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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 promote talent training for the asset and wealth management (WAM) sector” 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 2023. 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 Credit Management for Certified Bankers

  1. Bank Lending
  2. Credit Risk Management

Postgraduate Diploma in Treasury Management for Certified Bankers

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

Postgraduate Diploma in Operations Management for Certified Bankers

  1. Banking Law and Practice
  2. Operational Risk Management

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

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)

 Certified Private Wealth Professional (CPWP) Module 2 – Ethics and Compliance
  1. Regulatory Regime in Hong Kong and Requirement on Sale of Investment Products
  1. Relevant Laws and Regulations relating to Client Engagement and Relationship Building
  2. Ethics and Practical Application of Legal and Regulatory Requirements for Private Banking
  3. 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 Eligibility 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. Obtain attendance certificate
  4. Complete online application form via online application portal with an unique system-generated application number for referencing
  5. Print and sign the application form
  6. Prepare the five supporting documents
  • a copy of the applicant's Hong Kong Identity Card;
  • a copy of the certificate issued by the course provider certifying that the applicant has completed the course to the satisfaction of the provider; 
  • the original receipt of the course fee payment issued by the course provider (with name of applicant, name of the course attended and course date);
  • a documentation of the personal bank account for direct credit of reimbursement in the form of: 
    > a copy of the front page of bank passbook; or
    > copy of the bank account statement; or 
    > copy of a bank debit card; or
    > a copy of blank personal cheque.
  • for in-service practitioners currently under employment, an original company letter issued by or an employment certification form ("Form") endorsed by the applicant's employer, with an authorised signature duly signed and the employer's company chop stamped. 
  1. Submit application by mail or in person to HKSI Institute's office

Enquiries

Enquiries on WAM Scheme or application:

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

Address:

Room 510, 5/F, Wing On Centre, 111 Connaught Road Central, Hong Kong

Website:

https://www.wamtalent.org.hk

E-mail Address:

info@wamtalent.org.hk

Hotline:

(852) 3120 6100

 

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

Opening hours:

Mondays to Fridays

9:00 a.m. – 6:00 p.m.

Saturday, Sunday & Public Holiday: Closed

Website:

https://www.hkib.org/

E-mail Address:

cs@hkib.org

Hotline:

(852) 2153 7800