OBB study guide
OBB · Work through your exam, one topic at a time.
The OBB is a professional banking credential whose exam tests whether a candidate can apply regulatory rules, governance expectations and conduct standards to realistic banking situations. It is aimed at people working in or moving into compliance, risk, operations, relationship management and internal control roles at banks and similar institutions, and at candidates who need a structured, verifiable signal of banking knowledge rather than a narrow product certificate. The OBB study guide has 6 sections and about 1,970 words.
01Regulatory Framework and Supervisory Requirements
Candidates must be able to map each activity to its regulator and rulebook, and to distinguish statutory powers from supervisory guidance. Core concepts: the difference between primary legislation, delegated regulation, and non-binding guidance; authorisation versus registration versus notification; passporting and cross-border provision of services; the supervisory review and evaluation process; and the escalation ladder (moral suasion, supervisory measures, enforcement, licence withdrawal).
297 words, about 1 min02Governance, Risk Management and Internal Controls
Candidates should understand the division of responsibilities: the board sets strategy and risk appetite and provides challenge; the first line owns and manages risk; the second line provides independent oversight, frameworks, and limits; the third line (internal audit) provides independent assurance and reports to the board or audit committee. Key concepts include fitness and propriety of directors and senior managers, the senior manager or prescribed responsibility regime, conflicts of interest at board level, the risk appetite statement and its cascade into limits, and the control environment (policies, procedures, segregation of duties, reconciliation, authorisation).
318 words, about 2 min03Risk Management and Internal Controls
Candidates must be fluent in the risk management cycle: identify, assess (likelihood and impact), treat (avoid, reduce, transfer, accept), monitor, and report. Understand the difference between inherent and residual risk, the role of risk registers, key risk indicators, and control testing.
281 words, about 1 min04Business Operations and Customer Relationships
Candidates should be able to walk through the full client lifecycle: onboarding and know-your-customer, suitability and appropriateness assessment, product disclosure, execution and best execution, ongoing servicing, complaints handling, and offboarding or exit. Key concepts include treating customers fairly, vulnerable customers, conflicts of interest in distribution, inducements and commissions, and the distinction between advised and non-advised sales.
279 words, about 1 min05Financial Products and Services
Candidates must understand products by their economic characteristics: risk, return, liquidity, term, leverage, and complexity. Cover deposits and savings, credit and lending, mortgages, payments, investments (equities, bonds, funds), derivatives, insurance-linked products, and structured products.
259 words, about 1 min06Ethics, Conduct and Market Integrity
Candidates should understand the core conduct standards: honesty and integrity, due skill and care, fair treatment of clients, managing conflicts, market abuse prohibitions (insider dealing, market manipulation, unlawful disclosure), and personal account dealing rules. Know the difference between a bribe and a legitimate gift or hospitality, and the role of fitness and propriety in ongoing supervision.
536 words, about 3 min