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| Syllabus Enhancement FSTEP Marks A Fresh Starts With Syllabus Enhancement
Kuala Lumpur, 20 July 2010 – Financial Sector Talent Enrichment Programme (FSTEP) which is managed by Institut Bank-Bank Malaysia (IBBM) in collaboration with Bank Negara Malaysia (BNM) today has unveiled the new enhanced syllabus for its next intake in early 2011.
To date, FSTEP has trained more than 680 aspiring graduates spanning over 4 batches starting December 2007. Some of the FSTEP graduates have secured responsible positions in the banking and financial industry.
The syllabus is a culmination of collaborative efforts between FSTEP Quality Assurance Committee, Senior Officers of Bank Negara Malaysia and the experienced industry practitioners of both banking and insurance industries. The syllabus enhancement involves two aspects namely, the programme design and the delivery methods to benchmark against the best practices in the area of human resource development.
Deputy Governor, Dato' Muhammad Ibrahim and Head of FSTEP, Mr. Lee Khee Joo
along with the FSTEP Steering Committee members during the launching ceremony
As today’s banking industry becomes more global and complex intertwined with the needs for innovative thinking and consumer-oriented marketing strategies to remain competitive, talents becomes one of the crucial factors in determining the success of the organizations within the industry as a whole. The syllabus enhancement is part of the on-going initiatives to implement effective and proven programme design together with well-customized pragmatic methodologies such as case studies, role play, simulations and workshops in delivery methods to optimize adult learning retention.
The fast-paced and progressive development of the Malaysian financial industry warrants a more market-oriented and information-sensitive curriculum. The key challenge of syllabus enhancement addresses the need for a dynamic and industry-relevant programme to groom high-calibre and high-quality talents needed to navigate the industry into the future.
The enhanced programme design among other things, introduced the following:-
a) An overview of the Malaysian financial services industry highlighting the present challenges and past useful lessons as well as experiences. The topics will involve the various strategic plans of Bank Negara Malaysia and Securities Commission.
b) Streamlining common topics of the 4 streams of conventional banking, Islamic banking, investment banking and insurance/Takaful to eliminate any duplication or repetitions of subject matters across the 4 streams of study.
c) Providing the specialisation of streaming on financial institution-sponsored participants under pre-selected scheme to cater for the stream – specific core subject areas.
d) The adoption of two one-week attachments whereby all participants will be assigned to both banking institutions as well as insurance/Takaful companies to gain insightful and practical exposure on the operations of both types of institution in between the technical classroom training.
As a result of the above changes, the duration of technical classroom training will be reduced while greater emphasis will be placed on internship period with financial institutions.
It is envisaged that the syllabus enhancement will provide the main thrust of preparing the participants of FSTEP for working in financial sector as well as equipping the participants with relevant skills required by the Malaysian financial services industry.
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