BSc Banking and Finance (Compliance and Corporate Governance Minor)

BSc Banking and Finance (Compliance and Corporate Governance Minor) (REVISED 2019)

INTRODUCTION

Banking and Finance represents the lifeblood of the business world.  Given the dynamic nature of the financial services sector in the Caribbean, a training programme which provides regional professionals with a relevant Caribbean based alternative that is equivalent to those offered by international banking and financial services institutes is essential.

Understanding money and capital, and the role they play in every monetary transaction worldwide is incredibly important to every country’s economic, financial market and human resource development. The role of banking and finance continues to increase in complexity, fuelling demand for a need to understand the theory and logic that underlie financial decision-making, risk management and the behaviour of financial markets.

This programme has been enhanced to make it more attractive and relevant to the needs of practitioners.

 

ABOUT THE PROGRAMME

The B.Sc. Banking and Finance (Major) with a Minor in Compliance and Corporate Governance is a  redesigned programme which  offers students training and knowledge in key areas, to develop their competence to function effectively in the ever evolving global banking and finance industry.

The programme  offers courses at Levels II and III, which provide knowledge of the key theories and facilitates the practical experience required to function within the Caribbean financial industry. Students will be able to pursue a range of courses covering, inter alia, financial regulation, risk management, compliance issues, portfolio management, banking law and ethics, and financial markets and institutions.

The revised programme introduces critical financial issues such as anti-money laundering, terrorist financing, fraud, and regulatory and supervisory enhancement inclusive of the Practicum experience.

 

WHO IS THE PROGRAMME FOR?

The programme targets persons who are desirous of a career in the banking and financial services industry; those who are already employed in the industry and have an interest in upgrading their qualifications; persons working in credit unions and cooperatives; and persons who want to pursue training as occasional/specially admitted students, in specific areas to improve their skills or meet the professional development requirements of their employers.

The B.Sc. Banking and Finance programme is oriented towards the real life of international business and equips students with key knowledge, skills, and management tools for a successful career

 

The complete list of courses in the programme structure for the B.Sc. BANKING AND FINANCE MAJOR (with a Minor in Compliance and Corporate Governance) is presented below.

Programme Structure (Major/Minor) B.Sc. Banking and Finance/Compliance and Corporate Governance

COURSES
Level I	Level II	Level III
FOUN1001 English for Academic Purposes FOUN1501 Foundations for Learning Success FOUN1210 - Science, Medicine and Technology in Society ECON1003 - Mathematics for Social Sciences ACCT1002 – Introduction to Financial Accounting FINA1001 – Elements of Banking and Finance ECON1005- Introduction to Statistics ECON1001 Introduction to Microeconomics ECON1002- Introduction to Macroeconomics Level 1 Electives: Choose any one (1) of the following ACCT 1003 – Cost and Management Accounting SPAN1009 – Language for Business Spanish ECON 1009 - Introduction to International Trade and Foreign Business SELG1000 - Supporting Communities through Engagement and Volunteerism MGMT1001 – Principles of Management	FINA2002 Quantitative Methods of Banking and Finance MGMT2023 - Financial Management I ACCT 2025- Fraud Examination MGMT2030- Banking Law FINA2005 - Risk Analysis and Management FINA2014 - Financial Regulation FINA2015 - Compliance Issuesin Banking and Finance MGMT2064 – Organizational Behaviour and Human Resource Management Level 2 Electives: Choose any two (2) of the following   GEND2103 – Gender and Development: Social and Economic Considerations MGMT2021- Business Law ACCT2017 – Management Accounting MGMT 2007- Introduction to E-Commerce FINA 2003- Information Technology for Banking & Finance FINA 2004- Portfolio Management FINA2016 – Marketing Management and Sales Strategy for Bankers	MGMT3049 Financial Institutions and Markets MGMT 3081 Credit Analysis and Lending MGMT 3104- Principles and Practices of Corporate Governance MGMT 3066- Business Ethics for Bankers FINA3006 Trust and Corporate Law MGMT 3048- Financial Management II FINA3018-Practicum       Level 3 Electives: Choose any two (2) of the following MGMT 3024-Business Communication MGMT3031 – Business Strategy and Policy MGMT 3017- Human Resource Management MGMT3061 – Team Building and Management

 

ENTRY REQUIREMENTS

Applicants must meet the University’s normal matriculation requirements in order to be accepted into the programme.  They must satisfy the requirements in either (a), (b), (c) or (d) below:

English Language Proficiency Examination

The English Language Proficiency Test (ELPT) is used to assess whether persons applying to pursue undergraduate degree programmes at the UWI Open Campus possess a satisfactory level of writing and reading proficiency in English for university academic purposes. For detailed information on the ELPT, see English Language Proficiency Test.

(a) Holders with CXC/CSEC and CAPE/GCE A Level qualifications having:

• An acceptable pass in CXC/CSEC English A or CAPE Communications Studies; AND
• An acceptable pass in CXC/CSEC Mathematics or its equivalent; AND
• One of the following minimum qualifications:
• either five subjects (at least two GCE A Level or CAPE) and the remainder acceptable passes in CXC/CSEC or GCE O’ Level; OR
• four subjects (at least three GCE A Level or CAPE) and the fourth an acceptable pass in the CXC/CSEC or GCE O’ Level

Note: Grade requirements for CXC/CSEC subjects are General Proficiency - Grades I or

          II prior to June 1998 and Grades I, II, or III from June 1998        

(b) Holders of five (5) CXC/CSEC or GCE O’ Level passes or equivalent, not necessarily obtained at the same sitting
(c) Entrants with a Diploma, Certificate or Associate Degree from UWI or an approved Caribbean tertiary level institution, having attained a B+ average or a minimum GPA of 3.3
(d) Persons over the age of 21 who have been out of school for at least five years, on the basis of their overall academic and professional attainments

Improving Your Mathematics Skills (IYMS1001)

IYMS1001 provides students with the academic foundation needed to successfully complete the mathematics-based courses of the University’s social science degree programmes and to fulfil the requirements of The UWI regarding applicants without a pass in GCE/CXC Mathematics. Entrants who do not possess a pass in GCE/CXC Mathematics will be required to enrol in IYMS1001. This course is also highly recommended for applicants who passed CXC/GCE Math at the Ordinary Level more than five years prior to enrolling in the programme.

Effective Semester 1 AY2018/2019, in addition to being a pre-requisite for ECON1003- Mathematics for the Social Sciences, the Open Campus Academic Board has approved CXC/CSEC Math or GCE Math or IYMS1001 as a pre-requisite for the courses shown below:

• ECON1000 - Principles of Economics I
• ECON1010 - Mathematical Thinking and Introductory Statistics
• SOCI1005 - Introductory Statistics for the Behavioural Sciences
• ECON1005 - Introduction to Statistics
• and for specific courses with a Mathematics base that are offered at Level 2 of the respective programmes as follows: MGMT2023 – Financial Management I (B.Sc. Youth Development Work) and ECFS2009 - Literacy, Numeracy and Science in The Early Years (BEd Early Childhood Development and Family Studies)

And

• Where students are required to successfully complete IYMS1001, that they MUST do so during the first year of their programme as part of their Level 1 requirements. This is proposed in an effort to ensure that students are prepared for their Mathematics based courses at Level 1, 2, or 3 and can apply their knowledge of Math and requisite skills throughout their course of study.

 

DURATION OF PROGRAMME

The programme will be offered over 3 years (full-time) and 5 years (part-time).

 

AWARD OF DEGREE

In order to be awarded the Banking and Finance (Major) with a Minor in Compliance and Corporate Governance degree, students must successfully complete 90 credits with 45 credits in the Special, 30 credits in the Major and 18 credits in the Minor at Levels II and III.

 

DELIVERY MODE

All courses will be delivered fully online. However, some courses may have face-to-face final examinations.

 

HOW MUCH WILL THE PROGRAMME COST

The link below provides information on the programme cost.

http://www.open.uwi.edu/undergraduate/financial-information

 

HOW TO APPLY

Applications for the programme will be accepted online

Interested persons should complete an application form available at http://apply.open.uwi.edu. The instruction sheet can also be downloaded by going to Instruction Sheet

 

WHAT DOCUMENTS SHOULD I SUBMIT?

1. Signed copy of Declaration Page (required for all online applications)
2. Please note that this document will only be accessible after you have selected the "Application is Complete" button.
3. Birth Certificate (not required from UWI graduates)
4. Marriage Certificate (where applicable)
5. Legal Affidavit or Deed Poll if your present name is different from that on the Birth Certificate
6. Professional Certificates/Diplomas obtained from institutions other than UWI
7. Official Transcripts (for non-UWI graduates )

Please note that official transcripts must be sent directly from the granting institution to The UWI Open Campus (please see mailing address at the back of the brochure).  All other documents should be submitted through an Open Campus Country Site. Applicants are requested to take the originals to the nearest Site where they will be copied, certified, scanned, and then forwarded to the Assistant Registrar. Applicants from countries without an Open Campus Country Site should write to the Assistant Registrar at admissions@open.uwi.edu

The links below provide further information on application, admission and documents required.

• http://www.open.uwi.edu/undergraduate/admissions
• http://www.open.uwi.edu/undergraduate/documents-required

 

ACADEMIC PREPARATION

OOL1001 Orientation to Online

IYRS1001 Improving your Reading Skills

IYSS1001 Improving your Study Skills

IYMS1001 Improving your Math Skills (if applicable)

ECON0001 Remedial Mathematics (if applicable)

 

COURSE DESCRIPTIONS

English for Academic Purposes

English for Academic Purposes is designed to take students beyond basic competence in the comprehension and production of English prose, by building competence in the processing (reading) as well as production (writing) of the language of academic discourse. Students will learn from to distinguish academic writing from other kinds of writing.

Science, Medicine and Technology in Society

The aim of the course is ‘to sensitize and equip of the student to engage in an informed manner in public discourse on matters pertaining to the impact of science, medicine and technology on society.’ The course material is divided into two Modules, Module 1 being The Nature, Importance and Methodology of Science and Module 2 being The Impact of Science on Society in General and on Caribbean Societies in Particular.

Foundations for Learning Success

This course introduces the principles of reflective-reflexive practice as a foundational tool to be applied throughout this course as well as in other courses in your programme of study. The course is organized under four themes through principles of reflective- reflexive practice. The themes relate to self, the process of meaning-making, lifelong learning to include the development of employability skills, and community/team learning. The course emphasizes transformative learning and change at the personal level and professional level through critical self-exploration that is based on the principles of reflective and reflexive practice.

Mathematics for the Social Sciences

This course is designed to build on students’ understanding of elementary mathematics and to expose them to some of the mathematical concepts that will be used in the study of various models in economics and management sciences. Emphasis will be placed on the understanding and application of mathematical concepts rather than on computational skills, the use of algorithms and the manipulation of a formula.

Introduction to Statistics

The course is designed to provide students with the necessary skills to grasp the content related to the paradigms and approaches of statistical analysis. It will familiarize students with the rudiments of statistical theory by providing a practical understanding of several statistical tools used in research. The emphasis will be on understanding statistical application, what they measure, and how to interpret results. The purpose of this course is to introduce student to the subject of statistics as a science of data. In this information age students need to be able to extract useful knowledge and gain a sound understanding from data of varying complexities In this course, we will focus on the fundamentals of statistics, which may be broadly described as the techniques to collect, clarify, summarise, organise, analyse and interpret numerical information.

Elements of Banking and Finance

This course is designed to introduce learners to the basic concepts, theories and issues involved in banking and finance in an economy, and the managerial issues that confront banking institutions. Learners are introduced to the institutions that comprise the financial sectors in the region, their organizational structure, the legal framework and constraints within which the financial institutions operate, banker/customer relations, and banking operations and services. Emphasis is on developing an understanding of practice, and application of functional skills to enhance understanding of institutions’ operations in the sector.

Introduction to Financial Accounting

The aim of this course is to introduce the fundamental concepts and techniques of financial accounting and financial reporting. The course provides a conceptual framework for understanding financial accounting policies and their rationale. This course also introduces principles and conventions for and underlying the preparation of the main financial statements provided by business entities. Finally, the course provides a foundation in accounting theory and practice.

Introduction to Microeconomics

The course components include the foundation theories of basic microeconomics including an introduction into the study of economics and analyses of economic agents’ behaviours, particularly that of the individual and the firm. The course begins with a description of the subject area, and continues to introduce the basic concepts and theories that are used as the foundation of microeconomic theory and analysis. This includes discussions and applications of the theory of the consumer; theory of producer; market operations; and market structures. 

Introduction to Macroeconomics

This is a foundation course for the understanding of economics and is designed to equip students with the tools necessary for analyzing real world macroeconomic problems. It will serve as the basis for a more advanced course of study in macroeconomic theory. For the non-specialists, the course covers topics that will contribute greatly to understanding many of the most pressing issues facing the country, the region, and the world we live in, and includes concepts that are highly relevant to decision-making in most jobs.

Principles of Management

This course is an introduction to the study of management theories and practices. Management is discussed as a functional, problem-solving, decision-making process that is geared towards the effective and efficient accomplishment of organizational goals. Issues and cases associated with management in the Caribbean context are considered throughout the course.   

Team Building & Management

The aim of this course is to provide students with a thorough background of the principles and practice of team building and team work. Students will be given an opportunity to examine team building case studies within and outside the Caribbean region, and to apply the best practices in their team project as well as their respective workplaces.

Gender in Caribbean Societies: Social, Political and Economic Relations

This course will explore ideas and experiences regarding inequalities of sex, gender, sexual orientation, race/ethnicity, age and class in Caribbean societies. It will examine the ways in which these factors of inequalities intersect in the lives of Caribbean men and women producing hierarchical relations of power. Beginning with an examination of the concepts sex and gender the course will show these concepts as contested ones even as they are useful in examining the asymmetrical experiences of men and women in the Caribbean. Here learners will be introduced to other relevant concepts for analysis in the course. These include race/ethnicity, age, class, sexual orientation, patriarchy, power and social justice. In the process of marking the conceptual boundaries the course is designed to encourage the development of critical thinking skills as well as the students’ reflections on their own ideas and practices which may contribute to or challenge inequalities. The skills and concepts harnessed in the first section of the course will provide the basis for exploring and interrogating the ways in which ideas about and experiences of nationalism and citizenship [non-citizenship], the effects of globalization, access to and participation in education, work, political life and leisure activities are built on foundations of asymmetrical power relations. A range of activities, social media and literature will be used to encourage the students’ critical examination of these inequalities and make suggestions as to how these may be reduced and ultimately transformed producing a more socially just society.

Portfolio Management

This course examines both the theory and practical aspects of portfolio management and current portfolio management trends. It aims to introduce students to basic portfolio theories and the implications of portfolio construction and management in order to make practical investment decisions. The course covers the elements of investments, the construction of optimal investment portfolio using common stocks, bonds, etc. that suits the objectives of different types of investors. This course allows students to employ available information on financial markets, at both the macro and micro levels to make investment decisions. Major topics will include Portfolio Principles, the Securities Market and Evaluation of Portfolio Performance.

Risk Analysis & Management

This course provides clear definitions of the various types of financial risks and explains how they arise from the daily operations of financial services providers. It then provides topic-by-topic coverage of the different types of financial risks with regard to identification, analysis, measurement and the selection of techniques to manage or mitigate the risks. While the course structure separates the financial risks to facilitate the learning process, learners are reminded that most financial services carry multiple risks that must be analysed and managed simultaneously. Therefore as the course progresses, learners are required to draw on knowledge and skills gained from earlier sections.

Financial Regulation

In this course, learners will learn about the structure of banks and financial institutions, and the special economic and social function of banks in economies. Learners will study the principles of effective regulation and supervision; their implementation at an international level, and the numerous challenges faced by regulators and supervisors. Learners will also review the causes of the financial crisis, and the global financial markets’ response as evident in the regulatory reform of financial law.

Banking Law

Banking law is a course designed to introduce students to the legal principles, rules and regulations of banking law. The course borrows largely from international banking by exploring some international legal instruments regulating banking practice. It also highlights the relevance of domestic laws in regulating banking practice in the Commonwealth Caribbean by considering the statutes, policies and case law on the subject within the region. By exploring banking regulations both from domestic and international perspectives, the course examines the theoretical basis, as well as the framework for such banking regulations and supervision. The basic principles underlying banking law with a particular emphasis on the relationships between banks and their customers, the position and role of banks in money laundering and some key banking practices such as loan sales and asset securitization will be explored in a manner that gives students a solid understanding of the broader social, economic and political issues underlying the rapid evolution that is presently taking place in the banking industry. The course concludes by examining some issues in international banking which will deepen students’ understanding of major trends in cross - border banking, documentary credits and performance bonds.

Organisational Behaviour & Human Resource Management

This course seeks to introduce students to the fundamentals of organisational behaviour and human resources management (HRM). The course introduces students to some of the factors that shape behaviour in organisations. It will help students to develop their understanding of the types of options and strategies managers use to shape behaviour, and the responses of individuals and groups to these strategies. This course also examines the role of the human resource (HR) professional. Students will learn about the evolution of human resource management; however, emphasis is on the importance of HRM in today’s world.

Advanced Portfolio Management

This course provides learners with a thorough understanding of the dynamic and integrated nature portfolio management process from the view point of portfolio and investment managers. This course blends portfolio theory with practical issues that one will come across in a career as a professional investment manager. Topics include developing strategic asset allocations among equity, fixed-income and risk-free assets, utilising derivative securities to manage portfolio risk and, if possible, enhance portfolio returns, and evaluating portfolio and manager performance relative to investment objectives and appropriate benchmarks. Additionally, students will have an opportunity to apply theories in a simulation project by managing a real life investment portfolio which would aid the enhancement of the portfolio management techniques through a class project. Students will learn to utilise a top-down approach to construct the portfolio, select individual stocks, formulate portfolio strategies, and finally, present the proposal and investment decisions.

Business Ethics for Bankers

In addition to exploring Ethical theories and current best practices, the course features a series of practical case studies of ethical issues and dilemmas that investment professionals may typically encounter. Participants will apply their knowledge of ethical principles to develop proposed solutions to resolve these case studies and dilemmas. Group work is also an important element of this course as it provides an opportunity for students to share insights, and develop a deeper understanding and appreciation of ethical principles and more importantly, engender individual ethical behaviour. In addition, the course seeks to identify the appropriate and relevant principles for resolving different kinds of ethical issues which are not addressed by law and industry rules and regulations.

Practicum

The Practicum enables students to gain exposure and practical experience in the application of financial principles and concepts to real-world business situations, and analysis of real-time data and financial trends. Considered to be one of the most useful and rewarding courses of the university experience, the Practicum is an academic year-long (two semesters) final year work-based practice project. It provides an opportunity for students to work closely with an institution on a substantive issue that is salient to the financial institution, and relevant to prevailing financial market trends and development. The instituition, in turn, also has a chance to observe the students in a work situation.

Marketing Management & Sales Strategy for Bankers

Marketing is defined as all activities conducted to prepare for sales. Sales is described as all activities required to close the deal. The course aims to equip students with a basic understanding of the roles of marketing and sales in modern financial organizations. A comprehensive understanding of the wants and needs of customers will lead to the development of a combined marketing and sales plan designed to help ensure that the organization achieves its strategic objectives. Additionally, the course will examine strategic choices for banks in the digital age as well as global marketing and sales trends for the banking industry.

Compliance Issues in Banking and Finance

In this course, students will learn what constitute financial criminal acts, and the principles of an effective compliance and risk management framework in mitigating the spectrum of compliance risks that arise within financial institutions. Students will also learn to analyse these risks and the factors that give rise to them; and assess financial institutions’ cost of non-compliance based on the prevailing legal and regulatory framework. This course is also designed to equip students with the knowledge and ability necessary to deal with daily challenges which arise in business practices, the regulatory and reporting requirements that must be met, and the cost of non-compliance as evidenced by the fines and sanctions applicable.

Trust and Corporate Law

This course is designed to equip students with an understanding of the roles that Trusts, and Corporate Law play in modern financial markets, particularly regarding corporations’ fiduciary and governance roles in 85 | P a g e ensuring corporate independence and accountability. Students will be introduced to the fiduciary roles of trustees, their obligations, rights, limitations, and immunities in varying financial transactions; and the case laws that set precedence in legal issues. Students will also learn about the formation of corporations, corporate control, corporate governance in corporations and the impact on financial markets and society; and will discuss and examine the impact that a lack of governance plays in financial crises. Throughout the course students will be expected to demonstrate their ability to apply theoretical concepts to practical issues, using case laws where relevant to support their arguments.

Supporting Communities through Engagement and Volunteerism

This course gives the student the opportunity to grow academically, through participation in a servicelearning experience. Students will meet real needs in the community by applying knowledge from the course. This course will examine elements of disaster response, volunteerism, civic engagement, service learning, social innovation, healing proposals and service projects and will expose students to the four basic principles of service learning namely, engagement, reflection, reciprocity and public dissemination. Students will complete 30 hours of service over a five week period (Weeks 7 to 11), which may include participating in community enhancement activities or other community projects that are related to disaster risk reduction/management. During the 5 weeks of community service, students will be expected to reflect on their experiences and document their reflections in their online journal while completing other tasks online. Students will work with selected NGO’s, CBO’s or other established community groups and partners in their respective territories, in post-disaster response or disaster preparedness/risk management service areas that positively impact the community.

Quantitative Methods of Banking and Finance

This course is designed to provide learners with a clear understanding of the different types of banker/customer relationships and their implications; and mathematical and statistical techniques that will equip them to perform investment calculations, financial analyses and forecasting in a financial and business environment. Although prior knowledge of introductory statistics would be an asset, much of the material is built from first principles that learners, new to the concepts should be able to follow.

Information Technology for Banking and Finance

This course is designed to provide a broad country-context, but focuses on the Caribbean environment. Its aim is to provide learners with a thorough understanding of the role of IT in the delivery of financial services and the major software packages employed in the financial services industry.

Learners will be introduced to the regulatory framework related to e-banking using current global banking practices as a basis for discussion.

This course is intended for those interested in how data and technology can be applied to the banking business to markedly improve performance. It is suitable for both management and staff with a financial services and/ or IT background.

Introduction to E-Commerce

This course aims to prepare students with the requisite fundamentals to enable them to provide the business perspective/inputs to the ecommerce adoption process. Emphasis will be on the underlying commercial principles of e-commerce rather than on the technological processes. Topics to be covered include: Internet Demographics; Internet Business Models; Customer Support Strategies; Security Issues in Ecommerce; Legal Issues in E-commerce; Logistical Challenges for Caribbean E-commerce. The course will be assessed by a combination of coursework and a final examination.

Credit Analysis and Lending

This course is designed to provide students with an understanding of the role of credit and its inherent risks, the tools for making lending decisions and credit administration challenges and techniques. The legal and regulatory frameworks will be looked at in view of their implications for the credit function – loan products, customers, collection and recoveries. Qualitative and quantitative measures will be looked at as the basis for assessing the creditworthiness of a potential borrower.