1. The European Qualification Framework
European Qualifications Framework (EQF)
and National Qualifications Framework (NQF)
30th of September, 2010
ASB – Association of Serbian Banks
Belgrade
Mario Spatafora
EBTN President
1st February st July 2011

2. European Qualifications Framework
What is the EQF?
Recommendation
of the European Parlamient
and of the Council
23 April 2008
on the establishment of the
European Qualifications Framework
for lifelong learning E
uropean Q
ualification
ramework F

3. The EQF Political process
22 April 2008 – EQF Recommendation of the European Parliament and
the European Council
2010 – Countries invited to refere national qualifications levels to the EQF
2012 – Countries invited to introduce reference to EQF in certificates and diplomas

4. K.S.C. Learning Outcomes EQF INFORMAL LEARNING NON FORMAL LEARNING

5. Learning Outcomes - KSC
The outcome of the assimilation of information throught learning.
Knowledge
The ability to apply knowledge and use know-how t0 complete tasks and solve problems.
Skills
The proven ability to use knowledge, skills and personal development.
Competence

6. Formal Non-formal Informal Learning
occurring in an organized and structured environment
Formal
intentional with structured objectives, time and support
Non-formal
resulting from daily activities related mainly to work
Informal

7. The European Qualification Framework
Translation grid for all Qualifications
throughout Europe
Supports cross-border mobility
Facilitates Lifelong Learning
Enables linking
Qualifications of different Institutions

8. Qualification Formal outcome
of an assessment and validation process which is obtained
when a Competent Body determines
that an Individual
has achieved learning outcomes
to given standards
RECOMMENDATION OF THE EUROPEAN PARLIAMENT
AND OF THE COUNCIL of 23 April 2008

9. 8 EQF Levels Knowledge Skills Competences EACH EQF REFERENCE LEVEL
Each of the 8 levels is defined
by a set of Descriptors – K.S.C.
indicating the Learning Outcomes
relevant to Qualifications

10. 8 EQF LEVELS

11. 8 EQF LEVELS

12. 1st February st July 2011

13. Partnership: 9 European Partners
Pr. Coordinator
Applicant
Scientific Coord.
Evaluator

14. 8 Relay Partners: Belgium: FEBELFIN ACADEMY
Hungary: International Training Centre for Bankers
Italy: ABIFormazione
Italy: BNL-BNP PARIBAS
Italy: UNIVERSITY OF ROMA3
Slovenia: Bank Association of Slovenia
Spain: Institute of Financial Studies
The Netherlands: NIBE-SVV

15. Aims: Creating a tailor made EQF version for the FSS.
Enhancing transparency, recognition of
professional qualifications
and certificates in FSS.
Fostering the mobility of professionals in FSS
by defining practical and meaningful EQF Translators.
Turning the EQF and the Level Descriptors
into a familiar and user friendly reference framework
for the community.

16. MAIN FSS DIFFERENTIATORS
Legal and regulatory framework, including ethics/ corporate governance
Risk/return orientation
Knowledge of financial intermediation
Knowledge of financial markets, including macro and microeconomics
CRM – Customer Relationship Management
Competitiveness/entrepreneurship

17. Classification of Learning Objectives within education
BLOOM’S TAXONOMY
Classification of Learning Objectives within education
6 LEVELS

18. THE VERB HIERARCY Learning Objective Verbs Used Definition 1 Knowledge
What you are expected to know
LIST
STATE
DEFINE
Make a list of
Express, fully or clearly, the details of
Facts of give the exact meaning of
2 Comprehension
What you are expected to understand
DESCRIBE
DISTINGUISH
EXPLAIN
IDENTIFY
ILLUSTRATE
Communicate the key features of
Highlight the differences
Make clear or intelligible
Recognise, estabilish or select after consideration
Use an example to describe or explain something

19. THE VERB HIERARCY Learning Objective Verbs Used Definition
3 Application
How you are expected to apply your knowledge
APPLY
CALCULATE/COMPUTE
DEMONSTRATE
PREPARE
RECONCILE
SOLVE
TABULATE
Put to pratical use
Ascertain or reckon mathematically
Prove with certainly or to exhibit by practical means
Make or get ready for use
Make or prove consistent/compatible
Find an answer to
Arrange in a table

20. THE VERB HIERARCY Learning Objective Verbs Used Definition 4 Analysis
How you are expected to analyse the detail of what you have learned
ANALYSE
CATEGORISE
COMPARE/CONTRAST
CONSTRUCT
DISCUSS
INTERPRET
PRODUCE
Examine in detail the structure
Place into a defined class or division
Show the similarities and/or differences between
Build up or compile
Examine in detail by argument
Translate into intelligible or familiar termis
Create or bring into existence
5 Evaluation
How you are expected to use your learning to evaluate, make decision or recommendations
ADVICE
EVALUATE
RECOMMEND
Counsel, inform or notify
Apprais or assess the value of
Advise on a course of action

21. 8 EQF Level Descriptors EQF Translators
Translated into a commonly used
language easy to be applied
in the FSS

22. FIRST EQF Translator (draft)
Knowledge - Level 3
Skills - Level 3
Competences - Level 3
Can explain the bank’s role in financial intermediation process
Can describe the key elements of the regulatory, legal and compliance framework applicable to the financial services industry, including code of ethics.
Can describe key features of core financial products and services
Has awareness of risk and understanding of how it influences his/her performance on the job
Can assess clients’ basic financial needs and relate them to banking products and services
Is able to act respecting the risk profile of products and services adopted by the organisation
Can deliver financial services according to relevant legal, regulatory and procedural provisions
Can find and apply legal and regulatory information based on precise instruction
Shows integrity to comply with adopted rules and procedures
Shows awareness of risk factors and understanding of how our performance is affected by risk factors
Adapts professional behaviour to the requirements of financial services in a supervised context
Exhibits client centric orientation

23. FIRST EQF Translator (draft)
Knowledge – Level 4
Skills - Level 4
Competences - Level 4
Can explain the key drivers of the economy and the role of the financial intermediation process
Can identify a broad range of financial products and services offered by own/other financial organisations
Can explain types costumer segmentation of clients, their life circles and resultant financial needs:
Can explain the FS business processes, practices and the related regulatory, legal and corporate governance requirements
Can identify fundamental risks, risk management principles and processes and explain his/her position within the process
Can generate and communicate solutions compliant with risk profile of products and services established by the organisation and the legal and regulatory requirements binding for the organisation
Can perform a comprehensive needs analysis of retail and SME clients and translate those into adequate banking products and services
Takes responsibility for being compliant and effective within the boundaries of his/her job
Demonstrates autonomy in applying relevant financial markets information to his/her own specific activity
Takes responsibility, within regulatory requirements, to meet retail and SME clients’ financial needs, without direct supervision
Shows ability to capture problems and inefficiencies in his/her work environment and can come up with a solution

24. FIRST EQF Translator (draft)
Knowledge – Level 5
Skills – Level 5
Competences – Level 5
Can illustrate explain how the financial intermediation process operates within the economy, using professional terminology
Can clearly explain a broad range of banking products and services for retail and corporate clients and relate them to their needs, using professional terminology
Can provide a professional explanation of FS business processes and best practices and their relevance to his/er role
Can identify and illustrate laws, regulations and procedures relevant to his/her role
Can clearly explain risks and risk management techniques relevant to a given professional role, using professional terminology
Knows recognises situation supporting information and advice
Can advise clients on best solutions to their financial needs, based on a wide range of financial products and financial structures
Can develop new, creative propositions for clients and the organisation which respect the agreed boundaries of risk
Can analyse complex sets of indicators and interpret scenario that effect his/her propositions for the organisation and the clients
Can identify, critically analyse and recommend how to act in accordance with legal principles and regulatory requirements.
Can effectively seek and obtain external information and advice, when needed
Takes initiative, within regulatory framework, to meet clients’ most complex financial needs, without direct supervision
Takes initiative and responsibility for being on track with changing macro and micro environment
Is committed to deliver the agreed risk/return ratio in the organisation
Encourages ethical behaviour among his/her team

25. FIRST EQF Translator (draft)
Knowledge - Level 6
Skills – Level 6
Competences – Level 6
Can professionally explain in depht how the economy, how the economy, the financial sector and a financial institution operates, from a business perspective
Can professionally explain advanced, integrated issues related the legal and regulatory environment, risk management and micro economic factors that affect business activities and processes
Can recognize the links between local business environment to international markets and global economy
Demonstrates mastery and innovation required to develop new formats for solutions to clients’ complex financial needs or to develop procedures, tools and systems that help the organisation come up with good solutions for the client
Is able to anticipate upcoming changes to regulatory environment. so that adequate solutions, sometimes innovative, are ready when needed
Can design innovative solutions to come up with products and services that optimise the risk/return ratio for the organisation
Takes responsibility and initiative to cope with complex, unpredictable regulatory change
Takes initiative to propose improvements in risk/return structures for products, services and operations
Can manage others to be compliant and act ethically

26. Towards National Qualifications Frameworks
EQF: Reference Framework for
all National Qualifications Systems:
EU Countries
are now developing
NQFs in response to the EQF

27. The role of national Authorities in applying the EQF
Commitments to link national qualifications to EQF
Long term reform process
Clear link between NQF and EQF levels
National Framework of Qualification
Learning outcomes based qualifications
Transparency of procedures
Self certification

28. THANK YOU FOR YOUR KIND ATTENTION