CFA CHARTER AWARDING CEREMONY 2014 Files/EVENTS/CFA... · Regulatory bodies now confirming that CFA...

CFA CHARTER AWARDING CEREMONY 2014

27 November 2014

Jan Brázda, CFA – Vice President

CFA Society Czech Republic

Event Schedule:

18:00 Welcome Drink

18:30 Opening Remarks – Jan Brázda, CFA, Vice President of the CFA Society Czech Republic

18:45 Legal Issues in Financial Transactions: Mergers and Acquisitions, Structured Finance,

Syndicated Loans – Mgr. Robert Němec, LLM, Managing Partner at PRK Partners

19:45 CFA Charter Awarding Ceremony

20:00 Christmas Party at Restaurant U Zlatého slona (Havelská 9; http://www.uzlatehoslona.cz/)

2

CHARTER AWARDING CEREMONY

CFA Society Czech Republic 3

CFA INSTITUTE

To lead the investment profession globally by promoting the

highest standards of ethics, education, and professional

excellence for the ultimate benefit of society.

Educated, ethical

investment professionals

Financial markets that reflect CFA

Institute beliefs

Global financial markets that

serve the public interest

Mission


CFA INSTITUTE MEMBERS

By Regions

4

65% Americas

18% EMEA

16% APAC

More than 127,000 members in 150 countries


GLOBAL CONNECTIONS & LOCAL INSIGHTS

5

144 member societies in 69 countries

86 in the Americas

40 in EMEA

17 In APAC


PROMOTING ETHICS, EDUCATION AND

PROFESSIONAL EXCELLENCE

6

PROGRAMS:

• CFA® Program

• CIPM® Program

• Claritas® Investment Certificate

THOUGHT LEADERSHIP &

STANDARDS:

• Code of Ethics and Standards of

Practice

• Pension Trustee Code of Conduct

• Asset Manager Code of

Professional Conduct

• Capital Markets and Financial

Reporting Policy

• Global investment Performance

Standards (GIPS)


The

CFA Program

7


THE CFA PROGRAM

• Only 1/5 of enrolled candidates complete the CFA program and

earn the CFA designation

• Perceived as the most rigorous professional qualification in the

investment industry

• As such it has become the most respected and recognized

investment credential in the world

Current Status:

• Held by more than 120,000 investment professionals working in

more than 150 countries

• Recognized by regulatory bodies in many countries as a proxy for

meeting certain licensing requirements

• More than 170 universities around the world incorporate the

CFA Program curriculum into their degree programs


GLOBAL DEMAND FOR THE

CFA CHARTER

8

0

50,000

100,000

150,000

200,000

250,000

1996 1998 2000 2002 2004 2006 2008 2010 2012 2014

ASIA PACIFIC

49%

13% NORTH AMERICA

30%

EUROPE

LATIN AMERICA &

CARIBBEAN MIDDLE EAST

& AFRICA

6%

2%

June, 2014 CFA Candidate Exam Registrations


CFA PROGRAM CANDIDATES BY REGION

10

35% Americas

21% EMEA

44% APAC

More than 220,000 candidate registrations globally


“I got the interview because I had a CFA designation to start with. It is much valued in this organization, in this profession, and in this field.”

LILI ZOU, CFA Senior Financial Management Specialist Asian Development Bank

Philippines


The Gold Standard

12

ABOUT THE CFA DESIGNATION

“Whereas there are tens of thousands of finance degrees available around the

world, ranging from the excellent to the worthless, there is only one CFA, managed

and examined by American Association of finance professionals, the CFA Institute.

It used to be just an American qualification. But explosive growth has made it, in

effect, global currency.”

The Economist, Feb. 26-March 5, 2005

“Among the countless degrees around the world,

the Chartered Financial Analyst qualification

has become the gold standard.”

Financial Times, August 13, 2010


TOP EMPLOYERS

OF CHARTERHOLDERS GLOBALLY


TOP EMPLOYERS OF CHARTERHOLDERS IN CR

Top Employers

EY 11

CSOB Group 9

Erste Group 7

Generali PPF 6

ING Group 4

Deloitte 4

KPMG 4

Czech National Bank 4

Total members 140

4 employers with 2< CFA Charterholders


Senior in Transaction Advisory Services

“ CFA / ACCA qualification would be a significant advantage.”

Client Specialist

“Job Requirements / Qualifications: College/ university degree

or relevant work experience equivalent required or Industry

qualifications (i.e. CFA, MBA)”

Employers seek out CFA qualification

Senior Consultant in Deals

“ACCA or CFA would be an advantage”

Junior specialista pro korporátní

finance

“Požadovaný profil - certifikace CFA

nebo ACCA výhodou”

Positions advertised by top employers in CR


0% 5% 10% 15% 20% 25% 30% 35%

Other (e.g., Investment Banking…

Risk Manager

Corporate Financial Analyst

Relationship Manager

Financial Adviser

Consultant

Chief-Level Executive

Research Analyst

Portfolio Manager

WHAT CAN I DO WITH THE CFA CHARTER?

Charterholder employment by title

*As of March 2014.


REGULATOR AND PROGRAM

RECOGNITION

Regulatory bodies now confirming that CFA is the gold standard. Here is what the

team does:

Recognition for exemption/ waivers for our exam portfolio from Regulators

• E.g. In the Netherlands passing L1 CFA provides exemptions for investment advisors,

fund managers & analysts

Recognition for funding for our exam portfolio from government/ public bodies

• E.g. Austria for CFA Program

Recognition for our exam portfolio for exemptions from other professional bodies

• E.g. CFA Charterholders are exempt from 1 of the 5 mandatory exams for ACCA

Recognition for our exam portfolio for CE credit from other professional bodies

• E.g. Working with NASBA (approx. 700k CPAs) in the US to get accreditation for

Claritas as CE

18

CERTIFICATE IN INVESTMENT

PERFORMANCE MEASUREMENT

(CIPM®)

19


CIPM PROGRAM MISSION

To advance the CFA Institute mission by

promoting ethical standards and best practices

in investment performance (and risk) evaluation

and presentation.

9 December 2014 20


THE CIPM PROGRAM

DRIVE SMARTER

MORE INFORMED DECISION-MAKING

TO OPTIMIZE INVESTOR RESULTS

CLARITAS

INVESTMENT CERTIFICATE

22


Meeting the need to bring a consistent level

of knowledge, clarity, and understanding to

participants in financial services.

CLARITAS INVESTMENT CERTIFICATE


All professional disciplines in the financial services industry

outside of investment roles, including:

• Administration and Operations

• Client Service

• Compliance and Legal

• Human Resources

• Information Technology

• Marketing and Sales

• Media and Communications

24

WHO IS IT FOR?


Who we are

• Not-for-profit organization, one of 144 member societies of CFA Institute

• Serving CFA Charterholders and CFA Program candidates from CR and Slovakia since May 2002

• Currently 141 members (+ 5% yoy) and 987 candidates as at November 2014 (+ 11% yoy)

• www.czechcfa.cz

25

Board of Directors

► Marek Jindra, CFA, FCCA, ASA - President

► Jan Brázda, CFA - Vice President

► Jana Jandová, CFA – Treasurer

► Tom Fencl, CFA – Employer Outreach

► Martin Fischer, CFA – Programming Chair

► Matěj Turek, CFA – University Outreach

► Lubomír Vystavěl, CFA – Advocacy Chair

Executive Director

► Petra Roberts, CFA

Advisory Committee of Past Presidents

► Lukáš Brych, CFA, FCCA - Past President

► Michal Mareš, CFA - Past President

► George Formandl, CFA - Past President

► Tanweer Ali, CFA - Past President

Summary

CFA SOCIETY CZECH REPUBLIC

http://www.czechcfa.cz/


MEMBER DEMOGRAPHICS

CFA Society Czech Republic has 140 members

26

Over 96% of our members hold the CFA charter

Top Employers

EY 11

CSOB Group 9

Erste Group 7

Generali PPF 6

ING Group 4

Deloitte 4

KPMG 4

Czech National Bank 4

Total members 140

4 employers with 2< CFA Charterholders

Members by Country Czech Republic 107

Slovakia 23

United Kingdom 4

USA 1

Switzerland 1

France 1

Italy 1

Canada 1

Poland 1

Total members 140

Positions of our Members

Member Age Distribution Members in Time

0

30

60

90

120

150

'94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '140%

10%

20%

30%

40%

26-30 31-35 36-40 41-45 46-50 51<

Executives 31%

Senior Management

25%

Middle Management

11%

Portfolio Management

9%

Consulting, Analysts,

Associates, etc. 18%

Academia 1%

Others 5%


CANDIDATE DEMOGRAPHICS

CFA Society Czech Republic has over 987 candidates

27

Candidates by Country

Czech Republic 631

Slovakia 350

USA 1

Austria 1

Hungary 1

Italy 1

Malaysia 1

United Kingdom 1

Total Candidates 987

Top Employers of Candidates

EY 56

Reiffeisen Group 37

KPMG 32

Erste Group AG 30

PricewaterhouseCoopers 25

Deloitte 24

Swiss Re 24

Československá obchodní banka 22

Total candidates 987

CFA Society Czech Republic has 987 CFA Candidates aiming for the CFA Charter

Candidates and their Studies

Accountant/Auditor 3%

Chief-Level Executive

2% Consultant 10%

Corporate Financial Analyst

11%

Financial Advisor 3%

Investment Banking Analyst

3%

Other 10%

Portfolio Manager

5%

Relationship Manager

4% Research Analyst

6%

Risk Manager 5%

Students & Unemployed

38%

Candidates by Position

Level 1 Candidates

62%

Level 2 Candidates

29%

Level 3 Candidates

9%


Key Survey Outcome on www.czechcfa.cz

• career support provided by our Society (namely CFA JobLine) is nearly equally

as important for our members as educational and networking events

• we should make our priority # 1 the promotion of the CFA charter among

employers (in the financial services industry) and the financial community

• most of our members are regularly reading our newsletter and find its content

attractive

• 85% of members who participated in the survey think that the society serves

them ‘very well’ or ‘excellent’

28

CFA SOCIETY IN 2014

Member & Candidate Satisfaction Survey

0%

12% 3%

53%

32%

Please rate how well you think the society serves you as a member?

Poor

Lacking

Average

Very Good

Excellent

6%

3%

0%

3%

6%

11%

9%

9%

31%

49%

23%

17%

37%

26%

37%

40%

20%

11%

31%

31%

0% 100%

Career support (CFAJobLine website;career events)

Communication (e.g.website, newsletters,

social media)

Networking events(mixers)

Educational events(presentations,

seminars)

How important are the following four services to

you?

Very important

Important

Average

Unimportant

Very unimportant


First events in Slovakia

Based on a survey conducted among our Slovak members and candidates we introduced first CFA

events in Slovakia (in March & October) and partnered with SASS (equivalent of AKAT) as a key partner

29

THE CFA SOCIETY IN 2014

Update



Based on a survey conducted among our Slovak members and candidates we introduced first CFA

events in Slovakia (in March & October) and partnered with SASS (equivalent of AKAT)

Come to our Christmas Party in Slovakia on 11 December!

30


Update



►Future of Finance

The Society joined forces with CFA Institute and dedicated the month of May to a global campaign

Future of Finance: ‘Putting Investors First’

As part of this topic our society hosted a discussion panel in Studio Burza where experts from AKAT,

CNB and PSE evaluated investor protection in the Czech Republic (broadcasted by CT24)

31


Update



►Future of Finance

The Society joined forces with CFA Institute and dedicated the month of May to a global campaign

Future of Finance: ‘Putting Investors First’

As part of this topic our society hosted a discussion panel in Studio Burza where experts from AKAT,

CNB and PSE evaluated investor protection in the Czech Republic (broadcasted by CT24)

The society plans to cover all six topics of this global campaign Future of Finance

see more at www.cfainstitute.org/futurefinance

32


Update



Future of Finance

►GIPS® (Global Investment Performance Standards) introduced in the Czech Republic

Joint initiative of AKAT and CFA Society CR with an official support of the CNB and MF

Inaugural GIPS event on 30 September – participants: leading investment companies

33


Update



Future of Finance

►GIPS® (Global Investment Performance Standards) introduced in the Czech Republic

Joint initiative of AKAT and CFA Society CR with an official support of the CNB and MF

Inaugural GIPS event on 30 September – participants: leading investment companies

The only global standards for full and fair disclosure of investment portfolio’s performance results

see more at www.gipsstandards.org

34


Update



Future of Finance

GIPS® (Global Investment Performance Standards) introduced in the Czech Republic

► Research Challenge

15 teams from 11 universities – the highest number of participating universities so far

For the first time this year also universities from Slovakia participate in the Challenge (3 Slovak universities)

35


Update



Future of Finance


► Research Challenge

15 teams from 11 universities – the highest number of participating universities so far

For the first time this year also universities from Slovakia participate in the Challenge (3 Slovak universities)

see more at: www.cfainstitute.org/community/challenge

36


Update



Future of Finance


Research Challenge

►CFA JobLine

Since the official launch on 5 December 2012 our coverage has expanded greatly and we now cooperate

with the majority of top employers in the financial industry in the CR

Job postings by top employers seeking CFA charterholders and CFA Program candidates as specialists

with high professional and ethical standards

37


Update



Future of Finance


Research Challenge

►CFA JobLine

Since the official launch on 5 December 2012 our coverage has expanded greatly and we now cooperate

with the majority of top employers in the financial industry in the CR

Job postings by top employers seeking CFA charterholders and CFA Program candidates as specialists

with high professional and ethical standards

38


Update



Future of Finance


Research Challenge

CFA JobLine

►New Society Newsletter

As the society became more active in recent years launching a number of new initiatives and events, the

need for a society newsletter became overwhelming.

• Interviews with our CFA charterholders

• Articles by our members or other industry experts

• Society update

39


New Initiatives



Future of Finance


Research Challenge

CFA JobLine



need for a society newsletter became overwhelming

see Newsletter on www.czechcfa.cz

40


New Initiatives



Future of Finance


Research Challenge

CFA JobLine



need for a society newsletter became overwhelming

see Newsletter on www.czechcfa.cz

You are welcome to contribute with your

own articles or comments!

41


New Initiatives



Future of Finance


Research Challenge

CFA JobLine

New Society Newsletter

► Ongoing partnerships and joint events with CVCA, ACCA, AKAT, the US Embassy

In the current event season we offer to our members and candidates 13 events organised by the society

and another 13 events or workshops organised by other partner organisations

42


Update



Future of Finance


Research Challenge

CFA JobLine

New Society Newsletter

► Ongoing partnerships and joint events with CVCA, ACCA, AKAT, the US Embassy

In the current event season we offer to our members and candidates 13 events organised by the society

and another 13 events or workshops organised by other partners organisations

see the event calendar on www.czechcfa.cz

43


Update


CFA FORECASTING DINNER 2015

Our flag ship event

13th Annual CFA Society Forecasting Dinner 2015

• 19 February 2015 at 5.30pm

• CNB’s Congress Centre

• Keynote speakers:

• Miroslav Singer – Czech macroeconomic forecast

• Jerome Booth - Emerging Markets in an Upside-Down World

44


SOCIAL MEDIA

45

Twitter ̶ twitter.com/CFA_cz

Facebook ̶ facebook.com/CFASocietyCzechRepublic

LinkedIn ̶ linkedin.com/CFASocietyCzechRepublic


WE WOULD LIKE TO THANK

OUR SPONSORS

46

Media Partner Event Sponsor

Society Sponsors


WELCOME TO THE FAMILY

Congratulation to New CFA Charterholders (18)

47

Name Job Title Employer Name Country

Tomáš Čása, CFA Investment Manager GENESIS CAPITAL CZECH REPUBLIC

Peter Chorvatovič, CFA Senior Salesman - IB Komercni banka CZECH REPUBLIC

Jiří Fiedler, CFA Financial Analyst Terra Partners Asset Management CZECH REPUBLIC

Tomáš Jandík, CFA Associate Director CBRE CZECH REPUBLIC

Jaroslav Janíček, CFA SLOVAKIA

Martin Kopecký, CFA Analyst J&T IB and Capital Markets CZECH REPUBLIC

David Koudela, CFA Manager EY CZECH REPUBLIC

Matúš Kubala, CFA Portfolio Manager Across Wealth Management SLOVAKIA

Michal Kymlička, CFA Portfolio Manager Generali PPF Asset Management CZECH REPUBLIC

Lucia Mareková, CFA Advisor to CFO Bratislavska vodarenska spolocnost SLOVAKIA

ukáš Mazal, CFA Risk Manager Raiffeisen Bank International CZECH REPUBLIC

Vladimír Mlýnek, CFA CIO VUB Generali dochodkova

spravcovska spolocnost SLOVAKIA

Petr Pejchal, CFA Chief Controlling Officer PKS holding CZECH REPUBLIC

L'udovít Rybár, CFA Vice President Swiss Re Business Services SLOVAKIA

Katarína Ščecinová, CFA Portfolio Manager J & T BANKA CZECH REPUBLIC

Richard Stadler, CFA Financial Analyst CSOB Asset Management CZECH REPUBLIC

Peter Tuchyňa, CFA Credit risk specialist Ceska sporitelna CZECH REPUBLIC

Peter Vidlička, CFA Portfolio Manager Generali PPF Asset Management CZECH REPUBLIC


WELCOME TO THE FAMILY

Pending CFA Charterholders

48

Petr Jablonský

Michal Huba

Jan Jebavý

Successfully passed CFA exam Level III:


CFA Society Czech Republic Florentinum

Na Florenci 15

110 00 Praha 1

Czech Republic

e-mail: [email protected]

www.czechcfa.cz

http://www.czechcfa.cz/

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