Career Planner: Financial Industry

The Basics
Self-Reflection
Job Profiles – Management
Job Profiles – Sales Department
Job Profiles – Research Department
Job Profiles – Trading Department
Job Profiles – Underwriting Department
Selection
Training Directory

TRAINING DIRECTORY

Note: Some of these designations are available in both Canada and the US, while others are only offered in the US. Who knows where your career will take you, so we figured we would stay safe and offer information on designations from both sides of the border.

Canadian Securities Institute Designations:

The CSI offers a variety of respected designations that are highly prized in the Canadian market place; those include: Chartered Professional (Ch. P), Fellow of CSI (FCSI)™, Derivatives Market Specialist (DMS), Canadian Investment Manager (CIM)™ and Financial Management Advisor (FMA).

Each designation has their own extensive requirements to obtain them, but to learn more, see: http://www.csi.ca/

Certified Financial Planner® (CFP®):
Those with the CFP® designation have demonstrated competency in all areas of finance related to financial planning. Candidates complete studies on over 100 topics, including stocks, bonds, taxes, insurance, retirement planning and estate planning. The program is administered by the Certified Financial Planner Board of Standards Inc. In addition to passing the CFP certification exam, candidates must also complete qualifying work experience and agree to adhere to the CFP Board’s code of ethics and professional responsibility and financial planning standards. (Definition sourced from http://www.investopedia.com/)
For more information, see: http://www.fpsc.ca/

Chartered Financial Analyst (CFA^®):
This designation is offered by the CFA Institute. To obtain the CFA charter, candidates must successfully complete three difficult exams and gain at least three years of qualifying work experience, among other requirements. In passing these exams, candidates demonstrate their competence, integrity and extensive knowledge in accounting, ethical and professional standards, economics, portfolio management and security analysis. (Definition sourced from http://www.investopedia.com/)
For more information, see: http://www.cfainstitute.org/

Certified Fund Specialist (CFS):
As the name implies, an individual with this certification has demonstrated his or her expertise in mutual funds and the mutual fund industry. These individuals often advise clients on which funds to invest in and, depending on whether or not they have their license, they will buy and sell funds for clients. The Institute of Business & Finance (IBF), provides training for the CFS, and the course focuses on a variety of mutual fund topics, including portfolio theory, dollar*cost averaging and annuities. (Definition sourced from http://www.investopedia.com/)

Chartered Financial Consultant (ChFC):
Individuals with the ChFC designation have demonstrated their vast and thorough knowledge of financial planning. The ChFC program is administered by the American College. In addition to successful completion of an exam on areas of financial planning, including income tax, insurance, investment and estate planning, candidates are required to have a minimum of three years experience in a financial industry position. (Definition sourced from http://www.investopedia.com/ )

Chartered Investment Counsellor (CIC):
Given by the Investment Counsel Association, this is a designation which CFA charter holders who are currently registered investment advisors can study for. The focus of the CIC program is portfolio management. In addition to proving their high level expertise in portfolio management, these individuals must also adhere to a strict code of ethics and provide character reference letters. (Definition sourced from http://www.investopedia.com/ )

Certified Investment Management Analyst (CIMA):
This designation focuses on asset allocation, ethics, due diligence, risk measurement, investment policy and performance measurement. Only individuals who are investment consultants with at least three years of professional experience are eligible to try to obtain this certification, which signifies a high level of consulting expertise. The Investment Management Consultants Association offers the CIMA courses. (Definition sourced from http://www.investopedia.com/)
For more information, see: http://www.imca.org/

Chartered Market Technician (CMT):
To achieve this designation, an individual must pass a series of three exams offered by the Market Technicians Association (MTA) and agree to adhere to the MTA code of ethics. Individuals with the CMT designation have a demonstrated expertise in the field of technical analysis. Often CMTs will work for hedge funds and money management firms. (Definition sourced from http://www.investopedia.com/)
For more information, see: http://www.mta.org/eweb/StartPage.aspx

Certified Public Accountant and Personal Financial Specialist (CPA and PFS):
Those holding the CPA designation have passed examinations on accounting and tax preparation, but their title does not indicate training in other areas of finance. So, those CPA holders who are interested in gaining expertise in financial planning in order to supplement their accounting careers need to become certified as personal finance specialists (PFS). The PFS designation is awarded by the American Institute of Certified Public Accountants to those who have taken additional training and already have a CFP designation. (Definition sourced from http://www.investopedia.com/ )
For more information, see: http://www.aicpa.org/

Chartered Life Underwriter (CLU):
This designation is issued by the American College and those who hold it work mostly as insurance agents. The CLU designation is awarded to persons who complete a 10-course program of study and 20 hours worth of exams. The course covers the fundamentals of life and health insurance, pension planning, insurance law, income taxation, investments, financial and estate planning, and group benefits. (Definition sourced from http://www.investopedia.com/)

Chartered Accountant (CA):
Being a Chartered Accountant is a valuable designation to put beside your name regardless of your career path, but by combing a Charter Accountant designation alongside your financial degree (and other financial designations and certifications) is a killer combination in the eyes of just about any employer in this competitive market place.
To obtain this designation, you will have had to complete all the appropriate university courses (or equivalent training), before being admitted into the CA training program where you will take part in a kind of multiyear apprenticeship. Specifically, you will gain work experience in a CA Training Office under the supervision of experienced CAs. As well, during your training you will be continually assessed on your development by CA board representatives, before finally submitting to a three day Uniform Evaluation (UFE) to gauge your knowledge and place you on the next step to your CA designation.
For more information, see: http://www.cica.ca/index.aspx

CMA (Certified Management Accountant):
Similar to a CA, a CMA is a valuable asset to place in your CV. CMAs focus primarily on managerial accounting and are usually often found in industry. Following university graduation, CMA candidates write a two-day CMA Entrance Examination that tests business knowledge, analytical thinking and written communication.
If you pass, you enter through series of successive phases in the CMA Strategic Leadership Program that will take 24 months to complete and include substantial practical work experience in the field. A final examination and assessment take place at the end of this program before one attains their CMA designation.
For more information, see: http://www.cma-canada.org

CGA (Certified General Accountant):
The CGA incorporates aspects from both the financial and management streams of accounting. While not as prestigious as the other accounting designations, the CGA offers practical tools for those interested in the accounting field. Attaining this designation is much more flexible than the other accounting designation and can be started while attending university.
For more information, see: http://www.cga-ontario.org/

ARB Team

Arbitrage Magazine

Business News with BITE

Liked this post? Why not buy the ARB team a beer? Just click an ad or