Monetary Authority of Singapore Annual Report 2010/2011
Our Work
SINGAPORE AS AN INTERNATIONAL FINANCIAL CENTRE   33
Financial Sector Growth   33
Promoting Partnership Framework and Enhancing Infrastructure   34
Promoting Partnership Frameworks   34
Trading and Clearing Infrastructure   34
Box 4 : Private Banking Industry - Code of Conduct   35
Infrastructure for Long Term Growth   35
Raising Standards and Building Competencies   36
Deepening Competencies in Banking   36
Building Research Capabilities   36

Deepening Competencies in Banking

Working with the industry, the Institute of Banking and Finance (IBF) rolled out the new Corporate Banking Common Examination in September 2010. This applies to new entry-level Corporate Banking relationship managers (RMs) who will now be required to sit for a common examination modeled after the Financial Industry Competency Standards (FICS). By the end of 2010, nearly 150 RMs have gone through the assessment.