Frequently asked questions

What is a Designation?

A professional designation is a recognition of educational achievement and professional standing. A badge of excellence, it is an endorsement of academic qualifications, professional knowledge and experience.

What is CPD?

CPD is any process or activity of a planned nature, that provides added value to the capability of the professional through the increase in knowledge skills and personal qualities necessary for the execution of professional and technical duties, often termed competence. It is a life-long tool that benefits the professional, client, employer, professional association and society and is particularly relevant during periods of rapid technological and occupational change.

How do I know if I am eligible for Membership of the Accredited Funds Professional CPD Scheme?

The Accredited Funds Professional CPD scheme is open to those who:

• Successfully complete the Professional Certificate in International Investment Fund Services (or holders of the previously named Professional Certificate in Mutual Funds / Professional Certificate in Investment Fund Services); or

• Successfully complete the financial services elective of the Final Admitting Exams (FAEs) for Chartered Accountants, you will need to provide evidence of qualification with your application form; or

• Have at least four years’ minimum relevant work experience in the funds industry, whereby your employer shall provide confirmation of experience which meet the programme competencies as set out in the application form.

I have received my ratified result transcript confirming that I passed my exams and have been awarded the Professional Certificate in International Investment Funds. When will my designation become active?

An invitation to apply for your new designation will be sent to you usually within 5 working days after receiving your ratified results. The invitation will usually be sent to you through My Institute and it will detail how you apply for your designation.

During what period can I apply for the designation based on my industry experience

The experiential route to designation will be open for a period of 12 months from the launch date.

When I am applying through the experiential route who will I contact to clarify any questions I have?

Please contact [email protected] or [email protected]

What is the designation fee?

The annual designation fee is €155, in addition to IOB membership fee which is €40.

If the fee(s) are being covered by your employer under an agreed Fee Payment Facility * IOB will invoice your employer for the relevant fee(s). Otherwise, we will contact you for payment when your form is ready for processing.

* Some corporate members have an arrangement to pay the annual fee(s) directly to IOB by group invoice. Please check with your HR/training department to check if they have an agreement in place.

What does the designation fee cover?

The designation fee covers the services and supports provided to members of a CPD scheme.

What supports are available to help me manage my CPD commitment?

• Online record- to track, record and manage CPD hours and events

• Access to online CPD modules via eCPD in My Institute

• IOB seminars and webinars on topical subjects

• Accreditation of in-company and external events for CPD hours

Do I have to pay BIK on my fee?

Please check with your HR department.

How many hours do I need to complete by 31 December 2020?

The requirement is Ten CPD hours where five CPD hours are relevant to Specialist Content and at least one CPD hour each year must relate to ethics.

How do I get a course or event my company or the industry is running accredited for CPD hours?

If you want to have an external event/course accredited for CPD hours you will need to submit the online CPD Accreditation Request form https://iob.ie/accreditation

Accreditation requests can take up to 15 working days to review. During our busy periods this can take longer. Events must be re-accredited each year. For further instruction please see https://iob.ie/info/cpd

I have submitted my   designation application form. When will this be processed?

Applications for designations will be processed within 10 working days of receipt of your application form. Once it is processed you will receive a Welcome Letter in the Correspondence Section of My Institute.

How do I access my eCPD modules?

When you click on your designation in My Institute, this will bring you to the CPD section. The eCPD modules relevant to you will appear under My eCPD Click on any of the eCPD cards  and this will launch your eCPD module.

How do I make an annual return and by when do I need to make it?

Members must make their annual return by 31 January each year. All required hours must be completed by 31 December. Hours completed in January will count for that year rather than the previous year, for example, the annual return submitted by 31 January 2021 must detail CPD hours undertaken in the calendar year 1 January 2020 to 31 December 2020.

To make an annual return log into My Institute, click on your designation, the Annual Return heading will appear on the right-hand side. Please note that this will only appear when the Annual Returns are open.

If you hold more than one designation with IOB you must make a separate annual return for each designation. We will contact you via email and text when the annual returns process opens. A letter will also be posted to the Correspondence Section in My Institute.

If I do not have enough CPD hours completed should I still make my annual return?

Yes. If you have a shortfall in hours you are still required to make an annual return. Following the closing of the annual returns process we will contact you in relation to the shortfall.

What is the minimum and maximum duration that can count towards my CPD?

The minimum unit of time recognised and accredited for CPD purposes is a half hour. The maximum number of hours that will be accredited for any single event/activity/topic is three hours. The maximum number of hours that will be accredited for any single online course/module is two hours. Time spent actively involved in a CPD activity will count and can include question and answer time, case studies and tests/exams etc. Time spent travelling to an event, registration time, coffee/lunch breaks, social time etc. will not count.