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Government Subsidies (WAM)

To support the continuous development of the adults for pursuing their learning aspirations or enhancing their professionalism through professional training and examination, the Hong Kong Government launched “the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (the WAM Pilot Programme)” scheme to provide the subsidies to the learners.  

 

 

1.    The WAM Pilot Programme

The Hong Kong Government has launched a three-year Pilot Programme to promote talent training for the asset and wealth management (WAM) sector since 1 October 2016 and extended to the programme until 31 March 2026.

The main purpose of the programme is to facilitate the long-term sustainable development of the sector by attracting more talents and enhancing the professional competency of the in-service practitioners in the asset and wealth management area.

One of the initiatives is the Financial Incentive Scheme for Professional Training. It encourages financial services industry practitioners to acquire and upgrade professional skills in the asset and wealth management field.
 

HKIB WAM Eligible Training Programmes

The below modules are eligible for the WAM application.

Certified Banker (CB)

Postgraduate Diploma in Treasury Management for Certified Banker

  1. Bank Asset and Liability Management
  2. Treasury Markets and Operations

Postgraduate Diploma in Operations Management for Certified Banker

  1. Banking Law and Practice
  2. Operational Risk Management

Postgraduate Diploma in GBA and Cross-boundary Banking Management for Certified Banker

  1. GBA Banking Compliance and Cross-boundary Wealth Management
  2. Cross-boundary Banking Strategy and Management

Enhanced Competency Framework (ECF) on Retail Wealth Management
  1. Module 1: Regulatory Environment for Banking and Financial Planning
  2. Module 2: Investment Planning
  3. Module 3: Essentials of Banking
  4. Module 4: Insurance and Retirement Planning
  5. Module 5: Investment and Asset Management : Product Solutions
  6. Module 6: Investment and Asset Management: Alternative and Wealth Solutions
  7. Module 7: Financial Planning and Wealth Management

Enhanced Competency Framework (ECF) on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT)
  1. Advanced Certificate for ECF on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT)

Enhanced Competency Framework (ECF) on Compliance 
  1. Module 5: Investment and Insurance Compliance

 Certified Private Wealth Professional (CPWP) Module 2 – Ethics and Compliance
  1. Regulatory Regime in Hong Kong and Requirement on Sale of Investment Products
  2. Relevant Laws and Regulations relating to Client Engagement and Relationship Building
  3. Ethics and Practical Application of Legal and Regulatory Requirements for Private Banking
  4. Risk Management, Risk Governance and Risk Culture of Private Wealth Management Institutions

Eligibility

The applicant must be:

  • a Hong Kong resident and lawfully employable in Hong Kong; AND either:
  • a full-time in-service practitioner (not necessarily in the field of asset and wealth management) on the commencement date of the course concerned
  • the applicant has completed any of the eligible courses and has been certified by the course provider
  • the applicant must not have received any other form of subsidy or financial assistance for the 80% of the course fees to be reimbursed under the Scheme from any publicly-funded schemes and/or the applicant's employer

For more details about the eligibility, please visit the Eligible Training Programmes page on website of WAM.
 

Application

The application should be submitted to HKSI Institute within FOUR months from the last day of the course completed. The major steps are highlighted as below.

For the details about the application requirements or process, please visit Application for Reimbursement page on the website of WAM.

  1. Enrol in eligible courses
  2. Retain the official receipt (paper or electronic form)
  3. Attend courses and Obtain attendance certificates
  4. Complete online application form and upload required documents (i.e. Bank Proof, Receipt, Attendance Record, signed Employment Certification Form / Company Letter)
  5. Print and sign Section C and Annex A of the application form
  6. Prepare the four supporting documents
  • the certificate of attendance issued by the course provider certifying that the applicant has completed the course to the satisfaction of the course provider;
  • the receipt of the course fee payment issued by the course provider (with name of applicant, name of the course attended and course date); 
  • personal bank account document for direct credit of reimbursement which can be: (Note: The bank account document must clearly show the name of the bank, the account number and the name of the account holder which must be identical to the name shown on the applicant’s Hong Kong Identity Card.)
  • > the front page of bank passbook; or
    > the bank account statement; or 
    > bank debit card; or
    > blank personal cheque.
  • employment certification form / company letter duly signed with company’s chop stamped. 
  1. Submit online application and sent the duly signed Section C and Annex A of the application form and the copy of Hong Kong Identity Card by mail or in person to HKSI Institute

Enquiries

Enquiries on WAM Scheme or application:

Please contact "Hong Kong Securities and Investment Institute (HKSI)"

Address:

17/F, Cambridge House, Taikoo Place,

979 King's Road, Quarry Bay, Hong Kong

Website:

https://www.wamtalent.org.hk

E-mail Address:

training@wamtalent.org.hk

 

Enquiries on HKIB WAM Eligible Training Programmes

Please contact "The Hong Kong Institute of Bankers"

Address:

3/F Guangdong Investment Tower,

148 Connaught Road Central, Hong Kong

Website:

https://www.hkib.org/

E-mail Address:

cs@hkib.org

Hotline:

(852) 2153 7800