The Securities Institute has added an asset servicing module to its Investment Administration Qualification (IAQ). The new Asset Servicing module has been developed in conjunctin with a number of firms, including Goldman Sachs, Citigroup and JP Morgan Chase.
Incorporated into the IAQ suite of examinations, Asset Servicing is the first examination to cover the the subject. The Institute says it is aimed at helping new and existing staff, and those in areas such as taxation and settlement, to become aware of the impact of their role on the business.
The Securities Institute, through the IAQ, provides qualifications and training designed specifically to meet the needs of operation al staff within the securities industry.
“Another addition to the industry’s most popular qualification for operational and administrative staff, the introduction of Asset Servicing (Corporate Actions) will bring the IAQ to a new audience and continue to raise the quality of firms’ operations infrastructure – reducing scope for error , ” says John Kirkpatrick, Senior Vice President Corporate Actions, Citigroup Global Transaction Services says:
The Securities Institute says the IAQ programme has always developed in response to the needs of the industry , that regulators have identified failing administration as a major contributor to firms’ errors , and that in the current market it is important that firms take action to protect against errors and losses. ” Ensuring staff are familiar with the data flows in their working environment and understand the losses that can be made through administrative error are key to maintaining clients and being successful in a tough business climate ,” says the Institute .
The first Asset Servicing exam will be held on 25th November 2003 at centres across the UK.
The Securities Institute is the examining body for the UK securities and derivatives industry and provides a wide range of industry qualifications, which attracted over 50,000 entries last year. The Institute is also a substantial provider of training courses and publications. It currently has 16,500 members in 2000 firms