ABM Member Banks (Certification of Specialist Areas in Banking)

In October 2017, the second industry-wide commitment was signed between AICB and the Member Banks of The Association of Banks in Malaysia (ABM) to enhance professional standards in the Malaysian banking industry through specialised certifications.

The commitment aims to ensure that all key personnel in critical job functions
in the following areas have the relevant technical skills and expertise:

  1. Internal Audit
  2. Risk Management
  3. Credit
  4. Compliance
  5. Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT)

This requirement took effect in January 2018. It was also agreed that 50% of the relevant staff should be certified by 2020, and 100% by 2022.

Please see the tabs that follow for the Implementation Framework of the industry-wide commitment.

Note: Due to the COVID-19 pandemic, the AICB Council has approved to defer the target completion date for AICB Certification by one year, i.e. 50% AICB certification by end-2021 and 100% by end-2023.

CATEGORYREQUIREMENTS
Senior Management (C-suite)
  1. Employees are required to complete the Chartered Banker (CB) or Certification for Bank Auditors (CBA) certifications within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the audit function; or
    2. appointment (new employees) or the date on which the audit function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess:
    1. an existing Certificate in Internal Auditing for Financial Institutions (CIAFIN); or
    2. professional accounting or audit certifications with at least 3 years of relevant audit experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations and memberships with AICB upon completion of the following programmes:
    1. Chartered Banker; or
    2. Certification for Bank Auditors.
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in internal audit and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded via:
    1. PEC for the CBA Certification — senior management personnel with at least 15 years of audit or relevant experience, inclusive of 5 years in a C-1 position; or
    2. CVA — employees who have completed the Competency Validation Assessment (CVA) programme for the CBA certification.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Entry-Level to Mid-Level
  1. Employees are required to complete the CBA certification within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the audit function; or
    2. appointment (new employees) or the date on which the audit function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess:
    1. an existing Certificate in Internal Auditing for Financial Institutions (CIAFIN); or
    2. professional accounting or audit certifications with at least 3 years of relevant audit experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations (Certified Bank Auditor) and memberships with AICB annually
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in internal audit and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020
  7. Certification exemptions (to be approved by AICB) may be accorded to:
    1. Entry-level employees – holders of the CIAFIN certification, or professional or specialised certifications in audit.
    2. Mid-level employees – those who have completed the Competency Validation Assessment (CVA) or Prior Experience Conversion (PEC) programmes for the CBA certification.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions
CATEGORYREQUIREMENTS
Senior Management (C-suite)
  1. Employees are required to complete Chartered Banker (CB) or Bank Risk Management (BRM) certifications within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the risk function; or
    2. appointment (new employees) or the date on which the audit function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess professional certifications such as the Financial Risk Manager (FRM) or the Professional Risk Manager (PRM).
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain professional designations and memberships with AICB annually upon completion of the following programmes:
    1. Chartered Banker; or
    2. Bank Risk Management (Certified Bank Risk Practitioner).
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in risk and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded via:
    1. PEC for the BRM certification — senior management personnel with at least 15 years of risk management or relevant experience, inclusive of 5 years in a C-1 position; or
    2. CVA — employees who have completed the Competency Validation Assessment (CVA) programme for the BRM certification.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Entry-Level to Mid-Level
  1. Employees are required to complete the BRM certification within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the risk function; or
    2. appointment (new employees) or the date on which the risk function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess professional certifications in risk management such as the Financial Risk Manager (FRM) or the Professional Risk Manager (PRM).
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations (Certified Bank Risk Practitioner) and memberships with AICB annually.
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in risk and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded to employees who have completed the Competency Validation Assessment (CVA) or Prior Experience Conversion (PEC) programmes for the BRM certification.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Senior Management (C-suite)
  1. Employees are required to complete the Chartered Banker (CB) or the Professional Credit Certification (PCC) within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the credit function; or
    2. appointment (new employees) or the date on which the credit function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess a degree or professional qualifications with relevant banking work experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain professional designations and memberships with AICB upon completion of the following programmes:
    1. Chartered Banker; or
    2. Certified Business Credit Practitioner or Certified Retail Credit Practitioner.
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in credit and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded via:
    1. PEC for the Business Credit Professional or Retail Credit Professional certifications — senior management personnel with at least 15 years of credit or relevant experience, inclusive of 5 years in a C-1 position exercising credit authority; or
    2. CVA — employees who have completed the Competency Validation Assessment (CVA) programme for the Business Credit Professional or Retail Credit Professional certifications.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Entry-Level to Mid-Level
  1. Employees in Credit Origination to Recovery functions are required to complete the PCC certification within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the credit function; or
    2. appointment (new employees) or the date on which the credit function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess a degree or professional qualifications with relevant banking work experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations (Certified Business Credit Practitioner or Certified Retail Credit Practitioner) and memberships with AICB annually.
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in credit and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded to employees who have completed the Competency Validation Assessment (CVA) or Prior Experience Conversion (PEC) programmes for the Business Credit Professional or Retail Credit Professional certifications.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Senior Management (C-suite)
  1. Employees are required to complete the Chartered Banker or Advanced Certification in Regulatory Compliance or a higher-level certification in compliance or any other specialised certification related to compliance (to be introduced by AICB at a later stage) within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the compliance function; or
    2. appointment (new employees) or the date on which the compliance function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess a degree or professional qualifications with compliance-related work experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations and memberships with AICB upon completion of the following programmes:
    1. Chartered Banker; or
    2. Certified Practitioner – Compliance.
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in compliance and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded via:
    1. PEC for the Advanced Certification in Regulatory Compliance — senior management personnel with at least 15 years of compliance or relevant experience, inclusive of 5 years in a C-1 position; or
    2. CVA — employees who have completed the Competency Validation Assessment (CVA) programme for the Advanced Certification in Regulatory Compliance.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Entry-Level to Mid-Level
  1. Entry-level employees are required to complete the Certification in Regulatory Compliance, and mid-level employees are required to complete the Advanced Certification in Regulatory Compliance, within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the compliance function; or
    2. appointment (new employees) or the date on which the compliance function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess a degree or professional qualifications with compliance-related work experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations (Certified Practitioner – Compliance) and memberships with AICB annually upon completion of the Advanced Certification in Regulatory Compliance.
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in compliance and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded to employees who have completed the Competency Validation Assessment (CVA) or Prior Experience Conversion (PEC) programmes for the Advanced Certification in Regulatory Compliance.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Senior Management (C-suite)
  1. Employees are required to complete the Chartered Banker or the Certified Professional in Financial Crime Compliance certifications or any other specialised certifications related to AML/CFT (to be introduced by AICB at a later stage) within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the AML/CFT function; or
    2. appointment (new employees) or the date on which the AML/CFT function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess a degree or professional qualifications with AML/CFT-related work experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations and memberships with AICB upon completion of the following programmes:
    1. Chartered Banker; or
    2. Certified Professional in Financial Crime Compliance: Certified Senior Practitioner – AML/CFT
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in AML/CFT and 5 hours in ethics.
  6. 50% of relevant employees must be certified by 2020.
  7. Certification exemptions (to be approved by AICB) may be accorded to employees who have completed the Competency Validation Assessment (CVA) programme for the Advanced Certification in Anti-Money Laundering/Counter Financing of Terrorism.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.
CATEGORYREQUIREMENTS
Entry-Level to Mid-Level
  1. Entry-level employees are required to complete the Certification in AML/CFT, and mid-level employees are required to complete the Advanced Certification in AML/CFT or the Certified Anti-Money Laundering & Counter Financing of Terrorism Compliance Officer (CAMCO) within 5 years from the effective date of:
    1. 1 January 2018, for existing employees in the AML/CFT function; or
    2. appointment (new employees) or the date on which the AML/CFT function was assumed, whichever applicable.
  2. The Accelerated Route is available for those who possess a degree or professional qualifications with AML/CFT-related work experience.
  3. Any other certifications recognised by AICB will be considered as a pathway to AICB membership.
  4. Employees are required to maintain their professional designations and memberships with AICB upon completion of the Advanced Certification in AML/CFT or CAMCO qualifications.
  5. Employees are required to comply with the annual CPD requirement of 35 hours, of which 10 hours must be in AML/CFT and 5 hours in ethics.
  6. Certification exemptions (to be approved by AICB) may be accorded to employees who have completed the Competency Validation Assessment (CVA) or Prior Experience Conversion (PEC) programmes for the Advanced Certification in Anti-Money Laundering/Counter Financing of Terrorism.
Note: Recommendations to AICB for exemptions must be approved by the CEOs of the respective institutions.