The aim of this article is to provide an overview of some of the CPD Guidelines for the AFP designation. This is not exhaustive, and you should refer to the full guidelines for further detail.
Eligibility for Membership of the MCI CPD Scheme
The MCI CPD scheme is open to Board members or Equivalents of MCI.
For further information on the Minimum Competency Code/Requirements visit centralbank.ie
CPD Requirements (Summary)
Total annual CPD requirement is 6 hours.
At least 1 hour must be relevant to Ethics.
All hours must be relevant to the competencies set out in Schedule 1 of the Mortgage Credit Agreements Regulations 2016
The minimum unit of time recognised and accredited for CPD purposes is half an hour. The maximum number of hours for any single activity is two hours.
All CPD events must be accredited by IOB or LIA or The Insurance Institute (II).
All events must be recorded, and an annual return made by 31 January.
A random sample of members are audited each year.
Cost
To access the CPD content provided by IOB (events, eCPD, etc), you are required to maintain annual IOB Membership (currently €110) and the annual MCI designation fee of €105.
Failure to Comply
Any MCI CPD Member who:
Fails to make an annual return and/or
Fails to co-operate when audited and/or
Fails to pay their membership fees/designation fees and/or
will be deemed to be in breach of the CPD scheme requirements and in breach of one of the primary conditions of CPD membership (See ‘Welcome and Introduction’). This will result in the removal of the person from the MCI CPD Member.
Any MCI CPD Member who fails to complete the CPD requirement in any given year as set out in Annual CPD Requirements (i.e. fails to complete the required hours, or fails to complete one hour related to ethics) will, in the first instance, be given a grace period to ‘catch up’ and complete any shortfall in CPD requirements by 31 December of the following CPD year (in addition to the requirements for that CPD year). A five-year shortfall warning penalty will also be applied to the member’s record i.e. if the member fails to complete the CPD requirements as set out in Annual CPD Requirements in any of the five years following the first failure to comply, they will be removed from the MCI CPD Member scheme.
Persons who lose their CPD membership may not be compliant under the Central Bank’s Minimum Competency Code.
Where an MCI CPD Member is found to have made a false or seriously incorrect annual return, this will be considered misconduct by the member and will be referred for consideration under the disciplinary procedure for members, which may lead to expulsion from membership or other sanction. A member found to have made a false or seriously incorrect return of hours may also be permanently excluded from the MCI CPD Member scheme.
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