Mr. Vidhu Shekhar, the country head of CFA Institute was present amongst us today for the inaugural ceremony of Finomenal 2015. TAPMI has been institutionally recognized by the CFA, which is a landmark achievement for the institute. The course materials and curriculum of Financial Majors will now be mapped 70% to that of CFA.
Mr. Shekhar told us about the mission of CFA and emphasized how ethics are ultimately benefiting the society through professional excellence on a global level. He said that in today’s business scenario, having knowledge and skill is not enough. One should also focus on ethics as it is important to know how to act in relation to customer needs and business needs. There always exists a conflict between the two and CFA pays a lot of attention to it so as to understand how this conflict works and therefore can be avoided.
Citing example from a MBA student’s life itself, he said that it is important to make informed choices because these choices has a long term impact. The CFA’s ethic programs teaches the candidates about the same ethics and its relevance. CFA aims at serving the society
Mr. Shekhar went on to show a picture to the audience. The photo was taken in 1964, where CEOs of investment funds, analysts, head of research works and other experienced people were taking the very first CFA exam. He further explained how and why the idea of CFA was conceived. He said that a community of security analysts came together and decided that some credentials were needed when it came to finance and related activities.
Next, he spoke some more about CFA Institute. It is a global membership body of investment professionals and is also a non-profit organization. It has portfolio of various products and services. It has 145 member societies across 70 countries.
Lastly, he enunciated the relevance of CFA programs. According to a survey, Financial Services are the least trusted industry globally. This is mainly due to the fact that money in involved in it. The CFA program focuses on benefiting the society, and for this purpose has identified some key areas to develop. Some of them are Financial Knowledge, Retirement Security, Safeguarding the system, and putting investors first.