FINAL CFS brochure-Aug2

Frequently Asked Questions

 

CFS Objectives

 

1. What is the CFS? How will it help support my career advancement? How will it benefit my agency?

The CFS is Toronto Centre’s inaugural designation for financial supervisors and regulators. 

The CFS will build the core supervisory, crisis preparedness and leadership skills candidates require to support their agencies in the ever-changing financial services industry. 

Candidates will gain the necessary knowledge and expertise to address the most pressing issues of today so they can lead and transform their agencies in these turbulent times. 

The CFS is also designed to support central banks and supervisory authorities around the globe that have adopted or will adopt risk-based supervision. The CFS has a cross-sectoral focus (banking, insurance, pensions, securities) and integrates sustainable development goals to provide holistic coverage of the financial sector and wider supervisory objectives. 

 

Application and Registration

2. How do I apply for the CFS designation?

Complete the application form and subsequent agency support letter, which will include approval from your direct supervisor. 

The CFS is a rigorous designation and requires serious commitment from participants. Therefore, we require acknowledgement that your agency supports your participation for the entire duration and approves your attendance. Toronto Centre will review your application and, if you’ve met all the prerequisites, send you an acceptance letter outlining your next steps. 

CFS applications will open with the launch of a new level-one program within the CFS designation The CFS is comprised of three-levels.  Acceptance to the CFS will automatically register you for CFS level one program open at that time. For upcoming CFS program dates and registration details, please go to the CFS page on Toronto Centre’s website. 

Although there is no mandatory timeline for completion of Level 1, CFS candidates are recommended to complete the first level (comprising of three programs Core Curriculum, Crisis Preparedness and Climate Risk) within two years of registering. 

3. Once I’m accepted into the CFS stream, do I need to register for each program separately or will I automatically be registered for them all?

You must register for each program separately. There are seven programs in total. CFS candidates are recommended to sign up for our email newsletters for updates regarding programs’ registration openings. 

4. Do I have to take programs in a specific order?
Within a level, you can take any required program at any time, for example, you may take any Level 1 program to initiate your CFS journey. However, in order to take a Level 2 program, you must successfully complete the Core Curriculum Program. In order to take your second Level 2 program, you must successfully complete all three Level 1 programs. In order to take your Level 3 programs, you must successfully complete all Level 1 and Level 2 programs.

 

Financial

5. What are the CFS fees for registrants joining in 2024?

For further details, please refer here for fee details.

6. What is included in the program fees? 

Program fees include the program delivery and all program materials. Participants will be responsible for paying for travel, accommodation, and some meals for in-person programs.

7. Are scholarships available?

There is a limited number of scholarships available only for the Core Curriculum Program to assist candidates.

 

Delivery, Exams and Dates

8. Will the programs be held virtually or in-person? 

The goal is to provide about half of the programs in-person. However, this may change based on pandemic-related travel advisories and global conditions. Please refer to the communications provided for each program.

9. How often will programs be offered?

All nine CFS programs will be offered each year.

10. What are the program dates for 2024?

Effective Supervision: April 8 – 12, 2024 

Crisis Preparedness & Simulation: May 27 – 31, 2024 

Climate & Biodiversity Loss Risks: June 10 – 14, 2024 

Conglomerate Supervision: August 26 – 30, 2024 

DFIS: September 16 – 20, 2024 

Core Curriculum: October 21 – November 1, 2024 

11. How long will it take to complete the CFS designation? 

Assuming the candidate passes and successfully completes each program, it should take approximately three years from start to finish. Candidates must complete all three levels of the CFS within five years of registration.  

12. If I am unable to take a program, can I defer it to the next time it is offered?

Yes, subject to the candidate meeting the CFS program criteria. You must meet all prerequisites to pass on to the next level of the program.

13. If I fail an exam or quiz, can I retake the exam or quiz or do I have to retake the program?

Candidates will be allowed one retake of the exam or quiz. An additional nominal exam/quiz fee will be charged. If the candidate fails the exam/quiz retake, they will have to retake the program.

14. Will there be simultaneous translation available in other languages at any of the programs?

No. Programs, quizzes and exams will be conducted in English.

 

Gradation and Designation

15. Will there be a graduation ceremony to confer the CFS?

Yes.

16. Will CFS graduates be listed on Toronto Centre’s website?

Yes.

17. If I leave the supervisory and regulatory profession before completing the designation, can I continue in the program?

No. The CFS is a designation for supervisors and regulators.

18. If I leave the profession after receiving the designation, can I still list the CFS designation on my resume?

Yes, the designation is given to candidates in a personal capacity. Once a candidate has met all requirements and graduated, the designation can be listed on a graduate’s resume.

 

Download the CFS brochure

Download the CFS– FAQ

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