Qualifications 

The qualifications listed in Part 1 have been recognised in respect of the retail financial products and the specified functions associated with those retail financial products.  For example, the qualifications listed in respect of advising on or arranging life assurance are also recognised in respect of specified functions relating to life assurance, such as assisting consumers in the making of a claim under contracts of life assurance.

In addition to the qualifications set out in Part 1, a number of other qualifications have been recognised in respect of the specified functions, arranging amendments to life assurance policies and credit unions acting as insurance intermediaries.  These additional qualifications are set out in Part 2.

 Part 1

Category of retail product  Qualifications which are recognised in respect of retail financial products and associated specified functions 
1. Life Assurance
  • Qualified Financial Adviser (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Member, Associate or Fellow of the Irish Institute of Pensions Management (post 2006 syllabus)
  • Accredited Product Adviser (Life Assurance) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Certificate in Personal Financial Planning with the Personal Financial Planner designation as provided by the National College of Ireland
  • Accredited Product Professional (Life Assurance) (National College of Ireland) 
2. Pensions 
  • Qualified Financial Adviser (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Member, Associate or Fellow of the Irish Institute of Pensions Management (post 2006 syllabus)
  • Accredited Product Adviser (Pensions) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Certificate in Personal Financial Planning with the Personal Financial Planner designation as provided by the National College of Ireland
  • Accredited Product Professional (Retirement Benefits) (National College of Ireland)  
3. Savings and Investments 
  • Qualified Financial Adviser (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Member, Associate or Fellow of the Irish Institute of Pensions Management (post 2006 syllabus)
  • Registered Stockbroker (Institute of Banking School of Professional Finance)
  • Accredited Product Adviser (Savings and Investments) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Certificate in Personal Financial Planning with the Personal Financial Planner designation as provided by the National College of Ireland
  • Accredited Product Professional (Savings and Investment) (National College of Ireland)  
4. Personal General Insurance 
  • Certified Insurance Practitioner (The Insurance Institute of Ireland)
  • Associate or Fellow of the Chartered Insurance Institute
  • Accredited Product Adviser (Personal General Insurance) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Accredited Product Professional (Personal General Insurance) (National College of Ireland) 
5. Commercial General Insurance 
  • Certified Insurance Practitioner (The Insurance Institute of Ireland)
  • Associate or Fellow of the Chartered Insurance Institute
  • Accredited Product Adviser (Commercial General Insurance) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Accredited Product Professional (Commercial General Insurance) (National College of Ireland) 
6. Private Medical Insurance
and Associated Insurances 
  • Certified Insurance Practitioner (The Insurance Institute of Ireland)
  • Associate or Fellow of the Chartered Insurance Institute
  • Diploma in Private Medical Insurance (The Insurance Institute of Ireland)
  • Accredited Product Adviser (Personal General Insurance) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Accredited Product Adviser (Private Medical Insurance) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Accredited Product Professional (Private Medical Insurance) (National College of Ireland)
  • Accredited Product Professional (Personal General Insurance) (National College of Ireland) 
7. Housing Loans, Home Reversion Agreements
and Associated Insurances 
  • Qualified Financial Adviser (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Accredited Product Adviser (Loans) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Certificate in Personal Financial Planning with the Personal Financial Planner designation as provided by the National College of Ireland
  • Accredited Product Professional (Loans) (National College of Ireland)  
8. Consumer Credit and Associated Insurances 
  • Qualified Financial Adviser (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Accredited Product Adviser (Loans) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Accredited Product Adviser (Consumer Credit) (Institute of Banking School of Professional Finance, LIA and The Insurance Institute of Ireland)
  • Certificate in Personal Financial Planning with the Personal Financial Planner designation as provided by the National College of Ireland
  • Accredited Product Professional (Loans) (National College of Ireland)  

 

Part 2

In addition to the qualifications recognised in respect of the retail financial products and associated specified functions, listed in Part 1, a number of other qualifications have been recognised in respect of the specified functions, arranging amendments to life assurance policies and credit unions acting as insurance intermediaries.  These additional qualifications are set out below:

  Additional Qualifications recognised by the Central Bank in respect of retail financial products and associated specified functions 
Credit Union acting as
an insurance intermediary 
  • Credit Union Adviser (LIA and Credit Union Development Association)
  • Advanced Certificate in Credit Union Practice (University of Ulster and Irish League of Credit Unions)
  • Diploma in Credit Union Operations (University College Cork and Irish League of Credit Unions) 
Arranging amendments to
life assurance policies and pensions  
  • Associate or Fellow of the Chartered Insurance Institute
  • Diploma in Life Administration (The Insurance Institute of Ireland)  

 

Category of specified function  Additional qualifications recognised by the Central Bank in respect of specified functions 

1. Assisting consumers in the making
of a claim under contracts of life assurance

Or

Determining the outcome of claims by
consumers arising under contracts of life assurance
  • Associate or Fellow of the Chartered Insurance Institute
  • Associate or Fellow of the Society of Actuaries in Ireland
  • Diploma in Life and Disability Underwriting (The Insurance Institute of Ireland)
  • Diploma in Life and Disability Claims (The Insurance Institute of Ireland)
  • Solicitor Member of the Law Society of Ireland
  • Barrister-at-Law called to the Bar of Ireland 

2. Assisting consumers in the making
of a claim under contracts of general insurance

or

Determining the outcome of claims by consumers
arising under contracts of general insurance

 
  • Associate or Fellow of the Chartered Institute of Loss Adjusters
  • Associate or Fellow of the Society of Actuaries in Ireland
  • Certified Diploma in Loss Adjusting (The Insurance Institute of Ireland)
  • Diploma in Loss Adjusting (The Insurance Institute of Ireland)
  • Solicitor Member of the Law Society of Ireland
  • Barrister-at-Law called to the Bar of Ireland 
3. Providing debt management services,
as defined in Part V of the Central Bank Act 1997. 
  • Accredited Product Adviser (Debt Management Services) (Institute of Banking School of Professional Finance, LIA and the Insurance Institute of Ireland)
  • Accredited Product Professional (Debt Management Services) (National College of Ireland) 

4. Adjudicating on any complaint communicated to a regulated
firm by a consumer which relates to
advice about a retail financial product
provided to that consumer or the
arranging of a retail financial
product for that consumer or the
activities at 1, 2, or 3 above.

  • Licentiate of the Association of Compliance Officers in Ireland
  • Solicitor Member of the Law Society of Ireland
  • Barrister-at-Law called to the Bar of Ireland