Bank of Russia approves road map for financial market’s transition to independent qualification assessment

The Bank of Russia and the Financial Qualifications Council signed a road map for the transition to independent qualification assessment of financial market professionals.

The road map takes into account the Guidelines for the Development of the Russian Financial Market in 2019–2021 and the Plan for the National Qualification System Development in the Russian Federation Throughout 2024.

The road map is aimed at raising the effectiveness of professional training for financial market professionals, and the introduction of best practices in qualification development and assessment.

The road map lists the events that ensure the quality of independent assessment components and processes, as well as strategic guidelines for the system of independent financial qualification assessment: the development of professional accreditation of training programmes, automation of independent assessment processes and interaction between key system participants, and international recognition of financial qualification assessment.

The road map encompasses the period throughout 2021.