International Financial and Reporting Data School (IFRdS)
- Customer
- VTB Bank
- Project manager on the customer side
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- Year of project completion
- 2024
- Project timeline
- November, 2023 - October, 2024
- Project scope
- 3250 automated workstations
- Goals
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1.Engagement: Expanding the candidate funnel through the educational products
2.Recruiting: Fast-track for candidates participating in the educational program
3.Adaptation: Access to the library of Professional Finance courses in «Ilovelearning» LMS and participation in Finance department internship program
4.Retention: Involvement of the Finance department’s management team in course delivery, in-course feedback and participants mentorship program
5.Development: Internal growth and horizontal transitions supported by coaching sessions by the Finance Department management team, new levels of educational programs
6.Dismissal: Participants feedback-based adjustment of the content/format of the course
7.Happy graduates: Formation of the Finance Department graduates community: experience and best practice sharing, development of solutions to improve the efficiency An engaging course on International Financial Reporting Standards (IFRS) tailored specially for finance companies (banks, funds, etc.) - Project Results
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1. Three training courses have been successfully completed
2. Representatives from 90 universities
3. Representatives from 10 countries of the world4. Knowledge gain: +76%5. Customer Satisfaction Index (CSI): 4,746. 55% of university students participating in the program expressed a desire to join the internship program in VTB7. 150+ resumes have been submitted for selection to other divisions of the Bank8. 250+ resumes sent to the reserve9. 600 students in the database of specialized applicants for the Master's degree in Corporate Finance at GSOM St. Petersburg State University
The uniqueness of the project
1: Synergy of academic and business approach
2: Сase study analysis. Lectures with extensive practical experience in banking share their knowledge with the participants
3: Wide availability and scalability.
- The course is free for the first time for students, teachers and educated professionals
- The opportunity to study online
- The opportunity to ability to study anywhere in the world.
4: Integration with career opportunities
- Participants who have successfully completed the course of study get the opportunity of accelerated selection for an internship at VTB Bank
- Form the basis of knowledge for further ACCA, CFA, CIMA certification.
5: VTB Education Technology Platform- Used software
- VTB Education LMS, Dion Collaboration Tool
- Difficulty of implementation
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1. High workload of key personnel and management of VTB Bank involved in the design and implementation of training courses
2. Methodological processing of materials for the level of knowledge of students
3. The need to present complex and detailed descriptions of international financial reporting standards to the audience in an understandable and interesting format
4. Attracting a wide audience from around the world
- Project Description
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VTB Bank has created and uses the VTB Education LMS.
The LMS allows to provide online training for groups up to 5,000 people simultaneously.The recommended number of users in the training courses is determined solely by the ability of the lecturer to process feedback from the audience during the training courses.The content for the training courses was also created by VTB Bank together with the Higher school of management SPbU (further – GSOM).The academic part of the courses was mostly created by GSOM lecturers, while most of the practical cases were created and taught by lecturers from VTB Bank.
International Financial and Reporting Data School (IFRdS) is an online specialization of 3 levels:Level I. The basic level of IFRS- Conceptual framework of IFRS (framework)- IAS 38. Intangible assets: R&D- IFRS 10. The concept of control- IFRS 3. Business acquisition (consolidation)- IFRS 28, 11. Associates and joint venturesLevel II. Basic level Financial instruments- IAS 32. Presentation of information- IFRS 9. Classification of financial instruments- IFRS 9. Subsequent assessment and impairment- IFRS 9. Modification of financial instruments- IFRS 13. Fair value Derivative financial instrumentsLevel III. Advanced level Management reporting in the bank- Introduction: types of management reporting, application goals, users. Financial structure in banks- Allocation of expenses- Transfer pricing- Data quality- Performance indicators
24x7 access to the unique materials developed by the financial sector practitioners with ACCA and CIMA qualifications on the platform https://academy.vtb.ru/
Analysis of management reporting issues in financial organizations together with VTB leaders at online seminars and lectures by GSOM SPbU practitioners.
Certificate of completion of the VTB x GSOM St. Petersburg State University online intensive course, which will highlight the resume against the background of other candidates - for those who have completed the program.
The opportunity to get a fast-track internship at VTB Drawing of souvenirs from VTB Bank among those who completed with the best result Final and intermediate control of participants' knowledge.
- Project geography
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Representatives from 10 countries of the world:
1. Armenia2. Belarus3. Azerbaijan4. Kazakhstan5. Germany6. Mongolia7. Sweden8. China9. Russia10. Italy