What are the regulations surrounding the Wft diploma in the financial sector?
According to the Financial Supervision Act, financial institutions must guarantee the quality of their services. This means, among other things, that they are obliged to have competent employees for the subjects in which they consult. After all, the consumer must be able to trust that an employee has the correct knowledge and skills to give appropriate advice. Which is why a Wft diploma is obligated for employees working in financial services who provide advice.
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What exactly is a Wft diploma required for?
The Wft course focuses on the laws and regulations surrounding financial products and services. The Wft diplomas an employee has obtained therefore decide which products and services he may provide advice on. The Wft basic diploma ensures a solid basis of financial knowledge and is accordingly required for employees working at financial organisations.
In total, there are nine types of Wft diplomas:
- Wft Basic
- Wft Consumer credit
- Wft Mortgage credit
- Wft Income
- Wft Pension
- Wft Non-life insurance personal
- Wft Non-life insurance business
- Wft Financial capital
- Wft Health insurance
Verifying Wft diplomas via DUO
When someone has obtained a Wft exam, the diploma is made available in ‘My Wft’, a digital register of Dienst Uitvoering Onderwijs (DUO). It is therefore possible to gain insight into the Wft diplomas obtained by a person and for which professional qualifications he is qualified to give advice.
Please note that the obtained Wft diploma is only valid during the current and the following Permanent Education (PE) period. The PE periods are set up as follows:
- April 1, 2017 through March 31, 2019
- April 1, 2019 through March 31, 2022
- April 1, 2022 through March 31, 2025
To subsequently renew a Wft diploma, an employee must pass a special exam. He then has the succeeding period to renew the diploma.
Why check a Wft diploma via Validata?
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Validata addresses your concerns
If your organisation wishes to verify the obtained Wft diplomas of new staff, this can easily be included in the screening process if desired. After you have registered a (potential) employee and chosen the appropriate screening profile, Validata takes the work off your hands.
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Working collaboration with Justis
Validata has a trusted partnership with DUO to verify data, including Wft diplomas.
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Specialises in employment screening
Validata has specialised in employment screening since 2009. Due to our many years of experience, we offer a fast and efficient screening process with the best possible candidate experience.
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Specialised in employment screening for the financial sector
Validata has been providing screening solutions to the financial sector since its establishment and therefore serves a large number of financial institutions. Besides our sector knowledge and years of experience, we are also aware of the current laws and regulations that financial institutions need to comply with.
Employment screening in the financial sector
In addition to the professional competence requirements that financial institutions must meet, they must also take into account other matters. As an employer you have a great responsibility in assessing the reliability of (potential) staff. A Dutch certificate of conduct (VOG) is then an effective instrument to test the reliability of an employee.
Validata is well aware of the laws and regulations in the financial sector and the need for organisations to comply with them. We would like to think along with your organisation for a suitable screening solution. Want to know more about screening in the financial sector?
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