Invested in the Nation's Capital - local CFA Societies

CFA Society of Washington DCInvested in the Nation’s Capital

The CFA Society of Washington DC is the leadingassociation for investment professionals in the NationalCapital region. Perhaps you have seen the CFA ® designationafter the name of an investment professional. In greaterWashington – including the district’s Maryland and Virginiasuburbs – nearly 1,600 professionals who have earnedthe Chartered Financial Analyst ® designation are membersof the society. In the diverse and growing Washingtoninvestment community, the society plays a vital role – fromadvocating the highest ethical practices to promotingcareer opportunities for members. As investmentmanagement becomes ever more important in both thepublic and private sectors, the society and its members setthe standard for the highest level of professional excellence.Hilda Ochoa-Brillembourg, CFA, isfounder and president of the StrategicInvestment Group, a provider ofintegrated portfolio managementsolutions for institutional investors. A CFAcharterholder since 1985, Brillembourghas been active on CFA Institute’scandidate curriculum committee andhas delivered training courses for CFAcandidates. Today, her firm employsmany CFA charterholders. In herview, pursuit of the CFA designationexposes candidates to an ambitiousand comprehensive training programin all functional areas of investmentmanagement. “I consider it morevaluable than an MBA for professionalswho start in the trenches and want torise from there,” she says.

The CFA DesignationThe Hallmark of Achievement in the Investment ProfessionThe CFA Society of Washington DC(CFAW) represents the regional presenceof CFA Institute, the global nonprofitassociation of investment professionalsthat awards the CFA ® and CIPM ®designations. Around the world, thereare 136 local and regional societies andmore than 96,000 members of CFAInstitute.The mission of CFA Institute is to leadthe investment profession by settingand maintaining the highest standardsfor ethics, education, and professionalexcellence.To secure the CFA designation, aninvestment professional must complete athree-year study program and pass threelevels of examinations, each six hourslong. Additional requirements includea minimum of four years’ experience inthe investment industry and adherenceto the CFA Institute Code of Ethics andStandards of Professional Conduct.Since its establishment in 1962, theCFA Program has been recognized asthe most comprehensive and rigorousexamination of investment knowledgeand skill. The CIPM designation stands forthe Certificate in Investment PerformanceMeasurement. It is a specialized studyand exam program for individualsfocused on investment performancemeasurement, attribution, and appraisal.Typically, CFA charterholders areemployed by investment companies;mutual funds; hedge funds; commercialand investment banks; insurancecompanies; pension funds; foundations,educational institutions, and othernonprofits; consultants and researchfirms; as well as government agenciesand regulatory bodies.In addition to administering the CFAProgram, CFA Institute sponsorsconferences, publications, and webcastsand provides a variety of additionalmember services.John Escario, CFA, is senior portfolio manager for Rydex Investments. The Rockville, Marylandbasedfirm manages more than $16 billion in assets through more than 100 mutual funds andexchange-traded products. At Rydex, Escario manages several mutual funds and conducts factorand investment strategy research focusing on industry tactical asset allocation. A CFA charterholdersince 1998, Escario has served as treasurer and vice president of CFAW. As is true with manymembers of CFAW, Escario is committed to making contributions to the greater Washingtoncommunity. He is vice president of a soccer club where he helped establish an academy that teachesadvanced techniques and foot skills to developing players ages 4 through 11.1

CFAWAn Association as Dynamic and Diverse as Washington ItselfCFAW was founded in 1953 as theWashington Society of InvestmentAnalysts. Today, this organization hasgrown to more than 1,600 members plussome 250 student members, making itone of the largest CFA societies in theUnited States.Reflecting the diverse nature of theinvestment profession in the NationalCapital region, CFAW members representan unusually wide spectrum of roles andpositions. A sample of the many titlesfound among members includes CEO,CFO, COO, CIO, portfolio manager,analyst, trust officer, consultant, directorof research, corporate strategist, anddirector of compliance.In similar breadth, CFAW membersare employed by major corporations;associations; union pension funds;national, state, and local governmentagencies (regulatory and nonregulatory);the nonprofit community, includingfoundations, operating charities, andacademic institutions; governmentsponsoredenterprises; asset managementfirms; insurance companies; broker/dealers; and consultants. Many havemet with success as entrepreneurs andbusiness owners. In terms of assetsmanaged, members represent firmsranging from less than $250 millionin assets under management to thosemanaging $250 billion or more.A highly active organization, CFAW isled by elected officers and a board ofdirectors. To fulfill its mission, the societyis organized around committees thatimplement a wide range of programs forits members as well as outreach effortsthat connect with employers, otherprofessional associations, government,the media, and the higher educationcommunity. The society also serves asa public voice promoting ethics, highstandards, competence, and knowledgewithin the investment community.The CFA Society of Washington DC:Invested in the Nation’s Capital.Kenneth Lay, CFA, is vice president and treasurer of the World Bank, adevelopment cooperative owned by 185 countries. The bank providesfinancial solutions and expertise to help its members meet economic,social, and environmental challenges at the national and internationallevels. Lay travels globally and says he encounters increasing numbers ofCFA charterholders, particularly in India and China. Lay, who received hisCFA charter in 2001, says, “I came late to the CFA program after startingas a securities lawyer and then spending 15 years in the capital markets.Earning the charter is a great thing to do at any point in a career.”2

Outreach Programs Link the Society with the Washington CommunityAmong the approximately 70 CFAsocieties in the United States, CFAWstands apart as it represents a diversemicrocosm of the investment industry –from mutual fund companies and broker/dealers to regulatory agencies, quasigovernmentorganizations, and a largenonprofit community. Among its leadingpriorities, CFAW actively reaches out to allparticipants in the investment and financialindustry as well as to nonfinancialcorporations and organizations. In doingso, the society seeks not only to promoteemployment opportunities for its membersbut also to enhance the value of the CFAdesignation and to contribute broadly tothe greater Washington community.Employer Outreach/Public AwarenessCFAW’s employer outreach/publicawareness initiatives seek to raiserecognition of the society and thevalue of the CFA charter. With the CFAdesignation already widely appreciatedin the financial services and investmentindustry, outreach efforts in part areaimed at increasing recognition amongnonfinancial corporations and thegeneral public. CFAW also seeks tobe a respected public voice on ethics,standards, and professional competencein the investment community and tospeak authoritatively on industry issues,practices, and regulations.SponsorshipsSponsorships provide the opportunityfor corporations and other organizationsto gain recognition among CFAWmembers and for the society to generateincome to help support its programs.Lead Corporate Sponsorships create ayearlong partnership between CFAWand corporate sponsors, providingsponsors with the greatest level of accessto society members and the greatestsponsorship value. Sponsorship packagesmay be individually customized in order tomeet each sponsor’s objectives. Sponsorsalso have the opportunity to presenttheir companies and products to CFAWmembers at the events most relevant totheir business or marketing interests.Career Task Force/ProfessionalDevelopment DayA venue for bringing employers faceto face with CFA charterholders, CFAProgram candidates, and graduate levelfinance students, Professional DevelopmentDay is a major event in the society’scalendar. Activities range from a job fairtype of environment for employers tomeet prospective employees to a seriesof panel discussions on the changingemployment environment and careeropportunities for investment professionals.Daryl Dennis, CFA, founded Black Knight Asset Management—named for hisyears at the U.S. Military Academy at West Point—to invest in fixed-incomestrategies, principally for public and private pension funds and other institutionalinvestors. A CFA charterholder since 2000, Dennis is a leader of CFAW, havingserved as both president and vice president. In his view, “Earning a CFA charterexposes one to a broad range of investment disciplines. After securing theCFA designation, CFAW continuing education, seminars, and professionaldevelopment programs keep us abreast of ongoing changes in the field.”University OutreachOne of the society’s newest programs,university outreach opens channelsof communication with the region’smany institutions of higher education.The society sponsors student-focusedprograms using both external and CFAWmember speakers and offers networkingopportunities with young professionals.The society supports university-based CFAprograms and helps explain the value ofthe CFA designation. An important goalis introducing the popular CFA GlobalInvestment Research Challenge to theregion. Through the challenge, universityteams compete on a research project.Winners go on to regional and globalcompetitions.3

Education Programs Maintain the CFA Designationas the Highest Professional StandardThe society offers regular speakerprograms that allow members tohear firsthand from thought leadersrepresenting the worlds of investments,business, government, and academia.To promote career opportunities, CFAWsponsors Professional Development Dayto reach out to area employers as wellas networking events for members. ForCFA candidates, the society sponsorsprep classes and study groups, and itoffers ongoing professional developmentprograms for members.Candidate EducationThe CFA designation is recognizedaround the world as the gold standardof professional credentials in theinvestment community. Achieving theCFA designation is extremely challenging.Thus, a primary activity of the society isexam prep classes for Level I and LevelII candidates and study groups for LevelIII candidates. In recent years, CFAW hasdoubled the number of merit and needscholarships it offers to help candidatesdefray the cost of preparing for andtaking the exam.Professional EducationIn a constantly changing marketplace,education does not stop once aninvestment professional earns the CFAdesignation. Thus, the society offersopportunities for continuous learningand professional growth. Educationalefforts range from programs addressingtimely investment topics to “how to”workshops on such subjects as investmentwriting, retaining clients, and practicemanagement.NetworkingKeeping members connected with eachother for both professional developmentand career opportunities is a dedicatedeffort for CFAW. Regular programs rangefrom a reception for new charterholdersto an annual dinner with keynote speakerto more informal social events.Jeanne Shen, CFA, is senior director,investments, of the GAVI Alliance, anonprofit whose mission is to supportpoor countries through sustainableimmunization and other healthrelatedinitiatives. At GAVI, Shenmanages funds that come in throughfund-raising campaigns and donations.A CFA charterholder since 2001, Shensays the designation has been valuableto her because of the knowledgeshe gained in pursuit of the charterand the networking opportunitiesprovided by CFAW. “It’s a constantlearning process, and events, speakers,seminars, and publications all help youkeep pace,” she says.4

CFA Society of Washington DCSetting the standard for the Washington DC investment communitywww.cfawashington.orgContact us at:888-718-3893 / info@cfawashington.orgFor more information about CFA Institute,please visit www.cfainstitute.orgor call toll-free 800-247-8132 (USA and Canada)©2009 CFA Society of Washington DCAll rights reserved.