AUN - QA self-assessment report: Bachelor of Finance and Banking

HO CHI MINH UNIVERSITY OF BANKING

AUN – QA SELF-ASSESSMENT REPORT BACHELOR OF FINANCE AND BANKING

Dr Ong Van Nam Head of Quality Assurance Unit

LIST OF TABLES

Table 2.1: Matrix of Program Learning Outcomes and Course Learning Outcomes 10

Table 2.2: Survey Results on Program Objectives 15

Table 2.3: Survey Results on Draft PLO from Stakeholders 15

Table 2.4: Achievement Levels of Expected Learning Outcomes (ELOs) 16

Table 2.5: Contributions of stakeholders to the PLO of the Finance training program 21

Table 2.6: Number of courses (compulsory, elective) contributing to the PLOs 22

Table 2.7: Illustrates the matrix of course contribution to the PLOs of the academic program It also shows the evaluation method with each PLO in the syllabus of the Portfolio Management course of the Finance Concentration Program 23

Table 2.8: Structure of the high-quality undergraduate training program 24

Table 2.9: Comparison of teaching and learning activities aimed at enhancing lifelong learning ability for students of the training program 2014, 2019, and 2021 30

Table 2.10: The number of exam papers of the Finance major training program that was appealed from 2019 to 2022 (Unit: papers) 34

Table 2.11: 10-point grading scale converted to letter grades and 4-point grading scale 36

Table 2.12: Number of Financial Department’s academic staff from 2020 to 2023 40

Table 2.13: Number of academic staff participating in the 2022-2023 academic year 41

Table 2.14: The rate of academic staff/students in HUB (from 2018 to 2023) 43

Table 2.15: Training activities for the period 2020 – 2023 47

Table 2.16: The number of academic staff in the Faculty of Finance 47

Table 2.17: The ratio of budget allocation of the University for academic staff 48

Table 2.18: Admission Policy 2019-2023 of the Finance Program 49

Table 2.19: Statistics on the number of students of the Finance Program enrolling 51

Table 2.20: Statistics on the number of students currently following the Finance Program 52

Table 2.21: Admission score of the Finance Program during 2019-2023 52

Table 2.22: Student consulting and support activities 53

Table 2.23: Statistics on the number of support staff (as of November 30, 2023) 57

Table 2.24: Survey results of student support service quality over five years 58

Table 2.25: Statistics of visits/borrowing/returning library materials of lecturers and students of the Finance Program 60

Table 2.26: Statistics of software and information technology equipment 60

Table 2.27: Funding sources for maintenance and upgrading of facilities and equipment in the period 2018-2023 (in million VND) 62

Table 2.28: Funding for maintenance and upgrading of practice rooms in the period 2018-2023 (in million VND) 62

Table 2.29: Funding for annually purchasing and updating library materials 63

Table 2.30: Competency requirements for support staff positions 66

Table 2.31: Statistics of training courses for staff of the Department of Facilities Management, Department of Information Technology Management, and Library 67

Table 2.32: HUB's information technology system (as of December 2023) 69

Table 2.33: Graduation and dropout rates of Finance students from 2019-2023 70

Table 2.34: Comparison of graduation and dropout rates of HUB’s training programs 71

Table 2.35: Graduation rate within four years and more than four years 72

Table 2.36: Employment rate of Finance students graduating within 12 months 73

Table 2.37: Comparison of the ability to find a job among HUB's training programs 74

Table 2.38: Statistics of scientific research activities of FOF lecturers during 2019-2023 75

Table 2.39: Results of scientific research activities of students in the Finance Program and comparison with other training programs 76

Table 2.40: Scientific research awards of FOF students in the period 2019-2023 77

LIST OF FIGURES

Figure 1.1: Organizational structure chart of the FOF 3

Figure 1.2: Certificate for the Finance Program 5

Figure 2.1: Alignment between the Learning Outcomes of the Finance curriculum and the mission and vision of the University 8

Figure 2.3: Subject-Specific and Generic Learning Outcomes 14

Figure 2.4: Development orientation diagram of students of the Finance major 28

Figure 2.5: Timeline in the process of appealing the exam results at the end of the course 33

Figure 2.6: Timeline in the scoring and score announcement process for students 38

CONTENTS

PART 1: INTRODUCTION 1

1.1 General overview of the University 1

1.2 Introduction of the Faculty of Finance 2

1.3 Introduction of the Self-Assessment Report 5

PART 2: AUN-QA CRITERIA 4.0 7

2.1 AUN-QA Criterion 1 – Expected Learning Outcomes 7

2.2 AUN-QA Criterion 2 - Program Structure and Content of Program 18

2.3 AUN-QA Criterion 3 - Teaching and Learning Approach 26

2.4 AUN-QA Criterion 4 - Student Assessment 31

2.5 AUN-QA Criterion 5 - Academic Staff 40

2.6 AUN-QA Criterion 6 – Student Support Services 49

2.7 AUN-QA Criterion 7 - Facilities and Infrastructure 59

2.8 AUN-QA Criterion 8 - Output and Outcomes 70

PART 3: STRENGTHS AND WEAKNESSES ANALYSIS 80

Criterion 1: Expected Learning Outcomes 80

Criterion 2: Program Structure and Content 80

Criterion 3: Teaching and Learning Approach 81

Criterion 4: Student Assessment 82

Criterion 5: Academic Staff 83

Criterion 6: Student Support Service 84

Criterion 7: Facilities and Infrastructure 85

Criterion 8: Output and Outcomes 85

PART 1: INTRODUCTION

1.1 General overview of the University

Ho Chi Minh University of Banking (HUB) is a public university under the State Bank of Vietnam, established on December 16, 1976, with the task of providing human resources in finance and banking mainly to the southern region After phases of development with several names and branding, the title “Ho Chi Minh University of Banking” was officially recognized under Decision No 174/2003/QD-TTg dated August 20, 2003, by the Prime Minister HUB had experienced a half-century journey to become one of the leading multidisciplinary universities in the southern region and countrywide HUB currently delivers more than 40 academic programs at bachelor, master, and doctoral levels The portfolio of academic programs is rich and diversified such as standard programs, high-quality programs (Partial English), dual degree programs, international programs, and part-time programs HUB is the pioneer in developing international integration and digital transformation-oriented academic programs

In the academic year 2022–2023, HUB had 13,000 full-time undergraduate students and 408 part-time undergraduate students, over 300 master students, 80 doctoral students and about 1000 students in international programs

All of HUB’s academic programs are accredited by domestic and international accreditation agencies, in which 06 programs are accredited by AUN – QA HUB also has been granted the Certificate of Institutional Accreditation according to the standards of the Ministry of Education and Training of Vietnam (MOET) for the phases of 2017 – 2022 and 2023 – 2028

As of 2022-2023, the total number of HUB officials and employees is 486, including 18 associate professors, 141 doctors, 244 masters, 48 bachelors, and 35 others (with associate degrees or below) Regarding structure, HUB has 324 lecturers (including 42 lecturers cum managerial position) and 84 staff in the management and service departments

Currently, HUB has three main campuses at 36 Ton That Dam, District 1, Ho Chi Minh City; 39 Ham Nghi, District 1, Ho Chi Minh City and 56 Hoang Dieu 2, Thu Duc City, Ho Chi Minh City with a total area of more than 11 hectares, equipped with system of hall, amphitheater, classroom, study room, office, practicing and simulation room, computer room, library, data platform, dormitory, canteen, sports facilities

HUB has built the university's vision, mission, and core values in the framework of University Strategy

to 2023 and Vision 2045 with the action slogan – “HUB - Heightening Unique Brilliance”

VISION

HUB is oriented to become a multidisciplinary and interdisciplinary university in the group of prestigious universities in Southeast Asia HUB is a pioneer in the application of digital technology in training, research, and in solving interdisciplinary problems

MISSION

HUB provides society and the banking industry with high-quality human resources, high-impact research along with consulting services, and community services HUB creates an educational ecosystem, provides lifelong learning opportunities; thrives for holistic development for students, with creativity and a spirit of serving

CORE VALUES

Honesty and Integrity: HUB promotes integrity and honesty in all actions; be consistent across

thoughts - words - actions

Unity: HUB takes the motto of ensuring harmony of interests between relevant parties to develop

together

Be the pioneer: HUB is the pioneer in applying scientific and technological achievements to training,

research, management, and administration activities EDUCATIONAL PHILOSOPHY

Liberal Education

HUB creates conditions for learners to explore their potential; acquire in-depth professional knowledge of the field of study based on a broad knowledge base of the fields of nature, society, politics, law, technology, etc.; develop intellectual abilities; develop personal skills and shape positive

life values towards autonomous and creative people, excellent experts, and responsible citizens Interdisciplinary

HUB creates conditions for learners to have interdisciplinary knowledge to gain a deeper understanding of their main industry, be able to connect with experts, avoid biases in decision-making,

and increase job opportunities Experience

HUB implements the “growth through experience” training model Through experience, learners will

gain a deeper understanding of theory, form practical thinking and implementation capacity, thereby

adapting and improving with the environment 1.2 Introduction of the Faculty of Finance

Associated with the formation and development of HUB, the Faculty of Finance (FOF) has a history of more than 40 years, with an essential mission of training experts in finance, money, and banking for commercial banks, financial institutions, and businesses

The process of formation and development of FOF went through many stages with many different names:

• According to Decision No 107/2003-DHNH dated December 22, 2003, on the establishment of units under HUB, the Faculty of Money - Financial Markets under the Academy of Banking - Ho Chi Minh City Branch previously changed to Faculty of Money - Financial Markets under HUB

• According to Decision No 1370/QD-NHNN dated September 16, 2005, of the Governor of the State Bank of Vietnam, the Faculty of Stock Market was established

The most recent is Decision No 330/QD-NHNN of the Governor of the State Bank of Vietnam dated February 26, 2014, on restructuring the Faculty of Stock Market into the Faculty of Finance with the main task of training experts in finance, money, banking for commercial banks, financial institutions, and businesses

Through the stages of development, FOF's teaching staff is constantly growing in both quantity and quality Currently, FOF's staff includes 34 officers and lecturers, including 2 Associate professors, 17 Doctors, 16 Masters, and 11 lecturers studying for doctorates domestically and abroad The current

organizational structure of the FOF includes the Dean in charge of general affairs Assisting the Dean, based on organizational and operational regulations, includes two deputy deans: one deputy dean in charge of academics & scientific research and one deputy dean in charge of training & quality assurance The departments in the FOF are structured into: the Department of Monetary Finance, the Department of Financial Investment, and the Department of Corporate Finance (Figure 1.1 - Organizational structure chart of the Faculty of Finance)

Figure 1.1: Organizational structure chart of the FOF

Source: Faculty of Finance

FOF has always affirmed its solid position as one of the leading training and human resource providers in the field of finance and banking in general and for the Vietnamese stock market in particular Efforts to build and improve FOF's training program are carried out yearly The inspection results show that

FOF's training program met the regional standards of AUN-QA in 2019

To further improve the quality of training and respond promptly and appropriately to growing social needs, FOF constantly implements activities to improve current training programs and create new training programs Accordingly, FOF has (1) improved the specialized training program of Finance in 2021 and (2) built and developed two new specialized training programs oriented towards modern and interdisciplinary digital technology of leading universities in the US, UK, and Australia, including the major of Quantitative Finance & Risk management and the major of Finance & Corporate governance FOF's orientation is to continue to develop and pioneer the expansion of new majors following the

Deputy dean Training & quality

assurance affairs

Department of Financial Investment

Department of Corporate

Department of Monetary Finance

Deputy dean Academic & scientific

affairsFaculty Secretary

Students, Students' Association

DEAN

General affairs

FACULTY COUNCIL Advise the Dean

world's general trends and provide high-quality labor resources for the labor market not only

domestically but also regionally and internationally

Besides training activities, FOF also performs the very important task of student Besides training activities, FOF also performs the critical task of student management FOF always creates conditions and encourages, and supports students in studying, scientific research, and movement activities FOF Finance Club was established and officially operated on October 5, 2002, with the first name Securities Club This is one of the valuable playgrounds for students of the faculty and many students throughout the university to exchange, learn, and do scientific research The Finance Club, under the direction of FOF's Deans, has regularly organized many scientific research activities, movement activities, and social activities among students, becoming a traditional academic competition with top reputation for HUB students in particular and domestic economics students in general In addition, FOF also successfully organizes career orientation, scientific research, and entertainment programs for FOF

students periodically with the coordination of the Student Association and FOF's teaching staff

FOF has also proactively signed memorandums with leading financial institutions and securities companies in Vietnam, such as SSI and MBS, to create conditions to help learners maximize their abilities and achieve the best learning results through training, internship, and practice activities In January 2022, FOF cooperated with MBS securities company to introduce an experimental stock exchange at HUB to provide practical experience in stock trading activities for students majoring in

finance

In addition, in November 2023, the Finance Program was awarded a certificate by the CFA Institute, USA, as a university partner program of the Chartered Financial Analyst (CFA) Institute1 (see Figure 1.2) This demonstrates that the Finance Program is always linked to theory and practice; thanks to this, the rate of students in the Finance Program having jobs immediately after graduation is over 96%2

1 See:

https://www.cfainstitute.org/en/about/universities/university-affiliation#sort=%40titlewithfallback%20ascending&f:CountryRegion=[Vietnam]

2 According to the Report on survey results of post-graduation employment of students in the 2022 survey period No 02/BC-DHNH-KTĐBCL

Figure 1.2: Certificate for the Finance Program as the university partner of the CFA Institute

Source: Faculty of Finance

1.3 Introduction of the Self-Assessment Report

Based on the mission and vision of HUB, FOF defines the mission as follows: “FOF-HUB provides

human resources with a commitment to integrity and professionalism, conducts research with high academic and practical impact, and offers advisory and community services within the scope of our resources Through these endeavors, we actively contribute to fostering the development of Vietnam’s financial system.”

At the same time, the vision is determined: “By 2030, FOF-HUB aims to be the first choice for Vietnamese learners in financial academic programs; it aspires to become a specialized and interdisciplinary think tank, contributing to the generation of new knowledge, offering policy advisory services, and addressing challenges within Vietnam’s financial system By 2045, the reputation and

influence of FOF-HUB are expected to extend across the ASEAN region.”

To implement the Finance Program evaluation plan, HUB has established a Self-Assessment Council, Secretariat, and specialized groups to conduct self-assessment according to AUN-QA criteria at the university level according to Decision No 978/QD-DHNH dated April 18, 2023, and Consolidation Decision No 3564/QD-DHNH dated December 4, 2023, of the HUB Principal The specialized group of the Self-Assessment Council - Program of Bachelor in Finance was established with the task of establishing and implementing self-assessment of the Finance Program according to AUN-QA 4.0 criteria Members participating in the specialized groups include the FOF’s deans, faculty members,

and several officers in charge of relevant units within the university

The team leader’s task is to direct and assign the team to self-assess FOF’s training program; organize group meetings; and complete the self-assessment report to submit to the university-level Self-

Assessment Council

The task of group members is to research the content of criteria; collect information, data, and evidence; synthesize and analyze data and evidence collected and write a draft of the self-assessment

report; and complete the self-assessment report

The implementation period is from April 2023 to January 2024, divided into 4 phases:

• Phase 1: Plan with specific tasks such as establishing a Self-Assessment Council at the university and faculty level; FOF self-assessment planning; and, at the same time, learning about the AUN-QA criteria set

• Phase 2: Deploy the self-assessment process: collect and analyze evidence, interviews, and surveys to evaluate the training program according to the AUN-QA criteria set Write and edit a Self-Assessment Report

• Phase 3: Check the Self-Assessment Report, and get feedback to complete the Self-Assessment Report

• Phase 4: Complete the Self-Assessment Report, disseminate the Self-Assessment Report and

prepare for an official external assessment

PART 2: AUN-QA CRITERIA 4.0

2.1 AUN-QA Criterion 1 – Expected Learning Outcomes

2.1.1 The program to show that the Expected Learning Outcomes (ELOs) are appropriately formulated under an established learning taxonomy, are aligned to the vision and mission of the university, and are known to all stakeholders

By the AUN 2019 recommendations for The Finance Program version 2018, The Faculty of Finance (FOF) has reviewed, adjusted, and improved the version 2018 in the direction of international integration, aligning with the requirements of university development in the era of Industry 4.0 The objectives of the academics program in 2021 and the 08 program learning outcomes have been enhanced not only following the AUN 2019 recommendations but also in alignment with the mission

and vision of the Ho Chi Minh University of Banking (HUB) and the Faculty (Figure 2.1) [01.01.01] To achieve the current Expected Learning Outcomes, the Faculty has undertaken a systematic and rigorous process for the construction and adjustment (Figure 2.2) In 2021, based on the synthesis of opinions from relevant stakeholders and referencing and comparing with advanced domestic and international universities [01.01.02], the Faculty continued to refine the Program Learning Outcomes (PLOs) for the Finance major toward quantitative finance, risk or financial management, business

management, ensuring compliance with regulations under Circular No 17/2021/TT.BGDDT

[https://moet.gov.vn/tintuc/pages/tin-hoat-dong-cua-bo.aspx?ItemID=7379]

Particularly, the PLOs for the 2021 version of the Finance major have integrated knowledge, skills, and attitudes, manifested in 8 Program Learning Outcomes (PLOs) with Bloom’s taxonomy

[http://en.wikipedia.org/wiki/Bloom%27s_taxonomy], at level 4, emphasizing the ability to approach

new technologies and practical skills [01.01.03]

In 2023, the Faculty of Finance continues to review PLOs and plans to add an additional specialized outcomes to further assess students’ professional practical skills [01.01.04]

Figure 2.1: Alignment between the Learning Outcomes of the Finance curriculum and the

mission and vision of the University

Source: Training Program 2021

MISSION OF HUB

HUB provides society and the banking industry with high-quality human resources, high-impact research along with consulting services and community services HUB creates an educational ecosystem, provides lifelong learning opportunities; thrives for holistic development for students, with creativity and a spirit of serving

VISION OF HUB

HUB is oriented to become a multidisciplinary and interdisciplinary university in the group of prestigious universities in Southeast Asia HUB is a pioneer in the application of digital technology in training research and in solving interdisciplinary problems.

MISSION OF FOF

FOF-HUB provides human resources with a commitment to integrity and professionalism, conducts research with high academic and practical impact, and offers advisory and community services within the scope of our resources Through these endeavors, we actively contribute to fostering the development of Vietnam’s financial system

VISION OF FOF

By 2030, FOF-HUB aims to be the first choice for Vietnamese learners in financial academic programs; it aspires to become a specialized and interdisciplinary think tank, contributing to the generation of new knowledge, offering policy advisory services, and addressing challenges within Vietnam’s financial system By 2045, the reputation and influence of FOF-HUB are expected to extend across the ASEAN region

ACADEMIC PROGRAM OBJECTIVES

Provide fundamental knowledge of economics and in-depth, modern knowledge of quantitative finance, risk management or finance, and business administration

Develop the ability to build and implement financial plans/projects domestically and internationally, start a business, self-study, and research

PROGRAM LEARNING OUTCOME

PLO1: The ability to apply fundamental knowledge in natural and social sciences in the field of economics

PLO2: Critical thinking skills

PLO3: The ability to organize, work collaboratively, and communicate effectively in an international

integrated environment

PLO4: Demonstrating proactive and positive engagement in lifelong learning and research requirements

PLO5: Demonstrating awareness of legal compliance, professional ethics, and social responsibility

PLO6: The ability to apply foundational and in-depth knowledge systematically to solve specialized problems in the fields of finance, quantitative finance, risk management, and business administration

PLO7: The ability to participate in the development and implementation of applicable solutions in the areas of finance, quantitative finance, risk management, and business administration

PLO8: The ability to identify, grasp, and adapt to changing trends in the financial industry

Figure 2.2: Process of constructing the undergraduate training program

Source: [Evidence of building the 2021 Academic Program]

The eight Program Learning Outcomes of the Finance Program version 2021 are clearly articulated in the content of textbooks, study materials for each course, course outlines, as well as the methods of academic assessment [01.01.05] Furthermore, these Program Learning Outcomes are widely disseminated through the communication channels of the Ho Chi Minh University of Banking (HUB) to faculty, lecturers, and students [01.01.06]

2.1.2 The program to show that the expected learning outcomes for all courses are appropriately formulated and are aligned to the expected learning outcomes of the Program

The learning outcomes are allocated to the courses (Courses Learning Outcomes) in the group of general and major foundations following the overall Program Learning Outcomes Major and concentration courses and majors will align with the specialized learning outcomes of the academic program (Refer to Table 2.1) Based on the Program Learning Outcomes, the Faculty of Finance will

select general and specialized courses that align with each outcome For example, the course “Political

Economics of Marxism and Leninism” in the group of general education courses must ensure

compliance with PLO1, PLO2, and PLO3; the course “Financial Markets and Institutions” falls

within the group of major foundation courses, responsible for achieving PLO6, PLO7, and PLO8

Alternatively, the course “Financial Investment”, as a concentration course, meets the specialized

outcomes standards from PLO5 to PLO8

One Program Learning Outcome (PLO) of the academic program in a course is detailed by at least one

Course Learning Outcome (CLO) For example, in the “Financial Investment” course, PLO6 is

specified by three CLOs: (1) CLO1 - Applying fundamental issues in investment, investment methods, investment environment, and common types of investments (2) CLO2 - Analyzing macroeconomic, industry, company (3) CLO4 - Understanding derivative securities and other investment forms PLO7 corresponds to CLO3 - Executing stock and bond pricing models as a basis for investment decision-making PLO8 is specified by CLO5 - Analyzing trends, market timing, and stock prices [01.02.01] Thus, the Course Learning Outcomes of the Financial Investment course ensure suitability and compatibility with the Program Learning Outcomes

Currently, HUB and the Faculty of Finance (FOF) are continuing to improve the description, assessment, and measurement of learning outcomes for both the program, course, and lesson levels

Table 2.1: Matrix of Program Learning Outcomes and Course Learning Outcomes

1

PLO2

PLO3

PLO4

PLO5

PLO6

PLO7

PLO8 1 General Education Courses

1 Philosophy of Marxism and Leninism X X X 2 Political Economics of

Marxism and Leninism

Optional (Students choose one of two orientations; note: once a direction is chosen, the same orientation must also be selected in the foundational knowledge block)

Finance & Business

2.1 Major Foundation courses

No Course PLO1

PLO2

PLO3

PLO4

PLO5

PLO6

PLO7

PLO8

Optional (students choose to study 3 courses following 2 orientations; note: choose the orientation that matches the direction chosen in general education knowledge)

Finance & Business

Administration Orientation

29a Multinational Corporation Finance

Quantitative finance and risk management Orientation

2.2 Major courses

No Course PLO1

PLO2

PLO3

PLO4

PLO5

PLO6

PLO7

PLO8

33 Investment Project Appraisal

Quantitative finance and risk management Orientation

Optional: Students can choose to either write a thesis or opt for alternative courses

43b,c

Studying as an alternative to a graduation dissertation

No Course PLO1

PLO2

PLO3

PLO4

PLO5

PLO6

PLO7

PLO8 Optional (students choose to study 3 courses following 2 orientations; note: choose the orientation that matches the direction chosen in general education knowledge)

Finance & Business

Administration Orientation 43b.

1

Entrepreneurship in the digital age

Quantitative finance and risk management Orientation 43c.

1

Fundamentals of Actuarial Science

43c.2

Quantitative Risk Management

43c.3

Technical Analysis in the Financial Market

Source: Curriculum Description 2021

2.1.3 The program to show that the expected learning outcomes consist of both generic outcomes and subject-specific outcomes

The Finance Program version 2021 comprises eight learning outcomes, categorized into two groups: (1) Generic Learning Outcomes Group, including five outcomes: PLO1, PLO2, PLO3, PLO4, and PLO5 (2) Subject Specific Learning Outcomes Group, including three outcomes: PLO6, PLO7, and PLO8 (see Figure 2.3) Generic Learning Outcomes are related to fundamental knowledge of natural and social sciences in the field of economics, critical thinking skills, organizational ability, effective teamwork, and communication in an international integration environment They also encompass demonstrating proactiveness, enthusiasm in learning and research, managing personal resources, meeting lifelong learning requirements, and exhibiting awareness of legal compliance, professional

ethics, and social responsibility Subject Specific Outcomes pertain to the knowledge and skills of the

specialized field of study Accordingly, the 2021 revised Finance program has added courses to meet the knowledge and skills required in the 4.0 era, such as Python for data analysis, Quantitative Finance, and Technical Analysis in Financial Markets [01.03.01]

Figure 2.2: Subject-Specific and Generic Learning Outcomes of the Finance Concentration Program

Source: Curriculum 2021

2.1.4 The program to show that the requirements of the stakeholders, especially the external stakeholders, are gathered, and that these are reflected in the expected learning outcomes

The Finance concentration program consistently aligns with the vision and mission of the HUB and FOF This is verified through survey results of opinions from students, alumni, experts, and employers regarding the objectives and learning outcomes of the Finance Program - revised version 2021 Over 90% of the surveyed participants evaluate the program's objectives as quite appropriate and highly relevant to both the university's mission and societal demands, clearly defining the standards for the knowledge, skills, and attitudes that graduates are expected to achieve (Table 2.2)

Program Learning Outcomes

Generic Learning Outcomes

PLO1: The ability to apply fundamental

knowledge in natural and social sciences in

the field of economics

PLO2: Critical thinking skills

PLO3: The ability to organize, work

collaboratively, and communicate effectively in an international integrated

environment

PLO4: Demonstrating proactive and

positive engagement in lifelong learning and research requirements

PLO5: Demonstrating awareness of legal

compliance, professional ethics, and social responsibility

Subject Specific Learning Outcomes

PLO6: The ability to apply foundational

and in-depth knowledge systematically to solve specialized problems in the fields of finance, quantitative finance, risk management, and business

administration

PLO7: The ability to participate in the

development and implementation of applicable solutions in the areas of finance, quantitative finance, risk management, and business

administration

PLO8: The ability to identify, grasp, and

adapt to changing trends in the financial industry

Table 2.2: Survey Results on Program Objectives

Scale: 1: Completely Inappropriate; 2: Slightly Appropriate;

3: Moderately Appropriate; 4: Quite Appropriate; 5: Highly Appropriate

1

The program objectives are aligned with the university's mission and meet the societal requirements

0% 37.5% 62.5%

2

The program objectives clearly define the standards for the knowledge, skills, and attitudes that graduates are expected to achieve

Source: Report on the Survey of the Academic Program & Learning Outcomes of the Faculty of Finance

Survey results indicate that nearly 70% of the participants found the 8 learning outcomes (draft) of the Finance concentration, focusing on Quantitative Finance and Risk Management, to be highly essential (level 5) Outcomes 02, 06, and 08 were particularly noteworthy, with 75% - 78% of respondents rating them at level 5 This suggests a growing interest among stakeholders in critical thinking abilities, the application of foundational and specialized knowledge systematically to address challenging issues in the field of finance, and the ability to identify, grasp, and adapt to changing trends in the finance industry (Table 2.3) Additionally, participants requested additional PLO with a focus on skills such as basic Python programming and R coding skills, leadership and presentation skills, and negotiation skills in the financial industry

Based on the survey results, The academic program improved version 2021 has incorporated lifelong learning skills, critical thinking, and English proficiency into the learning outcomes Additionally, the program has introduced four technology-related courses into the curriculum [01.04.01] Thus, the

academic program version 2021 has gradually met the needs and satisfaction of learners as well as the societal requirements

Table 2.3: Survey Results on Draft PLO from Stakeholders

Scale: 1: Not Necessary; 2: Slightly Necessary;

3: Moderately Necessary; 4: Quite Necessary; 5: Highly Necessary

1

The ability to apply fundamental knowledge in natural and social sciences in the field of economics

6.3% 1.9% 71.9%

Scale: 1: Not Necessary; 2: Slightly Necessary;

3: Moderately Necessary; 4: Quite Necessary; 5: Highly Necessary

0.0% 31.3% 68.8%

6

The ability to apply foundational and in-depth knowledge systematically to solve specialized issues in the field of finance

Source: Report on the Survey of the Academic Program & Learning Outcomes of the FOF

2.1.5 The program to show that the expected learning outcomes are achieved

by the students by the time they graduate

Students are recognized for the completion of the Finance Concentration Program when they meet the following requirements: (1) Accumulating the required courses and study workload (2) Maintaining a cumulative grade point average of 5 or higher on a 10-point scale (3) Fulfilling the standards for foreign language proficiency, computer skills, and extracurricular grades [01.05.01]

In 2023, following the plan to enhance the 2021 Finance training program per the AUN 4.0 orientation, HUB has scheduled the development and issuance of guidelines for assessing study performance based on PLOs [01.05.02] Accordingly, the Faculty of Finance has planned and measured the achievement level of the 25 learning outcomes of the academic program version 2018 for graduates in 2022 and 2023 (Table 2.4)

Table 2.4: Achievement Levels of Expected Learning Outcomes (ELOs) for Graduate in 2022 and 2023

Knowledge Understanding of political theory PLO1 2.17% 21.74% 52.17% 23.91%

Understanding of law PLO2 0.00% 17.39% 50.00% 32.61%

knowledge in accounting PLO7 0.00% 17.39% 41.30% 41.30% Understanding the principles of

monetary and financial economics, public finance, financial institutions, and markets

PLO8 0.00% 0.00% 41.30% 58.70%

Understanding the knowledge in

economic mathematics PLO9 0.00% 23.91% 45.65% 30.43% Understanding of specialized

knowledge in banking and insurance

PLO10 0.00% 10.87% 45.65% 43.48% Understanding of specialized

knowledge in corporate finance and financial investment

skills in economic and financial data

PLO15 0.00% 4.35% 54.35% 41.30% Problem-solving skills in the

field of finance PLO16 0.00% 15.22% 45.65% 39.13%

PLOs ELOs

Forecasting skills; serving the analysis, valuation, and decision-making in financial investment

PLO17 0.00% 21.74% 50.00% 28.26% Skills in using foreign languages

and information technology in the field of finance

PLO18 0.00% 19.57% 56.52% 23.91%

Professional Attitude

Caution, honesty, adherence to professional ethical standards, and community awareness

PLO19 0.00% 0.00% 28.26% 71.74% Progressive, proactive,

passionate commitment, and positive mindset

PLO20 0.00% 2.17% 30.43% 67.39% Perseverance, seriousness, and a

collaborative spirit in work PLO21 0.00% 2.17% 26.09% 71.74%

Professional practical skills

Evaluate the financial market PLO22 0.00% 21.74% 43.48% 34.78% Assess the financial situation of

Evaluate financial products PLO24 0.00% 19.57% 43.48% 36.96% Plan and implement financial

management for entities in the economy

PLO25 2.17% 21.74% 47.83% 28.26%

Source: Report on the Survey of the Academic Program & Learning Outcomes of the FOF (2023)

2.2 AUN-QA Criterion 2 - Program Structure and Content of Program

2.2.1 The specifications of the program and all of its courses are shown to be comprehensive, up-to-date, made available and communicated to all stakeholder

The program specifications of the Finance concentration program provide comprehensive information about the program’s objectives and the entire structure of the academic program In comparison to previous versions, the current program description adequately reflects all contents within the prescribed format [02.01.01] Information about the Finance concentration program includes the name of the institution: Ho Chi Minh University of Banking; program name: FINANCE; degree: Bachelor of Finance and Banking, Major in Finance; training mode: full-time; duration: 3.5 - 4 years; admission criteria; expected learning outcomes of the program; total credits: 124 credits; graduation requirements; grading scale; and compliance with the CFA Institute standards [02.01.02]

All courses are designed to help students achieve learning outcomes at various levels Course descriptions follow a standard template set by the university, including the following details: course name (in Vietnamese and English), course code, credit hours covering theory, practical work, and self-study credits; course prerequisites; course description; expected learning outcomes aligning with the

program’s learning outcomes; course structure and content; assessment methods; course materials, including textbooks and references; approval date; and approving authority [02.01.03]

The description of the curriculum and the syllabus of each course are updated regularly according to the regulations of the Ministry of Education and Training and of HUB, and the latest update of the curriculum description was in 2021 according to the plan of reviewing, evaluating, and updating the curriculum of the recommendation of AUN-QA The process is carried out in the following 6 steps: (1) Adjust the curriculum (if the evaluation criteria indicate that adjustment is necessary); (2) Adjust or supplement the course syllabus; (3) Approve the adjustment content at the Faculty’s Science and Academic Council; (4) Send the adjustment dossier to the Department of Academic Affair; (5) The Academic Affair Department checks the validity and completeness of the dossier and submits it to the HUB’s Science and Academic Council for approval; (6) The HUB’s Science and Academic Council reviews, approves the adjustment and update content and submits it to the Rector for issuing the amended and supplemented curriculum [02.01.04: Regulations on reviewing and editing the curriculum of HUB]

The program specification version 2021 was adjusted, supplemented, and updated with new content The program objectives were revised to include both generic and specific objectives, reducing the number of outcomes from 11 to 8 The matrix of response between the objectives and outcomes of the curriculum was established under the regulations of the National Qualifications Framework of Vietnam and the outcomes of the courses The relationship between outcomes and teaching methods and evaluation methods, as well as between the knowledge blocks and outcomes of the curriculum, was also defined The credit hours for the whole program were reduced from 129 credits to 124 credits (excluding the courses of Physical Education and National Defense Education, the enhanced courses) The program was restructured, and the course content was updated The elective courses were restructured into two main directions: Finance & Business Administration or Quantitative Finance & Risk Management The forms of process testing and course final exams were diversified Elective courses mainly on business administration and risk management were added to the group of major foundation, major, and concentration courses The names of some courses were adjusted to suit, and the presentation form was edited The detailed training plan was designed according to each semester, and the prerequisite courses and concurrent courses for each course were clearly identified The admission criteria, training process, and graduation conditions were clearly defined [02.01.05]

All information related to the curriculum and the course description are posted online on the website

of HUB [https://hub.edu.vn], and the website of the Faculty of Finance [https://khoatc.hub.edu.vn]

Therefore, stakeholders such as high school students, families or employers, and partners can easily access the relevant information In addition, internal stakeholders such as students, lecturers, and managers can also find information when needed

2.2.2 The design of the curriculum is shown to be constructively aligned with

achieving the expected learning outcomes

The Faculty designed the curriculum to meet the requirements of the expected learning outcomes in terms of knowledge, skills, autonomy and responsibility The current curriculum is based on the program that was assessed by AUN-QA in 2018 and was revised, supplemented and issued in 2021 It is designed with 8 outcomes standards with full outcomes standards on knowledge, skills, professional practice ability and compliance with the general guidance of the school with outcomes standards from 1 - 5 applied uniformly for all programs (on basic knowledge, critical thinking, teamwork skills, autonomy, responsibility and lifelong learning ability as well as awareness of law compliance, professional ethics) and outcomes standards 6 - 8 are built with the specific characteristics

of Finance concentration program (related to the ability to apply basic and in-depth knowledge systematically to solve professional problems in the field of finance, quantitative finance, risk management and business administration, the ability to participate in building and developing application solutions in the field of finance, the ability to recognize, grasp and adapt to the changing trends in the field of Finance) [02.02.01]

The selection of teaching and learning methods is based on the orientation of HUB’s educational

philosophy of “Liberal Education - Interdisciplinary - Experience” Accordingly, the syllabus has

specific regulations on theoretical teaching, including individual discussions of learning content and duration, and methods of doing individual exercises The combination of teaching, learning, testing/evaluation methods of learners’ learning outcomes of all courses in the program is selected appropriately, effectively supporting the achievement of the PLOs More specifically, the teaching, and learning methods are selected and arranged into the courses, all aiming to achieve the learning outcomes in the order of the learning plan from semester 1 to semester 7 to be able to perform the Final Internship and complete the Graduation Thesis in semester 8 Thanks to the clear and measurable PLOs, the curriculum of the Finance concentration has been operated effectively over the years, has a system and has unanimity between faculty to faculty, between the faculty and the University and between the lecturers and students The curriculum has focused on the logic of the courses in the program, to ensure that learners can access the knowledge from basic to in-depth, from the broad field to the narrow specialized knowledge corresponding to the increasing level of the PLOs

The methods of evaluating the study performance of learners of all courses in the curriculum are clearly built into the process and end-of-course evaluation to implement and evaluate the level of meeting the PLOs of the academic program that have been allocated to the course 100% of the courses have a uniform evaluation ratio according to the regulations: attendance and learning attitude weigh 10%, individual test/case study exercises weigh 20%, individual/group essays and/or presentations have a weight of 20%) and end-of-course evaluation has a weight of 50% Each evaluation method is described in the syllabus of each course, including the evaluation component, content, evaluation method, and the evaluation rubrics of each component The organization of the process and end-of-course evaluation is carried out by the Faculty of Finance according to the process of planning - organizing implementation - testing, evaluation - adjustment The form, and method of evaluating the learning process of students, in addition to being regulated in the regulations, general regulations of HUB, and in the detailed syllabus of each course All evaluation components of the course, and evaluation methods must meet the CLOs of the course that have been allocated from the PLOs of the program [02.02.02].

2.2.3 The design of the curriculum is shown to include feedback from stakeholders, especially external stakeholders

The process of designing and developing academic programs of HUB is carried out according to the ISO process with planning, collecting opinions of stakeholders, analyzing results and proposing corrective actions, improving quality [02.03.01] The Finance Program was built based on the contributions of stakeholders including the State’s policies (Decrees, Circulars of the Ministry of Education & Training), employers, HUB’s regulations (educational philosophy, vision, mission, development orientation), students, alumni and lecturers, staff/employees of HUB

The Faculty of Finance organizes regular seminars to discuss and receive feedback from stakeholders

[02.03.02] The feedback is important in improving the quality of academics and support services

Students evaluate the quality of teaching of lecturers; the quality of the courses; feedback on PLOs and academic programs; and evaluate the level of satisfaction with the support service through the

questionnaire [02.03.03] The survey of former students on the employment situation after graduation

and employers on the quality of students is also a valuable input factor in designing, and adjusting the academic program of the Faculty [02.03.04] The faculty members play an important role in building

PLOs and academic programs as well as reviewing the feedback of stakeholders In the academic meetings of the Faculty, lecturers discuss, and share information related to improving the teaching program, teaching methods, testing, and evaluation [02.03.05]

The Faculty organizes surveys and seminars to obtain feedback from stakeholders This feedback is then used to adjust the Program Learning Outcomes (PLOs) and academic program The activity of receiving feedback information and the needs of stakeholders has helped improve the quality of the program, the method of organizing and conducting the curriculum, and providing graduates who meet practical needs and labor market demand Based on the feedback information of the stakeholders, the PLOs of the Finance Program version 2021 were updated and improved to enhance the development of skills for students to meet the practical requirements of society and the needs of stakeholders, as shown in Table 2.5 below

Table 2.5: Contributions of stakeholders to the PLO of the Finance training program

Employer

Demonstrate compliance with the law, professional

1

Ability to participate in building and developing application solutions in finance, quantitative finance, risk management, and business administration

PLO7

Ability to recognize, grasp, and adapt to changing trends

2

Alumni

Ability to organize, work in teams, and communicate

effectively in an international integration environment PLO3 Capacity to propose solutions to problems in the financial

3

Ability to apply basic knowledge of natural and social

Ability to organize and work effectively in teams PLO3

Experts/Lecturers

Ability to organize and arrange work, ability to independently research and create innovative solutions to meet lifelong learning requirements

PLO4

Ability to recognize, grasp, and adapt to changing trends

Good application of legal knowledge, compliance with

the law, professional ethics, and social responsibility PLO5

No Stakeholders Comment Contribute to the PLOs

4

Students

Dynamic and adaptable to changes in the financial and

Learning awareness and self-study, proactive in learning,

ability to self-research and manage personal resources PLO4 Basic knowledge of natural and social sciences in the

Source: Stakeholder Survey on Academic Program 2021 [02.03.06]

In addition, the Finance Concentration Program version 2021 has been consulted and compared to the academic programs of several prestigious universities in the country and around the world These universities include Ho Chi Minh City University of Economics and National Economics University Hanoi, which are both prestigious and reputable schools in the field of economics in general and Finance-Banking in particular in Vietnam The program was also compared with the Bachelor of Finance program of Adelaide University (Australia) and the Bachelor of Finance Program of Hong Kong University (HKU) These universities are all highly ranked in the world and have a cooperative relationship with Ho Chi Minh University of Banking In particular, HUB has compared the program and signed a cooperation agreement with Griffith University - Australia Students who have completed 2 years at HUB can be considered to continue studying the program of Griffith Moreover, the program is certified by CFA as a partner program of CFA in Vietnam All of the above have helped the Finance Program of FOF ensure modernity, high applicability, and create strengths of advancement and flexibility compared to other programs [02.03.07].

2.2.4 The contribution made by each course in achieving the expected learning outcomes are shown to be clear

Each course in the Finance Concentration Program version 2021 provides learners with knowledge, skills, and opportunities to practice autonomy and responsibility through content, learning activities, and research All PLOs of the program are met through CLOs of the courses, which are evenly distributed from general to specialized with increasing complexity The courses belonging to the general education and major foundation knowledge block mainly meet PLOs 1-5, with the number of courses contributing to the PLOs ranging from 17 to 20 courses PLOs 6-8 are mainly met by the courses belonging to the professional and specialized knowledge block with the PLOs allocation for 27 to 38 courses (details in Table 2.1 & 2.6)

Table 2.6: Number of courses (compulsory, elective) contributing to the PLOs of the academic program

PLOS of the training

The number of courses (required, elective) contributing to PLOS

Source: Self-synthesis

The courses are arranged reasonably to ensure that learners achieve the PLOs of the academic program The learning plan fully shows the progress of the courses in achieving the PLOs of the program The courses in the program are designed in a mutually supportive manner to ensure the achievement of the PLOs of the program, which is clearly shown in the program tree of the Finance program For example, PLOs 6 - 8 are taught throughout the courses belonging to the major foundation, major to concentration knowledge block The minimum level of achievement of the PLOs is arranged reasonably according to the learning sequence If the level of achievement of the PLOs of the course is 3 in major courses, then the courses belonging to the concentration group are raised to 4 and 5 and closely follow the PLOs of the academic program [02.04.01].

By integrating various teaching and learning methods along with extracurricular activities, learners can acquire and develop knowledge, skills, and attitudes to achieve all the PLOs of the program The identification of teaching and learning methods, evaluation methods that are appropriate and support each other best, ensures the achievement of PLOs In all courses, the syllabus shows the combination of teaching and learning methods that are clearly defined, corresponding to the CLOs of the course The syllabus is designed with a matrix of course contributions to the PLOs of the program and the level of achievement according to Bloom’s taxonomy It also has a combined matrix table showing the evaluation components for each CLO of the course according to the weight of the evaluation component (details in Table 2.7)

Table 2.7: Illustrates the matrix of course contribution to the PLOs of the academic program It also shows the evaluation method with each PLO in the syllabus of the Portfolio

Management course of the Finance Concentration Program Code of program

learning outcomes

Code of course learning outcomes

Assessment components Assessment methods Course learning

A.1 Process assessment

A1.1 Attending to a class, a student will have opportunities to raise their hand, express opinions

A1.2 Presentation and group

A 1.3 Midterm exam CLO1, CLO2, CLO3,

A.2 Final assessment A.2.1 Final exam (individual) CLO2, CLO3 50%

Source: Syllabus of portfolio management

2.2.5 The curriculum to show that all its courses are logically structured, properly sequenced (progression from basic to intermediate to specialized courses), and are integrated

The courses in the curriculum are structured to ensure cohesion and continuity between the general education, major foundation, major, and concentration courses, making the program a unified block The current Finance Concentration Program consists of 124 credits (excluding Physical Education and National Defense Education courses and enhancement courses), divided into two groups of knowledge: general education and professional education These blocks of knowledge have a structure and weight that comply with the HUB’s guidance, as shown in the description of Table 2.8

Table 2.8: Structure of the high-quality undergraduate training program in Finance and Banking

Source: Curriculum Description 2021

All courses in the curriculum are arranged reasonably, with the number of general education courses not exceeding 20% and the courses of professional education knowledge block accounting for about 80% of the total credit of the program The design of the curriculum is based on enhancing the professional knowledge of students, helping them acquire more in-depth and practical knowledge, and ensuring that students can adapt to the labor market right after graduation

The sequence of courses is identified in the academic plan and program tree, in which the prerequisite/co-requisite courses are identified appropriately to ensure the provision of common foundation knowledge for the entire academic program, while also ensuring the provision of knowledge for the next course to increase the inheritance between courses The entire curriculum thus avoids the situation of students violating the prerequisite courses but still creates opportunities for students to study advanced courses or re-study in the most convenient way [02.05.01]

The current academic program is logically combined with the HUB’s strengths and new, advanced, modern courses The program builds a foundation throughout the blocks of knowledge with courses that are considered the spearhead and tradition of the Faculty of Finance, such as Corporate Finance, Corporate Financial Analysis, Financial Investment, Portfolio Management, and Investment Banking At the same time, the program integrates many updated and separate courses, such as Social Media Analytics, Applied Algorithms in Business, and Python for Data Analysis These courses aim to equip students with knowledge and skills that are adapted for the digital transformation in the finance and banking industry

2.2.6 The curriculum to have option(s) for students to pursue a major and/or minor specializations

The Finance concentration helps students to work in the fields of Finance, Banking, and other related fields in the economy From there, students can easily continue to study at higher levels of education

(enroll in Master’s programs) or switch to other majors in the field of business and management

To help learners diversify their knowledge access and personalize their learning process according to their needs and abilities, the curriculum has been designed to increase the number of elective courses to over 20 These courses are divided into two directions: Finance and Business Administration or Quantitative Finance and Risk Management The elective courses are offered throughout the program, from general education to major foundation, major and concentration courses The choice of major/minor according to each direction is implemented by the faculty and the university through career counseling sessions at the beginning of the academic year for students During these sessions, the faculty leaders, the academic affairs department, and related departments answer the students’ questions to help them understand more about each major and make a decision that suits their characteristics [02.06.01]

2.2.7 The program to show that its curriculum is reviewed periodically following an established procedure and that it remains up-to-date and relevant to

industry

The curriculum is reviewed, adjusted, supplemented, and updated at least once every two years according to the regulations of the Ministry of Education & Training (Circular 07/2015 and Circular 17/2021), as well as the recommendations of AUN-QA The HUB’s system of regulations on building, reviewing, adjusting, and evaluating the academic program is also considered From these cornerstones, detailed procedures related to the design, development, monitoring, review, evaluation, approval, and issuance of the curriculum are formed and implemented in each period [02.07.01]

Based on the process, HUB has made improvements to the curriculum Specifically, the curriculum in the academic year 2014-2015 and 2018-2019, which had 129 credits, was adjusted to 125 credits from the academic year 2020-2021 Based on feedback from stakeholders both internally and externally, this 125-credit curriculum was selected and supplemented with six new elective courses to help learners choose according to different career orientations (Finance & Business Administration Orientation with traditional approach and Quantitative Finance and Risk management Orientation with

modern approach) According to the modern approach, students will choose courses that focus on applying digital technology such as data mining and analytics, and quantitative techniques in finance to make decisions

In addition, the program also supplements the Introduction to Finance course taught in the third semester to provide a full picture for students regarding their future careers and help students choose the appropriate courses in the following semesters Some courses have been adjusted by replacing and changing credits from 2018 to 2021, in which some courses of the program have enhanced the use of English materials, textbooks, soft skills, teamwork, reduced credits and eliminated, replaced some courses [02.07.02], The syllabus is required to improve, ensure the connection with the PLOs of the academic program; teaching-learning methods, testing and evaluation are also improved towards helping learners achieve PLOs [02.07.03]

When designing the curriculum, the faculty compared it with advanced academic programs both domestically and internationally to ensure flexibility and integration Additionally, they collected opinions from stakeholders, including experts, employers, alumni, lecturers, and students Feedback from stakeholders contributes to ensuring the curriculum is updated and meets the increasing requirements of the labor market [02.07.04]

2.3 AUN-QA Criterion 3 - Teaching and Learning Approach

The teaching and learning method is one of the crucial factors influencing the quality of education in an academic program The well-designed teaching and learning method will not only facilitate the communication and realization of the mission, vision, educational philosophy, and objectives, but also assist lecturers in effectively delivering subject content to students Simultaneously, it aims to encourage students to actively engage in the learning process, fostering comprehensive development and instilling lifelong learning abilities

2.3.1 The educational philosophy is shown to be articulated and communicated to all stakeholders It is also shown to be reflected in the teaching and learning activities

The educational philosophy is clearly stated The educational philosophy of the Faculty of Finance is

“Liberal Education - Interdisciplinary - Experience” [03.01.01] which is built on the educational

philosophy of the HUB The educational philosophy of “Liberal Education - Interdisciplinary -

Experience” is clearly stated in the development strategy of HUB until 2030 and vision to 2045 [03.01.02]

The educational philosophy is communicated to the stakeholders through various channels It is officially approved by all faculty members [03.01.03], documented in official records [03.01.04], and announced on the Faculty's official website [03.01.05] The dissemination process involves reaching out to staff, lecturers, and employees through regulations related to the adjustment, review, and updating of the program Additionally, the educational philosophy of HUB is shared with stakeholders through communication and admission consulting activities of HUB [03.01.06] These philosophies are integrated into the content of the courses within the program during the processes of building, reviewing, and updating the Finance program [03.01.07]

The educational philosophy is understood by all the staff, lecturers, and learners of HUB and is conveyed in the teaching and learning activities The educational philosophy is clearly and concisely stated; at the same time, the messages contained in the educational philosophy have been conveyed and concretized into the objectives, content of the program, and course outline This has helped all the

staff, lecturers, and learners to understand and implement the educational philosophy through the teaching and learning activities, specifically:

• “Liberal Education”: “HUB creates an educational environment that helps learners to discover their potential; acquire deep professional knowledge of the field of study based on comprehensive general knowledge; develop intellectual abilities and personal skills; shape positive life values towards educating self-reliant, creative, responsible citizens” The Finance concentration program is designed and built with 02 groups of subjects, including the group of subjects related to the finance major and the group of general education, thereby helping students not only to have deep professional knowledge and skills in Finance; but also to have general knowledge in natural science, economics and society, politics, laws, technology In the program version 2021, the series of elective courses formed two directions, namely Finance and Business Administration and Quantitative Finance and Risk Management, each student can choose the appropriate combination of elective subjects according to their qualities, abilities, strengths, preferences to liberate their abilities according to their characteristics [03.01.08]

self-• “Interdisciplinary”: “HUB aims to train people with interdisciplinary knowledge to avoid biases in decision making, increase the ability to connect experts, and open up employment opportunities” The program of the Finance concentration is designed with many subjects that have content integrated with many professional fields, which equipped students with interdisciplinary knowledge between finance and accounting, law, management, and digital technology … [03.01.09] HUB has regulations and encourages students to study two majors simultaneously to be granted two bachelor’s degrees Finance concentration also has a lot of opportunities to assimilate knowledge from many academic clubs and competitions of other faculties such as: Business Administration, Accounting and Auditing, Economics Laws, Management Information Systems…

• “Experience”: “HUB implements the educational model of “growing through experience” Through experience, learners have a deeper understanding of the theory, form practical thinking, execution ability, and thus adapt and improve with the environment” Which, the program of the Finance concentration is designed not only to provide students with theoretical foundations of academic nature; but also, to equip students with practical knowledge and skills With the Finance Concentration Program, students can experience real trading in the stock market through the software “Stock Investment Practice at the Experimental Stock Exchange” sponsored by the Military Bank Joint Stock Company The students’ experience is also promoted through the process of doing the final internship, and graduation thesis Students can experience the real business operations related to the field of finance at the internship unit and write the graduation internship report [03.01.10]

2.3.2 The teaching and learning activities are shown to allow students to participate responsibly in the learning process

The construction of teaching and learning methods based on the content of each course and PLOs of the Finance concentration program is an allocated course In addition to the traditional approaches in teaching and learning such as applying the lecturing method, exchanging and/or group discussion;

lecturers also apply many approaches in teaching and learning “learner-centered” through modern

learning methods of the 21st century such as the flipped classroom model, case study-based learning, Problem solving-based learning Students are assigned tasks in the process of self-study, reading the lecture slides, textbooks/reference materials, performing situational exercises, individual/group essays, and/or preparing presentations in the learning process of all subjects in the program [03.02.01]

Periodically, teaching and learning activities are monitored through class observation and learner evaluation, as a basis for review and adjustment [03.02.02] These activities have helped learners to participate in the learning process actively and responsibly

2.3.3 The teaching and learning activities are shown to involve active learning by

the students

The academic plan is designed in the program according to each semester, academic year, and selected directions [03.03.01] At the beginning of each semester, the University announces the specific schedule, and students, depending on their study plan, can actively register for the most suitable schedule [03.03.02] The credit-based system of HUB also helps learners to be active in

self-building an appropriate study plan through the credit registration system [03.03.03] The academic

plan and schedule are built and consulted by lecturers and students before being issued, reviewed and evaluated annually to ensure the best support for teaching and learning activities [03.03.04] The

teaching and learning activities are built and implemented with many forms of direct and online combination [03.03.05] to make the training process more flexible The E-Learning system such as

LMS, Wi-Fi, and online library also contributes to the teaching and learning process towards creating conditions for learners to be active in the learning process [03.03.06]

2.3.4 The teaching and learning activities are shown to promote learning, learning

how to learn, and instilling in students a commitment to life-long learning

Intending to help learners to have the ability to self-study for life, in addition to traditional teaching methods such as lecturing, and group discussion; all courses of the Finance Concentration Program also focus on modern approaches in teaching and learning as mentioned in 2.3.2 This helps students to improve their critical thinking and problem-solving skills, communication and presentation skills, independent and teamwork skills, self-study, and self-research skills, thereby forming a culture of

“lifelong learning” [03.04.01]

Students of the Finance concentration after bachelor graduation with the knowledge, skills and attitudes equipped can continue the learning process to higher levels [03.04.02]or work in practice with positions suitable for their expertise (Figure 2.4)

Figure 2.3: Development orientation diagram of students of the Finance major

Participating in scientific research activities helps students improve their ability to search, collect, analyze, and process data - one of the crucial skills in lifelong learning HUB and FOF organize scientific research activities annually, specifically in October The Institute of Banking Science and Technology Research (HUB) coordinates student registration for these activities [03.04.03] Based on the registered students' list, the faculty assigns lecturers to become the supervisor [03.04.04] Furthermore, adhering to scientific research regulations and the Union's proposals, the Institute conducts research contests for students It has clear reward policies, including cash prizes and certificates for high-quality scientific research These incentives aim to encourage students to enhance their knowledge, skills, and self-learning capabilities [03.04.05] Additionally, HUB collaborates with the Faculty to support students in scientific research through seminars, workshops on soft skills training, and more [03.04.06]

The teaching and learning activities across all courses in the Finance program are designed to promote skills and enhance students' lifelong learning abilities Graduates not only achieve the Program Learning Outcomes (PLOs) of the Finance concentration but also develop the ability to self-study and conduct independent research, enabling them to adapt effectively to changes in the business, economic, and social environments, especially in the evolving technological landscape of the digital age [03.04.07]

2.3.5 The teaching and learning activities are shown to inculcate in students, new

ideas, creative thought, innovation, and an entrepreneurial mindset

Entrepreneurship support activities: HUB collaborates with businesses to conduct creative and innovative initiatives for students Businesses actively participate in guiding students to start their ventures, fostering a spirit of innovation and creativity [03.05.01]

International cooperation in training: The expansion of relationships with universities, both domestically and internationally, is pursued comprehensively by signing Memorandums of Understanding (MOUs) for cooperation and importing training programs Currently, the Faculty has entered into a cooperation agreement with the CFA Institute This agreement underscores that the Bachelor of Finance and Banking Program, with a major in Finance at the Banking University of Ho Chi Minh City, incorporates at least 70% of the knowledge from the CFA Program Candidate Body of Knowledge (CBOK) The recognition from the CFA Institute affirms HUB’s commitment to delivering financial education programs that adhere to international standards and are globally accepted [03.05.02]

2.3.6 The teaching and learning processes are shown to be continuously improved to ensure their relevance to the needs of the industry and are aligned to the

expected learning outcomes

The Finance Concentration Program undergoes regular reviews, updates, supplements, and adjustments to align with the demands of the labor market Content adjustments are fully and systematically implemented based on a survey of labor market needs, encompassing the review and adjustment of Program Learning Outcomes (PLOs), structure, content, and teaching and learning methods [03.06.01]

The Faculty of Finance conducts seminars titled 'Consulting Opinions on Developing the Academic Program' to gather feedback from stakeholders This includes representatives from recruitment organizations, lecturers involved in teaching, former students, and current students The results from these seminars serve as the foundation for reviewing and enhancing the Finance Concentration

Program, ensuring its relevance to labor market needs and alignment with the expected learning outcomes [03.06.02]

The Faculty relies on feedback from learners, lecturers, alumni, and employers gathered through the HUB’s annual survey system—a crucial information channel This feedback is instrumental in reviewing, adjusting, and improving teaching and learning methods to achieve Program Learning Outcomes (PLOs), stay abreast of new trends, and ensure the quality of teaching and learning activities

[03.06.03]

Additionally, the Faculty conducts reviews and updates of the syllabus through academic meetings and seminars dedicated to teaching and learning activities [03.06.04] Notably, since 2019, following

the recommendations of the external AUN-QA assessment team [03.06.05], the Finance

Concentration Program has been subject to thorough review and improvement This process aims to maintain strengths and overcome limitations, with enhancements to content, teaching and learning methods, as well as testing and evaluation methods in the subjects - all geared towards promoting the practice of skills and enhancing lifelong learning abilities

Table 2.9: Comparison of teaching and learning activities aimed at enhancing lifelong learning ability for students of the training program 2014, 2019, and 2021

ACADEMIC PROGRAM 2014

ACADEMIC PROGRAM 2019

ACADEMIC PROGRAM 2021

Maintained strengths

(similarities)

100% of the syllabus clearly describes the use of teaching and learning methods Additionally, the entire syllabus outlines self-study activities designed to enhance lifelong learning skills for students Furthermore, instructors employ appropriate teaching activities and methods to support learners in practicing skills and enhancing lifelong learning abilities

Improved points

(Differences)

Most syllabi only provide an overview of self-study or self-research activities to support students in practicing skills and enhancing lifelong learning abilities

Most syllabi not only provide an overview but also detail specific self-study or self-research activities aimed at supporting students in practicing skills and enhancing lifelong learning abilities

Most syllabi not only provide an overview but also describe in detail specific self-study or self-research activities aimed at supporting students in practicing skills and enhancing lifelong learning abilities Additionally, teaching and learning methods are detailed in each chapter of the course to further support students in practicing skills and enhancing lifelong learning abilities

has implemented an experimental stock exchange for Finance students [03.06.08] The Faculty also

prioritizes the innovation of teaching methods for lecturers Annually, faculty members attend seminars, conferences, and training courses focused on improving the methods of developing training programs and syllabi to meet Program Learning Outcomes (PLOs), refining methods of testing and evaluating students, and enhancing teaching methodologies [03.06.09]

To strengthen the faculty's ability to teach in English, HUB has implemented various policies to encourage lecturers to improve their English proficiency and teach in English, including supporting part of the tuition fees [03.06.10]

2.4 AUN-QA Criterion 4 - Student Assessment

2.4.1 A variety of assessment methods are shown to be used and are shown to be

constructively aligned to achieving the expected learning outcomes and the teaching and learning objectives

The evaluation of learners’ academic performance constitutes a crucial aspect of the teaching process for a subject/course within the academic program Consequently, after the enrollment of the new intake, students are expressly informed about the content and requirements for assessing their academic progress aligned to the expected learning outcomes and objectives of the Finance Program

[04.01.01] The selection and application of the assessment methods for learners’ academic

performance are guided by the specific expected learning outcomes and objectives of each course The Faculty of Finance, under university evaluation processes and plans, has systematically implemented the assessment of academic performance for students enrolled in the Finance Concentration Program To ensure the attainment of expected learning outcomes, a diverse range of evaluation forms and methods are employed consistently throughout the students' learning journey The evaluation process encompasses various stages, including admission assessment, foreign language and computer proficiency assessment, ongoing process and end-of-course evaluation, final internship evaluation, and graduation thesis evaluation

• Admission assessment: Criteria, methods, registration conditions, and the determination of

admission scores for the Finance Concentration Program adhere to the regulations set forth by the Ministry of Education and Training These specifications are outlined in the Enrollment Project and Enrollment Notice of Undergraduate Full-Time Programs issued by HUB

[04.01.02]

• Foreign language and computer proficiency assessment: HUB follows a well-defined

process for assessing the foreign language and computer proficiency levels of students in the Finance Program, starting from the admission stage This assessment aids students in understanding their current proficiency levels, allowing them to plan their studies to achieve the expected learning outcomes and fulfill graduation requirements as outlined in the Finance Concentration Program During the first week of the Orientation Course, students are briefed on the process, conditions, and methods of foreign language and computer proficiency assessment The Language and Informatics Center of HUB conducts this assessment, and all relevant information is clearly outlined in the student handbook and publicly accessible on HUB’s website [04.01.03] For English proficiency graduation requirements in the Finance Program, a

minimum level of 3 on the 6-level Vietnamese Standardized Test of English Proficiency (VSTEP) or an equivalent international English certificate is mandatory Similarly, computer proficiency requirements necessitate certificates that validate the students' proficiency level, as prescribed in the PLOs of the academic program The Language and Informatics Center of HUB

regularly organizes English and computer proficiency certificate exams for students meeting the graduation requirements [04.01.04], [04.01.01]

• The evaluation of the process and completion of the course: The evaluation of the process

and completion of the course for students in the Finance Program has an apparent plan Specifically, the process evaluation (accounting for 50% with three columns including attendance and personal statement, presentation and group discussion, and midterm exam), is undertaken by the lecturers who are in charge of the course For the end-of-course evaluation (accounting for 50%), the student evaluation is carried out by the Examination and Quality Assurance Department in coordination with the Faculties/Departments and functional units of HUB The evaluation methods for the component columns and the final exam column are mentioned in the syllabus (Rubrics evaluation regulations) [04.01.05]

• Internship and Graduation Thesis Evaluation: As the plan for the whole university, the

Faculty of Finance conducts periodic end-of-course internships and graduation thesis assessments for students in the Finance Program (typically 4 to 5 times per year) The evaluation process for these components is meticulously planned, with detailed methods specified in the syllabus for both modules [04.01.06] For the internship course, evaluation is performed by two lecturers proposed by the Faculty and approved by the Rector Results are based on the internship process, including feedback from the internship unit and the instructor, as well as the content of the internship report Students are required to submit a comprehensive internship report with a logbook containing comments from both the internship unit and the instructor [04.01.07] Regarding the Graduation Thesis Evaluation, in addition to assessment by the instructor and a reviewer proposed by the Faculty and approved by the Rector, students are also required to defend their graduation thesis before the Graduation Thesis Evaluation Council The establishment of this council is approved by the Rector upon the Faculty's proposal [04.01.08] The evaluation results for the graduation thesis course are documented in an evaluation form, assigning scores for each criterion under the university’s regulations [04.01.09]

The Examination and Quality Assurance Department has established regulations on assessment and evaluation, along with instructions for developing suitable assessment and evaluation methods aligned with the attained level of learning outcomes [04.01.10] Additionally, the department has conducted numerous training sessions for officers and lecturers, focusing on the design of assessment and evaluation methods/tools that are well-suited for the objective of the assessment/evaluation, as well as the CLOs level of the course [04.01.11]

To ensure graduates attain the expected learning outcomes of the Finance Concentration Program encompassing knowledge, skills, and attitude with high reliability, a variety of activities and assessment methods are strategically designed to evaluate students’ academic performance in each module and throughout the learning process These methods include a combination of exams/tests, featuring multiple-choice or essay questions, as well as problem-solving/scenario exercises, projects, and in-person or online presentations This multifaceted approach allows instructors to assess students’ knowledge, attitude, and skills effectively [04.01.12] Furthermore, to uphold fairness in the evaluation of exams/tests, specific rating scales are employed, aligning with the Program Learning Outcomes (PLOs) of the subject Annually, HUB implements a plan for the revision, supplementation, and new construction of the end-of-course exam question bank, conducted twice a year Exam Questions Bank of modules in the Finance Program is composed of Faculties/Departments, ensuring compatibility with the CLOs of the module and aligning with the levels of Bloom’s taxonomy These

questions are subject to approval by the question bank evaluation council before implementation

related to academic performance evaluation

Students in the Finance Concentration Program receive comprehensive information on the regulations and procedures for appealing academic performance results at the beginning of each course/semester/subject, starting from the first week of the freshman life course This information is also clearly presented in the student handbook distributed to each student Additionally, these regulations and procedures are publicly accessible on the website of the University and the Faculty Moreover, the forms necessary for appealing academic performance results (exam scores at the end of the course) are also publicly available on the website of the Examination and Quality Assurance Department [04.02.02]

The appeals related to academic performance are always promptly and satisfactorily processed For process evaluation, in the event of student questions or complaints about their scores, instructors respond immediately during the announcement of evaluation results in class or via email before entering the scores into the system In the case of end-of-course evaluation complaints, students have the right to submit an appeal application to the Examination and Quality Assurance Department The re-evaluation process is conducted by two different lecturers (distinct from those who initially graded the exam) appointed by the leaders of the Finance Faculty/Department The re-evaluating lecturers confirm the re-evaluation score using a standardized form provided by the university These results are then submitted to the leaders of the Finance Faculty/Department for approval before being forwarded to the Examination and Quality Assurance Department within the stipulated time frame (see Figure 2.5) Annually, the Examination and Quality Assurance Department compiles statistics on the number of students appealing end-of-course exam results for each Faculty/Department, including the Finance Concentration [04.02.03]

Figure 2.4: Timeline in the process of appealing the exam results at the end of the course

Source: Compilation from the process of appealing the final exam (2021)

During the period from 2019 to 2022, the number of Finance Concentration students who appealed the results of their courses was very low Among them, the number of papers that had their scores changed after the appeal was also very low compared to the scores of the first grading (the data is shown in Table 2.10)

Table 2.10: The number of exam papers of the Finance major training program that was appealed from 2019 to 2022 (Unit: papers)

School year Total number of exam papers with appeals

Number of exam papers with changed scores compared to the first grading results

Source: Compilation from the Examination and Quality Assurance Department

2.4.3 The standards and procedures for evaluating learners’ academic performance throughout the learning process and upon program completion are clearly defined, disseminated

to learners, and consistently implemented

From the commencement of enrollment and throughout the learning process, students in the Finance major training program are promptly apprised of the policies governing academic performance evaluation Additionally, HUB has issued regulations specifically on the assessment of academic performance for its students [04.03.01] Documents and instructions regarding assessment/evaluation

methods, exams, or other forms of evaluation, as well as requirements and criteria, are publicly announced to learners before each course/semester/subject and consistently implemented

In the context of evaluating foreign language and computer proficiency, students are briefed on the relevant regulations during the first week of the freshman life course or can access this information

T+ T+10 T+13 T+23 T+26

ment date of test scores

Announce-Deadline for submitting

appeals

Deadline for sending

appeals to the Faculty

Deadline for the Faculty

to return scores

Announcement date of appeal results