• Font Size:
  • S
  • M
  • L
友善列印
WORD

Article NO. Content

Title:

Directions for Internal Control of Securities Firms Using Modelling in Management Operations  CH

Amended Date: 2016.04.08
Article 6     Personnel operating or executing risk management procedures in the risk management unit shall meet at least one of the following qualifications and register as risk management personnel on the "Securities Firm Filing Web-Entry" of the TWSE:
  1. Internationally certified as a Financial Risk Manager (FRM) or a Professional Risk Manager (PRM).
  2. Passed and received certification from the Taiwan Academy of Banking and Finance for the "Banking and Finance Personnel Risk Management Professional Skills Examination."
  3. Received a master's degree from a university in or outside of Taiwan, and attended a total of 36 hours or more of a derivatives or risk management course from an institution or unit mentioned in the fourth paragraph and received course credits or certification of completion within the past three years.
  4. Received a college degree in or outside of Taiwan, and attended a total of 60 hours or more of a derivatives or risk management course from an institution or unit mentioned in the fourth paragraph and received course credits or certification of completion within the past three years.
    In lieu of the course hours attended in the last three years under Subparagraph 3 or 4 of the previous paragraph, the name and hours of a course taken or certification of a school credit course taken or grade transcript within the past three years may be submitted, subject to the special review and confirmation of the TWSE or GTSM that comparable hours of training have been completed; where the "Banking and Finance Personnel Risk Management Professional Skills Examination" of the Taiwan Academy of Banking and Finance is passed and certification received, six of the course hours mentioned in Subparagraph 3 or 4 of the previous paragraph may be deducted; provided, however, that personnel meeting the requirements in Subparagraph 3 or 4 of the previous paragraph are no longer subject to review and determination of their course hours if they return to office within three years after departure.
    Risk management unit personnel in charge of verifying pricing models shall possess qualifications appropriate for the position, meet all the following qualifications, and register as pricing model verification personnel on the "Securities Firm Filing Web-Entry" of the TWSE:
  1. Satisfying the risk management personnel requirements of Paragraph 1; or providing relevant documents issued by the securities firm to which such personnel belong proving they are qualified for the position to the TWSE or GTSM for special approval and then to the competent authority for recordation.
  2. A representation issued by the securities firm to which such personnel belong allowing them to engage in verification of pricing models.
    The personnel mentioned in Paragraph 1 or the preceding paragraph shall continue to obtain on-the-job training and attend derivatives or risk management courses held by banking and finance, securities, and futures related institutions or academic research units (for example the Taiwan Academy of Banking and Finance, Chung-Hua Institution for Economic Research, Taiwan Securities Association, Securities and Futures Institute, Accounting Research and Development Foundation, graduate school or above etc.), for at least 12 hours every year (meaning the current year or one-year period starting from the date of registration) or 24 hours over a two-year period, with credits or certification of completion obtained.
    Personnel in charge of internally auditing the use of modelling in management operations shall meet the following qualifications in addition to the qualifications under the "Regulations Governing Responsible Persons and Associated Persons of Securities Firms":
  1. Have at least two years of internal auditing experience; or have at least two years of experience as a professional such as computer systems analyst, program designer, or auditor in an accounting firm.
  2. Attended at least 36 hours of a derivatives, risk management, computer audit, or other relevant course at a banking and finance, securities, or futures related institution or academic research unit in the past three years, with course credits or certification of completion obtained, except personnel in charge of internally auditing the use of modelling in management operations who return to office within three years after departure.
    Personnel in charge of internally auditing the use of modelling in management operations mentioned above shall continue to obtain on-the-job training, including derivatives, risk management, computer auditing or related courses, for at least 12 hours every year (meaning the current year or one-year period from the date of registration) or 24 hours over a two-year period, and, in the case of registration for two or more years, for at least six hours every year or 12 hours over a two-year period, always with credits or certification of completion obtained, to improve audit quality and capability.