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Questions and Answers
What are Role Based Certifications (RBCs)?
Certifications introduced to equip staff with knowledge and skills for challenges in the Banking Industry.
When were Role Based Certifications (RBCs) introduced?
Vigilance is not important in the financial sector.
False
Who stated that 'The condition upon which God hath given liberty to man is eternal vigilance'?
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According to the dictionary, how is vigilance defined?
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What is one function of the vigilance officers?
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The vigilance function should work on the ______ and participative aspects to enhance governance.
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Study Notes
Introduction
- Role Based Certifications (RBCs) introduced in 2018 to equip staff with skills for banking challenges
- Concept widely praised, providing focused understanding of roles and required skills
- RBCs increased with the demand of the time
- Manuals, training and evaluation methods have been changed based on participant and associated feedback
- Access to materials has been improved with the introduction of share point, including videos, quizzes and other materials
- Chapters include learning objectives, recap questions and sample caselets for better understanding and real-life application
Vigilance
- Importance of vigilance is emphasized in the quote of John Philpot Curran: "The condition upon which God hath given liberty to man is eternal vigilance."
- Pearl S. Buck reinforces the importance of vigilance: "When good people in any country cease their vigilance and struggle, then evil men prevail."
- Vigilance defined as being watchful and wary to detect danger
- Vigilance is especially critical in the financial sector, particularly for institutions like banks dealing with public money
- Vigilance addresses both financial and non-financial aspects
- Efficient public service delivery and public funds utilization depend on efficient governance, which requires a responsive accountability regime
- Vigilance officers are responsible for promoting a culture of accountability and probity, emphasizing preventive and participative aspects rather than solely punitive ones
- An impartial and adept vigilance function can also enhance the organization's reputation and standing
Role of Vigilance Department
- Complimentary to organizational objectives
- Focuses on preventing corruption and promoting integrity
- Ensures efficient use of public funds
- Works with other departments to identify and mitigate risks
- Helps maintain a culture of accountability and transparency
Abbreviations
- ACB: Anti-Corruption Bureau
- ABBFF: Advisory Board for Banking and Financial Frauds
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Description
Explore the essential concepts of Role Based Certifications introduced in banking, focusing on their evolution and significance since 2018. Learn about the importance of vigilance through impactful quotes and the definition of being watchful for potential dangers. This quiz will test your knowledge on both RBCs and the key concepts of vigilance.
