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Careers - Career as Career as a Chartered Financial Analyst,Course Details For career as Chartered Financial Analyst

Career as a Chartered Financial Analyst

Career as Cost and Financial AnalystToday’s complex business model demands specialists who can render their expertise and insight into the company. The needs of such specialists have created many new professions, which were earlier unheard of.

Chartered Financial Analyst (CFA) is one such specialized profession that has born out of recent complex business scenario and has assumed significant importance. A CFA primarily focuses on the financial analysis. To meet the changing requirements of the financial sector, CFA program has been designed and conducted by various Institutes. The program is more of a practitioner's course. It imparts training in the fields of corporate finance, investment management and financial services. The program is better suited for executives who want to enhance their skills in the field of finance.

Nature of Work

The CFA program imparts enough knowledge and expertise in the finance fields and those having undergone this program have an edge over others. The areas of work for CFAs are as follows:

CORPORATE FINANCE: Necessary technical skills and knowledge imparted in the CFA program in fields of corporate finance, like Indian Financial System, Financial Accounting, Management Accounting, Financial Management, Advanced Financial Management, and International Management adds to the advantage of CFAs in disposing of their duties and responsibilities.

INVESTMENT MANAGEMENT: Investment management is an analytical subject. To manage investments, requires thorough knowledge of the subject. The CFA program takes care of all these needs and covers important aspects of the subject including, Economics, Quantitative Techniques, Economic Legislations for the Securities Industry and Security Evaluation Techniques.

FINANCIAL SERVICES: The CFA program being a specialization program in finance helps CFAs to foray into financial services like Leasing, Hire Purchasing, Project Planning, Issue Management, Credit Rating, Venture Capital etc.

Course Details For Career as Chartered Financial Analyst

Cost and Financial AnalystThe CFA program is conducted by Institute of Chartered Financial Analysts of India (ICFAI). The course targets two broad groups, namely Executives and Graduates. Candidates seeking admission to the CFA program have to appear for an admission test. The test is based on verbal and quantitative reasoning which seeks to test the aptitude of the candidates for professional studies in Financial Analysis.

The course is divided into 4 modules namely Foundation, Preliminary, Inter and Final. Graduates and students in the final year of their Bachelor's degree in any discipline are eligible for admission to the program. However, Commissioned defence personnel having 5 years of experience can pursue the CFA program even if they do not have an undergraduate degree. Certain categories like CAs, ICWAs, MBAs and Postgraduates are exempted from the foundation module of the course. The following segment highlights the different modules and their subjects.

FOUNDATION COURSE: This is a beginner's course and except for the exempted categories, everybody else has to enroll to this module to start with the CFA program. The examination for the module can be taken in the following subjects, after 3 months of enrollment.

  • Elements of Financial and Management Accounting
  • Basics of Corporate Finance
  • Essentials of Investment and Tax Planning
  • Statistics of Financial Applications

PRELIMINARY LEVEL: After qualifying the Foundation examination, the next step is to qualify the Preliminary level. The preliminary level is divided into two Groups namely Group A and B. Group A examination can be taken up after 6 months of enrollment and Group B examination can be taken after 12 months of enrollment. The subjects for both the groups are as follows.

GROUP A

  • Financial Accounting
  • Financial Management

GROUP B Quantitative Methods Economics

INTER LEVEL: On clearing the Preliminary level, students can take up the Inter examination. The Inter level has two Groups namely Group C and D. Examination for Group C can be taken 6 months after passing the Preliminary examination and Group D examination can be taken after 12 months of passing the Preliminary examination. The subjects for the Groups are as follows.

GROUP C

  • Economic Legislation
  • Management Accounting

GROUP D

  • Security Evaluation
  • Project Appraisal Planning and Control

FINAL LEVEL: The last module is the Final level. This is also divided into two Groups namely Group E and F. Examination for Group E can be taken 6 months after passing the Inter examination and examination for Group F can be 12 months taken after passing Inter examination. The subjects of the groups are as follows.

GROUP E

  • Advanced Financial Management
  • Financial Services

GROUP F

  • Investment Management
  • Indian Financial System
  • International Financial Management
  • Colleges, Institutions and Universities

Career Prospects

Fiancial AnalystThere are wide areas of exciting career opportunities for CFAs. Options are available in Banking, Insurance, Corporate Sectors and Leasing Companies. Even organisations like Railways, Reserve Bank of India and Financial Institutions like ICICI, IDBI, IFCI and UTI have given due recognition to the CFA programme. Most of the CFAs professional receive offers for challenging positions with attractive emoluments. Besides this, CFAs can pursue any specialized function.

Corporate Finance and Control is one of them. It revolves around mobilization and utilization of domestic and overseas resources for short-term as well as long-term purposes with an objective to maximize returns. International Finance & Risk Management is another specialized function open to CFAs. Their task is to understand the international finance, international capital markets and to manage risk involved in business to its lowest level. Investment Management option is also available to CFAs. Many investors particularly in mutual funds seek their expertise to maximize the return on investments through skillful shuffling of the portfolio. Moreover, CFAs can provide valuable advisory services to corporate clients on the field of Investment Banking and Financial Services which, includes restructure of capitals, raising funds through IPO's and other means, advice and negotiation in matter of merges and acquisition, rehabilitation of sick units, stock brokering, credit rating and providing venture capital assistance. Above all career opportunities for CFAs with IT skills are increasing at a very rapid pace particularly those who are trained in high-end packages like SAP, Oracle application and Baan.

Remuneration

As a profession CFA ensures handsome returns for both those who are employed and who are practicing privately. At starting level a CFA may expect to get 10000 to 15000 per month. With experience this may increase to RS. 50,000 per month in domestic markets. Prospects in MNCs are even better CFAs who set their own practice privately also get handsome returns based on the number of clients they serve.

Institutes Offering CFA Courses

The Institute of Chartered Financial Analysts of India (ICFAI) situated at Banjara Hills, Hyderabad, Andhra Pradesh, INDIA, conducts the CFA program which is a 3 years and 3 months Postgraduate program. The course can be done as a distance education course. Contact courses are organized throughout the country to facilitate distance education. CFA program can be done as a regular campus course for 2 years. Many business schools also offer this course. These are advertised from time to time in the newspapers and the entrance tests are conducted throughout the country. Some other Institutes where CFA program can be pursued are as follows.

Institute

Place

State

Birla Institute of Technology and Science

Pilani.

Rajasthan

Narsee Monjee Institute of Management

Mumbai.

Maharastra

International Management Institute

New Delhi.

New Delhi.

SP Jain Institute of Management and Research

Mumbai.

Maharastra

Xavier Institute of Management

Bhubaneshwar

Orissa

 

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