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Empower Your Finance Career with IBF-STS Coding Courses

by | Feb 22, 2024

Introduction

In the rapidly evolving finance sector, continuous professional development is not just beneficial; it’s necessary. Staying ahead in a field as dynamic as finance requires a commitment to ongoing learning and skill enhancement. Recognising this need, the Institute of Banking and Finance (IBF) Standards Training Scheme (STS) offers a pathway for professionals to elevate their capabilities. This blog explores how IBF STS coding courses serve as a cornerstone for those looking to advance their finance careers and the available subsidies. 

Overview of IBF-STS Coding Courses

IBF-STS coding courses are professional development programmes recognised for their alignment with the standards set by the Institute of Banking and Finance. These courses are specifically designed to upgrade the skills of professionals in the financial sector, ensuring they remain at the forefront of industry demands and technological advancements.

At Heicoders Academy, an institute dedicated to advancing tech education in Singapore, we offer a curated selection of these IBF-STS accredited courses. Our offerings in Python programming, data analytics, machine learning, and web development provide finance professionals with a comprehensive learning path to acquire the critical skills required to navigate and succeed in today’s digital economy as well as future innovation within the financial sector.

AI100: Python Programming and Data Visualisation

The AI100 course introduces beginners with no programming background to data analysis and visualisation using Python, emphasising its application in finance. This online course, spanning eight lessons of three hours each on Zoom, is tailored for finance professionals aiming to leverage data insights in their work. Participants will learn to analyse and visualise data, a vital skill for informed decision-making.

The course, part of the AI and DA Nanodegrees, is accessible with IBF, SkillsFuture, and UTAP subsidies, reducing fees to as low as $720 for eligible Singaporeans. Led by an experienced instructor and supported by teaching assistants, the course offers personalised learning, ensuring no prior experience is needed.

  • Learning Objective:¬†Build a solid Python foundation, master data analytics and visualisation, and apply skills in real-world scenarios.
  • Level of Expertise Required:¬†Beginner
  • Fees:¬†SGD 936 for Singaporeans aged 40+ (70%¬†IBF Subsidy); SGD 1,416 for Singaporeans <40 and all PRs (50%¬†Subsidy); SGD 1,656 for non-Singapore Citizens and non-PRs (40%¬†Subsidy). Additional UTAP support available for eligible NTUC members.
  • Duration:¬†8 lessons, 3 hours each
  • Course Highlights:
    • Python Syntax & Data Structures:¬†Master Python programming basics, setting a solid foundation for further learning.
    • Data Manipulation with Pandas:¬†Learn to clean and manipulate data effectively using Pandas.
    • Data Visualisation:¬†Gain skills in presenting data visually to support insightful decision-making.

AI200: Applied Machine Learning

The AI200 course demystifies machine learning basics, equipping participants with the skills to employ machine learning models to make micro-decisions for companies to improve business outcomes. Conducted online, it consists of eight sessions lasting three hours each, delivered via Zoom. Designed for those intrigued by technology and problem-solving, this course encourages practical learning through real-world projects.

Included in both AI and DA Nanodegrees, AI200 is notable for its beginner-friendly yet industry-relevant approach. Prerequisites are minimal, requiring only a basic understanding of Python. With IBF, SkillsFuture, and UTAP subsidies, course fees can be reduced to $720 for qualifying Singaporeans. An expert instructor, aided by one to two teaching assistants, ensures a supportive learning environment, making advanced technology skills accessible to all.

  • Learning Objective:¬†Gain a thorough understanding of Machine Learning principles, apply practical data analysis techniques, and develop critical thinking skills for creative problem-solving in various sectors.
  • Level of Expertise Required:¬†Beginner
  • Fees:¬†SGD 936 for Singaporeans aged 40 and above (70%¬†IBF Subsidy); SGD 1,416 for Singaporeans below 40 and all PRs (50%¬†Subsidy); SGD 1,656 for non-Singapore Citizens and non-PRs (40%¬†Subsidy). Additional UTAP support available for eligible NTUC members.
  • Duration:¬†8 lessons, 3 hours each
  • Course Highlights:
    • Data Transformation and EDA with Pandas:¬†Learn how to prepare and analyse data effectively.
    • Supervised Learning with Regression:¬†Master techniques for predictive modelling.
    • Feature Engineering with Pandas:¬†Enhance your data features for improved machine learning models.

DA100: Data Analytics with SQL and Tableau

The DA100 course opens the gateway to data analytics for beginners, offering the essential tools of Structured Query Language (SQL) and Tableau to unveil insights from data. This seven-session data analytics course, accessible through Zoom, is ideal for professionals across various sectors aiming to enhance their decision-making capabilities with data analytics.

Part of the DA Nanodegree, DA100 transcends technical skill acquisition, positioning data analytics as a transformative skill for anyone in today’s data-centric environment. With IBF, SkillsFuture, and UTAP subsidies, the course becomes highly accessible, reducing fees to as low as $630 for eligible Singaporeans. Led by an experienced instructor and supported by teaching assistants, DA100 fosters proficiency in data dashboard creation in Tableau and empowers participants to navigate and lead in the data-driven world.

  • Learning Objective:¬†Equip students with foundational skills in data analytics, SQL, and Tableau, enabling them to effectively manage, visualise, and apply data in real-world fintech scenarios.
  • Level of Expertise Required:¬†Beginner
  • Fees:¬†SGD 819 for Singaporeans aged 40 and above (70%¬†IBF Subsidy); SGD 1,239 for Singaporeans below 40 and all PRs (50%¬†Subsidy); SGD 1,449 for non-Singapore Citizens and non-PRs (40%¬†Subsidy). Additional UTAP support for eligible NTUC members.
  • Duration:¬†7 lessons, 3 hours each
  • Course Highlights:
    • SQL Database Skills:¬†Learn from the basics to advanced database management.
    • Tableau for Visualisation:¬†Gain the ability to create interactive data visualisations.
    • Capstone Project:¬†Apply your skills in a practical project that addresses real-world data problems.

SE100: Responsive Web Development

The SE100 course equips participants with the fundamental skills required in software engineering, catering to a growing demand across various industries. This beginner-friendly course, requiring no prior background, is structured over ten online sessions via Zoom, each lasting three hours, and is an integral part of the SE Nanodegree.

As digital technology becomes increasingly embedded in our daily lives and workspaces, the ability to develop software is becoming an essential skill. SE100 introduces coding and application development, enabling participants to tackle real-world problems, optimise tasks, and enhance digital experiences across sectors.

With IBF, SkillsFuture, and UTAP subsidies, course fees are significantly reduced, starting at $720 for eligible Singaporeans. An experienced instructor, supported by one to two teaching assistants, guides participants through the curriculum, ensuring personalised attention. This course prepares learners for diverse career paths in digital and traditional sectors and future-proofs their skills in the tech-driven landscape.

  • Learning Objective:¬†Equip learners with essential skills in software development, covering web technologies, application development, and software testing methodologies.
  • Level of Expertise Required:¬†Beginner
  • Fees:¬†SGD 936 for Singaporeans aged 40 and above (70%¬†IBF Subsidy); SGD 1,416 for Singaporeans below 40 and all PRs (50%¬†Subsidy); SGD 1,656 for non-Singapore Citizens and non-PRs (40%¬†Subsidy). Additional UTAP support available for eligible NTUC members..
  • Duration:¬†8 lessons, 3 hours each
  • Course Highlights:
    • Web Technologies:¬†Gain a solid grounding in HTML, CSS, and JavaScript for front-end development.
    • Application Development:¬†Learn to build dynamic web applications using Node.js and Express.js.
    • Software Testing:¬†Master software testing and version control for maintaining high-quality software solutions.

Understanding the IBF-STS Subsidy

The IBFSTS subsidy is a financial support mechanism designed to encourage and facilitate the upskilling of professionals within Singapore’s financial sector. By offering up to 70% funding for accredited training and assessment courses, it aims to elevate the proficiency of the workforce. Focused on programmes recognised under the Skills Framework for Financial Services, IBFSTS ensures that learning opportunities are both high in quality and directly relevant to the industry’s evolving demands. The objective is to equip finance professionals with the necessary skills to adapt and thrive, thereby reinforcing Singapore’s standing as a global financial leader. This alignment accentuates the commitment to fostering a continuously learning and dynamically skilled financial workforce, crucial for the sector’s ongoing growth and innovation.

IBF-STS Funding Details

Effective 1 January 2022, changes to the IBF-STS funding include a reduction in the percentage of covered costs. Previously at 90% and 70%, the support levels will now be 70% and 50%.

Eligibility

Courses¬†commencing between 1 July 2022 ‚Äď 31 Dec 2022

Courses commencing from 1 Jan 2023

Singapore Citizens and PRs

70% funding, capped at S$7,000 per participant

50% funding, capped at S$3,000 per participant

Singapore Citizens aged 40 and above

90% funding, capped at S$7,000 per participant

70% funding, capped at S$3,000 per participant

Starting on 3 October 2022, the IBF-STS funding structure will be streamlined. GST will not be covered under the funding.

Category

Details

Self-Sponsored Individuals

Only for Critical Core and Future-Enabled skills courses. Must be employed in the financial sector by certified institutions. GST not covered.

All Individuals

Funding support available only once per calendar year per participant.

 

Eligibility Criteria for IBF-STS Subsidy

The IBF-STS course subsidy caters to both self-sponsored and company-sponsored individuals, enhancing its reach within the financial sector.

Eligible individuals include Singapore Citizens or Singapore Permanent Residents who are physically based in Singapore and have completed an IBF-STS accredited course, including passing all relevant assessments and examinations.

Eligible companies encompass Singapore-based financial institutions regulated by the Monetary Authority of Singapore (MAS), whether licensed or exempt from licensing by MAS, and FinTech firms certified by the Singapore FinTech Association (SFA), ensuring that the subsidy supports organisations at the forefront of financial innovation and regulation.

How to Apply for the IBF-STS Subsidy

To apply for the IBF-STS subsidy, follow these step-by-step guidelines:

  1. Select an Eligible Course: Begin by choosing an IBF-STS accredited course that matches your professional development goals, like those available at Heicoders Academy. You can find IBF-STSsupported courses via the IBF portal.
  2. Verify Eligibility: Ensure you meet the eligibility criteria as a Singapore Citizen, Permanent Resident, or part of an eligible organisation within the financial sector.
  3. Register via the Course Provider’s Website: Register for the course via the course provider’s website. For instance, you can apply for the course via our registration page. The course provider will then submit the IBF claims on your behalf to IBF.

Please note that the application process and required documentation may vary slightly based on specific course requirements and any IBF policy updates. Always refer to the latest information on the IBF website or contact Heicoders Academy for the most current guidance.

Combining IBF-STS Funding with Other Subsidies 

Certain¬†IBF-accredited¬†courses¬†qualify for additional subsidies beyond the standard¬†IBF-STS funding. Here’s how you can combine these financial aids to reduce your course expenses further:

SkillsFuture Credits:¬†If you’re a Singaporean aged 25 or older, you can apply your SkillsFuture Credits to cover the remaining fees post-IBF subsidy. This means that if your¬†course¬†is eligible, you can potentially enrol without paying any out-of-pocket cash. Just ensure you have sufficient SkillsFuture Credits to cover the residual amount.

NTUC UTAP: Members of NTUC are eligible to use the Union Training Assistance Programme (UTAP) to cover 50% of the remaining fees after other subsidies, up to a maximum of S$250 annually. This can significantly lower your financial burden when pursuing career-enhancing courses.

Make sure to check your eligibility and plan accordingly to maximise these benefits, empowering you to advance your skills without straining your finances. For more details, explore the specific guidelines on using SkillsFuture Credits and UTAP in conjunction with IBF funding.

Selecting the Right Course for Your Career Goals

When choosing an IBF-STS course at Heicoders Academy, consider your career objectives and the specific skills you aim to acquire. For individuals looking to delve into data analytics for financial insights or those interested in web development to craft finance-focused applications, aligning your choice with personal aspirations and industry demands is crucial. These courses bridge skill gaps, ensuring you gain relevant, practical knowledge. By evaluating your career path and the competencies required to advance or pivot successfully, you can select a course that fulfils your immediate learning needs and contributes significantly to your professional growth and skill enhancement.

Advance Your Finance Career 

Utilising the IBF-STS for professional development through Heicoders Academy broadens your skillset and strategically positions you for success in the dynamic finance sector. We encourage you to seize this opportunity to elevate your career with our comprehensive IBFSTS coding courses designed to meet the evolving needs of finance professionals. These courses offer a pathway to career advancement, enabling you to stay competitive and relevant in the industry. For more details on our course offerings or to enrol, please visit our website or contact us directly at +65 8801 9333.

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