IBF Funding Programme
When MAS guidelines change or an audit is around the corner, your team needs proven skills in security, risk and audit, often at short notice. The IBF-accredited courses below are designed with finance professionals in mind. Up to 70% of the training cost is funded, and each course prepares you for a globally recognised certification such as CISSP, CISA or CCSP. We’ll walk you through IBF eligibility and the funding steps, so you can plan training around your work, not the paperwork.
What is IBF Standards Training Scheme?
The IBF Standards Training Scheme (IBF-STS) funds training and assessment programmes accredited under the Skills Framework for Financial Services.
Our IBF Accredited Courses
Governance and Service Management
ITIL Foundation
ITIL 4 Leader: Digital & IT Strategy (DITS)
DevOps
DevOps Foundation (DOF)
DevSecOps Foundation (DSOF)
Project Management and Agile
IBF-STS Funding Quantum
For training programmes starting on or after 1 January 2023:
Who
Singapore Citizens and Permanent Residents
(self- or company-sponsored)
Singapore Citizens aged 40 and above
(self- or company-sponsored)
Funding of direct training costs
50%,
capped at S$3,000 per participant per course
70%,
capped at S$3,000 per participant per course
- Company-sponsored participants: the company must be a Singapore-based financial institution regulated by MAS, or a FinTech firm certified by the Singapore FinTech Association.
- Self-sponsored participants: after IBF funding, you can use your SkillsFuture Credit on the remaining fee, if the course is listed on MySkillsFuture.
- Funding for the same course is given once per participant per calendar year.
Source: Institute of Banking and Finance, Training Support FAQ
Training delivered by Sapience Consulting under the IBF Standards Training Scheme (IBF-STS) is subject to the following terms and conditions.
Some classes may run in a hybrid format, and you can choose to attend in person or online. In-person places are limited by the size of the training venue and are given on a first-come, first-served basis.
For online classes, we’ll send you the virtual classroom details one week before the course starts. Online classes are conducted on Zoom or Microsoft Teams.
If you’re attending in person:
- Attendance is taken twice a day.
- If you’re feeling unwell, please let us know. If your class is also running online, you’re welcome to join virtually instead.
If you’re attending online and claiming IBF funding:
- Attendance is taken twice a day.
- Your camera must be on for the whole session.
- The whole session is recorded for audit and compliance purposes.
- Sapience may change the date, time or trainer due to factors beyond its control.
- Sapience isn’t responsible for any loss or damage caused by a change, postponement or cancellation of a course.
- We don’t refund cancellations if the participant is unable to attend, but you’re welcome to send a substitute at no extra charge. Invoices are payable in full within 30 days of the invoice date.
- Singapore Citizens and PRs who drop out partway through the course, don’t attend the full course or don’t pass the course assessment (if any) won’t be eligible for the IBF course fee subsidy.
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- Sapience may change the date, time or trainer due to factors beyond its control.
- Sapience isn’t responsible for any loss or damage caused by a change, postponement or cancellation of a course.
- We don’t refund cancellations if you’re unable to attend. Invoices are payable in full before the course starts. You may reschedule to another run of the same course, or to a different course of lower value, by emailing [email protected] before your course confirmation is sent. No changes can be made once the course is confirmed.
- Singapore Citizens and PRs who drop out partway through the course, don’t attend the full course or don’t pass the course assessment won’t be eligible for the IBF course fee subsidy.
To qualify for IBF-STS funding, you must successfully complete the IBF-accredited course. This includes meeting the attendance requirement and passing the assessment.
Source: IBF, Funding Support FAQ
The in-course assessment takes place at the end of the IBF-STS accredited course. You must pass it to qualify for IBF funding.
If you don’t pass on your first attempt, you’ll be offered a second attempt straight after the results are released, at no cost.
If you choose to take the second attempt at a later date instead, an administrative fee of S$100 applies.
An administrative fee of S$100 also applies to each third and later attempt. Each participant may make up to 5 attempts.
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To request a review of your assessment results, email [email protected].
An administrative fee of S$100 applies to each appeal review. It’s refunded if your appeal is successful.
Appeals are reviewed within 14 business days, and we’ll send you an official reply by email.
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IBF-STS subsidies are given on the condition that you:
- complete the course and meet the attendance requirements, and
- pass the in-course assessment at the end of the course.
If you don’t meet either or both conditions, you’ll need to pay Sapience Consulting the full course fee shown on the invoice.
Post-Course
IBF Certification is an industry-endorsed mark of quality for financial practitioners in Singapore. If you complete the required IBF-STS accredited courses and meet the relevant criteria, you can apply for IBF Certification within 5 years of completing the course.
- IBF Qualified (Level 1): for new entrants with less than 3 years of financial services experience.
- IBF Advanced (Level 2): for practitioners with 3 to 7 years of relevant experience.
- IBF Advanced (Level 3): for practitioners with at least 8 years of relevant experience.
Find out more on IBF’s certification page.
Source: IBF, Certification Application · IBF, Certification FAQ
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Other Fundings Available
SWDA (formerly SSG) Funding
SWDA Funding
SFEC Funding
SFEC Funding
SkillsFuture Credit
SkillsFuture Credit
PSEA Funding