UK Securities & Investment Institute opens Singapore office

Source: UK Securities & Investment Institute (SII)

The UK Securities & Investment Institute (SII), the pre-eminent membership and qualifications body for the wholesale investment and securities industry has today (19th September 2006) confirmed Singapore as number 1 choice for its regional representation and announced the opening of its Singapore office.

The 20,000 strong membership organisation provides qualifications for front, middle and back office financial services staff. These qualifications are supported by a robust Continuing Professional Development (CPD) scheme for members to maintain their competency through conferences and professional development seminars.

The SII anticipates offering its front and back office qualifications in Singapore, otherwise known as the Certificate and IAQ suite. It has appointed Mona Poomy as its VP based in Singapore.

SII examinations are approved by the Monetary Authority of Singapore (MAS) and there are a large number of international banks with offices in Singapore who are keen that their workforce are trained to the same standard of competence as those in the UK. In addition to qualifying candidates to work in the Singapore market, the SII examinations will qualify them to work in a number of countries internationally, including the UK.

The SII has a strong focus on integrity and requires its members to sign up to a Code of Conduct. The SII recently opened an office in Mumbai.

The SII has also announced a partnership agreement with the Association of Chartered Certified Accountants (ACCA), the leading global accounting body. The agreement indicates the two organisations will collaborate and share resources around the world. ACCA has an office in Singapore which is part of a network of over 70 offices and active centres around the world.

Simon Culhane, Chief Executive of SII said, "We are very excited at the prospect of doing business here and our new office is an indicator of our commitment. We have spent some time researching Singapore and concluded that the work ethic, skills and knowledge of its workforce make Singapore a very attractive prospect for future international training and competence opportunities."

"As well as certifying a high level of knowledge and competence in different fields, our qualifications will be a badge of skill and expertise to help individuals who want to work in another country," said Mr Culhane.

Commenting on the SII-ACCA partnership, ACCA Chief Executive Allen Blewitt, said: "ACCA sees our partnership with SII as one which will have a significant and beneficial impact. We share much in common, including a commitment to promote the highest ethical standards amongst finance professionals and to work in the public interest. We particularly look forward to working in partnership with SII Singapore where hundreds of our members work in the financial services sector. They will benefit from the opportunities which will arise from ACCA and SII sharing resources and expertise in a number of areas to enable them to enhance their knowledge and career opportunities in Singapore and the wider region."

The Institute of Banking & Finance (IBF) Singapore welcomes SII's latest move to hub its regional office in Singapore. IBF Chief Executive, Martin Teo, said: "Singapore has a strong reputation as a leading international financial centre and it is strategically located to connect to high growth regions in Asia and beyond. Besides being able to attract world-class financial institutions to stage a presence in Singapore, it is equally important to be able to draw world-class financial professional bodies, such as the SII to Singapore. This will enhance our training infrastructure and make it easier for our financial practitioners to upgrade their expertise and professionalism not only for Singapore but for the region. We look forward to working with the SII on deepening the capabilities of our talent pool, especially on the Financial Industry Competency Standards."

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