or unemployed learners who wish to enter a junior position in the banking industry. The qualification will prepare learners for further learning in banking or related areas of study.

Recognition of Prior Learning (RPL)

The institution's Policy: RPL and Credit Accumulation and Transfer (CAT) allow for RPL for the purposes of access, as well as exemption, in line with the Council on Higher Education's (CHE's) policy in this regard.

RPL for access is applicable to all institution's qualifications. In the case of learners who do not meet the formal entry requirements of a qualification for admission purposes but may have completed informal learning that prepared them adequately for the specific qualification. In these cases, RPL learners are evaluated against the entry requirements in question, and if they meet the RPL requirements they will be required to write an RPL assessment.

RPL for exemption is applicable to all the institution's qualifications. Applicants who meet the entry criteria of a qualification, who believe that they have acquired the relevant knowledge and experience for a particular module/s through prior experience or other forms of learning, may apply for exemption of those modules through RPL. This is not applicable to a full qualification, but for specific modules only. Applicants will be required to successfully complete an RPL assessment.

Entry Requirements

The minimum entry requirements for this qualification are

• National Senior Certificate, National Qualifications Framework (NQF) Level 4.

Or

• Senior Certificate, NQF Level 4.

This qualification consists of the following compulsory and elective modules at Level 5 totalling 120 Credits.

Compulsory Modules, 100 Credits

• Academic Literacy, 10 Credits.
• Economics 1, 15 Credits.
• Foundational Banking Practice, 20 Credits.
• Financial Accounting 1, 15 Credits.
• Ethics and Compliance in Banking, 20 Credits.
• Customer Solutioning in Banking, 20 Credits.

Electives modules, totalling 20 Credits (Choose 1)

• Personal Banking, 20 Credits.
• Business Banking, 20 Credits.
• Banking Operations, 20 Credits.
• Business Management 1, 20 Credits.

1. Demonstrate an understanding of the financial services business environment and the key role players in the banking sector, their roles, relationships and impact.
2. Demonstrate an understanding of the key concepts, principles and models related to economics, financial accounting and banking.
3. Evaluate own performance and identify actions to develop the behaviour that will enable ethical conduct, growth, resilience and accountability.
4. Identify, evaluate and solve routine problems in a selected discipline in banking, using standard methods and techniques.
5. Select, evaluate and utilise appropriate information to communicate accurately in an academic and banking context.
6. Demonstrate an understanding of the impact of risk management and regulatory compliance on building trust and a sustainable banking business.
7. Demonstrate an understanding of the importance of providing competitive customer value to ensure a bank's profitability and a positive impact in the personal, business, economic and social domains.

Associated Assessment Criteria for Exit Level Outcome 1

• Describe the financial services sector and the role that banks play in an economy.
• Identify the role players and regulations that are fundamental to banking.
• Identify the disruptive impact of new technologies in the banking industry on a selected field, discipline or practice.
• Identify and describe markets in an economy.
• Explain the influence of government policy on the economy from a global and local perspective.
• Explain the financial goals of a business in light of market conditions.
• Describe the key concepts, principles and models of regulations, compliance and governance in financial services.

Associated Assessment Criteria for Exit Level Outcome 2

• Describe core economic and behavioural economic principles and their relevance to business.
• Explain selected macro-and microeconomic theories and how they can be used to describe an economy.
• Identify the key principles of financial management and accounting.
• Identify the key concepts and principles of banking.
• Explain the key concepts and principles related to a selected banking field, discipline or practice.
• Explain how banks remain financially sustainable and manage risk.

Associated Assessment Criteria for Exit Level Outcome 3

• Describe the role and behaviour of the successful professional in banking.
• Explain the agile customer-centric approach and how it impacts on professional success.
• Explain the importance of complying with ethical values and standards in a banking role.
• Identify the behaviour required to improve self-efficacy, develop a client-centric attitude, and promote personal professional success.

Associated Assessment Criteria for Exit Level Outcome 4

• Analyse basic financial statements using basic financial ratios.
• Identify and solve routine ethical and regulatory challenges in a banking context.
• Apply basic theories and standard procedures or techniques to solve routine problems in a selected field, discipline or practice.
• Demonstrate an understanding of the consequences of chosen problem-solving strategies in a selected field, discipline or practice.
• Identify the impact that technological advances will have on a selected field, discipline or practice in the banking industry.

Associated Assessment Criteria for Exit Level Outcome 5

• Access, evaluate, read and interpret information for academic purposes.
• Produce academic texts by formulating arguments, using paraphrasing and summarising, and citing sources using the Harvard method.
• Participate in business and learning discussions by conveying ideas clearly, listening with discernment and responding appropriately.
• Evaluate own financial position to determine changes required to achieve financial objectives.

Associated Assessment Criteria for Exit Level Outcome 6

• Identify the regulatory bodies and describe their functions within the financial services sector.
• Explain how the key Acts and regulations impact the financial services markets.
• Describe the consequences of non-compliance, and the impact of this on the sustainability of the bank.
• Identify the behaviour required to navigate the dynamic environment of regulatory compliance and risk management in the digital era.

Associated Assessment Criteria for Exit Level Outcome 7

• Describe banking customer segmentation, banking channels, the solutions banks offer, and how they are exchanged for value.
• Demonstrate an understanding of the concepts of value and value exchange from a business and client perspective.
• Describe the fundamental financial services classes of business provided by universal banks and how each class meets client need.
• Demonstrate an understanding of the principles and key indicators of client-centricity in a competitive evolving marketplace.
• Explain the impact of technological advances on the provision of banking services available to banking clients.

Integrated Assessment

To ensure constructive alignment of assessment tasks/methods with both the learning outcomes and the learning activities/methods, a variety of appropriate assessment tasks are included in the assessment design. Assessment tasks are carefully chosen to support the achievement of the intended learning outcomes, and feedback forms an integral part of the assessment design.

Work integrated learning is assessed throughout the qualification by means of application assignments. These assignments encourage the application of standard methods, procedures and techniques to solve defined, routine and new problems within a familiar context. It also provides students with the opportunity to demonstrate their understanding of the core concepts and principles related to banking and the impact of their chosen problem-solving strategies.

Formative Assessment

• Self-assessment by means of practice quiz.
• Question types similar to graded formatives.
• Combination of selected response/short questions (e.g. multiple choice, multiple answer, true/false, fill in the blank, matching) and constructed response/open questions requiring a short response.

Summative Assessment

• Examination: Question types similar to graded formatives, and short essay-type questions.
• Application assignment: constructed response, i.e. essay-type questions.