Financial Services: CCP for Retail Banking Relationship Manager - Wealth Management Accelerator Programme (WMAP)
Reskill your competencies to take on new jobs
Accurate as of 30 Mar 2024
Please refer to ‘Contact Details’ below on how to apply for this Programme.
What is it?

The Wealth Management Accelerator Programme (WMAP) is a new hire Career Conversion Programme (CCP) that aims to build up an industry pipeline of Retail Banking Relationship Managers as Financial Institutions grow their Wealth Management business.

This is a full-time programme as mid-career applicants selected for this programme will be hired by a Financial Institution and receive 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), appointed training provider Wealth Management Institute (WMI) 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 from other government-funded programmes.

* 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

WSG’s Funding to Employers

Standard Rate 

(SCs/PRs below age of 40)

Enhanced Rate

Salary Support

Up to 70% of monthly salary for CCP training duration (capped at $5,000* per month)

Up to 90% of monthly salary for CCP training duration (capped at $7,500* per month)

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

*Note

  • For trainees who commence training from 1 April 2024
  • For trainees who commence training before 1 April 2024, the funding is capped at $4,000 and $6,000 for Standard Rate and Enhanced Rate, respectively.

 

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 Qualified (Level 1) in Retail Banking (Relationship & Sales Management) through (a) structured training with the appointed training provider and (b) on-job-training with the hiring Financial Institution.

Applications will close on 31 Jul 2023.

If you encounter any error accessing or submitting the application form, please re-try using one of these methods: use a different device, different browser, clearing your cache or using incognito mode on the browser.

Please refer to the IBF website for more details on the programme and relevant CMFAS examination information.


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.


Applicant's Declaration

Applicants shall declare that they have attended the WMAP information session or watched the recording of the session. Applicants shall also declare that the information they provided is accurate, complete and up-to-date.

You can watch the recording of the WMAP information session here.


PCP