The <strong>CFA</strong> Society of Wash<strong>in</strong>gton DC is <strong>the</strong> lead<strong>in</strong>gassociation for <strong>in</strong>vestment professionals <strong>in</strong> <strong>the</strong> National<strong>Capital</strong> region. Perhaps you have seen <strong>the</strong> <strong>CFA</strong> ® designationafter <strong>the</strong> name of an <strong>in</strong>vestment professional. In greaterWash<strong>in</strong>gton – <strong>in</strong>clud<strong>in</strong>g <strong>the</strong> district’s Maryland and Virg<strong>in</strong>iasuburbs – nearly 1,600 professionals who have earned<strong>the</strong> Chartered F<strong>in</strong>ancial Analyst ® designation are membersof <strong>the</strong> society. In <strong>the</strong> diverse and grow<strong>in</strong>g Wash<strong>in</strong>gton<strong>in</strong>vestment community, <strong>the</strong> society plays a vital role – fromadvocat<strong>in</strong>g <strong>the</strong> highest ethical practices to promot<strong>in</strong>gcareer opportunities for members. As <strong>in</strong>vestmentmanagement becomes ever more important <strong>in</strong> both <strong>the</strong>public and private sectors, <strong>the</strong> society and its members set<strong>the</strong> standard for <strong>the</strong> highest level of professional excellence.Hilda Ochoa-Brillembourg, <strong>CFA</strong>, isfounder and president of <strong>the</strong> StrategicInvestment Group, a provider of<strong>in</strong>tegrated portfolio managementsolutions for <strong>in</strong>stitutional <strong>in</strong>vestors. A <strong>CFA</strong>charterholder s<strong>in</strong>ce 1985, Brillembourghas been active on <strong>CFA</strong> Institute’scandidate curriculum committee andhas delivered tra<strong>in</strong><strong>in</strong>g courses for <strong>CFA</strong>candidates. Today, her firm employsmany <strong>CFA</strong> charterholders. In herview, pursuit of <strong>the</strong> <strong>CFA</strong> designationexposes candidates to an ambitiousand comprehensive tra<strong>in</strong><strong>in</strong>g program<strong>in</strong> all functional areas of <strong>in</strong>vestmentmanagement. “I consider it morevaluable than an MBA for professionalswho start <strong>in</strong> <strong>the</strong> trenches and want torise from <strong>the</strong>re,” she says.
The <strong>CFA</strong> DesignationThe Hallmark of Achievement <strong>in</strong> <strong>the</strong> Investment ProfessionThe <strong>CFA</strong> Society of Wash<strong>in</strong>gton DC(<strong>CFA</strong>W) represents <strong>the</strong> regional presenceof <strong>CFA</strong> Institute, <strong>the</strong> global nonprofitassociation of <strong>in</strong>vestment professionalsthat awards <strong>the</strong> <strong>CFA</strong> ® and CIPM ®designations. Around <strong>the</strong> world, <strong>the</strong>reare 136 <strong>local</strong> and regional societies andmore than 96,000 members of <strong>CFA</strong>Institute.The mission of <strong>CFA</strong> Institute is to lead<strong>the</strong> <strong>in</strong>vestment profession by sett<strong>in</strong>gand ma<strong>in</strong>ta<strong>in</strong><strong>in</strong>g <strong>the</strong> highest standardsfor ethics, education, and professionalexcellence.To secure <strong>the</strong> <strong>CFA</strong> designation, an<strong>in</strong>vestment professional must complete athree-year study program and pass threelevels of exam<strong>in</strong>ations, each six hourslong. Additional requirements <strong>in</strong>cludea m<strong>in</strong>imum of four years’ experience <strong>in</strong><strong>the</strong> <strong>in</strong>vestment <strong>in</strong>dustry and adherenceto <strong>the</strong> <strong>CFA</strong> Institute Code of Ethics andStandards of Professional Conduct.S<strong>in</strong>ce its establishment <strong>in</strong> 1962, <strong>the</strong><strong>CFA</strong> Program has been recognized as<strong>the</strong> most comprehensive and rigorousexam<strong>in</strong>ation of <strong>in</strong>vestment knowledgeand skill. The CIPM designation stands for<strong>the</strong> Certificate <strong>in</strong> Investment PerformanceMeasurement. It is a specialized studyand exam program for <strong>in</strong>dividualsfocused on <strong>in</strong>vestment performancemeasurement, attribution, and appraisal.Typically, <strong>CFA</strong> charterholders areemployed by <strong>in</strong>vestment companies;mutual funds; hedge funds; commercialand <strong>in</strong>vestment banks; <strong>in</strong>surancecompanies; pension funds; foundations,educational <strong>in</strong>stitutions, and o<strong>the</strong>rnonprofits; consultants and researchfirms; as well as government agenciesand regulatory bodies.In addition to adm<strong>in</strong>ister<strong>in</strong>g <strong>the</strong> <strong>CFA</strong>Program, <strong>CFA</strong> Institute sponsorsconferences, publications, and webcastsand provides a variety of additionalmember services.John Escario, <strong>CFA</strong>, is senior portfolio manager for Rydex Investments. The Rockville, Marylandbasedfirm manages more than $16 billion <strong>in</strong> assets through more than 100 mutual funds andexchange-traded products. At Rydex, Escario manages several mutual funds and conducts factorand <strong>in</strong>vestment strategy research focus<strong>in</strong>g on <strong>in</strong>dustry tactical asset allocation. A <strong>CFA</strong> charterholders<strong>in</strong>ce 1998, Escario has served as treasurer and vice president of <strong>CFA</strong>W. As is true with manymembers of <strong>CFA</strong>W, Escario is committed to mak<strong>in</strong>g contributions to <strong>the</strong> greater Wash<strong>in</strong>gtoncommunity. He is vice president of a soccer club where he helped establish an academy that teachesadvanced techniques and foot skills to develop<strong>in</strong>g players ages 4 through 11.1