The Financial System: Stability for Growth

6–8 June 2018, ST. PETERSBURG



    The Bank of Russia and the Council for Professional Qualifications of the Financial Market signed a cooperation agreement on July 14, 2017 at the International Financial Congress in St. Petersburg.

    The Council for Professional Qualifications of the Financial Market is the core organization of the Council for Professional Qualifications accordance with the decision of the National Council for Professional Qualifications under the President of the Russian Federation (established by Decree No. 249 of the President of the Russian Federation dated April 16, 2014).

    The agreement was signed on behalf of the Bank of Russia by First Deputy Chairman Sergei Shvetsov and on behalf of the Association by Chairman of the Board Alexander Murychev.

    The agreement will function in accordance with Federal Law No. 238-FZ dated July 3, 2016 “On Independent Qualification Assessment”, which provides for the transition to the system of independent assessment of qualifications by July 1, 2019 if no other procedure is envisaged by the current regulatory legal framework.

    The parties agreed to cooperate in the following areas:

    – organizing a system for the development, examination, and implementation of qualification requirements and evaluation tools on the financial market;

    – evaluation and assignment of professional qualifications;

    – analysis of the legislation of the Russian Federation and non-regulatory legal acts concerning qualification assessment in order to harmonize the system of professional qualifications in the Russian Federation and the financial market professional certification system;

    – analysis of the current state of the education system and training of employees of financial organizations in order to come up with recommendations on ways to improve the efficiency of the professional qualifications system in the financial sector;

    – conducting research on the functioning of the professional qualifications system in the financial sector, introducing their results, and developing practical recommendations on ways to improve the efficiency of the professional qualifications system in the financial sector;

    – development and updating vocational education standards as well as basic professional educational programmes and additional professional programmes taking into account the professional standards that have been adopted;

    – development and introduction of a hierarchically ordered classification of types of labour activities that is prepared according to industry-relevant indicators (sectoral qualification framework);

    – development and introduction of the concept of lifelong learning;

    – professional and public accreditation of specialized educational programmes and universities.