Financial Services: CCP for Retail Banking Relationship Manager - Wealth Management Accelerator Programme (WMAP)
Reskill your competencies to take on new jobs
Accurate as of 13 Jun 2022
What is it?

The Wealth Management Accelerator Programme (WMAP) is an industry new hire Career Conversion Programme (CCP) that aims to build an industry pipeline of Retail Banking Relationship Managers as financial institutions grow their wealth management business.

This is a full-time programme that provides mid-careerists the opportunity to be hired by a financial institution and attend industry-curated structured training, followed by on-the-job training to pivot into a career in wealth management within the financial services sector.

The programme is managed by Institute of Banking and Finance (IBF), with the support of Workforce Singapore (WSG), the Monetary Authority of Singapore (MAS) and participating financial institutions.


Who can apply?

The Programme is open to individuals who meet the following criteria:

  • Must be a Singapore Citizen (SC) or Permanent Resident (PR) aged 21 years and above;
  • Must have graduated or completed NS, whichever is later, at least two years at the point of application;
  • Possesses either
  • a degree,
  • a diploma awarded by a polytechnic in Singapore, 
  • GCE ‘A’ Level certificate with passes in at least three subjects at “Higher 2” level and two subjects at “Higher 1” level, or
  • an International Baccalaureate Diploma qualification.
  • No prior work experience in these fields within Financial Services sector
  • Personal Banking,
  • Financial Planning,
  • Bancassurance,
  • Wealth Management, or
  • Relationship Management.
  • Must not be a shareholder* of the hiring financial institution, or its related companies;
  • Must not be related to the owner(s)^ of the hiring financial institution;
  • Must not be immediate ex-staff of the hiring financial institution or its related companies; and
  • No outstanding sponsorship obligations.

 

* does not apply to publicly traded shares in listed companies

^ for non-publicly listed companies, refers to individuals with shareholding per ACRA profile


How does it work?

Funding support

Monthly Salary

Duration

Funding Support from WSG

$3,500

 

3 months

Standard Rate

70% capped at $2,450 per month for CCP duration

Enhanced Rate

90% capped at $3,150 per month for CCP duration

For SC trainees who are unemployed and actively seeking employment for six months or more, and/or SC trainees aged 40 years and above in the year of commencement of the CCP.

 

Application and Selection Process

Applicants can select up to 3 preferred financial institutions to apply to, however IBF reserves the right to forward the application to other participating financial institutions.

 

Shortlisted applicants will be invited for interview(s) with the participating financial institution(s).

 

Successful applicants will be offered full-time employment with the hiring financial institution. They will acquire the necessary skills, complete the necessary Capital Markets and Financial Advisory Services (CMFAS) examinations and attain IBF Certification Level 1 through (a) structured training with the appointed training provider and (b) on-job-training with the hiring financial institution.

 

Applications will close on 30 Jun 2022 [updated].

 

Please refer to the IBF website  for more details on the programme.

 


Applicant’s Consent

Applicants shall agree for their details in the application to be shared with all participating financial institutions as well as IBF Careers Connect, to contact them for job matching services should their application to WMAP be unsuccessful.


Contact details

The Institute of Banking and Finance (IBF) Singapore at WMAP@ibf.org.sg

PCP