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Funds by IOB: A Year in Review  (July 2022 to June 2023)

Accredited programmes

The Professional Certificate for Designated Persons in a Fund Management Company, launched in July 2021, had another successful year and four cohorts have now completed the programme. Designed to support the development of individuals in Designated Person roles, or those who aspire to these roles, it is also very relevant to individuals who support Designated Persons and to other professionals in Fund Management Companies or Fund Service Providers. IOB were delighted to host a second event for alumni of the programme on 10th May 2023, where alumni had the opportunity to meet colleagues and hear from James O’Sullivan of the Central Bank on current regulatory topics. IOB hopes to host similar events, at least annually, and we look forward to meeting the next group of students for this programme in October. Graduates of the programme are eligible to become Accredited Funds Professionals.

IOB were particularly pleased to launch the Professional Certificate in Capital Markets, Investments and Funds which, like the Professional Certificate for Designated Persons, is a one module programme at level 9 on the NFQ. This programme is designed to deepen knowledge of the drivers of performance of capital markets and of capital market products, the settlement and trade life cycles, regulations, and the importance of risk management and operational robustness in the fund management sector. We are encouraged by the very positive feedback from participants of the first delivery of the programme.

Both programmes, together with the flagship Professional Certificate in International Investment Fund Services, which is an important programme for those entering the industry, and two programmes related to complex instruments and alternative investments, IOB have a broad portfolio of accredited programmes available for the funds industry. Details of all our programmes, including those which are of relevance to all financial sectors, including data & analytics and sustainable finance are available in the IOB prospectus.

Masterclasses and Events

Funds by IOB provide a suite of masterclasses related to funds and asset management, particularly to address the more technical aspects of the managerial functions, as defined by the Central Bank in the context of Fund Management Companies and AIFMs. The aim of each masterclass is to determine and develop best practice standards in the area of focus. The masterclass on fund distribution was delivered in October followed by Risk Functions which was delivered through Q1 2023.

All IOB members, including Accredited Fund Professionals, were invited to a series of events throughout the year, including the recent CPD bootcamps focussed on Ethics and GDPR. Others included:

Supervising Funds – An update from the Central Bank

John Canny of the Central Bank updated on supervisory issues in the funds’ world and Paula Kelleher, a member of the Funds Advisory Board spoke of how INEDs can ensure they are equipped to oversee the management of the assets in their funds.

Aftershocks – Seeking Economic Stability

Carl Tannenbaum, Chief Economist, Northern Trust discussed how the world has faced a series of challenges over the past three years: a pandemic, war in Ukraine, and (most recently) a bout of financial instability. 

Preparing for SEAR

Dr Margaret Cullen, Academic Director of the IOB Certified Bank Director programme and Josh Hogan and Donal Hamilton from McCann FitzGerald addressed the forthcoming Individual Accountability Regime, with a particular focus on the Senior Executive Accountability Framework.

Managing For Uncertainty - Financial Markets Outlook 2023

Kevin Mc Connell, CFA provided a presentation that looked at the key drivers for asset performance in 2022, the energy crisis, the interest rate environment, how the global economy is changing and outlook for the funds industry and overall capital markets in 2023.

Behind the scenes of AML

Stephen Hudson, Director of Financial Crime Compliance at Grant Thornton delivered an online webinar bring to life the reality of Anti-Money Laundering discussing the true stories behind headline news and case studies.