The CFA programme

Updated on: Wednesday, July 07, 2010

What is the scope of the CFA programme in today's context?

Finance is global in nature, and the CFA charter is recognised by the industry as the gold standard. With ethics, strong analytical skills, rigour and tenacity, CFA charter-holders in Asia are well positioned to bring a global perspective to the investment industry. We have seen many employers in the region posting job vacancies with a requirement or preference for a “CFA charterholder” or “CFA candidate.”

In addition to the knowledge, skills, and the ethical foundation the CFA Programme offers, CFA charterholders are internationally mobile, as they are linked to a truly global professional network.

Only 1 in 5 who begins the CFA Programme successfully pass all the three levels of exam and fulfil work experience requirements to become a CFA charterholder. Passing the CFA exam is no easy task. Employers feel confident that CFA charterholders are serious and committed professionals with ethics, analytical skills, rigor, and tenacity.

What kinds of opportunities are available for CFA candidates?

The CFA Programme provides candidates with relevant, up-to-date knowledge base and skill sets. The industry puts an emphasis on practical experience. For aspiring individuals wanting to pursue a finance career, the CFA Programme is a good starting point.

The Asian financial markets present major opportunities with the economic growth in countries such as China and India, as well as opportunities in the more mature markets such as Hong Kong, Singapore, and Australia. Employers increasingly recognise the value of having CFA charterholders on staff. CFA charterholders usually play leading roles in bank, investment bank, pension fund, investment firms, mutual fund, insurance company, and others.

Do you think the popularity of the CFA is growing? If so, how popular is it in India?

As many as 1,39,900 candidates from 160 countries enrolled for the CFA exam in June 2010. Despite the financial crisis, the number of candidates remained resilient and has increased by 9 per cent, reflecting the strong commitment among finance professionals to high standards of competency, integrity, and professional excellence, which are at the core of the CFA exam.

Asia Pacific is an important market for CFA Institute, with 41 per cent of CFA exam registrations in fiscal year 2010 (December 2009 and June 2010 exam registrations) and a strong growth particularly in China (22,380 registrations; 27 per cent of Asia Pacific total) and India (17,320 registrations; 21 per cent of Asia Pacific total).

Do you find the profile of CFA candidates changing or expanding? What are the kinds of applicants you get?

Anyone with a university bachelor's degree in any discipline can enrol in the CFA Programme. Candidates usually have a full-time job, while some are students (final-year students in their bachelor's degree programme or postgraduate students). From our survey among candidates taking the June 2010 exam (including Level I, II and III exams), the occupations of the candidates include:

17.5% Research Analyst

11.6% Accountant/ Auditor

9.5% Corporate Financial Analyst

9.4% Consultant

9.0% Others

6.3% Portfolio Manager

6.0% Investment Banking Analyst

5.8% Relationship Manager

5.7% Financial Advisor

5.5% Risk Manager

4.8% Trader

2.2% Broker

2.2% Strategist

1.7% Manager of Managers

1.5% Private Banker

1.3% Chief Executive

How close are you to partnering an Indian institution for your programme?

CFA Institute currently has 122 CFA Programme Partners worldwide, with 29 in the Asia Pacific Region. However, there is no partner in India yet due to some legal issues. Once they are resolved, we look forward to partnering with strong Indian finance programs.

To promote the best practices in equity research and company analysis, as well as the highest ethical and professional standards, CFA Institute organises the CFA Institute Global Investment Research Challenge. As many as 28 universities in India, including IIMs, JBIMS, SP Jain, and ISB, participated in the local round in this year's competition.

Could you tell us about your MoU with the SEBI?

We signed a Memorandum of Understanding with the Securities and Exchange Board of India's National Institute of Securities Markets in June 2009 to jointly organise financial and investment educational training programmes and research in India. Our members in India also joined this collaboration through member society, which is based in Mumbai, the Indian Association of Investment Professionals. There are seven areas of cooperation, including Joint Conference, Ethics Training, Examination Development, Investor Education, Financial Literacy Training, Career Development and Original Research.

The CFA programme

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