TRIPLE E STANDARD The state of Art Mariola Szymańska-Koszczyc Skills Forecasting Seminar by EBTN Brussels, 2017

Beata Choma, Head in the sky Our story EQF 2008 FS EQF Translator 2011 Triple E Standard 2015 Triple E qualifications 2016-2017 Beata Choma, Head in the sky

Triple E: quality standard in qualifications Transparency Key Requirements Validation Consumer protection-Trust-Market Stability

Triple E Standard: flexibility and quality Assembly MANUAL RED PILLAR BLUE PILLAR GREEN PILLAR

TRIPLE E TRIPLET values, body, infrastructure Infrastructure (EQAVET) Institutional accreditation Public information Triple E Qualifications Board European skills and qualifications anticipation 10 values Relevant Transparent Reliable Fair Flexible Efficient LLL Formative Inclusive KnownSupportedApplied Body (EQF, ECVET) Brief Info LOs Units EQF/NQF level Triple E credit points CPD Assessment Validation Updating Accumulation and Transfer of LOs The very first showing of the final composition of three pillars of Triple E standard The body is the inside of the Triple E qualification. It is the representation of the EQF and ECVET quality standards of a professional qualification. Te infrastructure is the environment in which the Triple E qualification should be able to function. It represents the quality recommendations of EQAVET. As ECVET was the priority focus of our project we double checked if our standard does cover the ECVET specifications.

The Triple E standard: Quality delivered TOGETHER Triple E Guidelines (22+13) Blue Pillar Red Pillar Green Pillar Triple E Standard

The power of Triple E: 42 members EBTN Full members 23 countries Associate members 19 countries Open to interested parties

Triple E Standard: the case of MiFID II Competent staff ESMA Guidelines Minimum standards of knowledge and competence Rule of proportionality National Regulators Variety of standards and compliance procedures Investment firms More divergence and in-house interpretation EU Directive: Markets in Financial Instruments Directive II Implementation due: 3 January 2018

Common standards or common divergence Topic areas Descriptive No Learning Outcomes Different forms Qualifications Tests Training course Different levels Unknown Different QA regimes External qualifications External quality assurance In-house No common standards Before MiFID II Common standards of minimum According to MiFID II How do we define common standards

MiFID II/ESMA Guidelines: regulatory arbitrage Institutional level Country level EU level Qualification Test Training Rule of proportionality LEVEL OF REQUIREMENT: ? Country 1 As on EU level Bank 1 In-house training Level: ? Probably +?- EQF 3 Bank 2 In-house qualification Probably+/-EQF 4 Country 2 Bank 3 Level: two levels ? Probably +/- EQF 3 & 4 Country 3 Defined Qualifications 4 groups of employees 4 NQF levels Bank 4 Four external qualifications Levels: EQF 4,5,6 What we put in, we might get out. How do we see the implementation in the cooking

Are the common standards for real? No common standards Before MiFID II Common standards of minimum According to MiFID II Variety of solutions No common measure Under MiFID II !?

Common standards available in EU: building bridges TRIPLE E STANDARD Topic areas EQF: Learning Outcomes Different forms EQF, ECVET Cedefop Dictionary Different levels EQF Different QA regimes EQAVET Common standards

Applications of Triple E: benefits EU Regulatory convergence Effective common standards Mobility as a reality Country level Reinforcement of best practice Avoidance of regulatory arbitrage Easier implementation Institution level Ready made solutions: cost savings Regulatory compliance Quality assurance and transparency Individual level Employability LLL Mobility Triple E Standard

Triple E Standarad: targets and delivery 10 applications 2016 11 applications received Potentially over 60000 certificate holders

Triple E Standard accreditation: current status Qualifications submitted: 14 Accreditations granted: 6 Accreditations underway: 5 Levelling process: 2

Triple E qualifications by now Qualified Financial Advisor Institute of Bankers, Ireland: 14000 EFPA European Financial Advisor European Financial Planning Association, EFPA, Belgium: 39000 Triple E EFCB Hellenic Banking Institute, Greece: 2650 Abiformazione, Italy Warsaw Institute of Banking, Poland Romanian Banking Institute, Romania

Common sectoral standards: extended applications Common language SQF SQF Jobs descriptions Business processes Sets of Learning Outcomes Learning In-house qualifications External qualifications Level 7 Level 7 Level 6 Level 6 Level 5 Level 5 Level 4 Level 4 Level 3 Level 3 Common measure Regulator Customers Market

Triple E qualifications at work: stand out for what they are Measure – Comparability - Transparency www.youthworktoolbox.com

Let’s Triple E. Best and most that we can do TOGETHER Let’s Triple E! Best and most that we can do TOGETHER! office@ebtn-association.eu mszymanska@wib.org.pl