ITIO Factsheet


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ITIO Factsheet

  1. 1. 8 ¤ +44 (0)20 7645 0680 * Securities & Investment Institute The Securities & Investment Institute is the principal provider of qualifications for the financial services industry. In particular SII have developed a wide ranging programme of qualifications for employees working in – or aspiring to work in operations within the financial services industry. The IT in Investment Operations (ITIO) qualification has been developed for IT staff working in financial services, who wish to develop their knowledge and understanding of IT needs specific to the financial services arena. It will be of particular interest to those who are new to the industry, or who are hoping to move into the financial services industry. Who is it for? This qualification is suitable for IT staff who are new to the financial services industry. It provides firms with a benchmark from which to assess an employee’s knowledge and competence and offers those engaged in IT a broader understanding of the information technology needs of a firm in this sector. Candidates can choose to take the IT in Investment Operations qualification as a stand alone award. Alternatively, candidates can register for the Investment Administration Qualification (IAQTM) and choose the IT in Investment Operations as one of the 3 units that must be taken to complete the IAQTM. QCA The Securities & Investment Institute has been approved as an Awarding Body by the QCA and as such both individuals and firms can be assured that the Institute’s processes, policies and systems meet rigorous quality assurance standards. “ It IN INVESTMENT OPERATIONS The development and dependence on technology in the securities industry has been accelerated in the last few years due to increasingly lower margins and the extension into new markets. The introduction of the ITIO qualification is very timely and gives an excellent opportunity to the industry community to significantly enhance their knowledge of the role and the challenges of information technology in today’s world Kaushik Banerjee, Director, Business Development, Europe Tech Mahindra Limited Key Features the first qualification developed specifically for IT staff working in the securities investment industry designed to help IT staff understand more fully the industry sector in which they operate ideally suited for use as part of an induction programme for IT staff within the investment industry valuable benchmark to ensure all staff have a required level of knowledge specific to their job role provides a comprehensive overview of the role of information technology in front office and operations departments offers IT staff greater confidence in their job roles encourages greater understanding and communication between IT and other departments in the firm offered as a stand-alone award or as one unit of SII’s globally recognised IAQTM
  2. 2. Summary Syllabus ELEMENT 1 INFORMATION TECHNOLOGY IN THE SECURITIES INDUSTRY 1.1 The significance of the Financial Services And Markets Act 2000 1.2 The purpose of 'Know Your Customer' 1.3 The three stages of Money Laundering 1.4 The offences that constitute Insider Dealing and Market Abuse 1.5 The significance of the Data Protection Act 1998 1.6 The features of Euro and other Currency Redenominations 1.7 The purpose of MiFID, and its impact on the IT infrastructure 1.8 The features and characteristics of Sarbanes-Oxley 1.9 The features and characteristics of Basel II ELEMENT 2 IT AND THE FUNCTIONAL FLOW OF FINANCIAL INSTRUMENTS 2.1 The function and connectivity of Recognised Investment Exchanges, Overseas and designated Investment Exchanges and Clearing Houses 2.2 The different technologies of a variety of external Real Time Information Sources ELEMENT 3 THE ROLE OF IT IN THE FRONT OFFICE 3.1 The IT support requirements of Order Placing and Filling 3.2 The function and IT implications of “Automated” Trading systems 3.3 The basic IT characteristics of Trade Capture and Risk Management for the following Front Office functions ELEMENT 4 THE ROLE OF IT IN THE PRE- SETTLEMENT PHASE 4.1 The IT Alignment To Pre-Settlement Phase Key Risk Indicators 4.2 The IT implications of Trade Confirmations 4.3 The IT requirements for reporting to Regulators 4.4 The IT requirements for reporting to Customers 4.5 The impact of Stock Lending on IT ELEMENT 5 THE ROLE OF IT IN THE SETTLEMENT AND POST-SETTLEMENT PHASES 5.1 The IT support requirements of Transaction Instructions, including Omgeo 5.2 The IT requirements for Cash Funding (Positioning) 5.3 The function of IT within the Settlement process 5.4 The function of IT within post-settlement Reconciliation procedures 5.5 The function of a variety of various Messaging Standards ELEMENT 6 THE IMPACT OF IT ON FINANCIAL CONTROL 6.1 The IT requirements of General Ledger Accounts (GLA) 6.2 The IT impact of the Financial Control Function (FCD) 6.3 The purpose of IT within Investment Industry Accounting procedures ELEMENT 7 IT MANAGEMENT 7.1 The IT Governance relating to Measuring IT Performance and Managing and Monitoring Risk 7.2 The concept of Management and Support of Applications 7.3 The function of Service (Help) Desks And Follow-The- Sun Model 7.4 The purpose of Service Level Agreements (SLAs) and Metrics (Internal And External) 7.5 Prioritisation Levels and the responsibilities of Support Teams 7.6 The management of the various Computer Resources including IT Infrastructure library 7.7 The IT implications of Disaster Recovery (DR) and Business Continuity Planning (BCP) 7.8 The key stages of a Software Development Life Cycle (SDLC) 7.9 Understand the risks associated with various procedures including identification, control, status accounting, audit and review ELEMENT 8 IT DELIVERY 8.1 The Difference Between Programs, Projects, And Work Packets 8.2 The Meaning Of Scope, Estimation, Milestones, Tasks And Deadlines 8.3 The benefits of Buy Versus Build 8.4 Various development methodology 8.5 The different methodologies used Technology delivery: 8.6 The phases within the Capability Maturity Model (CMM) 8.7 The need for Testing and its importance to Quality Assurance ELEMENT 9 THE GLOBALISATION OF IT SERVICES 9.1 The Advantages and Disadvantages of Outsourcing 9.2 The Advantages and Disadvantages of Insourcing 9.3 The Advantages and Disadvantages of Offshoring, Near- Shoring, Best-Shoring 9.4 The Vendor Selection Process For IT Projects 8 ¤ +44 (0)20 7645 0680 *
  3. 3. How is the qualification delivered? The qualification is delivered via a 1 hour examination – comprising 50 multiple choice questions. The pass mark is 70% How can I study for the qualification? SII currently offer the self-study route. SII have published a comprehensive workbook that covers every area of the syllabus. The end of chapter summaries will enable student to test their knowledge as they learn and sample examination questions enable candidates to ensure they are prepared before the examination. We recommend that candidates study the workbook for a minimum of 70 hours. For more information visit: Where can I sit the examination? The examination is offered via Computer Based Testing (CBT) and is available at Thomson Prometric test centres globally. Candidates will receive their results when they leave the test centre. For a list of CBT centres visit: How do I register for the IT in Investment Operations Qualification? Step 1: Pay a one off qualifications registration fee of £40 Step 2: Fill out a qualifications registration form: Step 3: UK candidates order the IT in Investment Operations workbook Step 4: Book your IT in Investment Operations examination Candidates then automatically receive free student membership for 12 months from date of completion of the Qualification Registration Form (QRF). Prices? One off qualifications registration fee £40 IT in Investment Operations examination UK candidates £85 International candidates £115 (includes pdf of workbook) Hardcopy of workbook £75 SII membership Candidates will receive free student membership on completing the qualification registration form. Successful completion of the ITIO leads to Affiliate membership of the Institute. Candidates who choose to take the ITIO as part of the IAQTM and successfully pass all three units, can progress to Associate membership of SII. Student membership includes: • free online version of SII magazine • discounts on conferences, training courses and publications • free dictionary of securities investment terms • 4 free CPD events a year Affiliate membership Affiliate membership entitles a candidate to many more benefits including free access to the SII CPD scheme and logging system. For more information on membership visit: Support from the Candidate Commonroom SII have created an online candidate commonroom to support students while they study. To view sample examination questions, find useful tips on passing the exam, or for more information on CBT, visit: 8 ¤ +44 (0)20 7645 0680 *
  4. 4. IT IN INVESTMENT OPERATIONS © 05/2007 Securities Investment Institute Centurion House 24 Monument Street London EC3R 8AQ All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recorded or otherwise without the prior permission of the copyright owner. Images: Copyright Microsoft Gallery Registered charity number 1036566. next steps Study for the Investment Administration Qualification (IAQTM) The IAQTM is a qualification aimed at staff engaged in administration and operations. This will enable IT staff to gain a greater understanding of a key project/department they work with. To pass the IAQTM candidates must sit 3 papers. IT in Investment Operations is both a stand-alone qualification and exists as a unit within the IAQTM. Candidates who have already passed the IT in Investment Operations qualification will therefore only have to sit two further units in order to complete the full IAQTM. For more information on IAQTM visit: 8 ¤ +44 (0)20 7645 0680 * More information? For more information on * Qualifications * Membership * Workbooks * Registering for the qualification * Booking the exam Call +44 (0)20 7645 0600 Email: Visit: