Master of Commerce in Banking and Investment Management

Purpose

The purpose of the Master of Commerce in Banking and Investment Management qualification is to produce learners with specialist knowledge in banking and investment management. The proposed curriculum will achieve this by imparting advanced theoretical knowledge of quantitative techniques in finance, corporate investments, bank risk and regulations, investment analysis, financial engineering, and research methods. The qualification will further equip the learners with empirical skills in Banking and Investment concerning critiquing current research, evaluating processes of knowledge production, and applying appropriate methods to solve or make enquiries in the field. The qualification will equip learners with skills in ethical matters in all the processes regarding knowledge production in the area, disseminating written or oral information to an audience of experts, and developing independent learning strategies through research dissertation. Furthermore, the qualification will impart skills and specialist knowledge through theories, methodologies and engagement related to making learners independent thinkers and problem-solvers and applying theory to practical, real-life situations through research dissertation. Finally, the qualification will produce learners who work as a researcher in the banking and financial field, credit and investment manager, portfolio managers, corporate investment bankers, financial analysts, financial advisors, stockbrokers, or actuaries.

Upon completion of this qualification, qualifying learners will be able to

• Demonstrate advanced theoretical knowledge in banking, investments, and research.
• Apply and conduct empirical investigations into issues that affect investment, and banking and propose solutions to these issues.
• Apply techniques in asset management in putting together securities issuers and investors, eliminating ban risks, understanding bank regulations, designing investment mix and policies and asset allocations, and researching and reporting on issues in the banking and investment sector.
• Demonstrate high-level knowledge of financial modelling and derivative of financial engineering.

Rationale

In a world of competitive environment and the movement towards the fourth (4th) industrial revolution and technological advancement, it is important that the business community is aware of the banking and investment solutions that respond to today's needs. Therefore, the qualification will address these needs so that various stakeholders in the sector and prospective learners are provided with banking and investment management solutions and skills that respond to the business environment's needs. It is intended that learners enrolled for this qualification will contribute, through independent research, advanced problem-solving skills and critical, reflective thinking that will contribute to the knowledge and practice in the field. Learners will present research findings in reports that meet the accepted criteria and ethical principles of the institution.

The qualification responds to the learners who would like to further their studies and develop more advanced knowledge and skills. The qualification will contribute to the development of professionals with impeccable analytical abilities and management skills that are essential at this upper level. Learners in the qualification can work as officials responsible for capital raising, financial planning, cash, and asset management. Learners can also work as credit managers, investment managers, and analyse foreign exchange managers. The qualification provides learning and career pathways into finance, investments, banking qualifications and careers.

The qualification will enable learners to acquire advanced knowledge, specific skills, and applied competence in the specialised field of Banking and Investment for continued personal intellectual growth, gainful economic activity, and to make valuable contributions to society. The qualification is important to the South African economy and society in that it will produce cadres that manage financial entities that play an important role in the economy. Banks, credit unions, and other financial institutions provide credit to help expand the economy by directing funds from savers to borrowers. These financial institutions need properly qualified learners to make them achieve these roles.

Recognition of Prior Learning (RPL)

The institution has an approved Recognition of Prior Learning (RPL) policy which is applicable to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. RPL may be applied for access, credits from modules and credits for or towards the qualification.

RPL for access

• Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
• To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations should they be allowed entrance into the qualification.

RPL for exemption of modules

• Learners may apply for RPL to be exempted from modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

RPL for credit

• Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.
• Credit shall be appropriate to the context in which it is awarded and accepted.

Entry Requirements

The minimum entry requirement for this qualification is

• Postgraduate Diploma in Finance, Banking, and Investment Management, NQF Level 8.

Or

• Postgraduate Diploma in Investment Management, NQF Level 8.

Or

• Bachelor of Commerce Honours: Investment Management, NQF Level 8.

Or

• Bachelor of Commerce Honours in Investment Management, NQF Level 8.

This qualification consists of the following compulsory and elective modules at National Qualifications Framework Level 9 totalling 192 Credits.

Compulsory Modules, Level 9, 176 Credits

• Quantitative Techniques in Finance, 16 Credits.
• Corporate Investment Banking, 16 Credits.
• Research Methodology for Advanced Finance, 16 Credits.
• Bank Risk, Regulations and Compliance, 16 Credits.
• Investments Analysis and Portfolio Management, 16 Credits.
• Dissertation in Banking and Investment Management, 96 Credits.

Electives Modules, Level 9, 16 Credits (Select one module from the following options)

• Financial Engineering and Innovation, 16 Credits.
• Applied Financial Modelling and Innovation, 16 Credits.

1. Demonstrate specialist knowledge to enable engagement with and critique of current research or practices, as well as advanced scholarship or research in banking and investments.
2. Conduct empirical investigations into issues that affect investment and banking and propose solutions to these issues.
3. Demonstrate command of and the ability to design, select and apply appropriate and creative methods, techniques, processes, or technologies to complex practical and theoretical problems.
4. Demonstrate the ability to use a wide range of specialised skills in identifying, conceptualising, designing, and implementing methods of enquiry to address complex and challenging problems within a field, discipline, or practice; and an understanding of the consequences of any solutions or insights generated within a specialised context.

Associated Assessment Criteria for Exit Level Outcome 1

• Analyse and apply advanced theoretical knowledge in quantitative techniques in finance, corporate investments, bank risk and regulations, investment analysis and financial engineering through the application of research methods.
• Apply specialist knowledge in banking and investment management and empirical skills in Banking and Investment concerning critiquing current research, evaluating processes of knowledge production, and applying appropriate methods to solve or make enquiries in the field.
• Apply high-level knowledge of financial modelling and derivative of financial engineering in banking and investment management.

Associated Assessment Criteria for Exit Level Outcome 2

• Clearly identify and define the research problem.
• Develop and present a research project by applying the correct research methodologies and techniques.
• Draw systematically and creatively on the theories, research methodologies, methods/ techniques (including statistical and mathematical techniques), literature and materials of their discipline/field of choice.
• Operate autonomously and take responsibility for their own work and be accountable for the work of others when working with others in a team.
• Critique and evaluate current research and participate in scholarly debates, addressing both theory and practice, in the science area of Specialisation.

Associated Assessment Criteria for Exit Level Outcome 3

• Apply the theories, research methodologies, epistemologies, and methods/techniques relevant to banking and investment management.
• Apply high levels techniques in asset management in putting together securities issuers and investors, eliminating ban risks, understanding bank regulations, designing investment mix and policies and asset allocations, and researching and reporting on issues in the banking and investment sector.

Associated Assessment Criteria for Exit Level Outcome 4

• Use a range of specialised banking and investment management-related skills to identify, analyse and deal with complex problems and issues.
• Cite relevant literature and recent trends in the technologies, techniques, models, and theories in the field of banking and investments.
• Apply advanced information retrieval and processing skills to identify, analyse, synthesise, and independently evaluate quantitative and/or qualitative data in banking and investment management.
• Operate in specialised banking investment contexts and utilise ethical decision-making skills in dealing with complex ethical and professional issues and make informed judgements on such issues.
• Analyse work process in the world of Banking and investments as senior investment managers, corporate investors and financial modellers and researchers.

INTEGRATED ASSESSMENT

Integrated Assessment in the qualification provides an opportunity for learners to show that they can integrate concepts, ideas, and actions across this qualification to achieve competence that is grounded and coherent with the purpose of this qualification. Integrated assessment will show how already demonstrated competence in individual areas can be linked and applied for the achievement of a holistic outcome as described in the Exit Level Outcomes.

Integrated Assessment will judge the quality of the observable performance, and the quality of the reasoning that lies behind it. Assessments tools will encourage learners to give an account of the thinking and decision-making that underpin their demonstrated performance. Integrated assessment in this qualification allows the learners to demonstrate applied competence and uses a range of formative and summative assessment methods.

Formative Assessment

The overall learning outcomes for the qualification entail a set of content-specific learning outcomes that are developed in parallel alignment with each other. Content- or module-specific outcomes are assessed using a variety of means as appropriate to the module in question. These may include, but are not limited to:

• Written module-based assignments.
• Tests.
• Graded presentations; notably in the case of the Research Methodology module.
• Final examinations which may involve a combination of more discursive written presentations and problem-based exercises related to advanced scenarios.
• For the Research Methodology module, learners are assessed based on a consolidated portfolio that includes a research proposal, seminars, and presentations.

All the modules, except for the two research modules, are assessed using formative assessment of course work (50%) and an examination (50%) adopts summative assessment. The coursework mark is derived from a combination of tests, assignments, tutorial exercises and seminar presentations. These different assessment tasks will allow learners several different ways and opportunities to demonstrate that they have achieved the module's learning outcomes.

Summative Assessment

The research methodology module is assessed by means of continuous assessment (CA). According to the institution's Assessment Policy (2012), continuous assessment involves assessing all the outcomes of a module by a variety of methods with timely and frequent feedback throughout the module. The CA tasks include tests or assignments to ensure that learners understand the concepts and theories and a research proposal. The research dissertation is assessed 100% by means of summative assessment.