Fund Management - Designated Persons in a Fund Management Company
At a glance
The Professional Certificate for Designated Persons in a Fund Management Company was introduced to support the development of individuals in Designated Person roles, or those who aspire to these roles. It is also relevant to individuals who support Designated Persons and to other professionals in Fund Management Companies.
For people who are interested in......
• The Professional Certificate for Designated Persons in a Fund Management Company has been carefully designed to equip professionals in the funds industry with the necessary competence to fill DP roles and is the only accredited qualification at this level.
• This certificate has been designed in consultation with our Funds Advisory Board, Irish Funds and a variety of industry experts.
How you will benefit
The programme will support your personal and professional development in taking on senior roles in the fund management industry. It will:
• Enhance your knowledge and skills; and
• Equip you with the competencies necessary to take on a DP position, or to support a DP
The programme will acheive these objectives by:
• Ensuring that you have a full understanding of the legal and regulatory obligations including the Central Bank expectations in this area;
• Guide you on how you can develop a "DP mindset";
• Provide you with a good understanding of the various conflicts that can arise from multiple sources and situations and how these can be addressed, with a strong focus on the practicalities of challenge in different situations and different DP roles;
• Equip you to engage successfully with boards and with the Central Bank.
The Central Bank of Ireland
• The Central Bank of Ireland requires that a Fund Management Company or self-managed fund ("Fund ManCo"), which delegates activities, must appoint a number of Designated Persons to carry out prescribed managerial functions. Designated Persons (DPs) are the individuals who are responsible for monitoring and overseeing the managerial function assigned to them. DP roles are Pre-Approval Controlled Functions (PCFs) under the Central Bank's Fitness and Probity regime.
• According to Central Bank guidance, Designated Persons (DPs) are a Fund ManCo's line of management that lies between the board of directors and delegates. In that sense they can be regarded as the senior leadership team or an integral part of the Fund ManCos Senior Leadership Team.
• There are six managerial functions and the related PCFs are as follows: Capital and Financial Management (PCF-39A); Operational Risk Management (PCF-39B); Fund Risk Management (PCF-39C); Investment Management (PCF-39D); Distribution (PCF-39E); and Regulatory Compliance (PCF-39F).
Subjects taught
Designated Persons in a Fund Management Company - (NFQ level 9, 10 ECTS)
You study one module which carries 10 ECTS (academic credits). The course of study will focus on each of the following areas:
• Legal and Regulatory Requirements
• The DP Appointment Process
• The DP mindset - constructive challenge
• Conflicts management
• Engagement with the board including the board of funds under management and with the Central Bank of Ireland.
Entry requirements
Requirements
The minimum entry requirements to the Professional Certificate for Designated Persons in a Fund Management Company are as follows:
• An Honours degree (min. 2.2 L8 NFQ) in business or in a related cognate discipline
or
• Applicants who do not hold a primary degree but have relevant work experience at a middle or senior management level are eligible to apply, and will be considered on a case-by-case basis.
Professional body membership
You must be a current member of IOB, or become a member, to undertake this programme.
Duration
Duration: 1 trimester
Delivery is online.