View
224
Download
2
Category
Preview:
Citation preview
THE CFA CHARTER
İlke Takımoğlu Homriş, CFA Alper Alkan, CFA Executive Director Treasurer CFA Society of İstanbul CFA Society of İstanbul 7 December 2017
THE CFA® CHARTER
İlke Takımoğlu Homriş, CFA
Executive Director, CFA Society of İstanbul
1 October 2016
THE CFA CHARTER
- Graduate-level investment credential
- Held by more than 140,000 individuals in 154 countries
- More than 425 universities around the world incorporate
the CFA curriculum into their degree programs
- Recognized by regulatory bodies in many countries as a
proxy for meeting certain licensing requirements,
including Turkey’s Capital Markets Board.
To lead the investment profession globally by promoting the
highest standards of ethics, education, and professional
excellence for the ultimate benefit of society.
10
Educated, ethical
investment professionals
Financial markets that reflect CFA
Institute beliefs
Global financial markets that
serve the public interest
“I wanted a globally recognized qualification that would prove my competency.”
Nina de Martins-Majstorovic,
CFA
Paris, France
21%
EMEA
Members: 30,900
CFA Program
Registrations: 44,900
Societies: 40
61%
AMERICAS
Members: 88,900
CFA Program
Registrations: 70,300
Societies: 89
18%
ASIA PACIFIC
Members: 25,600
CFA Program
Registrations: 108,300
Societies: 19
More than
140,000
members
in over 150
countries;
148 member
societies
MEMBERSHIP, CANDIDATES & SOCIETIES
TURKEY
Members: 300*
CFA Program
Registrations: 800** *CFA Society Istanbul current Fig.
**FY2017 CFA Institute Figures
8
CFA® PROGRAM
CFA INSTITUTE PROGRAMS
CFAI® Investment
Foundations
Essentials of finance,
ethics, and investment
roles, providing a clear
understanding of the
global investment
industry.
One exam
No experience
required
CIPM® Program
Investment
performance and risk
evaluation; risk
management; financial
planning; manager
search and selection;
investment analysis;
and client relations.
Two exams
Two years of
professional experience
CFA® Program
Investment decision-
making and strategy;
portfolio and wealth
management;
institutional investing;
and investment
analysis.
Three exams
Four years of
professional experience
See program details at www.cfainstitute.org/programs
WHAT YOU LEARN AS A
CFA CHARTERHOLDER
• Investment (equity and fixed income) analysis
• Portfolio management
• Wealth planning
• Economic theory
• Alternatives and derivatives
• Performance measurement & evaluation
• Risk management
• Financial reporting
• Quantitative methods
10
11
WITH THE CFA CHARTER, YOU…
• Develop a comprehensive investment perspective
• Gain fluency in practical investment analysis and management skills
• Demonstrate a commitment to ethics and professional standards
• Earn credibility with industry peers
• Become part of a global community of top industry professionals
• Gain the flexibility to work in any market
• Are sought out by top industry employers
WHAT CAN I DO WITH THE CFA CHARTER? Charterholder employment by title
0% 5% 10% 15% 20% 25% 30% 35%
Other (e.g., Investment Banking Analyst,Accountant/Auditor, Trader)
Risk Manager
Corporate Financial Analyst
Relationship Manager
Financial Adviser
Consultant
Chief-Level Executive
Research Analyst
Portfolio Manager
Note: This content is accurate as of March 2014.
14
MEMBERS WORK FOR…
Banks and Credit Unions
Investment Firm
Consulting Firm
Institutional Asset Management
Investment Bank
Financial Planner/Investment
Advisers
Mutual Fund Management
Investment Fund
Insurance
Securities Brokerage
Hedge Fund Management
Government/Regulator
13%
3%
10%
10%
10%
8%
6%
4%
4%
4%
3%
3%
A PRACTICE-DRIVEN PROCESS
A RICH HISTORY – 1st EXAM !!! 1963
Image courtesy of Rip Payne
DEMAND FOR THE CFA CHARTER
Candidate exam registrations
0190001900r1l
9190001900r4l
18190001900r7l
26190001900r10l
3190101901r2l
14190101901r5l
22190101901r8l
30190101901r11l
10190201902r3l
18190201902r6l
.0
50000.0
100000.0
150000.0
200000.0
250000.0Global Turkey
THE MODERN EXAM
THE CFA EQUATION
Bachelor’s degree or in final year of bachelor’s
Level I, II, III Exams
4 years work
experience
CFA Charter
THREE LEVELS OF CFA PROGRAM EXAMS
%49
%15 %10-15
%29
%7
%30-55 %35-70
%7 %10-15
%25-65
%40-55
EXAMINATIONS
Level Format Grading Process Typical Number of
Questions
I
June/
Dec
Multiple Choice Machine graded;
Extensive sampling
240 Questions (120 in
a.m. and 120 in p.m.)
II
June
Only
Item Sets cases — 6
related multiple choice
questions
Machine graded;
Extensive sampling
20 Item Sets
(10 in a.m. and 10 in
p.m.)
III
June
Only
Constructed Response
(essay) Item Sets Item Sets — Machine
graded; extensive
sampling
Constructed Response
Graded by teams of
charterholders
Variable number of
constructed response
questions
ENROLLMENT DETAILS — JUN 2018 EXAM
The exam registration fee covers the cost of:
• The eBook (contains the complete curriculum you need to study)
• An interactive study planner to guide and track your exam preparation
• Topic-based practice tests
• Mock exams
• A mobile study app with access to everything listed above
Early
Registration
Standard
Registration
Late
Registration
Deadline
27 Sep 2017
14 Feb 2018
14 Mar 2018
Fee
$650
$930 $1,380
One off enrollment fee $450 (only payable once)
ACCESS
SCHOLARSHIPS
SCHOLARSHIPS
AWARENESS
SCHOLARSHIPS
Schweser - CFA Society
Istanbul Scholarship
Access scholarships provide
needs-based scholarship
opportunities for those unable
to afford the full price of
the CFA Program enrolment
and registration fees.
Awareness scholarships are
offered to key influencers in
the media, academic, and
financial communities, such as
college/university faculty, college
students affiliated with our
Recognized Universities and CFA
Program Partner schools,
regulatory agencies, and media
organization employees
around the world. There is also a
separate women scholarship.
The awarded Candidates will
choose one of the below
scholarship products.
A – Schweser Notes Pack and
SchweserPro Qbank (online
version + a one time download)
B – 16-Week Online Class
w/Workbook and Class Archives
C – Schweser's Final Review
Pack
25
TIPS AND MYTHS
TOP 10 EXAM TIPS
1. Start early, create a schedule, and prepare for about 300 hours
2. Study the Learning Outcome Statements (LOS)
3. Practice using end-of-reading question, mock exams, and sample exams
4. Rest the day before the exam
5. Show up on exam day and answer all questions.
6. Listen carefully to announcements and pre-exam day communications
7. Watch your time and pace yourself
8. Stay calm
9. Get the ethics right
10.Tell your friends and family about your commitment to the CFA program
TOP 10 EXAM MYTHS (NOT TRUE!)
1. The question writers look at what prep courses are saying and test the opposite.
2. The question writer is trying to trick me.
3. Questions that nearly everyone got right and wrong are thrown out.
4. The CFA Program assumes markets are efficient.
5. You must finish the program within a certain time frame, so you must take the
exams in consecutive sittings.
6. A month is plenty of time to study.
7. I do not need to read the assigned curriculum – I already do this stuff at work.
8. A friend’s prep notes from three years ago are good enough.
9. CFA Institute has a targeted pass rate.
10. The minimum pass score is 70%
28
29
CFA SOCIETY OF ISTANBUL
• Established in 2003
• 300 members
• 200 CFA charterholders
• Outreach activities: Universities, Employers, Regulatory Side
• Conferences & Events
• Jobline & Internships
• In 2016, won the prize for highest increase in candidate base in the EMEA
region...
CHARTERHOLDERS IN TURKEY
EMPLOYMENT TOP FıVES
170 CFA Charterholders in Turkey… 20 new charters awarded every year!
30
Top 5 Employers
0190001900r1l5190001900r1l10190001900r1l15190001900r1l20190001900r1l25190001900r1l
İş Bankası
Akbank
Yapı Kredi
Garanti
TEB
Number of Employees
Top 5 Job Functions
Job Function %
Research Analyst %17
Chief Level Executive %16
Portfolio Manager %12
Risk Manager %4
Consultant %3
Source: Market Profiles 2015 © CFA Institute
@
C
F
A
I
s
t
a
n
b
u
l
CFAIstanbul info@cfaturkishsociety.org
www.cfaturkishsociety.org CFAIstanbul
CFA_Istanbul
company/cfa-society-istanbul
• JOBLINE
• INVESTMENT RESEARCH CHALLENGE
• MAKROPANEL
• INVESTORS FIRST
• WOMEN IN FINANCE
• CHARTER AWARD CEREMONY
• PENSIONS
• NETWORKING
CONFERENCES & EVENTS
32
OUTREACH ACTIVITES
UNIVERSITIES
University recognition program (Koç, Bilkent, Boğaziçi, Sabancı, İstanbul
University, ODTÜ)
Recognized institutions must embed at least 70% of the CBOK, including the CFA Institute
Code of Ethics and Standards of Professional Conduct, into their curricula. Students in
these degree programs are exposed to the topics covered in the CFA Program, which
helps enhance their preparation for sitting for the CFA Program exams. Recognized
universities are not expected to contribute to CFA Institute’s other strategic objectives. The
University Recognition Program is intended to be a solely curriculum-based relationship.
Investment Research Challenge (IRC) – every year!!!
Ethics Challenge – planned!
2016 CHARTER AWARD CEREMONY
& NETWORKıNG EVENT
33
November 2016
2017 IRC RECORD NUMBER OF PARTıCıPATıONS THIS YEAR!
14 universities from Turkey attended the Company presentation on November.
The Company was Arçelik.
34 of #
2017 IRC TURKEY FINAL
Mar 2017
5 universities competed in the local final presentation.
Özyeğin was the winner!! A reception followed the presentation for the students to mingle
with our members and the judges.
35 of
#
CAREER FAıR – UNıVERSıTY OUTREACH
36
9TH MACRO PANEL
37
Panelists
Prof. Refet Gürkaynak; Dr. Ahmet Çimenoğlu; Dr. Murat Üçer
ETHICS TRAINING
38
CFA Society Istanbul held 2-day Ethics
Training sessions in Istanbul
18-19 January 2016 ISTANBUL
Sponsored by Turkish Capital Markets
Association
The trainings were made by Michael McMillan,
CFA and Christina Rulfs, CFA. The sessions
in Istanbul were spread to 2 days.
Each day there was a 90 minute Train the
Trainer session targeting CFA charterholders
and a 90 minute Ethics session for finance
professional in general where the Lubrizol
case was presented.
Attendants in Istanbul were primarily from
equity research, portfolio management,
compliance and internal audit departments of
asset management companies, brokerage
houses, and banks.
39
A luncheon was held to introduce and promote the Asset
Manager Code. Attendants were top executives of asset
management companies in Turkey as well as some members
of the society board. Christina Rulfs, CFA, and Mr.Celik (CEO
of ING Asset Management) made presentations during lunch
which were followed by Q&A and discussions.
ASSET MANAGER CODE
LUNCHEON
19 JAN 2016
ETHICS TRAINING
40
CFA Society Istanbul held Ethics Training session in Ankara
20 January 2016 !!! OUR 1ST EVENT IN ANKARA !!!
The 120 minute training in Ankara was a combination of Train the Trainer sessions and
Ethics sessions made by Michael McMillan, CFA and Christina Rulfs, CFA.
Attendants in Ankara were primarily from the regulatory side, particularly Turkish
Treasury, Central Bank and Capital Markets Board. There were also some
academicians from recognized universities such as Sabanci and Bilkent and candidate
university METU.
BUMED MARCH MAGAZINE
41 of
#
Interview – Bogazici University monthly Alumni
Magazine
MORE ON THE MEDıA
42
Our President’s interview at Dunya newspaper
Women in Finance conference took place on Platin
(business) magazine in April
WOMEN IN FINANCE PANEL
7 Mar 2017
43 of
#
BILKENT PRESENTATION &
CAREER FAIR
17 Mar 2016
44 of
#
INVESTORS! 1ST
1 Jun 2016
PRIVATE PENSION FUNDS CONFERENCE
45 of
#
• High number of attendance and C-
level attendance…
INVESTORS! 1ST – FINTECH 16 MAY 2017
JOINT CONFERENCES MAY 2017
22 MAY - The Opportunities Derivative Instruments provide for Publicly Traded Companies
3 MAY – Integrated reporting conference at Yıldız Teknik University
48
MORE ON THE MEDıA
Private
Pension Fund
Conference
in Dunya
newspaper
on 22 Jun
CFA COURSES / LEVEL 1
• CFA Level1 prep courses organized by our society in collaboration with Koc
University in February – April 2017.
• 10 CFA Charterholders picked for 10 week course to 40 candidates.
• There is room for expanding this further.
49 of
#
MOCK EXAM 14 MAY 2017
SOCIAL MEDIA
Twitter — twitter.com/cfainstitute
Facebook — facebook.com/cfainstitute
LinkedIn — linkedin.com/company/cfa-institute
Sina Weibo (China) — e.weibo.com/cfainst
Seeking Alpha — seekingalpha.com
FT Alphaville Long Room — discussions.ft.com/longroom
CFA Institute maintains an active and growing
social media presence on:
BLOGS
Enterprising Investor
Inside Investing
Market Integrity Insights
www.blogs.cfainstitute.org
• Written by subject matter experts with deep industry knowledge
• Expert analysis and perspective on economics, emerging
markets, derivatives and more
THANK YOU FOR LISTENING —
ANY QUESTIONS?
Learn more at www.cfainstitute.org
54
CANDIDATE RESOURCES
CANDIDATE RESOURCES PAGE
55
CANDIDATE RESOURCES PAGE:
MOBILE APP (APPLE AND ANDROID)
56
CANDIDATE RESOURCES:
STUDY PLANNER
57
• Allows users to track their
progress
• Uses topic area weights
• Dynamically adjusts
CANDIDATE RESOURCES:
PRACTICE TESTS
58
• Topic-based exams
and mock exams
• Track your score
history
• Unlimited access and
dynamic
FOR FIRMS: EMPLOY CHARTERHOLDERS TO
ENHANCE YOUR PROFESSIONAL OFFERINGS TO
CLIENTS
FOR INVESTORS: HIRE A CHARTERHOLDER AS THE
MOST COMPETENT AND ETHICAL PROFESSIONAL
TO HELP ACHIEVE YOUR GOALS
FOR INVESTMENT PROFESSIONALS: DEVELOP
CAREER SUCCESS BY BECOMING A
CHARTERHOLDER
FOR REGULATORS: WORK WITH CFA INSTITUTE TO
BUILD MARKETS THAT SERVE INVESTORS’ NEEDS.
59
Recommended