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/)
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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 Society Czech Republic
CFA INSTITUTE MEMBERS
By Regions
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65% Americas
18% EMEA
16% APAC
More than 127,000 members in 150 countries
CFA Society Czech Republic
GLOBAL CONNECTIONS & LOCAL INSIGHTS
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144 member societies in 69 countries
86 in the Americas
40 in EMEA
17 In APAC
CFA Society Czech Republic
PROMOTING ETHICS, EDUCATION AND
PROFESSIONAL EXCELLENCE
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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)
CFA Society Czech Republic
The
CFA Program
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CFA Society Czech Republic 8
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
CFA Society Czech Republic
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 Society Czech Republic
CFA PROGRAM CANDIDATES BY REGION
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35% Americas
21% EMEA
44% APAC
More than 220,000 candidate registrations globally
CFA Society Czech Republic 11
“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
CFA Society Czech Republic
The Gold Standard
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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
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CFA Society Czech Republic 14
TOP EMPLOYERS
OF CHARTERHOLDERS GLOBALLY
CFA Society Czech Republic
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
CFA Society Czech Republic
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
CFA Society Czech Republic
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.
CFA Society Czech Republic
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
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CERTIFICATE IN INVESTMENT
PERFORMANCE MEASUREMENT
(CIPM®)
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CFA Society Czech Republic
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
CFA Society Czech Republic 21
THE CIPM PROGRAM
DRIVE SMARTER
MORE INFORMED DECISION-MAKING
TO OPTIMIZE INVESTOR RESULTS
CLARITAS
INVESTMENT CERTIFICATE
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CFA Society Czech Republic 23
Meeting the need to bring a consistent level
of knowledge, clarity, and understanding to
participants in financial services.
CLARITAS INVESTMENT CERTIFICATE
CFA Society Czech Republic
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
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WHO IS IT FOR?
CFA Society Czech Republic
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
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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
CFA Society Czech Republic
MEMBER DEMOGRAPHICS
CFA Society Czech Republic has 140 members
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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%
CFA Society Czech Republic
CANDIDATE DEMOGRAPHICS
CFA Society Czech Republic has over 987 candidates
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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%
CFA Society Czech Republic
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’
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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
CFA Society Czech Republic
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
CFA Society Czech Republic
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)
Come to our Christmas Party in Slovakia on 11 December!
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THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
►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
THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
►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
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THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
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
THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
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
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THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
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
THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
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)
see more at: www.cfainstitute.org/community/challenge
36
THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
Future of Finance
GIPS® (Global Investment Performance Standards) introduced in the Czech Republic
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
THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
Future of Finance
GIPS® (Global Investment Performance Standards) introduced in the Czech Republic
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
THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
Future of Finance
GIPS® (Global Investment Performance Standards) introduced in the Czech Republic
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
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THE CFA SOCIETY IN 2013
New Initiatives
CFA Society Czech Republic
First events in Slovakia
Future of Finance
GIPS® (Global Investment Performance Standards) introduced in the Czech Republic
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
see Newsletter on www.czechcfa.cz
40
THE CFA SOCIETY IN 2013
New Initiatives
CFA Society Czech Republic
First events in Slovakia
Future of Finance
GIPS® (Global Investment Performance Standards) introduced in the Czech Republic
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
see Newsletter on www.czechcfa.cz
You are welcome to contribute with your
own articles or comments!
41
THE CFA SOCIETY IN 2013
New Initiatives
CFA Society Czech Republic
First events in Slovakia
Future of Finance
GIPS® (Global Investment Performance Standards) introduced in the Czech Republic
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
THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
First events in Slovakia
Future of Finance
GIPS® (Global Investment Performance Standards) introduced in the Czech Republic
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
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THE CFA SOCIETY IN 2014
Update
CFA Society Czech Republic
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
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CFA Society Czech Republic
SOCIAL MEDIA
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Twitter ̶ twitter.com/CFA_cz
Facebook ̶ facebook.com/CFASocietyCzechRepublic
LinkedIn ̶ linkedin.com/CFASocietyCzechRepublic
CFA Society Czech Republic
WE WOULD LIKE TO THANK
OUR SPONSORS
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Media Partner Event Sponsor
Society Sponsors
CFA Society Czech Republic
WELCOME TO THE FAMILY
Congratulation to New CFA Charterholders (18)
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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
CFA Society Czech Republic
WELCOME TO THE FAMILY
Pending CFA Charterholders
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Petr Jablonský
Michal Huba
Jan Jebavý
Successfully passed CFA exam Level III:
CFA Society Czech Republic 49
CFA Society Czech Republic Florentinum
Na Florenci 15
110 00 Praha 1
Czech Republic
e-mail: [email protected]
www.czechcfa.cz